Marktanalyse - Bancassurance in Italy: Life, Non-Life and Creditor Insurance
Finaccord
11 / 2011
81 Seiten
| Typ: | Marktanalyse |
| Sprache: | Englisch |
| Regionen: | Italien |
| Verfügbarkeit: | verfügbar |
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Marktanalyse - 'Bancassurance in Italy: Life, Non-Life and Creditor Insurance'
Finaccord’s report titled Bancassurance in Italy: Life, Non-Life and Creditor Insurance is about the distribution of insurance products through banks and other lending institutions in Italy. Types of insurance considered are: investment-related life insurance and retirement savings; risk life insurance, critical illness insurance and income protection insurance; accident insurance, medical expenses insurance and health / hospital cash plans; personal motor insurance and household insurance; and creditor insurance for mortgages, consumer finance and credit cards.
Based on a survey of 120 organisations, it identifies 748 bancassurance distribution initiatives across these types of insurance, and highlights the operating models and product providers used in the vast majority of cases. Moreover, it analyses these bancassurance agreements in terms of ‘weighted partnerships’ which take into account the size of the retail customer base of the banking institutions distributing these policies, thereby differentiating between the most important relationships and those that are comparatively minor.
In addition, with the exception of creditor insurance, for which historic, current and forecast market size data is provided for 2007, 2011 and 2015, the report also sizes the market for the various types of insurance investigated in terms of gross written premiums between 2006 and 2010, provides a general introduction to the banking sector, comments upon the general influence of the bank distribution channel for these types of insurance, and presents available data for key bancassurance underwriters, including captives, joint ventures and other dedicated bancassurance underwriters.
You may be able to use this report and the PartnerBASE™ dataset that accompanies it in one or more of the following ways:
- gain access to a source of information that provides a comprehensive overview of the provision of a range of personal insurance products by a majority of significant banking entities in Italy;
- identify partnership opportunities for these types of insurance that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
- understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in Italy;
- assess the background to the most significant bancassurance deals, differentiating between those that originate from long-term or strategic objectives and those that are more transient;
- appreciate the magnitude of the opportunity to sell different types of life, non-life and creditor insurance through banks and other lending institutions in Italy.
Finaccord’s report titled Bancassurance in Italy: Life, Non-Life and Creditor Insurance is about the distribution of insurance products through banks and other lending institutions in Italy. Types of insurance considered are: investment-related life insurance and retirement savings; risk life insurance, critical illness insurance and income protection insurance; accident insurance, medical expenses insurance and health / hospital cash plans; personal motor insurance and household insurance; and creditor insurance for mortgages, consumer finance and credit cards.
Based on a survey of 120 organisations, it identifies 748 bancassurance distribution initiatives across these types of insurance, and highlights the operating models and product providers used in the vast majority of cases. Moreover, it analyses these bancassurance agreements in terms of ‘weighted partnerships’ which take into account the size of the retail customer base of the banking institutions distributing these policies, thereby differentiating between the most important relationships and those that are comparatively minor.
In addition, with the exception of creditor insurance, for which historic, current and forecast market size data is provided for 2007, 2011 and 2015, the report also sizes the market for the various types of insurance investigated in terms of gross written premiums between 2006 and 2010, provides a general introduction to the banking sector, comments upon the general influence of the bank distribution channel for these types of insurance, and presents available data for key bancassurance underwriters, including captives, joint ventures and other dedicated bancassurance underwriters.
You may be able to use this report and the PartnerBASE™ dataset that accompanies it in one or more of the following ways:
- gain access to a source of information that provides a comprehensive overview of the provision of a range of personal insurance products by a majority of significant banking entities in Italy;
- identify partnership opportunities for these types of insurance that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
- understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in Italy;
- assess the background to the most significant bancassurance deals, differentiating between those that originate from long-term or strategic objectives and those that are more transient;
- appreciate the magnitude of the opportunity to sell different types of life, non-life and creditor insurance through banks and other lending institutions in Italy.
Inhaltsverzeichnis Marktanalyse - 'Bancassurance in Italy: Life, Non-Life and Creditor Insurance'
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ... 1
1.0 INTRODUCTION 3
What is this report about? .. 3
Distribution partnerships with banks and other lending institutions constitute the focus of this report ... 3
Rationale 3
Across Europe, over 80% of banking entities surveyed are active in this arena to one extent or another 3
Methodology . 4
Survey of banks and other lending institutions . 4
Market data . 4
Definitions . 6
Investment-related life insurance .. 6
Retirement savings 6
Risk life insurance .. 6
Critical illness insurance . 6
Income protection insurance . 7
Accident insurance . 7
Health / hospital cash plans ... 7
Medical expenses insurance . 7
Personal motor insurance .. 7
Household insurance . 7
Creditor insurance .. 8
Mortgages, consumer finance and credit cards ... 8
Weighted provider share of partnerships .. 8
Operating models ... 9
Abbreviations and exchange rates .. 10
Finaccord 10
2.0 MARKET ANALYSIS ... 12
Banks and other lending institutions covered .. 12
Introduction to the banking sector .. 13
Four, or arguably five, retail banking groups lay claim to a genuinely nationwide network… .. 13
… although these are being challenged by an array of ambitious regional competitors… .. 13
… including the banche di credito cooperative and casse Raiffeisen… 13
… as well as several insurer-owned banks and banks falling under foreign ownership ... 13
Italy also plays host to a considerable number of specialised lending institutions 13
Italy’s banking groups typically encapsulate a number of local or regional banking brands. 14
Investment-related life insurance and retirement savings .. 15
Insurance market size and growth .. 15
The market for investment-related life insurance and retirement savings hit its highest ever level in 2010 . 15
Distribution share of banks .. 17
Banks are most dominant as distributors in the market for unit-linked life insurance ... 17
Bancassurance provision rates, operating models and partnerships ... 18
Investment-related life insurance 18
A comparatively high proportion of banking institutions work with one more than product provider 18
Both Intesa Sanpaolo and UniCredit have re-configured their bancassurance activities in recent years 18
In total, around 12 providers of investment-related life insurance are classifiable as captive providers... ... 18
... and 11 as joint ventures... 19
Other providers with a significant presence include Arca, Assimoco, Eurovita, UNIQA and Zurich 19
Unipol has owned over 60% of the equity capital of Arca since June 2010 .. 20
Several firms are only ever used as one of a panel of providers of investment-related life policies 20
Most institutions with no involvement in this area are classifiable as specialised lenders 20
Retirement savings ... 22
Providers of retirement savings include both insurance companies and investment management firms... 22
... with the latter including Pioneer, in the case of UniCredit .. 22
Once again, product providers include a significant number of captive and joint venture entities 22
... although over 20 external companies possess at least one exclusive partnership in this domain ... 23
Performance of key bancassurance underwriters .. 25
Over 30 bank-owned captive or joint venture underwriters are active in the Italian life insurance market... 25
... although fewer compete in the pension funds sector . 27
Protection-related life insurance . 28
Insurance market size and growth .. 28
Gross written premiums for protection-related life insurance peaked at EUR 2.13 billion in 2008 ... 28
Distribution share of banks .. 29
Bancassurance provision rates, operating models and partnerships ... 29
Risk life insurance 29
Two major banking groups each hold stakes in a pair of joint venture bancassurance entities ... 29
Some captive and joint venture firms have been successful in creating partnerships with external banks . 29
Recent years have seen both the creation and winding down of joint venture underwriters 30
A number of major banking entities ignore risk life insurance in favour of creditor policies .. 30
Critical illness insurance ... 32
Just three banking institutions offer policies with a significant critical illness component.. 32
Income protection insurance 34
Three major banking networks distribute income protection insurance 34
Assimoco is used as one of two providers by the Gruppo Bancario Raiffeisen as well as by ten local banks 34
Performance of key bancassurance underwriters .. 34
Accident and health insurance 36
Insurance market size and growth .. 36
Italy’s health insurance sector expands although accident insurance has begun to decline 36
Distribution share of banks .. 37
Banks have made significant progress as distributors in accident and health insurance . 37
Bancassurance provision rates, operating models and partnerships ... 38
Accident insurance ... 38
Accident insurance policies are sold by over a half of Italian banking institutions surveyed 38
Two captives and two joint ventures rank among the top five underwriters by weighted share of partnerships . 38
ACE European Group, Cattolica and Chiara Assicurazioni also hold significant relationships 38
Entities not distributing accident insurance include 23 with more than 250,000 retail customers 39
Medical expenses insurance 41
45% of banking entities researched in Italy are distributors of medical expenses insurance ... 41
By weighted share of partnerships, the five leading firms are either captives or joint ventures 41
Other captives include CBA Vita, Chiara Assicurazioni, Global Assistance and Mediolanum Assicurazioni .. 41
The status of an exclusive, non-captive provider is held by a relatively high number of underwriters . 41
A number of significant banking institutions have no arrangement in place for medical expenses cover ... 41
Health / hospital cash plans . 44
DKV Salute benefits from one major partnership in this field... .. 44
... and Europ Assistance from six 44
In addition to American Express, ACE European Group co-operates with a major specialised lender ... 44
Over 20 sizeable banking institutions have no visible partnership for health or hospital cash plans ... 44
Performance of key bancassurance underwriters .. 47
Bank-owned underwriters grew their total market share of accident cover in each year from 2006 to 2010... ... 47
... with a similar trend visible for health insurance, where Intesa Sanpaolo Assicura is the peer group leader ... 48
Personal motor and household insurance 49
Insurance market size and growth .. 49
Gross written premiums for personal motor insurance have been declining since 2007 . 49
Distribution share of banks .. 50
Banks manage progress in property insurance but struggle to make an impact in motor insurance... 50
Bancassurance provision rates, operating models and partnerships ... 51
Personal motor insurance 51
50 of the banking institutions surveyed are active in the distribution of personal motor insurance .. 51
By weighted share of partnerships, a captive and three joint ventures rank among the top five underwriters 51
Other providers with important relationships include Assimoco, Aviva Assicurazioni and Direct Line... .. 51
... plus the three underwriting brands belonging to the Reale Mutua grouping . 52
Entities not distributing motor insurance include 17 with more than 250,000 retail customers 52
Household insurance 54
Most banking institutions offering household cover do so in conjunction with a single, external underwriter .. 54
UniCredit persists with two bancassurance joint ventures for non-life insurance . 54
Joint ventures include ABC Assicura, Avipop, AXA MPS, Credem Assicurazioni and UBI Assicurazioni .. 54
As many as 25 different underwriters hold the status of an exclusive, non-captive provider ... 54
Lending institutions that do not sell household insurance are mainly those that do not offer mortgages 55
Performance of key bancassurance underwriters .. 57
Carige Assicurazioni holds the highest market share of the bank-owned underwriters in motor insurance... . 57
... and also in total property insurance 58
Creditor insurance . 59
Consumer lending market size and growth 59
Mortgage lending . 59
Italy’s residential mortgage market continues to grow although balances per capita remain low 59
Non-mortgage lending . 60
The compound annual growth rate for non-mortgage balances is slightly higher than that for mortgages . 60
Credit and other pay later cards .. 61
Italy’s market for credit and other pay later cards has stagnated in recent years . 61
Creditor insurance provision rates, operating models and partnerships ... 62
Creditor insurance linked to mortgages .. 62
Several lending institutions utilise hybrid operating models incorporating different types of underwriter... .. 62
... including the UniCredit grouping, which runs joint ventures with three separate partners ... 62
Other smaller captive and joint venture underwriters are also in evidence... 63
... as are over 20 external providers of mortgage-related creditor insurance with at least one relationship 63
Assimoco co-operates in this area with as many as 14 of the lending institutions investigated ... 64
Creditor insurance linked to consumer finance .. 66
Virtually all lending institutions that could offer this type of creditor insurance actually do so in practice . 66
By weighted share of partnerships, Cardif emerges as the second-ranked competitor ... 66
Among other specialist underwriters, ALICO and CACI are also relatively prominent . 66
As in several other countries, Banque PSA Finance makes use of a captive underwriter in this field . 66
The competition among non-captives is as fragmented and intense as it is for mortgage-related cover 66
Lending institutions with no arrangement in this area are all comparatively minor entities .. 67
Creditor insurance linked to credit cards . 69
Small and medium-sized banks tend not to have schemes for credit card payment protection insurance... .. 69
... because, typically, they are distributors rather than original issuers of credit cards .. 69
Nevertheless, 20 programs were identified among more significant competitors in the credit card sector . 69
Creditor insurance risk coverage . 71
Virtually all policies now available in Italy offer comprehensive risk coverage .. 71
Alternative distribution channels .. 72
Credit intermediaries and estate agency chains are also used for selling creditor insurance .. 72
Creditor insurance market size, growth and forecast . 73
All forms of creditor insurance are forecast to continue growing between 2011 and 2015 .. 73
Tabellenverzeichnis Marktanalyse - 'Bancassurance in Italy: Life, Non-Life and Creditor Insurance'
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY ... 1
Overview of bancassurance provision rates for different types of insurance in Italy, 2011 ... 2
1.0 INTRODUCTION 3
Banks and other lending institutions in Italy contacted by Finaccord, segmented by type 4
2.0 MARKET ANALYSIS ... 12
Gross written premiums for investment-related life insurance and retirement savings in Italy, 2006-2010 16
Gross written premiums for investment-related life insurance and retirement savings in Italy, 2006-2010 (data) . 16
Distribution share of bancassurance total life, 'class 1' life and unit-linked life insurance, and capitalisation bonds and pension funds in Italy, 2006-2010 (data) .. 17
Bancassurance provision of investment-related life insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships 21
Bancassurance provision of retirement savings in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 24
Market share in total life insurance of key bancassurance underwriters in Italy, 2006-2010 (data) 26
Market share in of key bancassurance underwriters in pension funds in Italy 2006-2010 (data) 27
Gross written premiums for protection-related life insurance in Italy, 2006-2010 . 28
Gross written premiums for protection-related life insurance in Italy, 2006-2010 (data) .. 29
Bancassurance provision of risk life insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 31
Bancassurance provision of critical illness insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 33
Bancassurance provision of income protection insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 35
Gross written premiums for accident and health insurance in Italy, 2006-2010 ... 36
Gross written premiums for accident and health insurance in Italy, 2006-2010 (data) 37
Distribution share of banks in total non-life, accident and health insurance in Italy, 2006-2010 (data) ... 37
Bancassurance provision of accident insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 40
Bancassurance provision of medical expenses insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 43
Bancassurance provision of health / hospital cash plans in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 46
Market share in accident insurance of key bancassurance underwriters in Italy, 2006-2010 (data) ... 47
Market share in health insurance of key bancassurance underwriters in Italy, 2006-2010 (data) .. 48
Gross written premiums for personal motor and household insurance in Italy, 2006-2010 . 49
Gross written premiums for personal motor and household insurance in Italy, 2006-2010 (data) .. 50
Distribution share of banks in total non-life, motor and property insurance in Italy, 2006-2010 (data) 50
Bancassurance provision of personal motor insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 53
Bancassurance provision of household insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 56
Market share in total motor insurance of key bancassurance underwriters in Italy, 2006-2010 (data) ... 57
Market share in of key bancassurance underwriters in total property insurance in Italy 2006-2010 (data) 58
Residential mortgage lending balances outstanding in Italy (absolute and per capita), 2006-2010 ... 59
Consumer non-mortgage lending balances outstanding in Italy (absolute and per capita), 2006-2010 . 60
Credit and other pay later cards issued and per capita in Italy, 2006-2010 .. 61
Key data points for the consumer lending market in Italy, 2006-2010 .. 62
Provision of creditor insurance linked to mortgages in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 65
Provision of creditor insurance linked to consumer finance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 68
Provision of creditor insurance linked to credit cards in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 70
Risk coverage of creditor insurance policies in Italy, segmented by type of underlying product, 2011 .. 71
Creditor insurance gross written premiums in Italy, segmented by policy type, 2007, 2011 and 2015 (forecast) ... 73
Creditor insurance gross written premiums in Italy, segmented by cover type, 2007, 2011 and 2015 (forecast) ... 74
Creditor insurance gross written premiums in Italy, segmented by policy and cover type, 2007, 2011 and 2015 (forecast) (data) ... 74
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ... 1
1.0 INTRODUCTION 3
What is this report about? .. 3
Distribution partnerships with banks and other lending institutions constitute the focus of this report ... 3
Rationale 3
Across Europe, over 80% of banking entities surveyed are active in this arena to one extent or another 3
Methodology . 4
Survey of banks and other lending institutions . 4
Market data . 4
Definitions . 6
Investment-related life insurance .. 6
Retirement savings 6
Risk life insurance .. 6
Critical illness insurance . 6
Income protection insurance . 7
Accident insurance . 7
Health / hospital cash plans ... 7
Medical expenses insurance . 7
Personal motor insurance .. 7
Household insurance . 7
Creditor insurance .. 8
Mortgages, consumer finance and credit cards ... 8
Weighted provider share of partnerships .. 8
Operating models ... 9
Abbreviations and exchange rates .. 10
Finaccord 10
2.0 MARKET ANALYSIS ... 12
Banks and other lending institutions covered .. 12
Introduction to the banking sector .. 13
Four, or arguably five, retail banking groups lay claim to a genuinely nationwide network… .. 13
… although these are being challenged by an array of ambitious regional competitors… .. 13
… including the banche di credito cooperative and casse Raiffeisen… 13
… as well as several insurer-owned banks and banks falling under foreign ownership ... 13
Italy also plays host to a considerable number of specialised lending institutions 13
Italy’s banking groups typically encapsulate a number of local or regional banking brands. 14
Investment-related life insurance and retirement savings .. 15
Insurance market size and growth .. 15
The market for investment-related life insurance and retirement savings hit its highest ever level in 2010 . 15
Distribution share of banks .. 17
Banks are most dominant as distributors in the market for unit-linked life insurance ... 17
Bancassurance provision rates, operating models and partnerships ... 18
Investment-related life insurance 18
A comparatively high proportion of banking institutions work with one more than product provider 18
Both Intesa Sanpaolo and UniCredit have re-configured their bancassurance activities in recent years 18
In total, around 12 providers of investment-related life insurance are classifiable as captive providers... ... 18
... and 11 as joint ventures... 19
Other providers with a significant presence include Arca, Assimoco, Eurovita, UNIQA and Zurich 19
Unipol has owned over 60% of the equity capital of Arca since June 2010 .. 20
Several firms are only ever used as one of a panel of providers of investment-related life policies 20
Most institutions with no involvement in this area are classifiable as specialised lenders 20
Retirement savings ... 22
Providers of retirement savings include both insurance companies and investment management firms... 22
... with the latter including Pioneer, in the case of UniCredit .. 22
Once again, product providers include a significant number of captive and joint venture entities 22
... although over 20 external companies possess at least one exclusive partnership in this domain ... 23
Performance of key bancassurance underwriters .. 25
Over 30 bank-owned captive or joint venture underwriters are active in the Italian life insurance market... 25
... although fewer compete in the pension funds sector . 27
Protection-related life insurance . 28
Insurance market size and growth .. 28
Gross written premiums for protection-related life insurance peaked at EUR 2.13 billion in 2008 ... 28
Distribution share of banks .. 29
Bancassurance provision rates, operating models and partnerships ... 29
Risk life insurance 29
Two major banking groups each hold stakes in a pair of joint venture bancassurance entities ... 29
Some captive and joint venture firms have been successful in creating partnerships with external banks . 29
Recent years have seen both the creation and winding down of joint venture underwriters 30
A number of major banking entities ignore risk life insurance in favour of creditor policies .. 30
Critical illness insurance ... 32
Just three banking institutions offer policies with a significant critical illness component.. 32
Income protection insurance 34
Three major banking networks distribute income protection insurance 34
Assimoco is used as one of two providers by the Gruppo Bancario Raiffeisen as well as by ten local banks 34
Performance of key bancassurance underwriters .. 34
Accident and health insurance 36
Insurance market size and growth .. 36
Italy’s health insurance sector expands although accident insurance has begun to decline 36
Distribution share of banks .. 37
Banks have made significant progress as distributors in accident and health insurance . 37
Bancassurance provision rates, operating models and partnerships ... 38
Accident insurance ... 38
Accident insurance policies are sold by over a half of Italian banking institutions surveyed 38
Two captives and two joint ventures rank among the top five underwriters by weighted share of partnerships . 38
ACE European Group, Cattolica and Chiara Assicurazioni also hold significant relationships 38
Entities not distributing accident insurance include 23 with more than 250,000 retail customers 39
Medical expenses insurance 41
45% of banking entities researched in Italy are distributors of medical expenses insurance ... 41
By weighted share of partnerships, the five leading firms are either captives or joint ventures 41
Other captives include CBA Vita, Chiara Assicurazioni, Global Assistance and Mediolanum Assicurazioni .. 41
The status of an exclusive, non-captive provider is held by a relatively high number of underwriters . 41
A number of significant banking institutions have no arrangement in place for medical expenses cover ... 41
Health / hospital cash plans . 44
DKV Salute benefits from one major partnership in this field... .. 44
... and Europ Assistance from six 44
In addition to American Express, ACE European Group co-operates with a major specialised lender ... 44
Over 20 sizeable banking institutions have no visible partnership for health or hospital cash plans ... 44
Performance of key bancassurance underwriters .. 47
Bank-owned underwriters grew their total market share of accident cover in each year from 2006 to 2010... ... 47
... with a similar trend visible for health insurance, where Intesa Sanpaolo Assicura is the peer group leader ... 48
Personal motor and household insurance 49
Insurance market size and growth .. 49
Gross written premiums for personal motor insurance have been declining since 2007 . 49
Distribution share of banks .. 50
Banks manage progress in property insurance but struggle to make an impact in motor insurance... 50
Bancassurance provision rates, operating models and partnerships ... 51
Personal motor insurance 51
50 of the banking institutions surveyed are active in the distribution of personal motor insurance .. 51
By weighted share of partnerships, a captive and three joint ventures rank among the top five underwriters 51
Other providers with important relationships include Assimoco, Aviva Assicurazioni and Direct Line... .. 51
... plus the three underwriting brands belonging to the Reale Mutua grouping . 52
Entities not distributing motor insurance include 17 with more than 250,000 retail customers 52
Household insurance 54
Most banking institutions offering household cover do so in conjunction with a single, external underwriter .. 54
UniCredit persists with two bancassurance joint ventures for non-life insurance . 54
Joint ventures include ABC Assicura, Avipop, AXA MPS, Credem Assicurazioni and UBI Assicurazioni .. 54
As many as 25 different underwriters hold the status of an exclusive, non-captive provider ... 54
Lending institutions that do not sell household insurance are mainly those that do not offer mortgages 55
Performance of key bancassurance underwriters .. 57
Carige Assicurazioni holds the highest market share of the bank-owned underwriters in motor insurance... . 57
... and also in total property insurance 58
Creditor insurance . 59
Consumer lending market size and growth 59
Mortgage lending . 59
Italy’s residential mortgage market continues to grow although balances per capita remain low 59
Non-mortgage lending . 60
The compound annual growth rate for non-mortgage balances is slightly higher than that for mortgages . 60
Credit and other pay later cards .. 61
Italy’s market for credit and other pay later cards has stagnated in recent years . 61
Creditor insurance provision rates, operating models and partnerships ... 62
Creditor insurance linked to mortgages .. 62
Several lending institutions utilise hybrid operating models incorporating different types of underwriter... .. 62
... including the UniCredit grouping, which runs joint ventures with three separate partners ... 62
Other smaller captive and joint venture underwriters are also in evidence... 63
... as are over 20 external providers of mortgage-related creditor insurance with at least one relationship 63
Assimoco co-operates in this area with as many as 14 of the lending institutions investigated ... 64
Creditor insurance linked to consumer finance .. 66
Virtually all lending institutions that could offer this type of creditor insurance actually do so in practice . 66
By weighted share of partnerships, Cardif emerges as the second-ranked competitor ... 66
Among other specialist underwriters, ALICO and CACI are also relatively prominent . 66
As in several other countries, Banque PSA Finance makes use of a captive underwriter in this field . 66
The competition among non-captives is as fragmented and intense as it is for mortgage-related cover 66
Lending institutions with no arrangement in this area are all comparatively minor entities .. 67
Creditor insurance linked to credit cards . 69
Small and medium-sized banks tend not to have schemes for credit card payment protection insurance... .. 69
... because, typically, they are distributors rather than original issuers of credit cards .. 69
Nevertheless, 20 programs were identified among more significant competitors in the credit card sector . 69
Creditor insurance risk coverage . 71
Virtually all policies now available in Italy offer comprehensive risk coverage .. 71
Alternative distribution channels .. 72
Credit intermediaries and estate agency chains are also used for selling creditor insurance .. 72
Creditor insurance market size, growth and forecast . 73
All forms of creditor insurance are forecast to continue growing between 2011 and 2015 .. 73
Tabellenverzeichnis Marktanalyse - 'Bancassurance in Italy: Life, Non-Life and Creditor Insurance'
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY ... 1
Overview of bancassurance provision rates for different types of insurance in Italy, 2011 ... 2
1.0 INTRODUCTION 3
Banks and other lending institutions in Italy contacted by Finaccord, segmented by type 4
2.0 MARKET ANALYSIS ... 12
Gross written premiums for investment-related life insurance and retirement savings in Italy, 2006-2010 16
Gross written premiums for investment-related life insurance and retirement savings in Italy, 2006-2010 (data) . 16
Distribution share of bancassurance total life, 'class 1' life and unit-linked life insurance, and capitalisation bonds and pension funds in Italy, 2006-2010 (data) .. 17
Bancassurance provision of investment-related life insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships 21
Bancassurance provision of retirement savings in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 24
Market share in total life insurance of key bancassurance underwriters in Italy, 2006-2010 (data) 26
Market share in of key bancassurance underwriters in pension funds in Italy 2006-2010 (data) 27
Gross written premiums for protection-related life insurance in Italy, 2006-2010 . 28
Gross written premiums for protection-related life insurance in Italy, 2006-2010 (data) .. 29
Bancassurance provision of risk life insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 31
Bancassurance provision of critical illness insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 33
Bancassurance provision of income protection insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 35
Gross written premiums for accident and health insurance in Italy, 2006-2010 ... 36
Gross written premiums for accident and health insurance in Italy, 2006-2010 (data) 37
Distribution share of banks in total non-life, accident and health insurance in Italy, 2006-2010 (data) ... 37
Bancassurance provision of accident insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 40
Bancassurance provision of medical expenses insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 43
Bancassurance provision of health / hospital cash plans in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 46
Market share in accident insurance of key bancassurance underwriters in Italy, 2006-2010 (data) ... 47
Market share in health insurance of key bancassurance underwriters in Italy, 2006-2010 (data) .. 48
Gross written premiums for personal motor and household insurance in Italy, 2006-2010 . 49
Gross written premiums for personal motor and household insurance in Italy, 2006-2010 (data) .. 50
Distribution share of banks in total non-life, motor and property insurance in Italy, 2006-2010 (data) 50
Bancassurance provision of personal motor insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 53
Bancassurance provision of household insurance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 56
Market share in total motor insurance of key bancassurance underwriters in Italy, 2006-2010 (data) ... 57
Market share in of key bancassurance underwriters in total property insurance in Italy 2006-2010 (data) 58
Residential mortgage lending balances outstanding in Italy (absolute and per capita), 2006-2010 ... 59
Consumer non-mortgage lending balances outstanding in Italy (absolute and per capita), 2006-2010 . 60
Credit and other pay later cards issued and per capita in Italy, 2006-2010 .. 61
Key data points for the consumer lending market in Italy, 2006-2010 .. 62
Provision of creditor insurance linked to mortgages in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 65
Provision of creditor insurance linked to consumer finance in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 68
Provision of creditor insurance linked to credit cards in Italy, 2011: provision rate, operating models and weighted provider share of partnerships . 70
Risk coverage of creditor insurance policies in Italy, segmented by type of underlying product, 2011 .. 71
Creditor insurance gross written premiums in Italy, segmented by policy type, 2007, 2011 and 2015 (forecast) ... 73
Creditor insurance gross written premiums in Italy, segmented by cover type, 2007, 2011 and 2015 (forecast) ... 74
Creditor insurance gross written premiums in Italy, segmented by policy and cover type, 2007, 2011 and 2015 (forecast) (data) ... 74
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- Market Opportunities and Emerging Trends in the Prepaid Card Market in Sub-Saharan Africa
- Online Strategies of Banking and Insurance Companies in Brazil: Market Profile
- Online Strategies of Banking and Insurance Companies in China: Market Profile
- Online Strategies of Banking and Insurance Companies in India: Market Profile
- Online Strategies of Banking and Insurance Companies in Russia: Market Profile
- Insurance and Assistance linked to Payment Cards and Bank Accounts in Austria
- Insurance and Assistance linked to Payment Cards and Bank Accounts in Belgium
- Insurance and Assistance linked to Payment Cards and Bank Accounts in Denmark
- Insurance and Assistance linked to Payment Cards and Bank Accounts in Finland
- Insurance and Assistance linked to Payment Cards and Bank Accounts in France
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