AFFINITY INSURANCE SUMMER 2015

BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club

Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club!

Among the most innovative new partnerships in this latest edition of the Global Affinity Finance Club is that of insurance group Generali with mobile handset manufacturer Obi Worldphone which has the stated aim of reaching more than 10 million individuals across 20 high-growth countries by 2017. Specifically, the two parties will jointly develop a mobile insurance platform that will be embedded in Obi Worldphone’s devices. This will initially offered to customers in markets where there is a significant overlap in the operations of Generali and Obi Worldphone, including India, Indonesia, the Phil- ippines, Turkey, the UAE and Vietnam.

In addition, other new insurance-related deals to catch the eye were those of Assurant Solutions with eBay Motors (for extended warran- ties for new, used and refurbished automotive parts and accessories) and of MAPFRE Asistencia with Erasmus for student health and travel insurance.

Meanwhile, the automotive sector has witnessed a diverse range of new relationships in the most recent quarter for finance, insurance and warranty services. In alphabetical order according to the name of the provider, these have included those of Allianz with Maiden Insurance Partnerships (across multiple countries), of AXA with BlaBlaCar (again, at a multi-country level), of BNP Paribas Personal Finance with Kia (in Mexico), of FCA Bank with Hymer (across a number of European countries), of Intact with Uber (in Canada), of Santander with Volvo (in Germany), and of UK General with War- ranty Co (in the UK).

Alan Leach, Director [email protected]

For our published reports, news and more please visit www.finaccord.com Global Affinity Finance Club

Table of contents

Affinity Insurance LV= Broker joins Allianz on Warranty Co and UK General Towergate Underwriting house- collaborate for cover for wheel- ASSISTANCE 5 hold insurance panel 6 chair-accessible vehicles 8

Allianz Global Assistance works MOTOR INSURANCE 6 Assurant Solutions and eBay Mo- with BNP Paribas Cardif for re- tors form alliance for vehicle tirement-related assistance… 5 AXA enhances insurance for parts warranties 8 BlaBlaCar drivers 6 … and with Panasonic for ‘Smart The Warranty Group gains deal Home’ monitoring and control Intact Financial Corporation pre- with Motorola for cover linked to system 5 pares to work with Uber in Can- smartphones and wearable de- ada 6 vices 8 US home warranty provider chooses Nest as partner for con- Allianz provides telematics- TRAVEL INSURANCE 8 nected products 5 enabled insurance solution for Italian scooter sharing service 7 Allianz Global Assistance renews COMMERCIAL INSURANCE and enhances partnership with 5 Groupama secures manufacturer- easyJet… 8 branded affinity insurance link CNA wins insurance mandate with Mercedes-Benz 7 … opens up new travel insurance with Chicago-based business as- distribution channel with paxcon- sociation 5 LV= Broker gains appointment nect… 8 to Ingenie motor insurance panel IAG forges partnership with 7 … and works with Ctrip and newly-launched professional in- PICC for hotel cancellation cover demnity underwriting agency 5 NICHE INSURANCE 7 in China 9

EXPATRIATE AND STU- Ironshore establishes relationship ERV renews travel insurance DENT INSURANCE 5 with boat owners’ association 7 partnership with DER Tour- istik… 9 MAPFRE Asistencia wins deal to Allianz and Maiden Insurance supply expatriate cover to diplo- Partnerships expand relationship … and works with SmartWings mats from Equatorial Guinea… 5 for branded insurance 7 airline in the same field 9

Europ Assistance creates partner- … and to offer health and travel PRODUCT WARRANTIES / ship with SEAT Pagine Gialle for insurance to students participat- INSURANCE 7 proximity marketing 9 ing in Erasmus exchange pro- Allianz Global Assistance aug- gram 6 UK General ties with Accident & ments partnership with Mitsubi- General for travel insurance in shi in the UK… 7 HOUSEHOLD INSURANCE 6 Ireland 9

AXA explores household insur- … and is appointed as warranty RAC expands travel insurance ance opportunities with RWE in provider for Vauxhall approved offering through Hood Group Germany 6 used cars 8 and AXA 9

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GENERAL 9 Kotak Life Insurance expands Volvo in Germany 12 distribution reach in India Generali ties with Obi World- through bank merger 11 BNP Paribas Personal Finance phone to create mobile insurance rolls out commercial agreement platform 9 National Bank of Pakistan com- with Kia in Mexico 13 mences distribution of SLIC’s Wesleyan wins affinity deal for life insurance policies 11 FCA Bank initiates financial ser- financial advice with AHDS 10 vices joint venture with Hymer CommInsure works with Colo- 13 Bancassurance nial First State for post- retirement solutions 11 BUSINESS BANKING 13 CREDITOR INSURANCE 10 Jubilee Insurance enters into Santander increases focus on self CNP Assurances secures rela- partnerships with Imperial Bank -employed customers through tionship for mortgage-related and Rafiki Microfinance Bank 12 ATA and UPTA links 13 creditor insurance with ING Di- rect 10 PRODUCT WARRANTIES / CO-BRANDED CARDS 13 INSURANCE 12 LIFE INSURANCE 10 Scotiabank and GM roll out new WesBank and Hollard Insurance Visa-branded cards in Canada 13 AXA expands presence in Egyp- initiate joint venture to target the tian life and health insurance automotive trade 12 Alliance Data works for US loy- market through bancassurance alty and credit card programs deal 10 TRAVEL INSURANCE 12 with Toyota 13

Ageas and Muang Thai Life As- Allianz Global Assistance recon- Bank of America and Amtrak surance create bancassurance figures card-related travel cover launch new co-branded credit joint venture in Vietnam 10 for CommBank 12 cards 14

Bankinter and MAPFRE acquire GENERAL Chase Card Services extends co- Portuguese bancassurance unit branded credit card program from Barclays 10 Aviva becomes exclusive non-life with United Airlines 14 insurance provider to TSB 12 Manulife rolls out first Takaful AEON Credit Services works product with Bank Muamalat… Catholic Syrian Bank chooses with Japan Airlines for card tar- 11 ICICI Lombard for non-life ban- geting over-55 age group 14 cassurance deal 12 … signs bancassurance agree- INTERNATIONAL REMIT- ment with Maybank in Cambo- Affinity Banking 12 TANCES 14 dia… 11

AUTOMOTIVE FINANCE 12 HomeSend creates international ... and develops new life insur- money transfer partnership with ance product for Sumitomo Mit- Santander creates new finance Dialog Axiata… 14 sui Trust Bank 11 and leasing joint venture with

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Table of contents

… and links with Azimo for mo- PAYMENT CARD ISSUANCE Finaccord country reports bile money transfers in Africa and AND ACCEPTANCE 17 the Asia-Pacific region 14 Finaccord publishes a variety of Discover works with Creditcall to reports about the following coun- MOBILE / ONLINE PAY- target transportation, hospitality tries: MENTS 14 and retail sectors 17 Australia American Express rolls out new JCB expands internationally Austria online payment product with US through deals in five countries… Belgium merchants 14 18 Brazil Canada MasterCard and Visa collaborate … and works with Hua Nan China with multiple partners for mobile Bank for payment card targeting France payments 15 affluent customers in Taiwan 18 Germany India Visa signs up new merchants for UnionPay extends influence to Indonesia ‘Visa Checkout’ online payment Turkey through partnership with Italy service… 16 GarantiBank 18 Japan Malaysia … and forges partnership with Ecobank and MasterCard finalise Netherlands Stripe via financial investment 16 pan-African payment solutions Poland agreement 18 Romania Barclays ties with Verifone to ex- Russia pand reach of mobile and online RETAILER CARDS 19 South Africa payment app 16 Spain Synchrony Financial renews Switzerland Macy’s introduces PayPal for mo- credit card program deal with Turkey bile, online and in-store payments Mills Fleet Farm 19 UK 17 USA TRAVEL MONEY 19 Klarna wins first online payment Alternatively, to see our full list partnership in the US 17 Virgin Money partners with Trav- of reports organised by country, elex for new travel money service with more than 60 countries cov- Boku acquisition secures access 19 ered in total, please visit the to customers of four Italian mo- search-by-country page of our bile network operators 17 website at www.finaccord.com/ search-by-country.htm . HypoVereinsbank works with SUMUP for mPOS payments in Germany 17

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Affinity Insurance News Home’ monitoring and control panies, ranging from start-ups to system with home protection venture capital firms. The part- ASSISTANCE services provided by Allianz nership allows Built In Chicago Global Assistance. The system members to take advantage of Allianz Global Assistance consists of a set of intelligent CNA’s policies and services, works with BNP Paribas Car- devices that includes an indoor which cater especially for dif for retirement-related as- siren, as well as sensors for win- emerging technology-related sistance… dows, doors, water leaks, and risks. broken glass. These are con- In France, Mondial Assistance nected to a central hub located IAG forges partnership with (the trading name in that coun- in the home or property, which newly-launched professional try of Allianz Global Assistance) is linked to the Allianz customer indemnity underwriting and BNP Paribas Cardif have hotline. agency partnered to offer personalised retirement planning and assis- US home warranty provider In Australia, IAG has created a tance. The www.la-retraite-en- chooses Nest as partner for strategic partnership with Pacific clair.fr website, which was connected products Indemnity, a new underwriting launched by BNP Paribas Cardif agency that specialises in profes- in 2010 and had almost 2 mil- In the US, TotalProtect has sional indemnity insurance lion visitors in 2014, will be used signed an agreement with tech- products, whereby it will assume to provide information and fi- nology firm Nest to offer the some of the risks underwritten nancial advice concerning retire- latter's smoke and carbon mon- by Pacific Indemnity. ment. The website will also be oxide alarms as a free addition ______linked to a new Mondial Assis- to its comprehensive home war- tance website that will deliver ranty plans. According to Total- EXPATRIATE AND STU- bespoke solutions such as re- Protect, the alarms, which are DENT INSURANCE constructing an individual’s ca- connected to the customer's reer history in order to facilitate mobile phone, are part of the MAPFRE Asistencia wins accurate pension calculations. trend towards the increased use deal to supply expatriate of connected products in the cover to diplomats from … and with Panasonic for home. Equatorial Guinea… ‘Smart Home’ monitoring ————————————-- and control system By means of an agreement with COMMERCIAL INSURANCE EGICO (Equatorial Guinean In Germany, Allianz Global As- Insurance Company) and with sistance and Panasonic have CNA wins insurance man- the intermediation of Aon Ben- launched an integrated solution date with Chicago-based field Iberia, MAPFRE Asisten- that protects homes from break- business association cia has established a route for ins and minimises damage distributing its ‘Global Expat’ caused by water leaks plus glass In the US, CNA has been ap- expatriate health and travel in- and window breakage. Specifi- pointed as the commercial in- surance policy to over 400 dip- cally, the Panasonic Smart surance partner for Built In Chi- lomats from Equatorial Guinea, Home & Allianz Assist service cago, an online enterprise that all of whom are employees of connects Panasonic’s ‘Smart represents and works with more the country’s Ministry of For- than 3,200 Chicago-based com-

www.finaccord.com 5 Global Affinity Finance Club Affinity Insurance eign Affairs and who are present HOUSEHOLD INSURANCE ______in over 20 countries. In addition to offering health cover in both AXA explores household in- MOTOR INSURANCE Equatorial Guinea itself and surance opportunities with destination countries, ‘Global RWE in Germany AXA enhances insurance for Expat’ also incorporates health BlaBlaCar drivers assistance benefits such as sup- In Germany, AXA has agreed to ply of medicines in urgent situa- a pilot scheme to test a new In three European countries, tions and second opinions, plus smart device developed by the drivers of ride-sharing service travel insurance in further coun- utilities firm RWE. When the BlaBlaCar are now covered by tries. device is installed in a home, it additional insurance from AXA detects water leaks and auto- at no extra cost to them. This … and to offer health and matically shuts down the water comprises not only road assis- travel insurance to students supply, alerting both the cus- tance, which guarantees that participating in Erasmus ex- tomer and AXA, which in turn customers arrive at their destina- change program contacts the customer to ar- tion, but also insurance for driv- range an appointment for the ing accidents, legal fees and the Through a deal covering as repair. If successful, this device cost of posting articles left be- many as 18 European countries could tie RWE's water custom- hind to customers, in addition from July 2015, MAPFRE Asis- ers to AXA, and would also en- to the cover afforded by drivers' tencia has begun working with able AXA to offer household mandatory motor insurance. the EU’s student exchange pro- cover to customers who have This partnership began in gram Erasmus to offer health been refused insurance because France and the UK in May 2015 and travel insurance cover to of previous water damage n and was extended to Spain in more than 250,000 students their homes. August 2015. each year. This insurance com- prises a number of modules, LV= Broker joins Allianz on Intact Financial Corporation including cover for medical ex- Towergate Underwriting prepares to work with Uber in penses incurred abroad in the household insurance panel Canada event of accident or illness, for transport and accommodation In the UK, LV= Broker has In Canada, Intact Financial Cor- expenses incurred by relatives in joined Towergate Underwrit- poration has announced plans the event of hospitalisation, for ing's household insurance panel to develop and market insurance theft of mobile gadgets or alongside Allianz as part of an products for the operations in phones and for repatriation, and agreement that began at the start that country of driving and ride- the plan is to extend it to further of July 2015 and that will run sharing service Uber. In this re- countries before the end of the for an initial term of five years. spect, it is working closely with year. MAPFRE Asistencia is LV= Broker will provide under- insurance regulators and differ- using InsureandGo, its online writing capacity for the standard ent levels of government in travel insurance platform, for household risks dealt with by provinces where Uber is cur- this purpose and the service in- Towergate Underwriting, and rently active. cludes multi-lingual phone sup- has already been working with port on a 24/365 basis. this company for other personal ______lines products since 2008.

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Allianz provides telematics- and theft insurance as well as excursions, captain and crew enabled insurance solution additional services such as road liability, and navigation exten- for Italian scooter sharing assistance and a replacement sions to the Bahamas and Turks service car. and Caicos Islands, among other destinations. Working in partnership with LV= Broker gains appoint- Allianz, the Italian driving ride- ment to Ingenie motor insur- Allianz and Maiden Insur- sharing service Eni-Enjoy has ance panel ance Partnerships expand re- added a new fleet of 150 scoot- lationship for branded insur- ers to its existing fleet of cars. In In the UK, LV= Broker has ance this context, Allianz has co- been selected to join a panel of operated with Octo Telematics, insurers appointed by Ingenie, Across Europe as a whole, the an insurance telematics service which is an intermediary of global automotive division of provider, to devise an integrated telematics-enabled car insurance Allianz and Maiden Insurance technical solution that meets the aimed at younger drivers. The Partnerships have expanded a insurance demands of the panel already includes other un- long-standing relationship fo- scooter sharing service. derwriters such as Ageas, Covéa cused on developing branded and RSA. LV= Broker began insurance solutions for automo- Video cameras mounted on the underwriting telematics-enabled tive manufacturers and their front and back of the scooter insurance policies for the broker customers across Europe. The will record the ten seconds prior market in 2013 and is currently terms of the renewed agreement to and following any accident working with a number of bro- include a re-insurance quota thus increasing transparency and ker partners in addition to this share, which means that Allianz expediting the claims process. panel appointment. will participate in a portion of Allianz will also provide Eni- ______Maiden’s reinsurance portfolio. Enjoy customers with compre- Products in scope include credi- hensive insurance, which entails NICHE INSURANCE tor and GAP cover as well as cover for third-party liability, motor insurance. fire and theft, collision damage, Ironshore establishes rela- ______vandalism and personal acci- tionship with boat owners’ dent. association PRODUCT WARRANTIES / INSURANCE Groupama secures manufac- In the US, specialty insurer turer-branded affinity insur- Ironshore has introduced a new Allianz Global Assistance ance link with Mercedes- boat and yacht insurance pro- augments partnership with Benz gram in collaboration with the Mitsubishi in the UK… National Boat Owners Associa- In Romania, Groupama and tion (NBOA). The Ironshore In the UK, Allianz Global As- Mercedes-Benz have created a Premier Watercraft program, sistance has introduced a new manufacturer-branded motor which will be offered exclusively extended warranty scheme for insurance policy that is available by the NBOA and provides customers buying Mitsubishi from all of the manufacturer’s comprehensive cover for water- vehicles. The ‘Mitsubishi Assis- dealerships in the country. craft valued below USD tance Package+’ product allows Cover includes vehicle damage 750,000, encompasses cover for for instant online quotes and is sport fishing, occasional charter available for all vehicles up to

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100,000 miles and regardless of Assurant Solutions and eBay TRAVEL INSURANCE any pre-existing cover held. The Motors form alliance for vehi- warranty comprises three levels cle parts warranties Allianz Global Assistance re- of cover and can be paid for news and enhances partner- either on a one-off basis for one In the US, eBay Motors has ship with easyJet… year or on a monthly basis. started offering its customers access to extended warranties In Europe, Allianz Global As- … and is appointed as war- from Assurant Solutions for sistance and easyJet have re- ranty provider for Vauxhall new, used and refurbished auto- newed their partnership for approved used cars motive parts and accessories. travel insurance for another Specifically, customers can three years having already col- Also in the UK, Network Q, choose between a one-year or laborated in this field for 12 Vauxhall's branded network of two-year plan for mechanical years. Under the new agreement, dealers for approved used cars, and electrical failures for new Allianz Global Assistance will has chosen Allianz Global As- automotive parts, and between a provide both single-trip and an- sistance as the sole supplier of six-month plan and a one-year nual policies incorporating its warranty services. The new one for used or refurbished missed-flight cover to easyJet agreement also allows Network parts. The plans include a clause customers across Europe. easy- Q retailers to use the Vauxhall- that allows cancellation at any Jet reported that it flew 64.8 branded warranty extranet to time as well as a full refund million passengers in 2014, a administer warranty registrations within the first 30 days of sub- 6.6% increase in comparison to and claims submissions. scription. According to eBay the previous year. Motors, it sells around 180 indi- Warranty Co and UK General vidual automotive parts or ac- … opens up new travel insur- collaborate for cover for cessories every minute. ance distribution channel wheelchair-accessible vehi- with paxconnect… cles The Warranty Group gains deal with Motorola for cover In Germany, Allianz Global As- Again in the UK, the Warranty linked to smartphones and sistance has announced that it is Co has announced that it has wearable devices now offering its travel insurance begun working with UK Gen- policies through paxlounge, a eral to design an extended war- Also in the US, The Warranty B2B travel booking system op- ranty specifically for the drivers Group has won a deal to offer erated by paxconnect that is of wheelchair-accessible vehicles customised service plans to cus- used by over 2,800 organisations (WAVs). WAVs are vehicles tomers with Motorola smart- including travel agencies. The that have been specially con- phones and wearable devices. arrangement means that person- verted so that wheelchair users The plans, which are being un- alised insurance cover under- can either drive or be passengers derwritten by The Warranty written by Allianz Global Assis- without having to leave their Group’s wholly-owned insur- tance will be offered and sold wheelchairs. The cover is de- ance subsidiary Virginia Surety along with tickets and holidays. signed to manage and fund the Company, also include cover for repair process if a WAV breaks accidental damage. down because of mechanical or ______electrical fault.

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… and works with Ctrip and the Czech Republic, the arrange- UK General ties with Acci- PICC for hotel cancellation ment also applies to flights dent & General for travel in- cover in China booked from France, Italy, Slo- surance in Ireland vakia and Spain. Meanwhile, in China, Allianz In Ireland, UK General has be- Global Assistance has entered According to ERV Evropská, gun working with Dublin-based into an agreement with travel following the pilot launch of the broker Accident & General In- booking website Ctrip and scheme in mid-2014 in the surance Services to sell travel PICC (the People's Insurance Czech Republic and Slovakia, it insurance through travel agents Company of China) to launch generated premiums of CSK 1.8 and tour operators. The policies hotel cancellation insurance. million, with a ratio of sales to are utilising the capacity of the The policy covers the cost of flight bookings of around 10%. insurer’s Irish branch. the booking in the event of un- ERV Evropská has also an- expected illness, flight delays, nounced that it plans to work RAC expands travel insur- work-related changes of plans with Czech Airlines, in which ance offering through Hood and other factors, and can be Travel Service, the holding com- Group and AXA selected by the customer when pany of SmartWings, also holds booking through Ctrip. a significant equity stake. In the UK, the RAC has added new policies to its travel insur- ERV renews travel insurance Europ Assistance creates ance offering which is under- partnership with DER Tour- partnership with SEAT written by AXA and designed in istik… Pagine Gialle for proximity partnership with affinity insur- marketing ance specialist Hood Group. In Germany, travel insurer The new policies feature three ERV, a subsidiary of ERGO In Italy, Europ Assistance has levels of cover as well as an in- and therefore owned ultimately begun a partnership with SEAT crease in age limits for single- by Munich Re, has signed a dis- Pagine Gialle by means of which trip and annual policies to 85 tribution agreement with travel a geolocation-based app de- years and a wider range of op- company DER Touristik, con- signed by the latter (which has tional add-ons covering specific tinuing an existing partnership nearly 4 million users) will notify activities such as cruises and for a further five years. users when they are near a dis- weddings abroad, plus cover for tributor of travel insurance un- mobile gadgets while abroad. … and works with derwritten by Europ Assistance. ______SmartWings airline in the In this circumstance, the app same field will send promotional coupons GENERAL for the assistance firm’s ‘Nostop Moreover, ERV Evropská, the Vacanza’ travel insurance prod- Generali ties with Obi World- branch of ERV in the Czech uct. By means of this partner- phone to create mobile insur- Republic, has signed a two-year ship, Europ Assistance is hop- ance platform agreement with Czech budget ing to learn more about the ef- airline SmartWings to offer the fectiveness of proximity market- Generali has signed an agree- latter’s customers comprehen- ing. ment with mobile handset sive travel insurance as part of manufacturer Obi Worldphone the booking process. Aside from with the aim of reaching more than 10 million individuals

www.finaccord.com 9 Global Affinity Finance Club Bancassurance across 20 high-growth countries insurance for its online mort- 2012 and 2014. Moreover, it had by 2017. Both parties will jointly gage products following a com- a market share of around 15% develop a mobile insurance plat- petitive tender. CNP Assurances of Egypt’s life insurance market form that will be embedded in cited its combination of simple which means that AXA will rap- Obi Worldphone’s devices. The products, competitiveness, wide idly expand its position in the platform is based on native apps coverage and online expertise as country. included in the standard set-up key factors in winning this man- of the mobile devices, and will date. Ageas and Muang Thai Life be initially offered to customers ______Assurance create bancassur- in markets where there is a sig- ance joint venture in Vietnam nificant overlap in the opera- LIFE INSURANCE tions of both Generali and Obi In Vietnam, Ageas and Muang Worldphone, including India, AXA expands presence in Thai Life Assurance have signed Indonesia, the Philippines, Tur- Egyptian life and health in- an agreement with the Military key, the UAE and Vietnam. surance market through ban- Commercial Bank to form a cassurance deal joint venture which will be Wesleyan wins affinity deal branded MB Ageas Life. Under for financial advice with In Egypt, AXA has agreed to a the terms of the agreement, AHDS ten-year exclusive bancassurance which will entail exclusivity for deal for health, protection- 15 years, Ageas will have an eq- In the UK, the Association of related life and unit-linked life uity stake of 29% in the new Headteachers & Deputes in insurance with Commercial In- company with Muang Thai Life Scotland (AHDS) has appointed ternational Bank (CIB), a lead- Assurance holding 10% and the Wesleyan, a company focusing ing private-sector bank in the bank 61%. The total capital in- on the provision of financial country. This deal has been con- vestment for the three partners services to particular profes- cluded through the acquisition will amount to around EUR 46 sional groups, as its partner for by AXA of 100% of the share million. Subject to regulatory offering financial advice to its capital of Commercial Interna- approvals and customary closing members. tional Life (CIL) for a consid- conditions, the transaction is ______eration of approximately EUR expected to be completed by the 88 million. Previously, CIL had end of 2015 with MB Ageas Life Bancassurance been configured as a joint ven- expected to commence opera- ture co-owned by CIB and Legal tions in 2016. CREDITOR INSURANCE & General. Bankinter and MAPFRE ac- CNP Assurances secures re- At the time of the transaction, quire Portuguese bancassur- lationship for mortgage- the bank had approximately ance unit from Barclays related creditor insurance 628,000 retail customers and with ING Direct 60,000 corporate customers Spain-based bancassurance part- served through 166 branches. ners Bankinter and MAPFRE In France, ING Direct, which Meanwhile, CIL secured premi- have announced that they will has nearly 1 million clients in ums of EUR 82.5 million in acquire the life insurance and that country, has selected CNP 2014 having achieved a com- pensions business of Barclays in Assurances to provide creditor pound annual rate of growth of Portugal – Barclays Vida y Pen- this measure of 23% between

www.finaccord.com 10 Global Affinity Finance Club Bancassurance siones – for a consideration of that will allow it to sell life insur- was strongest. Kotak Life Insur- around EUR 75 million. This ance to Maybank’s customers ance reports that it secures transaction is being carried out across the country. The distribu- about 45% of its total business through their own life insurance tion partnership is Maybank’s to bancassurance and that this joint venture, Bankinter Seguros first with a life insurer in Cam- percentage is expected to con- de Vida. Barclays Vida y Pen- bodia and is Manulife’s second tinue moving up further in fu- siones secured premiums of bancassurance deal in the coun- ture years. around EUR 150 million in Por- try since it began operations tugal in 2014, equivalent to a there in 2012. National Bank of Pakistan market share of 1.4% of the commences distribution of country’s life insurance and pen- ... and develops new life in- SLIC’s life insurance policies sions market, generating a net surance product for Sumi- profit of EUR 12.7 million. tomo Mitsui Trust Bank In Pakistan, the National Bank of Pakistan (NBP) has signed a Manulife rolls out first Taka- In Japan, Manulife and Sumi- tripartite agreement with the ful product with Bank Mua- tomo Mitsui Trust Bank have State Life Insurance Corpora- malat… launched ‘Wrap Partner’ as a tion (SLIC) and Global Bancas- single premium variable whole surance Services (GBS) that will In Indonesia, Manulife and of life insurance policy with op- see SLIC’s insurance products Bank Muamalat have launched a tions to make investments in being distributed through its new sharia-compliant, unit- different foreign currencies. It branches. SLIC is the only pro- linked regular savings plan also provides customers with vider of conventional life prod- (‘Zafirah Save Link’) which is the option to receive investment ucts in the country and its poli- the first initiative under their income in Japanese Yen and / cies are guaranteed by the gov- jointly-developed ‘Zafirah ban- or to receive investment in- ernment. cassurance brand. The launch come. marks the beginning of a long- CommInsure works with Co- term strategic partnership be- Kotak Life Insurance ex- lonial First State for post- tween the two companies, fol- pands distribution reach in retirement solutions lowing an earlier memorandum India through bank merger of understanding created in No- In Australia, CommInsure, the vember 2014, and it is antici- In India, the merger of ING life insurance business of Com- pated that further mass-market, Vysya Bank with Kotak Mahin- monwealth Bank, has launched sharia-compliant products will dra Bank is predicted to signifi- a new range of post-retirement be introduced subsequently in cantly benefit the latter’s life products utilising the Colonial the areas of mortgage and term insurance subsidiary. In particu- First State’s ‘FirstChoice’ and life. lar, the move means that Kotak ‘FirstWrap’ platforms. Com- Life Insurance can now use the mInsure reports that it is an im- … signs bancassurance branches of the combined en- portant milestone as its financial agreement with Maybank in tity, which number around advisers will be granted access Cambodia… 1,200, to sell its life insurance via retail platforms for the first products, thereby increasing its time to a broader range of post- In Cambodia, Manulife has en- distribution reach in southern retirement solutions over and tered into a bancassurance deal India, where ING Vysya Bank above traditional annuities.

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Jubilee Insurance enters into TRAVEL INSURANCE where in the market. partnerships with Imperial Bank and Rafiki Microfi- Allianz Global Assistance re- Catholic Syrian Bank chooses nance Bank configures card-related travel ICICI Lombard for non-life cover for CommBank bancassurance deal In Kenya, Jubilee Insurance has entered into partnerships with In Australia, CommBank has In India, insurer ICICI both Imperial Bank and Rafiki announced an innovative part- Lombard has tied with Catholic Microfinance Bank to distribute nership with Allianz Global As- Syrian Bank (CSB) to sell its life insurance products. Both sistance to offer customers with products through the bank’s 431 agreements are expected to its Gold, Platinum and Dia- branches. By means of the boost Jubilee’s burgeoning ban- mond credit cards a reconfig- agreement, ICICI Lombard will cassurance operations and to ured travel insurance proposi- offer both personal and com- generally increase insurance tion with no minimum spend mercial general insurance prod- penetration in Kenya which requirements. Customers can ucts to the bank's customer base currently lies at less than 4% of activate the comprehensive in Karnataka, Kerala, Maharash- the country’s population. travel cover online and can also tra and Tamil Nadu, which is ______opt to buy additional benefits composed of SMEs in addition such as cruise and snow cover to individual consumers. PRODUCT WARRANTIES / plus increased rental vehicle ex- ______INSURANCE cess cover at a competitive price. Affinity Banking WesBank and Hollard Insur- ______ance initiate joint venture to AUTOMOTIVE FINANCE target the automotive trade GENERAL Santander creates new fi- In South Africa, WesBank, a Aviva becomes exclusive non- nance and leasing joint ven- division of FirstRand, has an- life insurance provider to TSB ture with Volvo in Germany nounced that it will formalise its long-standing relationship with In the UK, Aviva has an- In Germany, Santander Con- Holland Insurance through the nounced that its UK general sumer Bank and automotive formation of a new holding insurance business has signed an manufacturer brand Volvo have company. The joint venture will exclusive seven-year distribution created a new joint venture fi- offer insurance products rele- agreement with TSB potentially nance company, Volvo Cars Fi- vant to the automotive trade. for its entire product offering nancial Services (VCFS) Ger- Motorite has been appointed to across commercial, household, many, having already co- provide extended warranties and motor, travel and pet cover. In operated for automotive finance prepaid service contracts to the relation to household insurance, since the beginning of January joint venture with SMART used the 4.7 million customers of 2012 through a commercial dis- for minor damage insurance. TSB (a bank acquired by Banco tribution agreement. The pri- ______Sabadell in June 2015) will gain mary focus of the new joint ven- access to a new modular prod- ture will be on high-quality leas-

uct which it believes will be dif- ing products which will become

ferent to the one-size-fits-all available from the beginning of approach normally seen else-

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2016. Volvo recorded growth of Europe’s largest producer of funds had already been made around 11% during the first motorhomes and caravans, have available to members of the two seven months of 2015 relative announced the creation of Er- associations through around to the equivalent period in 2014, win Hymer Group Finance by 25,000 individual transactions and is aiming to expand its share means of which a comprehen- with an average value of around of new car sales in Germany to sive range of financial services EUR 30,000. 2%. will be offered to both Hymer’s ______dealers and customers. These BNP Paribas Personal Fi- will include financial and opera- CO-BRANDED CARDS nance rolls out commercial tional leasing solutions plus in- agreement with Kia in Mex- surance in addition to traditional Scotiabank and GM roll out ico loans. new Visa-branded cards in ______Canada In Mexico, BNP Paribas Per- sonal Finance and Kia Motors BUSINESS BANKING In Canada, Scotiabank and auto- are in the final stages of activat- motive manufacturer GM have ing an exclusive commercial Santander increases focus on further enhanced their strategic agreement between them that self-employed customers partnership by jointly designing was signed in May 2015. In the through ATA and UPTA and launching a suite of Visa first stage, 21 Kia dealers in links credit cards that aim to allow Mexico will be able to offer fi- customers to earn enough loy- nancing solutions developed by In Spain, Santander has an- alty points to purchase a car. BNP Paribas Personal Finance nounced that it will increase by to their customers, with whole- EUR 500 million to EUR 1.5 Alliance Data works for US sale finance also made available billion the finance facility that it loyalty and credit card pro- to dealers. has made available to self- grams with Toyota employed individuals since Feb- Indeed, BNP Paribas Personal ruary 2015 through agreements In the US, Alliance Data has Finance has prioritised the auto- with two trade associations fo- signed a new long-term agree- motive sector as a market for cused on this constituency, ment to provide private-label strategic development, since it is namely ATA (the Federación credit card services and to as- believed to account for about a Nacional de Asociaciones de sume management of an exist- half of all consumer credit glob- Trabajadores Autónomos) and ing co-brand card program for ally, and it aims to have built up UPTA (the Unión de Profesion- Toyota. This deal also entails outstanding balances worth in ales y Trabajadores Autóno- running the related loyalty the region of EUR 15 billion in mos). Moreover, members of scheme by means of which this field by 2016. these associations will also be cardholders are rewarded with able to take out the bank’s points for every purchase that FCA Bank initiates financial ‘1|2|3’ current account which, they make from the Toyota and services joint venture with among other benefits, pays in- Lexus brands, including acquisi- Hymer terest of 3% on credit balances tion of parts and vehicle servic- of between EUR 3,000 and ing. These points can then be As part of a Europe-wide agree- EUR 15,000. At the time of the redeemed towards additional ment, FCA Bank and Hymer, increase in the finance facility, products or services from the more than EUR 750 million in two brands including vehicles.

www.finaccord.com 13 Global Affinity Finance Club Affinity Banking

Bank of America and Amtrak for customers aged over 55. a partnership with Azimo that launch new co-branded credit Specifically, the JMB WAON will extend mobile money trans- cards card, which is designed and op- fers to ten countries, namely erated by AEON Credit Service, Armenia, Burkina Faso, Fiji, Also in the US, Amtrak, a major comes with an e-money func- Ghana, Indonesia, Kenya, Ne- railway operator, has introduced tion that is aimed at making air pal, Nigeria, the Philippines and two new co-branded credit travel more convenient for older Somaliland. This arrangement cards featuring a new loyalty fliers. will allow Azimo's customers in program (Amtrak Guest Re- ______20 European countries to send wards) in conjunction with Bank funds to mobile money ac- of America and MasterCard. INTERNATIONAL REMIT- counts in these ten countries, Amtrak passengers who take out TANCES using HomeSend's global remit- one of these cards are entitled to tance hub service. a complimentary coupon for a HomeSend creates interna- ______travel companion, a one-class tional money transfer partner- upgrade and a 5% rebate on fu- ship with Dialog Axiata… MOBILE / ONLINE PAY- ture Amtrak travel, in addition MENTS to earning three Guest Rewards In Sri Lanka, HomeSend, a joint points for every USD 1 spent venture co-owned by BICS, American Express rolls out with Amtrak. Customers who eServGlobal and MasterCard, new online payment product spend at least USD 1,000 with has rolled out a partnership with with US merchants Amtrak within 90 days of open- telecoms firm Dialog Axiata to ing their account will also re- provide international remittance In the US, American Express ceive 20,000 Guest Rewards services to 14 million customers. has launched a new online pay- points. Dialog Axiata is responsible for ment system (‘Amex Express the mobile money service eZ Checkout’) which allows card- Chase Card Services extends Cash which operates through a holders to pay online using a co-branded credit card pro- network of over 16,000 physical single account login and pass- gram with United Airlines transaction points in the coun- word. This payment tool is not a try. The new agreement allows digital wallet and does not re- Meanwhile, Chase Card Ser- eZ Cash accounts to receive in- quire cardholders to create a vices, United Airlines and Visa ternational money transfers new account. Rather, it transfers have announced the multi-year through the HomeSend remit- account information to the mer- extension of the ‘MileagePlus’ tance hub. At launch, five chant through a token and auto- co-branded credit card program money transfer companies – fills account information in real which has already been active Azimo, Lycaremit, mHits, Post- time, meaning that account de- for more than 20 years. Finance and WorldRemit – had tails do not need to be manually all signed up to the service. updated. AEON Credit Services works with Japan Airlines for card … and links with Azimo for At launch, the system could be targeting over-55 age group mobile money transfers in used at the websites of BarkBox, Africa and the Asia-Pacific Burberry, Ledbury, Newegg, In Japan, Japan Airlines has un- region Sabon, Ticketmaster, Warby veiled a new co-branded card Parker and The Wall Street HomeSend has also announced Journal, and plans were afoot to

www.finaccord.com 14 Global Affinity Finance Club Affinity Banking extend it to other merchants Zizzi restaurant chains to offer In related news, Visa Europe is including Avis Car Rental, Ba- direct payment of bills through co-operating with Apple for the nana Republic, Cole Haan, Gap, the Qkr! mobile phone app. launch of Apple Pay in the UK, Hulu, Intermix, Old Navy, This follows on from an existing allowing iPad, iPhone and Apple POPSUGAR Must Have, Rock- partnership with another restau- Watch users to make contactless etmiles and 1-800- rant chain, Wagamama, created payments at around 250,000 FLOWERS.COM. In addition, at the time of the app's launch. locations. Lloyds Banking American Express also plans to Group, MBNA, the Nation- make the service available In addition, MasterCard is also wide, RBS, Santander and Ulster through the Stripe payments in talks to launch Samsung Pay Bank have also established part- platform. as a payment option for its nerships with Apple Pay. European customers. The digital MasterCard and Visa collabo- wallet system has already been MasterCard extends reach of rate with multiple partners for launched in South Korea and MasterCard digital wallet to mobile payments the USA. new territories

At a worldwide level, Master- In a reciprocal development, During the most recent quarter, Card has entered into several Google and Samsung have MasterCard has also extended partnerships to promote mobile signed up as the first partici- the international reach of its payments in conjunction with pants in MasterCard’s digital MasterPass digital wallet prod- the use of its cards. In the US, it enablement program in the US. uct through initiatives in a num- has partnered with Google for This new program aims to grant ber of regions and countries. its contactless payment product users quicker and more efficient Android Pay which allows card- access to Android Pay by For example, it has launched holders to make purchases using streamlining the participation officially in Brazil through part- Android devices. Google an- process for issuing banks, allow- nerships with Caixa Econômica nounced at the time of launch ing MasterCard accounts to be Federal and the Porto Seguro that the product could be used digitised and tokenised for con- insurance company and through at around 1 million retail stores tactless payment. Banks joining being accepted by a number of with the number continuously the system at launch included prominent e-commerce compa- increasing. Capital One, Fifth Third Bank nies including CNova group, and KeyBank. Máquina de Vendas, The Beauty Moreover, in the UK, Master- Box and Tray Shopping. More- Card has provided immediate Samsung has also partnered over, in Hong Kong, Master- access for its cardholders to Ap- with Visa for the launch of its Pass has been introduced in ple Pay which allows users of Samsung Pay mobile payment partnership with Bank of East Apple iPhones and watches to service, allowing Samsung Pay Asia, China Construction Bank, make contactless payments at to make use of the ‘Visa Token Dah Sing Bank and DBS Bank, over 250,000 merchants in the Service’. In addition, the ar- with payments accepted at country, as well as enabling pay- rangement means that financial online merchants including ments within apps using iPad institutions will be able to offer Broadway Circuit and Zuji. and iPhone devices. Also in the Samsung Pay to their customers UK, MasterCard has partnered through Visa’s digital enable- MasterCard has also expanded with the ASK, Carluccio’s and ment program. the reach of MasterPass through

www.finaccord.com 15 Global Affinity Finance Club Affinity Banking partnerships with transportation Visa signs up new merchants velopment Bank were reportedly and travel companies elsewhere for ‘Visa Checkout’ online the first issuers in the world to in the Asia-Pacific region plus payment service… launch mobile app online provi- Canada and South Africa. Mer- sioning within their own bank- chants that have begun accept- In the same field, Visa has an- ing apps. ing MasterPass include Hong nounced that over 30 major Overall, Visa has reported that Kong Airport Express Line, merchants have signed up to its nearly 250,000 merchants Singapore Airlines, Taiwan High ‘Visa Checkout’ online payment worldwide offer Visa Checkout Speed Rail and travel agent Zuji product. These are: Best Buy, and that it has built up more in the Asia-Pacific region, Can- Barnes & Noble, Barnes & No- than 6 million registered users ada's national rail network VIA ble College, Clé de Peau Beauté, during the first year following its Rail and airline WestJet, as well delivery.com, EllenShop.com, launch. as Mango Airlines, South Afri- JustFab, LivingSocial, Shiseido, can Airways and the Legacy Ho- ShoeDazzle, Shutterfly, Sport … and forges partnership tels and Resorts Group in South Chalet Mobile, StudentUniverse, with Stripe via financial in- Africa. Taco Bell, Title Nine, Under vestment Armour and zulily in the US; MasterPass has also been intro- Event Cinemas, Hoyts, Moshtix, In related news, Visa and Stripe duced in India through a part- The Roses Only Group, Tick- have announced a partnership nership with Citibank with the etek and Village Cinemas in aimed at developing online pay- bank stating that it has seen the Australia; Grand & Toy and ment services globally. As part number of online transactions Heart and Stroke Foundation in of the arrangement, Visa has by its customers in India in- Canada; and Archies, Agro- made an investment in Stripe, a crease by 76% over a two-year campo, BabyMarket, Ca- company that helps merchants period with around 41% of Citi- rulla.com, Exito.com, Fala- to accept payments online and bank card transactions in the bella.com, Myriam Camhi and in mobile apps, and Stripe's de- country now carried out online. Unicef in Colombia. veloper community has gained access to Visa's payment and Meanwhile in Europe, Master- In addition, Visa has also dis- risk management services as Pass has begun being accepted closed that more financial insti- well as its tokenisation and secu- by the Media Markt and Saturn tutions have begun to offer rity technologies. retail brands in Austria, Bel- ‘Visa Checkout’ to merchants. gium, Germany, Greece, Italy These include five China-based Barclays ties with Verifone to and the Netherlands. Overall, banks (Bank of Guangzhou, expand reach of mobile and MasterCard has reported that China Everbright Bank, China online payment app transactions using MasterPass Merchants Bank, China Min- increased at an average of 40% sheng Bank and Shanghai Pu- In the UK, Barclays and pay- every month between March dong Development Bank) and ments firm Verifone are col- and September 2015 in Europe. five banks in the UAE (Dubai laborating to promote the use of Islamic Bank, Emirates Islamic Pingit, Barclays’ online payment Bank, Emirates NBD, Majid Al app, as a payment means for Futtaim Finance and Mashreq). retailers using Verifone’s Among these, China Merchants ‘PAYware Ocius’ gateway. This Bank and Shanghai Pudong De- agreement means that Veri-

www.finaccord.com 16 Global Affinity Finance Club Affinity Banking fone’s managed service clients in to key in their payment creden- Italy across the TIM, Tre Italia, the UK, which number around tials, usernames or passwords. Vodafone and Wind network 20,000, can join the approximate Meanwhile, in-store customers operators. number of 70,000 businesses will be able to use a payment already using Pingit. Customers code issued by their PayPal app HypoVereinsbank works with do not have to bank with Bar- to scan QR codes to their mo- SUMUP for mPOS payments clays to use Pingit which gener- bile devices in order to complete in Germany ates instantaneous payments to their purchase. retailers. Looking ahead, the two In Germany, HypoVereinsbank partners have stated that they Klarna wins first online pay- (a member of the UniCredit will investigate broadening the ment partnership in the US banking group) and SUMUP, a acceptance of Pingit via Veri- payment solutions provider for fone at physical POS payment Europe-based online payment mobile point-of-sale (mPOS) terminals. solutions provider Klarna has transactions, have announced an announced the commencement agreement to co-operate at a Overall, payments worth more of commercial operations in the national level. Customers of Hy- than GBP 1.6 billion have been US with Overstock.com as its povereinsbank can now make transferred using Pingit since its first major retail partner. Cus- use of the SUMUP mobile pay- launch in 2012 and it had over tomers of this retail brand in the ment solution to make pur- 2.7 million registered individual US can now make purchases on chases with their American Ex- users as of September 2015. Ac- smartphones or tablets using press, MasterCard and Visa ceptance of it is also increasing Klarna’s technology which seeks debit and credit cards. Mer- as exemplified by the fact that it to simplify the payment process chants can use SUMUP by can now be used to pay for for returning users by prompt- downloading and activating the parking spaces through Park- ing just their email and delivery app to their smartphones or tab- onomy, a parking search engine addresses. If these details are lets which have to be connected and payment system. approved, the customer’s order via Bluetooth with a SUMUP is processed and they will have chip and pin card terminal. The Macy’s introduces PayPal for two weeks from the shipping amount to be settled is then en- mobile, online and in-store date to make payment, a process tered into the app, and the cus- payments that aims to improve both the tomer confirms it by entering a customer’s general experience code into the card terminal. US retail group Macy’s, which and loyalty. ______includes the Bloomingdale’s, Bloomingdale’s Outlet, Macy’s Boku acquisition secures ac- PAYMENT CARD ISSU- and Macy’s Backstage stores has cess to customers of four Ital- ANCE AND ACCEPTANCE introduced PayPal as a mobile ian mobile network operators and online payment option that Discover works with Credit- can also be used in its stores. Global mobile payment com- call to target transportation, Specifically, customers of the pany Boku has acquired Mo- hospitality and retail sectors group will be able to use ‘One bileview Italia paving the way Touch’, a service that allows for the former to provide carrier US-based bank Discover has them to pay online or via their billing services for more than 87 concluded an agreement with mobile devices without having million mobile subscriptions in Creditcall, a payment services company with offices in North

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America and Europe, that will five-star hotel restaurants and boost its on-going push to in- In Indonesia, a deal with Bank hot springs, and cashback re- crease global usage and accep- Rakyat Indonesia (BRI) has lated to card use. tance of Discover and Diners been concluded whereby JCB’s Club cards. Specifically, Credit- cards are now accepted at all UnionPay extends influence call will target a range of indus- BRI acceptance locations, which to Turkey through partner- tries – including transportation, number around 175,000, with ship with GarantiBank hospitality and retail – to certify the bank also agreeing to issue new payment solutions for Dis- JCB-branded cards. In Europe, UnionPay has begun cover. At present, Creditcall of- working with GarantiBank to fers a variety of payment solu- In Mexico, JCB’s partnership is expand acceptance of its cards tions including in-store, online with Banamex (a subsidiary of in Turkey. As at mid-2015, and mobile card payment accep- Citigroup) which means that its around 5,000 ATMs and tance. cards are now accepted at over 500,000 POS terminals operated 70,000 merchants in the coun- by the bank had been upgraded JCB expands internationally try. to accept UnionPay-branded through deals in five coun- cards. Moreover, to optimise tries… Meanwhile, the State Bank of user experience, specifically for Mongolia has announced that it customers whose native lan- JCB has continued to expand its will start issuing JCB debit cards guage is Chinese, the bank is global footprint through several in Mongolia having already providing Chinese language re- new agreements in India, Indo- helped JCB to increase accep- ceipts from its POS terminals nesia, Mexico, Mongolia and tance of its cards there since and installing Chinese language Pakistan. March 2014. As for Pakistan, a interfaces into all of its ATMs. deal with Bank of Khyber The two parties hope that Un- It has made its first foray into (BOK) signifies that JCB’s debit ionPay’s cards will be accepted the Indian market through a link cards can now be used at the at over 40% of POS terminals with the National Payments bank’s POS terminals and within a year. In addition, Ga- Corporation of India (NPCI) ATMs across the country. rantiBank will eventually issue network, which has around 1 UnionPay-branded cards in Tur- million merchants accepting … and works with Hua Nan key. card payments and 200,000 Bank for payment card tar- ATMs across the country. By geting affluent customers in Ecobank and MasterCard means of the agreement, JCB Taiwan finalise pan-African payment cards will be accepted at all solutions agreement NPCI locations in India and In other noteworthy news con- NPCI has also announced a plan cerning JCB, it has developed a Pan-African banking group to combine RuPay, its domestic new payment card for affluent Ecobank has signed a multi- card scheme, with the JCB customers in Taiwan (the JCB country agreement with Master- brand. This will result in a new ‘Eternity Card’) in conjunction Card to introduce new payment RuPay / JCB International card, with Hua Nan Bank. This card solutions to more than 32 mar- which will function as a RuPay includes a free limousine service kets in sub-Saharan Africa. This card within India and as a JCB to and from international air- initiative will see Ecobank issue one outside of the country. ports in Taiwan, discounts at MasterCard-branded credit,

www.finaccord.com 18 Global Affinity Finance Club Affinity Banking debit and prepaid cards to mil- ship with Travelex. By means of Non-Mobile Consumer Products in lions of its customers over the the new service, customers can Canada – GBP 795 Extended Warranties for Mobile and next ten years and will also in- order foreign currency online, Non-Mobile Consumer Products in volve the rolling out by Eco- by phone or in any Virgin Colombia – GBP 795 bank of thousands of mobile Money store. They can then Extended Warranties for Mobile and POS terminals to merchants in choose to have their foreign Non-Mobile Consumer Products in the countries in question. These currency delivered to their home the USA – GBP 795 Global Accident and Health Insurance: will allow merchants to process or to pick it up at the store on Size, Segmentation and Forecast for MasterCard payment card trans- the next working day for orders the Worldwide Market – GBP 595 actions by connecting their placed before 14.00. Global Commercial Non-Life Insur- smartphone or tablet to a secure ______ance: Size, Segmentation and Forecast card reader, enabling them to for the Worldwide Market – GBP 595 Upcoming Finaccord reports Global Life Insurance and Retirement overcome infrastructure and Savings: Size, Segmentation and Fore- communication challenges that cast for the Worldwide Market – GBP may arise when using traditional The following titles will be pub- 595 POS devices. lished by Finaccord in the com- Global Retailers: Strategies of the ______ing months. For more informa- World's Top 120 Retail Groups in tion on our unique areas of ex- Payments, Banking, Insurance and Assistance – GBP 1,995 RETAILER CARDS pertise, plus listings of published Surety Bonds in France – GBP 595 reports and databases, please Surety Bonds in the Netherlands – Synchrony Financial renews visit our website at GBP 595 credit card program deal with www.finaccord.com or email us Surety Bonds in Poland – GBP 595 Mills Fleet Farm at [email protected] . Surety Bonds in Spain – GBP 595 Surety Bonds in Switzerland – GBP 595 In the US, Synchrony Financial Consumer Automotive Financial Ser- Surety Bonds in the UK – GBP 595 has renewed its decade-long vices in Austria – GBP 795 Trade Credit Insurance in Austria – Consumer Automotive Financial Ser- GBP 595 agreement to provide a private- vices in France – GBP 795 label credit card program for Trade Credit Insurance in Belgium – Consumer Automotive Financial Ser- GBP 595 Mills Fleet Farm, a retailer with vices in Germany – GBP 795 Trade Credit Insurance in Poland – 35 outlets based in Iowa, Min- Consumer Automotive Financial Ser- GBP 595 nesota, North Dakota and Wis- vices in Italy – GBP 795 Trade Credit Insurance in Switzerland Consumer Automotive Financial Ser- – GBP 595 consin. In addition, the two vices in Spain – GBP 795 partners also intend to launch a UK Bicycle Insurance: Market Dynam- Consumer Automotive Financial Ser- ics, Affinities and Partnerships – GBP co-branded Visa card. vices in the UK – GBP 795 595 ______Creditor Insurance in Argentina – UK Jewellery and Watch Insurance: GBP 595 Market Dynamics, Affinities and Part- TRAVEL MONEY Creditor Insurance in Brazil – GBP nerships – GBP 595 595 UK Key Person Insurance: Market Creditor Insurance in Chile – GBP 595 Virgin Money partners with Dynamics, Affinities and Partnerships Creditor Insurance in Colombia – – GBP 595 Travelex for new travel GBP 595 UK Tax Investigation Insurance: Mar- money service Creditor Insurance in Latin America – ket Dynamics, Affinities and Partner- GBP 1,995 ships – GBP 595 Creditor Insurance in Mexico – GBP UK Wedding and Personal Event In- In the UK, Virgin Money has 595 announced the launch of a new surance: Market Dynamics, Affinities Creditor Insurance in Peru – GBP 595 and Partnerships – GBP 595 travel money service in partner- Extended Warranties for Mobile and

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Organisations in this issue

Accident & General, 9 Emirates Islamic Bank, 16 Nest, 5 AEON Credit Services, 14 Emirates NBD, 16 Network Q, 8 Ageas, 10 Eni-Enjoy, 7 Obi Worldphone, 9 Alliance Data, 13 ERV, 9 Octo Telematics, 7 Allianz, 6, 7 Europ Assistance, 9 Pacific Indemnity, 5 Allianz Global Assistance, 5, 7, 8, 12 FCA Bank, 13 Panasonic, 5 American Express, 14, 17 Fifth Third Bank, 15 paxconnect, 8 Amtrak, 14 GarantiBank, 18 PayPal, 17 Aon Benfield, 5 Generali, 9 PICC, 9 Apple, 15 Global Bancassurance Services (GBS), 11 Porto Seguro, 15 Association of Headteachers & Deputes in GM, 13 RAC, 9 Scotland (AHDS), 10 Google, 15 Rafiki Microfinance Bank, 12 Assurant Solutions, 8 Groupama, 7 RBS, 15 Aviva, 12 Hollard Insurance, 12 RWE, 6 AXA, 6, 9, 10 HomeSend, 14 Samsung, 15 Azimo, 14 Hood Group, 9 Santander, 12, 13, 15 Bankinter, 10 Hua Nan Bank, 18 Scotiabank, 13 Bank of America, 14 Hymer, 13 SEAT Pagine Gialle, 9 Bank of East Asia, 15 HypoVereinsbank, 17 Shanghai Pudong Development Bank, 16 Bank of Guangzhou, 16 ICICI Lombard, 12 SmartWings, 9 Bank of Khyber (BOK), 18 Imperial Bank, 12 State Bank of Mongolia, 18 Bank Muamalat, 11 ING Direct, 10 State Life Insurance Corporation (SLIC), 11 Bank Rakyat Indonesia (BRI), 18 Ingenie, 7 Stripe, 16 Barclays, 10, 16 Intact Financial Corporation, 6 Sumitomo Mitsui, 11 BlaBlaCar, 6 Ironshore. 7 SUMUP, 17 BNP Paribas Cardif, 5 Japan Airlines, 14 Synchrony Financial, 19 BNP Paribas Personal Finance, 13 JCB, 18 The Warranty Group, 8 Boku, 17 Jubilee Insurance, 12 Total Protect, 5 Built in Chicago, 5 Key Bank, 15 Towergate Underwriting, 6 Caixa Econômica Federal, 15 Kia, 13 Toyota, 13 Capital One, 15 Klarna, 17 Travelex, 19 Catholic Syrian Bank, 12 Kotak Life Insurance, 11 TSB, 12 Chase Card Services, 14 LAG, 5 Uber, 6 China Construction Bank, 15 Lloyds Banking Group, 15 UK General, 8, 9 China Everbright Bank, 16 LV= Broker, 6, 7 Ulster Bank, 15 China Merchants Bank, 16 Macy’s, 17 UnionPay, 18 China Minsheng Bank, 16 Maiden Insurance, 7 United Airlines, 14 Citibank, 16 Majid Al Futtaim Finance, 16 Vauxhall, 8 CNA, 5 Manulife, 11 Verifone, 16 CNP Assurances, 10 MAPFRE, 10 Virgin Money, 19 Colonial First State, 11 MAPFRE Asistencia, 5 Visa, 13, 14, 15, 16, 17 Commercial International Bank (CIB), 10 Mashreq, 16 Volvo, 12 CommBank, 12 MasterCard, 14, 15, 16, 17, 18 Warranty Co, 8 CommInsure, 11 Maybank, 11 WesBank, 12 Creditcall, 17, 18 MBNA, 15 Wesleyan, 10 Ctrip, 9 Mercedes-Benz, 7 Dah Sing Bank, 15 Mills Fleet Farm, 19 DBS Bank, 15 Mitsubishi, 7 Dialog Axiata, 14 Mobileview Italia, 17 Discover, 17, 18 Motorola, 8 DER Touristik, 9 Muang Thai Life Assurance, 10 Dubai Islamic Bank, 16 National Bank of Pakistan, 11 easyJet, 8 National Boat Owners Association (NBOA), eBay, 5 7 Ecobank, 18 National Payments Corporation of India EGICO (Equatorial Guinean Insurance (NPCI), 18 Company), 5 Nationwide, 15

www.finaccord.com 20 Global Affinity Finance Club Latest Reports

Finaccord’s latest published reports and data products include:

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About GAFC About Finaccord Does your organisation have The Global Affinity Finance Club is Finaccord is a leading market re- news about its affinity or Finaccord’s quarterly newsletter search, publishing and consulting partnership marketing rela- about affinity financial services company specialising in financial tionships that we missed in services. We provide our clients worldwide. Through this, Finac- this newsletter? To produce with insight with a particular focus cord publishes high-level informa- it, we systematically research tion about key strategic develop- on marketing and distribution over 350 major financial ser- ments in affinity and partnership strategies, including affinity and vices institutions from marketing of financial services partnership marketing. around the world, segmented be- around the world each quar- tween affinity insurance news, ban- Our areas of expertise include: af- ter. However, if you would cassurance news and affinity bank- finity and partnership marketing; also like us to include your ing news. automotive financial services; ban- company in this research, cassurance; commercial non-life please send an e-mail to This service differs from that pro- insurance brokers; consumer intel- [email protected] and we vided by other research companies ligence; creditor insurance; distri- will ensure that it is tracked because its focus is genuinely bution channels; energy and power in future quarters. global, often translating news that insurance; extended warranties; only appears in languages other home emergency insurance and To access the archive of news than English. In addition, it con- assistance; insurance and assistance from the Global Affinity Fi- linked to payment cards and bank centrates exclusively on affinity nance Club please visit accounts; mobile gadget and tele- and partnership marketing strategy. www.finaccord.com/afi Affinity and partnership marketing phone insurance; retailer financial strategy is an important compo- services; road assistance; small nent of general distribution strat- business financial services; and egy for a majority of large banks travel insurance and assistance. and insurance companies serving consumers and small businesses, as Our international network of con- successful partnerships potentially sultants is able to deliver informa- allow them to access groups of tion quickly and accurately across a customers that they cannot always range of countries worldwide, bas- reach by themselves. ing research projects on robust data and knowledge rather than If you would like to join Finac- supposition and theory. cord’s Global Affinity Finance Club , contact us by telephone or send us © Finaccord Ltd., 2015 an email to [email protected] . Registered in London No. 4542931 Thereafter, each quarter, we will The Office Farringdon send you a link to the page of our 24 Greville Street website with fresh news and future London, editions of this document. EC1N 8SS

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