歐洲的銀行保險市場：汽車保險及產物保險 是由出版商Finaccord Ltd.在2006年10月所出版的。
這份英文市場調查報告書包含Pages: 140 價格從美金2962起跳。
Abstract
Finaccord' s report titled Non-Life Bancassurance in Europe: Motor and
Household Insurance is the first ever dedicated study of the distribution of
motor and household insurance by European retail banks. The research is based
on a survey of 670 retail banks and other lending institutions serving
consumers in ten territories in Europe: Austria, Belgium, France, Germany,
Italy, the Netherlands, the Nordic region (comprising Denmark, Norway and
Sweden), Portugal, Spain and the UK / Republic of Ireland.
By means of this investigation, the report sheds unprecedented light on the
extent of involvement of banks across Europe in the distribution of motor and
household insurance, clarifies the operating models that they use to compete
in this market and identifies the external underwriters and brokers with which
they work to source motor and household insurance where they are not using a
captive or joint venture underwriting entity or internal brokerage unit.
Moreover, the PartnerBASE™ database which accompanies the publication
offers a thorough means of researching current practice in bank-oriented
distribution of motor and household insurance on a bank-by-bank,
country-by-country or product-by-product basis. As such, this report and the
associated PartnerBASE™ database constitute the most detailed research
into the strategy of banks in motor and household insurance that has ever been
completed on a published basis at the pan-European level.
Table of Contents
0.0 EXECUTIVE SUMMARY
- Combined, personal motor and household premiums were worth €108.0
billion in 2005
- ... with over 40% of banks active in motor insurance and over 60% in
household insurance
- The least developed non-life bancassurance markets are Italy and Sweden
- German banks continue to display an overwhelming preference for tied
agency distribution
- Use of brokerage models is fairly common in Austria, the Netherlands,
Spain and the UK / Ireland
- Joint ventures for motor and house. policies are most in evidence in
France and the Netherlands
- Austria: Wüstenrot Versicherung is the largest of the country' s
bank-owned underwriters
- Belgium: bank-owned insurers make important advances in both motor and
household insurance
- France: entry into non-life insurance of La Banque Postale could boost the
share of bancassurers
- Germany: the ossified nature of distribution partnerships may be stifling
innovation
- Italy: although keen to grow in non-life ins., Italian banks may continue
to shun motor insurance
- Netherlands: ABN AMRO Schadeverzekering has developed rapidly in recent
years
- Nordic region: the launch of Tre Kronor Försäkring in Sweden may
help bancass. to develop
- Portugal: bank-owned insurers account for more than 60% of total non-life
insurance premiums
- Spain: banks increasingly demonstrate a preference for brokerage or
quasi-brokerage models
- UK / Ireland: the captives of HBOS and Royal Bank of Scotland are notable
for their innovation
- For a number of reasons, many banks punch below their weight in motor and
house.insurance
- ... although they can potentially turn growth in cons. use of remote
channels to their advantage
- Growth in web-based aggregators, brokers and price comp. services presents
a new challenge
1.0 INTRODUCTION
- Finaccord
- Creditor insurance
- Mobile telephone insurance
- Travel insurance
- PartnerBASE™
- Rationale
- The advance of banks in life insurance and retirement savings is amply
documented...
- ... although this report offers the first in-depth review of activity in
motor and household insurance
- Methodology
- The research is based on a sample of 680 banks serving retail customers
2.0 EUROPEAN OVERVIEW
- Introduction
- Market size and segmentation
- Growth in house. insurance exceeds that for personal motor insurance
between 2001 and 2005
- Gross written premiums for personal motor insurance advance most rapidly
in the Nordic region
- Household insurance in Italy is worth less than in the Netherlands, the
Nordic region and Spain
- Penetration rates
- Personal motor insurance
- Many small and medium-sized banks in Austria, Germany and Spain promote
motor insurance...
- Household insurance
- ... and banks in Italy and the UK display much greater enthusiasm for
marketing house. policies
- Operating models
- Personal motor insurance
- Use of single, external partners for personal motor insurance is most
widespread in Germany...
- ... while several of the major networks in Belgium, France and the N' lands
use captive entities
- Household insurance
- Generally, banks are more likely to use captive or joint venture
underwriters for household risks
3.0 AUSTRIA
- Introduction to the banking sector
- The Austrian retail banking market remains comparatively fragmented
- Bank Austria Creditanstalt serves 1.8 million customers in its domestic
market
- The Austrian Federation of Trade Unions assumed 100% ownership of BAWAG
PSK in 2004
- Like its rivals, Erste Bank has ambitious growth plans in Central and
Eastern Europe
- RZB ultimately supports 571 autonomous local credit co-operatives
- Many other banks operate at a local or regional level within Austria...
- ... including several institutions whose primary focus lies on retail
lending
- Market overview
- Household insurance gross written premiums exceed €1 billion for the
first time in 2005
- Bancassurance
- Taken at face value, Austrian banks appear to have had limited success in
non-life insurance...
- ... although much of their business is intermediated by internal and
external brokers
- Survey results
- Motor insurance
- Over half of Austrian banks offering motor pols. work with a single,
external partner in this field...
- ... although several of the country' s major banking groups possess their
own internal brokerage
- Household insurance
- Sparkassen Versicherung is the main provider of household insurance to
Austria' s savings banks
- Competitor analysis
- Both Raiffeisen Versicherung and Porsche Versicherung achieve strong
premium growth
- ... and Sparkassen Versicherung sees its market share for motor insurance
rise to 0.68%
4.0 BELGIUM
- Introduction to the banking sector
- In spite of substantial restructuring, Belgium' s retail banking market
remains crowded
- Dexia, Fortis, ING and KBC lead the way...
- ... although numerous medium-sized and small banking ventures challenge
their dominance
- Market overview
- The combined market for personal motor and household insurance is worth
over €3 billion
- Bancassurance
- Bank branches gain ground across most forms of non-life insurance in
Belgium...
- ... and the share of bank-owned insurers in both motor and household
insurance is substantial
- Survey results
- Motor insurance
- Ethias underwrites motor insurance for both Crédit Agricole and
Dexia...
- ... while the other big three banking groups and Argenta Spaarbank utilise
their captives
- Household insurance
- In some instances, the operating models and partnerships are different for
household insurance
- Competitor analysis
- Belgium' s bank-owned insurance companies continue to make progress in
non-life insurance
5.0 FRANCE
- Introduction to the banking sector
- Mutual and co-operative banks continue to play a substantial role in
French retail banking...
- ... albeit merger and acquisition activity have changed the landscape in
recent years
- Most foreign entrants fail to make significant headway in the problematic
French market
- ... with Abbey, Egg and San Paolo IMI having all withdrawn completely
- Specialised lenders also play an important role in French retail banking...
- ... as do financial services firms belonging to some of the country' s
largest retailing groups
- The Crédit Municipal institutions: specialising in low value loans
charging low interest rates
- La Poste is playing an increasingly important part in the French retail
financial services scene
- Market overview
- Household insurance outgrows personal motor insurance over the 2001-5
period
- Bancassurance
- French banks have achieved only modest growth in non-life insurance in
more recent years
- Survey results
- Motor insurance
- All of the main retail banking networks are fully active in the motor
insurance market...
- ... with many underwriting motor insurance policies through captive or
joint venture entities
- ... although BNP Paribas is tied to Avanssur, a subsidiary of AXA, for
this line of insurance
- Household insurance
- HSBC' s joint venture with Swiss Life is active in household insurance, but
not motor insurance
- Home surveillance: a new bancassurance policy related to home ownership?
- Home surveillance is characterised by the provision of three main service
elements...
- ... although to a considerable extent, the market is still in the process
of being defined
- Financial institutions offer a logical route to market for home
surveillance...
- ... and distribution partnerships, generally, constitute the key success
factor
- Competitor analysis
- Almost all bank-owned insurers in France are expanding their share of
non-life insurance...
- ... with Crédit Mutuel' s ACM Iard leading the way for motor
insurance...
- ... and Crédit Agricole' s Pacifica for household insurance
6.0 GERMANY
- Introduction to the banking sector
- Commercial banks struggle in the face of savings bank and credit
co-operative competition
- Germany' s savings banks: continuing adherence to public sector insurers
remains the norm
- R&V is able to meet virtually all the insurance needs of credit
co-operative customers
- Foreign entrants show that reasonable returns can be generated from German
retail banking
- Germany' s crowded banking sector provides other feasible bancassurance
opportunities
- Market overview
- Together, personal motor and house. insurance premiums grow at less than
1.0% per annum
- Bancassurance
- The distribution share of banks in total non-life insurance is unlikely to
exceed 10%
- Survey results
- Motor insurance
- Almost two thirds of banks serving consumers offer motor insurance to
their customers...
- ... with the vast majority of these acting as a tied agent for a single
underwriting partner...
- ... a finding relevant to many private sector banks, as well as savings
banks and co-operatives
- A minority of banking institutions have opted for alternative operating
models
- Household insurance
- Penetration rates and operating models are broadly similar for household
insurance
- Competitor analysis
- R&V Versicherung outgrows its public sector rivals by a considerable margin
- Direct Line expands its business although the pace of change in Germany is
slow
- Irrespective of the channels used, it is difficult to advance rapidly in
German motor insurance
- R&V Versicherung also outstrips most public sector underwriters in
property insurance
7.0 ITALY
- Introduction to the banking sector
- Consolidation and rationalisation change the face of retail banking in
Italy...
- ... with a fast-growing second tier of banks ready to challenge the big
six groups
- Acquisitions by ABN AMRO and BNP Paribas open the way to further foreign
entrants...
- ... although some have gained exposure already through joint ventures in
consumer finance
- Smaller specialised lenders service the market for cessione del quinto
loans
- Market overview
- The average annual growth rate for both personal motor and household
insurance is 4.1%
- Bancassurance
- Italy' s non-life bancassurance channel shows stronger signs of development
in 2005...
- ... although its aggregate distribution share is just 3.4% for property
insurance
- Banks in Italy are likely to grow their distribution share of both motor
and household insurance
- Survey results
- Motor insurance
- Many of the larger Italian banks have been reluctant to enter the motor
insurance market...
- ... although Direct Line, Genertel and Zurich each lay claim to important,
exc. partnerships...
- ... and several banks offer motor insurance policies through either joint
ventures or captives
- Household insurance
- Over 60% of banking entities surveyed are active in distribution of
household insurance...
- GPA Assiparos collaborates with Banca Intesa for many forms of non-life
insurance
- Eurizon Tutela, a captive belonging to San Paolo IMI, also distributes
through Bancoposta
- Credito Valtellinese and Veneto Banca have both developed an internal
brokerage system
- Competitor analysis
- Banca Carige possesses the largest bank-owned non-life bancassurer in
Italy...
- ... although smaller underwriters operating in this field are achieving
more rapid growth
- In motor insurance, only Direct Line and BPB Assicurazioni make serious
progress...
- ... although the development of bank-owned underwriters in property ins.
is more promising
8.0 NETHERLANDS
- Introduction to the banking sector
- Three financial services giants dominate retail banking in the
Netherlands...
- ... albeit a number of smaller institutions fulfil specialist roles in the
Dutch market
- Market overview
- Gross written premiums for personal motor insurance in the Netherlands
stagnate in 2005
- Bancassurance
- Bank branches distribute around 11.0% of all non-life insurance policies
in the Netherlands
- Survey results
- Motor insurance
- Bank distribution of motor insurance is mainly restricted to the larger
retail networks...
- ... with both ABN AMRO and Rabobank having sold a stake in captive
insurers in recent times
- Household insurance
- Fortis Bank, ING Bank, Postbank and SNS Bank all use a captive model for
household policies
- Competitor analysis
- Combined banking and insurance groups account for over 25% of total
non-life premiums
- Most of the leading bank-owned underwriters are gaining market share in
motor insurance...
- ... with ABN AMRO Schadeverzekering having doubled its market share in
property insurance
9.0 NORDIC REGION
- Introduction to the banking sector
- Four pan-Scandinavian banking institutions battle against mainly smaller
national competitors
- Danske Bank: the bank lays claim to 465 branches across its five main
countries of operation
- Handelsbanken: expansion in the Nordic region achieved through org. growth
and acquisitions
- Nordea: a leading financial services group in the Nordic and Baltic regions
- SEB: strategic acquisitions fuel expansion across Northern Europe
- Denmark: GE Money Bank and a series of smaller banks provide the
competition
- Norway: Den norske Bank has shielded itself from takeover by merging with
Gjensidige
- Sweden: FöreningsSparbanken lays claim to 4.1 million retail banking
clients in Sweden...
- ... although the incumbents are being challenged by both retailer banks
and foreign entrants
- Market overview
- The combined market for motor and household insurance climbs to €7.24
billion in 2005
- Bancassurance
- Non-life bancassurance is developed in Denmark and Norway in comparison to
Sweden...
- ... although FöreningsSparbanken and the Swedish savings banks are
stepping up their activity
- Survey results
- Motor insurance
- Few banks in Sweden have elected to enter the motor insurance sector thus
far...
- ... although the expansion of Tre Kronor Försäkring promises to
change the picture in future
- Codan' s Privatsikring collaborates for motor insurance with three smaller
banks in Denmark...
- ... although it competes with several other insurance underwriters for
bancassurance mandates
- Household insurance
- Sparbanken Nord' s link with Dina Förs. may change with the launch of
Tre Kronor Försäkring
- Competitor analysis
- Topdanmark' s Danske Forsikring cedes market share of total non-life
insurance in Denmark
- Terra Skadeforsikring comfortably outpaces Sparebank 1 Skadeforsikring,
its larger rival
10.0 PORTUGAL
- Introduction to the banking sector
- Foreign entrants exert a strong influence of the development of the
banking market...
- ... with many specialised lending firms belonging to overseas parents
- Market overview
- Household insurance gross premiums written in Portugal totalled just
€253.9 million in 2005
- Bancassurance
- Portuguese bancassurance benefits from bank ownership of several of the
largest insurers
- Survey results
- Motor insurance
- Motor insurance is provided by almost all of Portugal' s major retail
banks...
- ... although few of the country' s specialised lending firms are active in
this field
- Only AXA Seguros lays claim to more than one exclusive bancassurance
relationship
- Millennium BCP is now classifiable as a joint venture following the sale
of a 50% stake to Fortis
- Household insurance
- Over 50% of banking institutions are active in the intermediation of
household insurance...
- ... with more use of captive insurers in evidence than for motor insurance
- Competitor analysis
- Bank-owned underwriters in Portugal secure more than 60% of total non-life
premiums written
11.0 SPAIN
- Introduction to the banking sector
- The main wave of consolidation in Spanish retail banking has now taken
place
- Many of Spain' s savings banks are characterised by an independent,
entrepreneurial spirit
- Caser occupies a unique position in the Spanish bancassurance market
- New entrants may provide fresh bancassurance opportunities
- Specialised lenders and auto captives complete the list of potential
non-life insurance partners
- Market overview
- The household insurance market surges at an average growth rate per annum
of 13.2%
- Bancassurance
- Banking institutions in Spain have made some progress in non-life
bancassurance...
- ... and their share of policies distributed may be higher than indicated
by the official figures
- Survey results
- Motor insurance
- Over two thirds of consumer-oriented banks in Spain are active in selling
motor insurance...
- ... with many having gravitated towards use of multiple partners or a
brokerage model
- Zurich' s exclusive partners include Banca Pueyo, Banco Halifax Hispania
and Deutsche Bank
- Household insurance
- The vast majority of banking entities surveyed are active in distribution
of household insurance
- Only five underwriters hold two or more exclusive bancassurance
partnerships in this domain
- A number of the larger banking networks insure household risks through
captives
- Biharko Seguros is the joint venture firm utilised by three savings banks
in the Basque region
- Competitor analysis
- The majority of non-life bancassurers in Spain are now making significant
advances...
- ... including Santander Seguros, which almost quadrupled its market share
from 2001 to 2005
12.0 UNITED KINGDOM / IRELAND
- Introduction to the banking sector
- Structural changes to the UK retail banking landscape have reached a hiatus
- New entrants have experienced mixed fortunes
- At the highest level, the market segments into banks, building societies
and specialised lenders
- Banks demonstrate little homogeneity in their approach towards
establishing partnerships
- Building societies gain market share of retail financial services at the
expense of banks
- Specialised lenders are a diverse category...
- ... with many belonging ultimately to larger and better-known financial
institutions
- In Ireland, the trad. duopoly of AIB and Bank of Ireland has been
challenged by new entrants
- Market overview
- Gross premiums written for household insurance race past €11 billion
in 2005
- Bancassurance
- Bank-owned distribution is boosted by the captive operations of HBOS and
RBoS...
- ... however, a smaller percentage of customers perceive that they are
buying from their bank
- In general, Irish banks display less enthusiasm for non-life bancassurance
than those in the UK
- Survey results
- Motor insurance
- Competition from rival distribution channels makes it tough for banks to
thrive in motor ins....
- ... with a number of major banking entities having elected not to mount a
challenge in this arena
- Royal Bank of Scotland' s captive underwriters provide motor policies to
rival banking networks
- HSBC is the largest of the UK banks to prefer a brokerage model for motor
insurance
- Household insurance
- Over two thirds of banks in the UK and Ireland intermediate household
insurance policies
- Norwich Union' s roster of partnerships is more impressive than that of
Royal & SunAlliance
- Royal Bank of Scotland' s insurers are increasingly targeting non-captive
distribution ties
- Both AXA Insurance and Legal & General lay claim to valuable relationships
in this field
- Lloyds TSB has opted for a mixed operating model, as has the Irish branch
of Bank of Scotland
- Competitor analysis
- The non-life business of Royal Bank of Scotland saw market share fall in
2004 and 2005
- ... although it continues to offer a key point of reference in European
non-life bancassurance
GRAPHICS / TABLES
- Banks and other lending institutions contacted for the research, segmented
by type and by country
- Personal motor and household insurance gross premiums written in Europe,
2001-5
- Personal motor insurance gross premiums written in Europe split by
country, 2001-5
- Household insurance gross premiums written in Europe split by country,
2001-5
- Comparison of bank distribution of personal motor insurance in Europe, 2006
- Comparison of bank distribution of household insurance in Europe, 2006
- Comparison of operating models used for personal motor insurance in
Europe, 2006
- Comparison of operating models used for household insurance in Europe, 2006
- Gross premiums written for personal motor and household insurance in
Austria, 2001-5
- Bank provision of motor insurance in Austria: penetration rates, op.
models and partner market shares, 2006
- Bank provision of household insurance in Austria: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Austria, 2003-5
- Market shares for key bancassurance competitors in motor insurance in
Austria, 2003-5
- Gross premiums written for personal motor and household insurance in
Belgium, 2001-5
- Bank provision of motor insurance in Belgium: penetration rates, op.
models and partner market shares, 2006
- Bank provision of household insurance in Belgium: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Belgium, 2003-4
- Gross premiums written for personal motor and household insurance in
France, 2001-5
- Bank provision of motor insurance in France: penetration rates, op. models
and partner market shares, 2006
- Bank provision of household insurance in France: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
France, 2003-4
- Market shares for key bancassurance competitors in motor insurance in
France, 2004
- Market shares for key bancassurance competitors in household insurance in
France, 2004
- Gross premiums written for personal motor and household insurance in
Germany, 2001-5
- Bank provision of motor insurance in Germany: pen. rates, op. models and
partner market shares, 2006
- Bank provision of household insurance in Germany: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Germany, 2001-4
- Market shares for key bancassurance competitors in motor insurance in
Germany, 2001-4
- Market shares for key bancassurance competitors in property insurance in
Germany, 2001-4
- Gross premiums written for personal motor and household insurance in
Italy, 2001-5
- Bank provision of motor insurance in Italy: penetration rates, op. models
and partner market shares, 2006
- Bank provision of household insurance in Italy: pen. rates, op. models and
partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Italy, 2001-5
- Market shares for key bancassurance competitors in motor insurance in
Italy, 2001-5
- Market shares for key bancassurance competitors in property insurance in
Italy, 2001-5
- Gross premiums written for personal motor and household insurance in the
Netherlands, 2001-5
- Bank provision of motor insurance in the Netherlands: pen. rates, op.
models and partner mkt. shares, 2006
- Bank provision of household ins. in the Netherlands: pen. rates, op.
models and partner mkt. shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
the Netherlands, 2003-4
- Market shares for key bancassurance competitors in motor insurance in the
Netherlands, 2003-4
- Market shares for key bancassurance competitors in property insurance in
the Netherlands, 2003-4
- Gross premiums written for personal motor and household insurance in the
Nordic region, 2001-5
- Bank provision of motor ins. in the Nordic region: pen. rates, op. models
and partner mkt. shares, 2006
- Bank provision of household ins. in the Nordic region: pen. rates, op.
models and partner mkt. shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
the Nordic region, 2002-5
- Gross premiums written for personal motor and household insurance in
Portugal, 2001-5
- Bank provision of motor insurance in Portugal: pen. rates, op. models and
partner market shares, 2006
- Bank provision of household insurance in Portugal: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Portugal, 2001-4
- Gross premiums written for personal motor and household insurance in
Spain, 2001-5
- Bank provision of motor insurance in Spain: penetration rates, op. models
and partner market shares, 2006
- Bank provision of household insurance in Spain: pen. rates, op. models and
partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
Spain, 2001-5
- Gross premiums written for personal motor and household insurance in the
UK, 2001-5
- Bank provision of motor insurance in the UK: penetration rates, op. models
and partner market shares, 2006
- Bank provision of household insurance in the UK: pen. rates, op. models
and partner market shares, 2006
- Market shares for key bancassurance competitors in non-life insurance in
the UK, 2001-5
- Major, exc. affinity and partner. mktg. rels. for pers. non-life ins. in
the UK held by RBS Ins. Group, 2006
- Major, exc. aff. and partner. mktg. rels. for pers. non-life ins. in the
UK held by RBS Ins. Group, 2006 (cont.)
- Major, exc. aff. and partner. mktg. rels. for pers. non-life ins. in the
UK held by RBS Ins. Group, 2006 (cont.)
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