AFFINITY QUARTER 2 2018

BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club

Finaccord’s newsletter about affinity worldwide Welcome back to your Club! If there has been a prevailing theme in the world of affinity financial services in the most recent quarter and, indeed, more recent years, it has surely been that of partnerships based around digital marketing.

In respect of insurance, these have included new initiatives involving both and with Uber, and Chubb with Grab, in the field of taxi hailing apps, plus AXA with BlaBlaCar in the ride- sharing space. Agreements oriented to development of digital health services have also been to the fore as epitomised by those involving and American Well, Bupa and HealthTap, and SSQ Insur- ance and Dialogue. Zurich, too, has created notable deals for digital insurance such as that with CoverWallet for small business cover.

The automotive finance market has also seen a number of innova- tive partnerships, especially in the US. For example, Ally Financial is collaborating in this context with both Drive Motors and mobiliti with the former a provider of e-commerce services to vehicle dealer- ships and the latter an app-based monthly subscription service for vehicle buyers.

Meanwhile, as ever, digital innovation is also evident in the banking and payments market. Significant new initiatives in this respect in- clude those of Kreditech with PayU for online consumer finance in and Bank of China with Tencent for student banking services in China. Furthermore, global payment brands such as Mastercard and Visa are increasingly forging links with manufacturers of wear- ables such as Fitbit and Garmin for integrated payment services.

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 … and Chubb links with Grab for … and launches motor insurance for similar initiative 6 BlaBlaCar vehicle owners in France 8 ASSISTANCE 5 Geo Underwriting works with Allianz delivers digital healthcare so- Europ Assistance launches insurance DAS for high net worth assistance lutions in conjunction with American for Italian peer-to-peer car sharing service 5 Well… 6 platform 8

Generali Global Assistance links … Bupa works in same field with Zurich insures electric vehicles with Deposits.com for identity pro- HealthTap… 7 belonging to Spanish car club 8 tection 5 … and SSQ Insurance rolls out a Allianz Global Assistance offers Europ Assistance extends assis- comparable scheme with Dialogue 7 insurance for hired cars with US- tance partnership with UNICRE based insurtech firm 9 through to 2020 5 takes over ’s interna- tional private busi- Uber selects Allstate for commercial COMMERCIAL INSURANCE 5 ness 7 motor insurance in three US states 9

Aon works with Allianz, Apple and Colombian insurer ties with two part- NICHE INSURANCE 9 Cisco for cyber risk management ners for international health insur- solution 5 ance 7 APRIL markets boat insurance through manufacturer’s online The Hanover commences profes- APRIL Group works more closely platform 9 sional liability insurance program with Malakoff Médéric in several with USI Affinity 5 fields 7 AXA and Gothaer reconfigure legal protection joint venture in Germany Euler Hermes and use BNP Paribas Cardif promotes credi- 9 Solunion joint venture to enter surety tor insurance through French prop- bond market 5 erty listing website 7 PRODUCT WARRANTIES / INSURANCE 9 Zurich seals tie with CoverWallet for Spanish basketball federation selects digital sales platform offering com- AXA for affinity insurance schemes CarGarantie creates pan-European mercial insurance 6 8 joint venture with Car Care Plan… 9

APRIL offers discount on commer- Talanx and Zurich unveil joint ven- … and works with Mazda for car cial insurance to chemists in pharma- ture plan for new occupational pen- maintenance package in Germany 10 ceutical network 6 sion products 8 simplesurance collaborates with LIFE, HEALTH AND MOTOR INSURANCE 8 digital platform for insurance for CREDITOR INSURANCE 6 second-hand tyres 10 AXA underwrites pay-by-the-mile AXA works with Uber for protec- cover for UK-based insurtech Brightstar renews partnership with tion and savings policies for driv- pioneer… 8 Cellcom for mobile device protection ers… 6 10

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TRAVEL INSURANCE 10 Bancassurance Crédit Agricole Consumer Finance prolongs partnership with Mazda for Affinity sets up global travel insur- HOUSEHOLD INSURANCE 12 five more years 14 ance program with AIG and Expedia 10 Deutsche Bank works with Friendsur- Carfinco links with LGM for automo- ance to strengthen household insur- tive finance and insurance solutions in Interhome selects ERV for travel ance offering 12 Canada 14 cover 10 MOTOR INSURANCE 12 Orient Corporation provides backing Collinson Group wins travel insurance for JA Bank’s new vehicle finance mandate with Saga 10 BNP Paribas Cardif extends global product 14 partnership with Volkswagen Financial Allianz Global Assistance secures affin- Services 12 COMMERCIAL BANKING 14 ity scheme with My Online Camp 10 GENERAL 12 Wesleyan wins mandate from the Law HanseMerkur wins ticket and travel Society of England and Wales 14 insurance deal with tourVERS… 11 Banco de Brasil reconfigures bancas- surance joint venture with MAPFRE CONSUMER FINANCE 14 … and works with HolidayCheck for 12 comprehensive travel cover 11 Crédit Agricole Consumer Finance The Co-operators takes over full con- engages with Bankia for joint GENERAL 11 trol of Cumis insurance subsidiaries 12 venture in 14

MAPFRE rolls out affinity programs Affinity Banking PayU ties with Kreditech for online with two professional associations in consumer finance in India 14 Spain 11 AUTOMOTIVE FINANCE 13 Bank of China collaborates with

Zurich allows Miles & More members Tencent for digital financial services Ally Financial unveils new digital distri- for students 15 to earn miles by buying insurance… bution partnerships 13 11 MOBILE / ONLINE PAYMENTS Audi Financial Services forges agree- 15 … and combines with insurtech start- ment with AutoGravity for vehicle up to improve customer experience in purchases 13 Australian personal lines 11 Mastercard unveils multiple new initia- tives in digital payments… 15 Joint venture co-owned by BNP Groupama and Gras Savoye earn af- Paribas and PSA group articulates … spanning all global regions… 15 finity mandate with French golfing European ambitions 13 federation 12 … and Visa follows suit through new BNP Paribas Personal Finance con- launches in Italy and Switzerland 16 Allianz and LV= define further their firmed as the sole partner for Hyundai general insurance joint venture 12 in France 13 Both global payment brands seek to

encourage payments via wearable de-

vices… 16

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Table of contents

… as do other providers targeting this Synchrony Financial works with Crate Consumer Automotive Financial fast-growing field 17 & Barrel for private-label and co- Services in Canada branded cards 19 Facebook works with several payment Consumer Automotive Financial partners through its Messenger func- Mattress1One selects TD Bank for Services in South Africa tion 17 multi-year store card program 19 Creditor and Lifestyle Protection Wirecard discloses new initiatives with Finaccord country reports Insurance in Europe Crédit Agricole and Allianz… 17 Finaccord publishes a variety of Extended Warranties for New … plus others with Qatar Airways, reports about the following coun- and Used Cars in the Asia-Pacific Villeroy & Boch and two English foot- tries: ; Austria; Belgium; Region ball clubs 18 ; Canada; ; China; Co- lombia; France; Germany; India; Extended Warranties for New UnionPay seeks to roll out Huawei Pay Indonesia; Italy; Japan; Malaysia; and Used Cars in Latin America mobile payments outside of China 18 Mexico; Netherlands; Peru; Po- land; Romania; Russia; South Af- Global Bancassurance: Product Alipay works with Millennium BCP to rica; Spain; Switzerland; Turkey; and Partnership Strategies in In- help Chinese travellers in 18 the UK; and the US. vestment-Related Life Insurance and Retirement Savings of the PAYMENT CARD ISSUANCE Alternatively, to see our full list World's Top 500 Retail Banking AND ACCEPTANCE 18 of reports organised by country, Groups with more than 60 countries cov- JCB expands card issuing capabilities in ered in total, please visit the Global Expatriates: Size, Segmen- Belarus, the Philippines and Vietnam search-by-country page of our tation and Forecasts for the 18 website at www.finaccord.com/ Worldwide Market search-by-country.htm. UnionPay forges several alliances to Home Emergency Insurance and expand its global footprint 18 Recently published reports Assistance in Europe

Discover strengthens presence in Hong Automotive Finance and Leasing Manufacturer-Branded and Kong market by working with First for Consumers in the Asia-Pacific Dealer-Intermediated Motor In- Data and JCB 19 Region surance and Road Assistance in the Asia-Pacific Region RETAILER CARDS 19 Commercial Non-Life Insurance in China: Size, Segmentation and Mobile Metrics: Consumer Ap- Forecast to 2021 proaches to Mobile Gadget and Klarna teams up with Dutch e- Phone Insurance in Selected commerce platform to offer consumer Commercial Non-Life Insurance Global Markets finance via smaller retailers 19 in the USA: Size, Segmentation

and Forecast to 2021 Prepaid Service Contracts for Bass Pro Shops switches Cabela’s re- New and Used Vehicles in the tailer card scheme to Bank of America Consumer Automotive Financial Asia-Pacific Region and Mastercard 19 Services in Brazil

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Affinity Insurance News tools, as well as educational re- cialty (AGCS) is acting as under- sources concerning best practice writer of enhanced cyber insurance ASSISTANCE in identity protection, privacy coverage. Apple and Cisco have protection software and credit agreed to the involvement of sev- Geo Underwriting works with monitoring. eral of their products in the scheme, DAS for high net worth assis- which means that corporate cus- tance service Europ Assistance extends as- tomers who use iPad, iPhone, and sistance partnership with Mac devices, as well as Cisco’s In the UK, Geo Underwriting UNICRE through to 2020 ‘Ransomware Defense’ product, (formerly Towergate Underwrit- can qualify for the cover. Organisa- ing) has partnered as administra- In Portugal, Europ Assistance tions using the cover will have ac- tor with DAS, as underwriter, to has renewed its partnership with cess to the incident response teams launch an assistance product for credit card issuer UNICRE of Aon and Cisco in the event of a high net worth individuals through which it provides vari- malware attack. which includes a combination of ous automatically-bundled assis- cyber, home emergency and le- tance services to holders of Uni- The Hanover commences pro- gal protection cover. The prod- banco cards, including medical, fessional liability insurance pro- uct includes access to a cyber road and travel assistance. The gram with USI Affinity risk analysis software platform new arrangement will continue provided by Dynarisk, a cyber through to 2020. Also in the US, The Hanover has security company, which as- announced a partnership with bro- ______sesses individual and family be- ker USI Affinity to offer profes- haviour online to assign a ‘risk sional liability insurance to attorneys score’. This score can be used COMMERCIAL INSURANCE and law firms through the USI Af- both by policyholders, who are finity Lawyers Liability Risk Pur- Aon works with Allianz, Apple advised on how to mitigate chasing Group. The product will be and Cisco for cyber risk manage- risks, and by brokers selling the known as the ‘USI Affinity ment solution product. “Attorney’s Preferred” Insurance Program’, and comprises insurance Generali Global Assistance In the US, Aon has announced a solutions for individual lawyers and links with Deposits.com for new cyber risk management solu- law firms of all sizes in the states of identity protection tion for businesses in conjunction Connecticut, Maryland, Massachu- with Allianz, Apple and Cisco. The setts, New Jersey, Virginia and West In the US, Generali Global As- new proposition is designed to help Virginia. sistance has secured a contract a wider range of organisations to for the provision of identity better manage and protect them- Euler Hermes and MAPFRE protection assistance services to selves from the growing cyber risk use Solunion joint venture to en- the customers of Deposits.com, associated with ransomware and ter surety bond market a company in the process of be- other malware-related threats. ing launched that intends to as- In Spain, Solunion, the joint venture sist consumers with choosing In this context, Aon is providing in trade credit insurance that is co- which banking products to take cyber resilience evaluation services owned by Euler Hermes and MAP- out. The range of services in through a dedicated team of profes- FRE, has announced that it will scope includes prevention, sionals specialising in this field, and diversify into underwriting surety monitoring, alerts and resolution Allianz Global Corporate & Spe- www.finaccord.com 5 Global Affinity Finance Club Affinity Insurance bonds. The company was launched chemists in Sterling Pharma’s net- drivers and couriers. These could originally in 2013 and has since ex- work to receive prescriptions online include injury protection, income panded outside of Spain into a and to prepare customers’ orders in protection, family protection, number of Spanish-speaking coun- advance so that they can be made health, and retirement and savings tries in Latin America including available through a click-and-collect policies. Argentina, Chile, Colombia and system, and also facilitates the dis- Mexico. patch of promotions and personal- … and Chubb links with Grab ised health advice to smartphone for similar initiative Zurich seals tie with CoverWallet users. As a part of the arrangement, for digital sales platform offering APRIL will also offer a 10% dis- In a comparable initiative in south- commercial insurance count on multi-risk and profes- east Asia, Grab, an on-demand sional indemnity insurance for em- transportation and fintech platform, Also in Spain, Zurich has begun ployees of Sterling Pharma, as well has appointed Chubb to offer insur- working with the US-based insur- as six months’ free use of ‘Conseil ance solutions for its drivers. Initial tech pioneer CoverWallet to launch Santé’. products include accident, hospitali- a nose-to-tail digital sales platform ______sation and income protection poli- for commercial insurance. The plat- cies, all of which are accessible to form will be hosted on LIFE, HEALTH AND Grab's 2.6 million self-employed www.zurichempresas.es, and allows CREDITOR INSURANCE drivers. Furthermore, telematics and small and medium-sized enterprises other data harvested from Grab’s to identify and fulfil their insurance AXA works with Uber for protec- platform will be used for develop- needs in rapid time and entirely tion and savings policies for driv- ment of further insurance products. online. Once a policy has been ers… The partnership was announced as bought, it is managed either part of the launch of Grab Finan- through the ‘MiZurich’ mobile app As part of a regional initiative, AXA cial, a fintech platform available to or the insurer’s website. The has announced the launch of the drivers registered on the Grab sys- scheme will be rolled out in Spain in ‘Partner Protection’ product, which tem that focuses on payment and its initial stages, although the two makes available a range of covers loyalty services. Grab has also stated partners intend to introduce it to including accident, injury, illness and that the agreement with Chubb is other European countries in future, paternity benefits for Uber drivers an extension of its long-term com- working together in this field on an and couriers based in Europe. The mitment to improve driver welfare. exclusive basis. policy is funded by Uber at no cost to all eligible drivers and couriers, Allianz delivers digital healthcare APRIL offers discount on com- and is valid regardless of whether solutions in conjunction with mercial insurance to chemists in the driver or courier is using the American Well… pharmaceutical network Uber app. Across the globe, a number of in- In France, APRIL Enterprise Solu- At the same time, AXA has also surers have been exploring initia- tions, a subsidiary of the APRIL signed a memorandum of under- tives within the field of digital and Group, has begun working with the standing with Uber to develop fur- mobile healthcare. Firstly, in the US, pharmaceutical firm Sterling ther protection policies for the lat- Allianz has partnered with Ameri- Pharma to improve the latter’s e- ter’s workers. The aim is to develop can Well, a tele-health platform, to commerce services through its an online platform that will make create healthcare products for ‘Conseil Santé’ app. The app allows additional covers available for Uber American Well’s customers. As part

www.finaccord.com 6 Global Affinity Finance Club Affinity Insurance of this arrangement, Allianz has … and SSQ Insurance rolls out a therapy, emergency evacuation, or- invested USD 59.2 million in comparable scheme with Dia- gan transplants and rehabilitation, as American Well, and the two com- logue well as treatment for cancer and panies will work with local health- other critical illnesses. care stakeholders to develop digi- In Canada, SSQ Insurance has cho- tally-driven health services such as sen Dialogue, a virtual platform APRIL Group works more the use of wearable sensors, remote specialising in employee healthcare closely with Malakoff Médéric in monitoring and virtual visits on a services, to provide its staff mem- several fields global level. bers and policyholders with instant access to professional healthcare In France, APRIL Group and … Bupa works in same field services including video consulta- Malakoff Médéric have ratified a with HealthTap… tions with doctors and online con- mutually beneficial agreement that sultation with nurses, as well as re- will allow them to capitalise on their In an analogous agreement, Bupa ferrals to specialists and prescription respective distribution networks. has announced a strategic partner- services. Malakoff Médéric will offer its ship with HealthTap, a digital creditor and personal accident in- healthcare provider, through which Aetna takes over Aviva’s interna- surance through APRIL’s online the two companies will combine for tional private health insurance sales platforms, and will employ digital healthcare provision on a business APRIL’s subsidiary CETIM to global basis. The two partners have manage certain health and group already been co-operating by mak- Aetna has announced that it will protection schemes. In return, ing use of HealthTap’s apps and take over Aviva’s international pri- APRIL will use Malakoff Médéric’s systems to allow Bupa customers to vate medical insurance (IPMI) busi- subsidiary VIAMEDIS as a third- find Bupa-accredited local doctors, ness, allowing the latter to focus on party payer for its own insurance to schedule appointments and to its domestic UK health insurance customers. The agreement will see connect with medical professionals business. Aviva has stopped provid- Malakoff Médéric reinforcing its by video chat. ing new international policies and position as a reinsurer for APRIL. existing customers whose policies At a more local level, HealthTap are due for renewal will be offered BNP Paribas Cardif promotes has also agreed to work with Qual- Aetna’s international policies in- creditor insurance through ity Healthcare, a private healthcare stead. French property listing website service in Hong Kong, to jointly promulgate the companies’ services Colombian insurer ties with two Also in France, BNP Paribas Cardif within the territory. The partnership partners for international health has agreed to distribute its creditor initially involves the introduction of insurance insurance products via SeLoger, a a mobile app that enables insured property listing website that reports users to book appointments online, In Colombia, local insurer Seguros over 30 million visits per month. in addition to providing health in- Bolívar has begun selling a range of The partnership means that users of formation and services. Further international health insurance poli- SeLoger can identify the mortgage- plans to develop electronic payment cies in partnership with both Blue related creditor cover that is best systems and digital records of per- Cross Blue Shield Global and Bupa suited to their needs while browsing sonalised medical information are in Global. The available coverage in- the site and can proceed to either the pipeline. cludes both in- and out- call an advisor for further informa- patient care, mental and holistic tion or subscribe online.

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Spanish basketball federation Occupational Pensions Act with different cover options selects AXA for affinity insurance ('Betriebsrentenstärkungsgesetz') at available. It is intended that this schemes the start of 2018, paving the way for insurance will be made available to collective bargaining partners – BlaBlaCar members in other In Spain, AXA has agreed to con- namely trade unions and employers' European countries in the future. tinue working with the Federación organizations – to provide employ- Española de Baloncesto (the coun- ees with new pension solutions. Europ Assistance launches try’s professional basketball federa- ______insurance for Italian peer-to-peer tion) to provide its members with car sharing platform protection life insurance in case of MOTOR INSURANCE death or incapacity, plus a range of In a comparable initiative in Italy, health and dental insurance policies. AXA underwrites pay-by-the- Europ Assistance has begun Other policies offered through this mile cover for UK-based offering insurance to customers of scheme include savings and invest- insurtech pioneer… GetMyCar, a company owned by ment contracts to help professional car parking network ParkinGO that basketball players to prepare for the In the UK, AXA has tied with By operates a peer-to-peer car sharing end of their professional career. Miles, an insurtech company, to platform. The policies cover the launch a motor insurance product whole period for which the car is Talanx and Zurich unveil joint that is aimed at motorists who drive shared and include comprehensive venture plan for new occupa- infrequently and under 7,000 miles protection, cover for both theft and tional pension products a year. The policy features a fixed damage due to natural events and annual cost to cover the car when it vandalism, plus legal assistance. In Germany, insurance groups Ta- is parked, plus a payment for any lanx and Zurich have announced miles driven each month. All Zurich insures electric vehicles that they intend to co-operate in the policies include no claims bonus belonging to Spanish car club field of company pensions by form- protection at no extra cost, with ing a consortium provisionally access to driving and car care tools In Spain, Zurich has announced named Die Deutsche Betriebsrente. via the company’s app. Journeys are that it has begun insuring a fleet of Both companies believe that they measured using a black box device around 500 telematics-enabled possess substantial and comple- and drivers are able to access the electric vehicles belonging to the mentary expertise in selling and cost of each trip made through a ZITY car club which is co-owned managing occupational pension smartphone app. by Ferrovial Servicios and Renault. products, thereby meaning that they The telematics features make it can combine to good effect in this … and launches motor possible to not only generate data space. Die Deutsche Betriebsrente, insurance for BlaBlaCar vehicle pertaining to how the vehicle is which is pending regulatory ap- owners in France being driven, but also about its proval, will focus on pension prod- location and the driver in the event ucts linked to the performance of Meanwhile, in France, AXA has of accident or theft. ZITY cars can security markets so that customers launched ‘BlaBlaSure’ as a new be rented by the minute via an app benefit from returns that are poten- annual car insurance policy for available from both Apple Store tially higher than those usually avail- members of BlaBlaCar, a ride- and Google Play. able from traditional pension prod- sharing service, who own a vehicle ucts. The initiative is inspired in part registered in France. This online At the time of launch, the cars may by the entry into law of Germany’s policy can be taken out rapidly and be used only in the city and suburbs

www.finaccord.com 8 Global Affinity Finance Club Affinity Insurance of , although expansion to passengers by providing owned by two. The minority other parts of Spain is possible in commercial motor (auto) coverage shareholders being bought out are future. The partnership is driven by in the states of Illinois, New Jersey Barmenia Kranken, Basler, Zurich’s belief that car clubs and and Wisconsin. Coverage begins Braunschweig other forms of car sharing will grow from when a driver turns on the Beteiligungsgesellschaft and rapidly in future years to the point Uber app to begin accepting rides Feuersozietät Berlin Brandenburg that by 2030, one in every three to the point that he or she drops off Versicherung albeit the former two kilometres driven in Europe will be customers at their destination. entities will continue to act as via such means, with 55% of trips ______distribution partners for taken using electric vehicles. ROLAND. With a market share of NICHE INSURANCE more than 10% of the German Allianz Global Assistance offers legal protection insurance market, insurance for hired cars with US- APRIL markets boat insurance ROLAND Rechtsschutz is the based insurtech firm through manufacturer’s online third-ranked competitor in this platform sector with gross premiums of In the US, Allianz Global EUR 428.6 million in 2016. Assistance has partnered with In France, APRIL Marine, a ______Pablow, an insurtech company subsidiary of APRIL Group focused on providing insurance to specialising in yacht insurance, has PRODUCT WARRANTIES / drivers of rented cars, thereby been chosen as insurance provider INSURANCE allowing them to avoid having to for customers of motor boat and take out car rental firms’ own sail manufacturer Bénéteau. CarGarantie creates pan- insurance cover. These damage and APRIL’s policies will be made European joint venture with Car theft protection policies are sold available through Band of Boats, Care Plan… through P’teet, a dedicated online Bénéteau’s new online brand for brand operated by Pablow. This the purchase, sale and hire of boats. As part of a pan-European venture, partnership follows an existing Users of the site can obtain an vehicle warranty specialists partnership between the two insurance quotation from APRIL CarGarantie and Car Care Plan entities in Australia, where Pablow Marine for any of the boats sold on have announced the creation of a operates both a car rental the platform, and acquisition of joint venture named International comparison site and car rental cover can be completed online. Warranty Solutions (IWS). It is insurance site. Allianz believes that intended that IWS will focus on the value of the car rental insurance AXA and Gothaer reconfigure distributors that operate market in the US is in the region of legal protection joint venture in internationally, such as car USD 28 billion, with around 70 Germany manufacturers, and will involve the million customers making around companies pooling their combined 110 million reservations in 2016. In Germany, AXA and Gothaer networks of over 24,000 dealers and have bought out the four minority 48 manufacturer brands across 27 Uber selects Allstate for shareholders that formerly held countries in Europe. commercial motor insurance in stakes in ROLAND Rechtsschutz, three US states a company which specialises in legal protection cover, thereby Also in the US, Allstate has agreed converting it from a joint venture to insure Uber drivers and co-owned by six entities to one co-

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… and works with Mazda for car addition, the service also comprises Interhome selects ERV for travel maintenance package in an online claims reporting facility. cover Germany Brightstar renews partnership In a new partnership initially set to last In Germany, and in another with Cellcom for mobile device three years, the Germany-based initiative involving Car Garantie, protection branch of insurer ERV will provide Mazda has started offering its travel insurance products to custom- customers a new maintenance In the US, Brightstar has reported a ers of Interhome, an international package called ’Mazda Care’. multi-year extension of its company that manages holiday apart- Administered by Car Garantie, the partnership with mobile network ments and houses across over 30 plan includes all scheduled operator Cellcom for device countries. maintenance work and applies to protection insurance. The renewal new cars, demonstration cars, day means that Brightstar will continue Collinson Group wins travel insur- registrations and used cars until the offering a full range of device ance mandate with Saga first scheduled maintenance. protection services to Cellcom’s Runtime and mileage can be flexibly customers that includes cover for In the UK, Saga, a travel and financial adapted to customers’ needs, with loss, theft and accidental damage to services group for people aged over terms of one to five years and handsets, as well as warranty cover 50, has chosen Collinson Group as its annual mileages of up to 70,000 for technical failure. partner for travel insurance. By means kilometres. Original Mazda parts are ______of this arrangement, Collinson will being used for all work involved. provide both stand-alone policies and TRAVEL INSURANCE cover packaged with Saga holidays, in simplesurance collaborates with addition to managing insurance for digital platform for insurance for Aon Affinity sets up global travel Saga’s luxury travel subsidiary, Titan second-hand tyres insurance program with AIG and Travel. Expedia Also in Germany, online product Allianz Global Assistance secures insurance specialist simplesurance AIG has announced a global partner- affinity scheme with My Online has agreed to begin working with ship with Expedia whereby it will of- Camp Orbix, an online marketing fer travel insurance to customers of its platform for used wheels and tyres, partner’s Cheaptickets, Expedia.com, In the US, Allianz Global Assistance to sell insurance for second-hand Orbitz and Travelocity brands. Al- has unveiled a partnership with My tyres. Insured tyres can be covered ready launched in the US, the partner- Online Camp, an event provider that for up to four years from the date ship will be expanded to the same serves coaches, athletic departments of their manufacture and up to a brands globally and will also include and camp operators by providing residual tread depth of more than ebookers.com, lastminute.com.au, marketing and registration services for four millimetres. Customers will be lastminute.co.nz, Wotif.com and sports camps and other youth- given the option of purchasing the Wotif.co.nz. Aon Affinity, which has targeted events. Through this arrange- policy when they are checking out worked with Expedia for travel insur- ment, Allianz Global Assistance will their shopping cart on the Orbix ance services for 15 years, is acting as offer insurance to cover registration website. The online shop intermediary and administrator of this fees in the event of cancellation, illness automatically recognises the price of program. and lost or delayed baggage. Policy- the tyres and offers an insurance holders can also opt for an add-on premium that is pegged to it. In that will qualify them for assistance

www.finaccord.com 10 Global Affinity Finance Club Affinity Insurance services, such as locating appropriate nomics, human resources and the sonal liability insurance policies under- healthcare facilities in the event of a prevention of occupational hazards. written by Zurich. As with miles medical emergency. The companies By means of this tie, members of the earned through other program part- reported that My Online Camp man- association will be able to access both ners, which number over 300 in total, ages registration for over 17,500 personal and commercial insurance these can then be redeemed in multi- events in the US each year. policies underwritten by MAPFRE ple ways worldwide to obtain dis- on preferential terms. In total, the as- counted products and services. HanseMerkur wins ticket and sociation has more than 22,000 indi- travel insurance deal with vidual members who belong to 43 … and combines with insurtech tourVERS... regional colleges that fall under the start-up to improve customer ex- purview of the association. perience in Australian personal In Germany, HanseMerkur has lines agreed to underwrite ticket and travel Also in Spain, Zurich has disclosed insurance products for attendees of that it is linking with the Federación Outside of Europe, Zurich has joined the Oberammergauer Passion Play Nacional de Trabajadores Autóno- forces with the Australia-based insur- 2020 via its trading agent tourVERS. mos (a trade association representing tech start-up Blue Zebra to launch a Policies on offer include cover for around 200,000 self-employed indi- digitally-enabled, end-to-end personal inability to attend and baggage protec- viduals) in order to obtain personal- lines insurance platform targeted at tion as well as repatriation and health ised advice and preferential conditions brokers with a focus on home, land- insurance for non-German visitors. at a nationwide level for various types lord and motor policies. The initiative of insurance including accident, com- has been inspired in part by the two … and works with HolidayCheck mercial, general liability and motor partners’ belief that there is a gap in for comprehensive travel cover policies. This follows on from a simi- the Australian personal lines sector for lar agreement that Zurich concluded a proposition based around personal- Moreover, HanseMerkur has also in 2017 with the association’s branch ised advice, a concept that has re- announced a new three-year partner- in the province of Andalusia and that treated in recent years in the wake of ship with online travel booking spe- has produced positive results. In total, growth in direct sales. cialist HolidayCheck offering compre- Zurich has a portfolio of around hensive travel cover to its customers 84,000 small and medium-sized busi- Blue Zebra, which is an underwriting in Austria, Germany and Switzerland. ness customers in Spain. agency, considers that it will be able to ______compete effectively against traditional Zurich allows Miles & More insurers that are burdened by legacy GENERAL members to earn miles by buying product-based models and systems insurance… that have significant limitations when MAPFRE rolls out affinity pro- it comes to optimising customer ser- grams with two professional asso- Meanwhile, in Germany, Zurich has vice. Its platform includes an ad- ciations in Spain announced that it has begun co- vanced technology-enabled claims operating with the Miles & More fre- experience that ensures that claims are In Spain, MAPFRE has concluded an quent flyer loyalty scheme. As a con- paid quickly, with clear and timely affinity agreement with the Consejo sequence of the partnership, members communication to brokers and their General de Graduados Sociales, a of the Miles & More program can customers. professional association representing earn additional miles through the plat- legal and economic advisers specialis- form when purchasing accident, ing in labour relations, business eco- household, legal protection and per-

www.finaccord.com 11 Global Affinity Finance Club Bancassurance

Groupama and Gras Savoye earn insurance specialist Friendsurance, GENERAL affinity mandate with French golf- with the aim of strengthening its ing federation household insurance offering. The Banco de Brasil reconfigures ban- agreement will see the development cassurance joint venture with In France, Groupama and Gras of a digital ‘insurance manager’ func- MAPFRE Savoye have been appointed respec- tion to complement traditional bank tively as underwriter and broker for an services offering clients a convenient In Brazil, Banco do Brasil and MAP- insurance scheme for the Fédération way to manage their property insur- FRE have communicated further Française de Golf. By means of this ance needs. This function enables information in respect of the future arrangement, all golfers who are clients to learn about and take out development of their BB MAPFRE members of the federation are being new policies both quickly and se- insurance joint venture that was set up offered liability and individual accident curely, also allowing them to see all in 2011 and that secured premiums of insurance, plus discounts on a range their insurance policies together with around EUR 4 billion (equivalent to a of other insurance products. key details such as notice periods, cov- market share of 16.6%) in 2017. Spe- erage and claims history. It will also be cifically, MAPFRE will become the Allianz and LV= define further possible for clients to manage their legal owner of 100% of total business their general insurance joint ven- insurance policies online, to compare produced by the agency network and ture policies and conditions and, if neces- of motor and large commercial risk sary, to change insurer or take out a business generated by the banking As part of a strategic partnership, Al- new policy. channel. Previously, its share had been lianz and LV= have announced up- ______50%. However, its share of agricul- dated plans to transfer their respective tural business and life insurance will personal and commercial portfolios. MOTOR INSURANCE remain 25% and its share will also stay Allianz’s personal home and motor at that level for household policies portfolios will be transferred to BNP Paribas Cardif extends sold through the banking channel. LV=GI, a joint venture in which Al- global partnership with Volks- Moreover, for the types of business lianz has a 49% stake while LV=’s wagen Financial Services underwritten by the joint venture, the commercial insurance portfolio will be bank will remain an exclusive agent. transferred entirely to Allianz. It is BNP Paribas Cardif and Volkswagen anticipated that the transfers will start Financial Services have announced The Co-operators takes over full in the second half of 2018. the signing of a global partnership to control of Cumis insurance sub- ______extend a relationship that was estab- sidiaries lished originally in 2001. This partner- Bancassurance ship already covers 2 million creditor In Canada, The Co-operators has and GAP insurance contracts related announced a change in its partnership to vehicle finance and, with the re- with the Central 1 Credit Union, HOUSEHOLD INSURANCE newal, will come into force across 16 whereby the latter will remove its countries in Europe and Latin Amer- ownership interest in the insurance Deutsche Bank works with ica. group CUMIS which it has co-owned Friendsurance to strengthen ______with The Co-operators since 2009. household insurance offering The change means that both the life and non-life insurance subsidiaries of In Germany, Deutsche Bank has be- Cumis will become fully-owned sub- gun building a strategic partnership sidiaries of The Co-operators. with the Berlin-based peer-to-peer

www.finaccord.com 12 Global Affinity Finance Club Affinity Banking

Affinity Banking tailing group in the US, to provide The partners have stated subsequently extended warranties and GAP cover that the joint venture, known as Opel AUTOMOTIVE FINANCE for the group’s pre-owned vehicle Vauxhall Finance, aims to finance a dealerships in Colorado and Texas, third of Opel vehicles by 2020, and to Ally Financial unveils new digital which trade under the EchoPark drive up to 25% growth in sales of distribution partnerships name. Opel LCVs by the same year. To en- courage sales, Opel Vauxhall Finance In the US, Ally Financial has entered Audi Financial Services forges will offer full-service leasing for fleet into two new relationships with online agreement with AutoGravity for customers in Germany through Opel providers of automotive finance. First, vehicle purchases Bank, and will develop B2B finance in it has agreed to work with Mobiliti on countries including Austria, France, a suite of financing options for both Still in the realm of online and mobile Italy and the UK. It will also expand consumers and dealers. Mobiliti is an partnerships for the distribution of its geographical presence, notably in app-based monthly subscription ser- automotive finance, Audi Financial Spain, with the long-term goal of be- vice that connects drivers who want Services has agreed to work with ing active in 90% of European mar- flexible financing with dealers, and AutoGravity, a US-based vehicle pur- kets in which Opel and Vauxhall vehi- includes a vehicle complete with chasing app. The AutoGravity plat- cles are sold. maintenance, warranty, insurance and form, which connects users to dealers roadside assistance. For consumers and lenders for the purpose of acquir- Another priority for the company will who wish to purchase or lease the ing vehicles, is including Audi Finan- be to introduce packages that com- vehicle at the end of the subscription cial Services among its financing op- bine leasing, insurance and service period, Mobiliti will offer them the tions. Consumers will be able to products, with the goal of increasing opportunity to connect with finance choose from loan and lease contracts customer loyalty. While such packages providers through Ally's digital financ- provided by Audi Financial Services, are already available in some countries, ing platform Clearlane. In addition, and will also be able to consider new the objective is to launch them across Ally fleet financing will be made avail- and used Audi models for purchase. It all markets served by Opel Vauxhall able to qualified dealers who use Mo- is intended that the partnership will Finance. biliti's vehicle subscription services, help Audi dealerships to broaden along with an option to re-market both their customer base and distribu- BNP Paribas Personal Finance returned vehicles using Ally's whole- tion network. confirmed as the sole partner for sale digital auction site, SmartAuction. Hyundai in France Joint venture co-owned by BNP Secondly, Ally has also become the Paribas and PSA group articulates In France, BNP Paribas Personal preferred finance company for Drive European ambitions Finance has announced that it will Motors, which provides e-commerce become the exclusive automotive services to vehicle dealerships and As reported in an earlier edition of this finance provider for Hyundai’s cus- claims to facilitate over 1,000 vehicle newsletter, PSA group (the owner of tomers and dealers. In particular, deal- sales per month nationwide. Dealers the Citroën, Opel, Peugeot and Vaux- ers will be able to manage their inven- using Drive Motors can now submit hall vehicle brands) and BNP Paribas tory via wholesale financing solutions consumer finance applications directly had come together to acquire the developed by BNP Paribas Personal to Ally Financial. Meanwhile, aside automotive finance operations of Finance. from its new digital distribution links, Opel (in Europe) and Vauxhall (in the Ally has also signed an agreement UK). with Sonic Automotive, a vehicle re-

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

product created by JA Bank, a com- buy-outs. munity-based financial institution for Crédit Agricole Consumer Fi- farmers in the Iwate prefecture. The CONSUMER FINANCE nance prolongs partnership with loan, which is capped at JPY 10 mil- Mazda for five more years lion and has a maximum term of ten Crédit Agricole Consumer years, can be used to finance new and Finance engages with Bankia for Also in France, Crédit Agricole Con- used cars and motorcycles, as well as joint venture in Spain sumer Finance has announced an other vehicles including snowmobiles, extension of its agreement to provide water bikes, leisure boats and camper In Spain, Crédit Agricole Consumer financing for customers of Mazda vans. Finance has entered into exclusive through its Viaxel label until 2022. ______negotiations with Bankia that are The agreement, which was first signed aimed at establishing a joint venture in 2009, covers financing solutions for COMMERCIAL BANKING in the consumer finance business. Mazda’s stock of new and demonstra- Crédit Agricole Consumer Finance tion vehicles, plus loans and operating Wesleyan wins mandate from the has stated that it hopes to increase leases for consumers sold under the Law Society of England and Wales its visibility in Spain and that the Mazda Finance brand. proposed joint venture could be In an initiative that is similarly aimed at beneficial in this respect. Carfinco links with LGM for auto- legal practitioners, this time in the UK, motive finance and insurance solu- the Law Society of England and PayU ties with Kreditech for tions in Canada Wales has appointed Wesleyan to be online consumer finance in India the exclusive provider to its members In Canada, Carfinco, a subsidiary of of both commercial and personal In India, PayU, an online payment Santander, has begun working with financial solutions. Law Society mem- service provider that belongs to the automotive finance provider LGM bers are now able to access a broad Naspers group, has begun working Financial Services in the non-prime portfolio of commercial, personal with Kreditech, a digital consumer financing market. The agreement al- finance and protection products from lending firm, to offer both banked lows Carfinco to promote more Wesleyan, which are tailored to sup- and unbanked customers access to broadly its financing options that en- port them at every stage of their ca- a monthly credit facility, branded as able dealers to offer a diverse array of reers. ‘PayU Monedo’ for use on popular credit solutions to consumers and e-commerce sites. This initiative should help LGM to increase sales of Wesleyan's commercial finance solu- follows the original creation of a its insurance and protection products. tions include flexible short-term ex- strategic partnership by the LGM’s nationwide network of dealer penditure funding for the acquisition companies in May 2017 with a development managers will provide of practising certificates as well as focus on this field. The partnership sales support for the non-prime lend- and VAT purposes. Other products saw an investment of EUR 110 ing solution. include professional indemnity insur- million made by PayU in Kreditech, ance for lawyers, medium-term loans which was the largest-ever equity Orient Corporation provides back- covering investment in technology investment in a German fintech ing for JA Bank’s new vehicle fi- and associated IT services including company. nance product cyber and data security, and long-term financial solutions to facilitate business The scheme allows PayU’s In Japan, Orient Corporation has mergers and acquisitions, commercial customers to make use of the credit agreed to back a new vehicle finance mortgages and partner buy-ins and facility in less than two minutes for

www.finaccord.com 14 Global Affinity Finance Club Affinity Banking online purchases at a cost that is learning. Hosted on WeChat, the conjunction with ferry and light rail comparable to local banks. Loan service includes an automatic services in . amounts are granted at up to INR overdraft facility in the event that 100,000 (approximately USD 1,500) the customer spends more than the Meanwhile, in the Middle East, with the duration and interest rate balance in their account. Mastercard has also cemented new for the loan set in accordance with ______partnerships with the aim of promul- the perceived likelihood of the gating use of its MasterPass app. In customer to repay the loan on time. MOBILE / ONLINE PAY- Bahrain, it has begun working with After goods have been added to the MENTS CrediMax, a credit card issuer, to inte- cart, the consumer is offered an grate MasterPass payments into the option to select the credit facility as Mastercard unveils multiple new company’s ‘MaxWallet’ app. It has the payment method at checkout. initiatives in digital payments… also joined up with Arab Financial Services, an electronic payments com- A broader objective of the initiative In keeping with previous quarters, pany, to enable MasterPass digital is to make goods and services Mastercard has rolled out a number of payments through ‘bwallet,’ a mobile affordable for Indian consumers partnerships in the area of mobile and wallet that is operated by Batelco, a with lower purchasing power, online payments. For instance, across telecoms firm. Concerning this initia- enabling merchants to expand their the Asia-Pacific region, it has estab- tive, the companies reported that business to new market segments lished several links with transport pro- around 65 retail brands with a com- with the chance of significantly viders to make digital payments avail- bined total of more than 300 outlets higher sales and lower cart able through them. In Singapore, it had signed up to ‘bwallet’, and that abandonment rates. In fact, has started working with the taxi op- MasterPass was allowing access to an Kreditech plans to become a erator ComfortDelGro to allow cus- extra 7 million merchant locations licensed non-banking financial tomers to make payments using the worldwide. Moreover, in Qatar, company (NBFC) in India in the MasterPass app for street-hailed rides Mastercard has partnered with Oore- near future and has filed an as well as for pre-booked ones. The doo, another telecoms company, to application with the Reserve Bank scheme follows an earlier one with allow the latter’s customers to pay for of India to that end. Singapore’s Land Transport Authority its services through its mobile app by that allows contactless payments on using MasterPass. Bank of China collaborates with buses and trains. Tencent for digital financial … spanning all global regions… services for students In respect of this initiative, Mastercard reported that, since the launch of this Turning to Europe, Mastercard has In China, the Bank of China has program, over 100,000 commuters introduced several new initiatives that disclosed that it has begun working were using the cards bearing the will allow its cardholders to pay their with Tencent, a multinational e- Mastercard marque to pay for an aver- restaurant bills digitally. In the UK, it is commerce group, to create a digital age of more than 60,000 daily trips. working with Pizza Hut and Waga- platform, known as ‘BOC Furthermore, in Hong Kong, users of mama, collaborating specifically with Microservices’, that provides the taxi-hailing app HKTaxi can now the latter to develop a Wagamama- university and college students and make payments for their journey branded app. In Italy, it has formed an employees with access to its through the app using Mastercard, alliance with food hall chain Eataly to products and services, which and following a trial period, Master- allow customers to make payments include loans for campus-related card has also announced the launch of via MasterPass. Aside from these din- activities such as training and contactless payments in Australia in ing-oriented schemes, Mastercard has

www.finaccord.com 15 Global Affinity Finance Club Affinity Banking also commenced a partnership with online business listing service, which is MegaFon, a Russia-based mobile net- to be rolled out first in Nigeria. In work operator, that allows its sub- keeping with the aforementioned ini- Both global payment brands seek scribers to link their mobile phone tiative with Selcom, the aim is to pro- to encourage payments via wear- accounts to Apple Pay or Samsung vide micro-enterprises and SMEs able devices… Pay using a virtual Mastercard, and to with access to MasterPass. At the time make contactless payments of up to of the announcement, Vconnect re- Otherwise, as wearable payment de- RUB 100,000 each month. This an- ported that its database included over vices continue to gain popularity, nouncement follows MegaFon’s in- 1 million such businesses. Mastercard Mastercard has introduced a number troduction of a co-branded Master- also stated that over 85% of retail of schemes to meet the demand. In card product in 2016 that is issued by transactions in Africa are currently France, it has partnered with Crédit Round Bank. MegaFon reported that carried out in cash, and that it hopes Mutuel Arkéa to launch a virtual credit by the end of 2017 over 1.2 million of to encourage more people to make card which can be used to make digi- these cards had been issued. the switch to mobile banking. tal payments using wearable devices. At the time of the launch, payments In North America, Mastercard is col- … and Visa follows suit through were possible using connected laborating with HERE Technologies, new launches in Italy and Switzer- watches produced by both FitBit and a mapping and location data services land Garmin. company, on digital payment capabili- ties that can be activated from within a Like Mastercard, Visa has also been Likewise, Visa has set up several new user’s vehicle while it is in motion. It very active in growing its presence in arrangements for the promotion of has also teamed up with Dream Pay- the mobile payments sector. For ex- payments via wearable devices. For ments, a payment solutions company, ample, in Italy, it has anounced that its instance, it has joined forces with the to facilitate claims payments from credit and debit cards can be added to National Bank of Greece to develop insurance companies to their policy- Samsung Pay, allowing cardholders to payment-enabled jewellery, working holders, with one of its first partners use Samsung mobile phones to make specifically with jewellery manufactur- being Northbridge Financial, a Can- contactless payments at any location ers Folli Follie and Links of . ada-based insurer. that accepts Visa cards. At the time of The companies plan to produce rings launch, the service was available for and bracelets using contactless pay- Lastly, in Africa, Mastercard has be- Intesa Sanpaolo, Nexi and UniCredit ment technology in the second half of gun working with Selcom, an East cardholders. 2018. It has also announced a similar African fintech company, which is partnership in Spain with CaixaBank aiming to promote mobile payments In Switzerland, Visa is collaborating and Garmin whereby it will be possi- in Tanzania. Through this arrange- with BonusCard to allow cardholders ble to make payments using Garmin ment, Mastercard will gain access to to make mobile payments using any watches linked to Visa cards that are Selcom’s network of merchants, al- NFC-enabled Android phone. The issued by CaixaBank. lowing Selcom to accept digital pay- mobile app also allows access to the ments through MasterPass. The part- user’s credit card account to check on Additionally, in a new initiative that is nership also enables banks, other fi- balances and transactions, to locate relevant to cardholders with both nancial institutions, mobile network cash dispensers and to activate and de Mastercard and Visa products, Nor- operators and SMEs to offer Master- -activate associated cards whenever dea has launched a contactless pay- Pass to their customers. Furthermore, necessary. ment solution that can be activated by Mastercard has also formed a partner- users of Fitbit and Garmin wearable ship with Vconnect, an Africa-based devices who also hold a Mastercard or

www.finaccord.com 16 Global Affinity Finance Club Affinity Banking

Visa debit or credit card that it has Meanwhile, Wells Fargo has an- transactions directly through Messen- issued. This scheme has already been nounced that its customers are now ger. The service is managed by the rolled out in Denmark, Finland and able to use Garmin’s new ‘vívoactive bank's virtual assistant which can con- Sweden. 3’ device to make purchases at mer- verse with customers through a chat- chants whose payment terminals are bot program on Messenger. … as do other providers targeting set up to accept contactless or NFC this fast-growing field payments. Wirecard discloses new initiatives with Crédit Agricole and Allianz… Aside from Mastercard and Visa, sev- Facebook works with several pay- eral other providers of financial ser- ment partners through its Messen- In keeping with its activity in previous vices and traditional banks are also ger function quarters, Germany-based technology making forays into the field of wear- and financial services provider Wire- able payments. In the US, Discover At an international level, a number of card has continued to expand collabo- has started working with FitPay, a payment service providers have capi- ration with a number of organisations wholly owned subsidiary of NXT-ID, talised on the high penetration rate of in the area of digital payments proc- a producer of technology products Facebook, specifically its Messenger essing. For example, in France, it has and services focused on the so-called function, to make digital transactions won Crédit Agricole as a new cus- Internet of Things (IoT). The agree- possible through the app. tomer; this means that the companies ment enables Discover’s cardholders will jointly provide new e-commerce to make contactless payments easily at Firstly, in Belgium, Belfius, a banking payment acceptance and acquiring retail locations with wearable devices and insurance group, has launched a services which will become available powered by FitPay. new service that facilitates payments to their customers at the beginning of between individuals via Messenger. 2019. Furthermore, following the initial suc- The service is available through the cess of its partnership in 2017 with the Belfius mobile app and is also directly Furthermore, it has launched a new Timex Fairfield Contactless watch, accessible from Messenger to all users mobile payment app in conjunction Barclays has stated that it will embed of the platform with a Belgian current with both Allianz Partners and Visa. bPay, its wearable payments solution, account, regardless of whether they Branded as ‘Allianz Prime’, its users into traditional timepieces and fitness are customers of Belfius. A similar will be able to make secure mobile trackers manufactured by each of initiative has been rolled out with mo- transactions at all terminals worldwide. ADEXE, GUESS Watches, LBS, bile messaging service WhatsApp. with a contactless payments function- Kronaby, Mondaine and Suunto. The ality. The app will be rolled out first in relationship with LBS is of added sig- Secondly, in Nigeria, Mastercard has Italy before being expanded to other nificance since bPay and LBS are co-operated with Ecobank, Facebook European markets. Customers who working together to launch the and Zenith Bank to launch its Master- download the app and register for the ‘TapStrap’, a replacement strap that Pass app, allowing digital payments to service instantly receive a digital Visa can be fitted to any watch with a stan- be made to businesses through Mes- card issued by Wirecard. These cards dard strap size. To support produc- senger. This collaboration is a pilot can be topped up from any existing tion of these contactless products, scheme albeit Mastercard plans to roll bank account or via the customer’s bPay is working with Tappy, which is the service out to other countries in credit card and to enable contactless authorised to embed the bPay chip Africa and Asia in due course. mobile payments at the point of sale, into its partners’ products. Barclays users just have to add the card with has reported that spending via bPay Thirdly, customers of Banco do Brasil one click to their mobile wallet. rose by 129% in 2017. are now able to carry out banking

www.finaccord.com 17 Global Affinity Finance Club Affinity Banking

… plus others with Qatar Airways, UnionPay seeks to roll out Huawei over 520 million users worldwide, has Villeroy & Boch and two English Pay mobile payments outside of signed an agreement with Millennium football clubs China BCP that will grant the bank the right to facilitate transactions involving Chi- Other similar agreements that Wire- In partnership with telecoms manu- nese travellers and local merchants. card has made in the field of digital facturer Huawei, China-based pay- ______payments include one with Qatar Air- ment brand UnionPay has embarked ways to enable Alipay transactions at on an initiative to jointly launch PAYMENT CARD ISSUANCE all 90 outlets operated by the airline’s Huawei Pay, a mobile payments app, AND ACCEPTANCE retail subsidiary, Qatar Duty Free. in markets outside of China. The in- Another analogous partnership with tention is that customers will be able JCB expands card issuing capa- Villeroy & Boch will see Wirecard to add UnionPay cards to smart- bilities in Belarus, the Philippines offering the alternative digital payment phones carrying the Huawei Pay func- and Vietnam options including SOFORT, iDeal tion and to tap their phones at point- and Bancontac to the retailer’s cus- of-sale terminals that accept UnionPay With a view to expanding its global tomers. Wirecard will also be manag- contactless payments. presence, Japan-based card brand JCB ing credit card acceptance and all pay- has unveiled a number of partnerships ment processing for Villeroy & As part of the so-called ‘Belt and with a variety of banks. In addition to Boch’s new online shop. Road’ initiative (a development strat- new cards being launched through egy devised by the Chinese govern- RCBC in the Philippines and Nam A Meanwhile, in the UK, Wirecard has ment that focuses on economic ex- Bank in Vietnam, JCB has also made expanded the scope of its collabora- pansion between Eurasian countries its first foray into Belarus by conclud- tion with Fortress, a digital ticketing that lie within close geographical prox- ing a deal with Belinvestbank that service provider, by adding football imity of China), Russia is the first mar- allows acceptance of its cards at all clubs Aston Villa F.C. and Reading ket in which UnionPay will test this ATMs and point-of-sale terminals run F.C. to its client list. Fans of both out. UnionPay states that its accep- by the bank. The move aims to facili- clubs now have the opportunity to tance penetration rate in Russia is over tate card payments by Japanese tour- activate a payment and loyalty option 85% with around 400,000 point-of- ists in the country, with Belarus having on their stadium cards, which will be sale terminals accepting mobile con- loosened its visa regulations for Japa- offered with both chip-and-pin as well tactless payments from UnionPay. nese citizens as well as those from 79 as contactless functionality. Further- Indeed, in total, Russian banks have other countries from February 2017 more, Reading F.C. is negotiating issued around 1.3 million UnionPay- onwards. deals with local retailers and other branded cards locally. Next, UnionPay partners to sign up to the scheme. and Huawei plan to launch Huawei UnionPay forges several alliances The club intends to get a better under- Pay in further markets especially in to expand its global footprint standing of its supporters’ buying be- Eastern Europe. haviour through the payment data, UnionPay has also been proactive in with the aim of offering them further Alipay works with Millennium expanding its merchant network via a products and services of interest. BCP to help Chinese travellers in range of new initiatives. First, it has Portugal entered into a partnership with ACI Worldwide, a provider of e-payment Meanwhile, in Portugal, Alipay, a and banking solutions which claims to China-based mobile and online pay- work with more than 5,100 major ment platform that claims to have financial institutions and merchants

www.finaccord.com 18 Global Affinity Finance Club Affinity Banking around the world. The parties have RETAILER CARDS AND tomer focus of Bass Pro Shops, there agreed to co-operate in the fields of FINANCE will be a particular focus on using the card issuance and acceptance, specifi- card scheme to promote wildlife con- cally targeting merchants in the avia- Klarna teams up with Dutch e- servation programs. tion, e-commerce, hospitality and su- commerce platform to offer con- permarket industries. In the first phase sumer finance via smaller retailers Synchrony Financial works with of the partnership, ACI will integrate Crate & Barrel for private-label and UnionPay into its payments gateway In the Netherlands, Klarna and co-branded cards and the companies will then jointly MyOnlineStore, an e-commerce plat- develop UnionPay’s in-app functions form, have commenced a partnership Also in the US, Crate & Barrel, a as well as its other payment products. that will enable retailers to deploy home furnishings retailer, has selected Klarna’s online payment and con- Synchrony Financial to be its provider UnionPay has also forged analogous sumer finance service. MyOnli- of both a private-label store card and a agreements for card acceptance with neStore, which has over 42,000 SME co-branded Mastercard product. The Qatar Airways, as well as with the retailer users and which processes partnership is intended to provide Australian and Thai operations of car around 1.5 million transactions each flexible financing options that will rental company Hertz. The former year, will manage all payments and reward customers for loyalty across agreement will first be rolled out for orders as well as customer service. nearly 100 of the retailer’s stores and UnionPay’s customers booking with Through its relationship with Klarna, also through its digital channels. Fur- the airline in Brazil, Canada, India, MyOnlineStore hopes that it will be thermore, the co-branded card will Kuwait, Oman, Qatar, South Africa able to maximise checkout conversion allow customers to earn rewards for and Switzerland, while the latter aims rates and facilitate all types of card and purchases anywhere that Mastercard to capitalise on the increasing flow of mobile transaction with the added is accepted. Chinese tourists to both Australia and benefit of Klarna’s pay-after-delivery Thailand. finance service. Mattress1One selects TD Bank for multi-year store card program Discover strengthens presence in Bass Pro Shops switches Cabela’s Hong Kong market by working retailer card scheme to Bank of Finally, in another initiative in the US with First Data and JCB America and Mastercard retailer card market, TD Bank has signed a multi-year agreement to de- In Hong Kong, Discover has an- In the US, Bass Pro Shops, an out- velop a private-label store card pro- nounced that it has begun collaborat- door activity retailer, and its subsidiary gram for Mattress1One, a mattress ing with JCB and First Data, a mer- Cabela’s, which it acquired in 2017, retailer that serves customers at chant acquirer, to expand card accep- have announced that the co-branded around 300 locations across Florida, tance at key merchants in the country. credit card program of both chains Georgia and Texas. First Data will enable acceptance of will be handled by Bank of America in Diners Club and Discover cards that future with Mastercard used as the ______operate on the JCB network, begin- payment network. Previously, the co- ning with key international restaurant branded scheme of Cabela’s had used chains, airport duty free stores and Capital One as issuer and Visa as net- national department stores. work; the card portfolio built up un- ______der this program is being transferred to Bank of America. Moreover, going forwards, and in line with the cus-

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Organisations in this issue

ACI Worldwide, 18 Crédit Agricole Consumer Finance, 14 MegaFon, 15, 16 Aetna, 7 Crédit Mutuel Arkéa, 16 Millennium BCP, 18 AIG, 10 CUMIS 12 Mobiliti, 13 Aon, 5 DAS, 5 MyOnlineStore, 19 Aon Affinity, 10 Deposits.com, 5 My Online Camp, 10 Alipay, 18 Deutsche Bank, 12 Nam A Bank, 18 Allianz, 5, 6, 12, 17 Dialogue, 7 National Bank of Greece, 16 Allianz Global Assistance, 9, 10 Diners Club, 19 Nexi, 16 Allstate, 9 Discover, 17, 19 Nordea, 16 Ally Financial, 13 Dream Payments, 16 Northbridge Financial, 16 American Well, 6 Ecobank, 17 NXT-ID, 17 Apple, 5 ERV, 10 Ooredoo, 15 APRIL, 6, 7 Euler Hermes, 5 Opel Vauxhall Finance, 13 Aston Villa F.C., 18 Europ Assistance, 5, 8 Orient Corporation, 14 Audi Financial Services, 13 Expedia, 10 PayU, 14 AutoGravity, 13 Facebook, 17 Pizza Hut, 15 Aviva, 7 Federación Española de Baloncesto, 8 PSA group, 13 AXA, 6, 8, 9 Fédération Française de Golf, 12 Qatar Airways, 18, 19 Banco do Brasil, 12, 17 Feuersozietät Berlin Brandenburg 9 Quality Healthcare, 7 Bank of America, 19 First Data, 19 RCBC, 18 Bank of China, 15 Fitbit, 16 Reading F.C., 18 Bankia, 14 Folli Follie, 16 Round Bank, 16 Barclays, 17 Friendsurance, 12 Saga, 10 Barmenia Kranken, 9 Garmin, 16 Samsung, 16 Basler, 9 Generali Global Assistance, 5 Santander, 14 Bass Pro Shops, 19 Geo Underwriting, 5 Seguros Bolívar, 7 Batelco, 15 GetMyCar, 8 Selcom, 16 Belfius, 17 Gothaer, 9 simplesurance, 10 Belinvestbank, 18 Grab, 6 Solunion, 5 Bénéteau, 9 Gras Savoye, 12 SSQ Insurance, 7 BlaBlaCar, 8 Groupama, 12 Sterling Pharma, 6 Blue Cross Blue Shield Global, 7 HanseMerkur, 11 Synchrony Financial, 19 Blue Zebra, 11 HealthTap, 7 Talanx, 6 BNP Paribas Cardif, 7, 12, 13 HERE Technologies, 16 TD Bank, 19 BonusCard, 16 Hertz, 19 Tencent, 15 Braunschweig Beteiligungsgesellschaft, 9 Huawei, 18 The Co-operators, 12 Brightstar, 10 Interhome, 10 The Hanover, 5 Bupa, 7 Intesa Sanpaolo, 16 tourVERS, 11 By Miles, 8 JA Bank, 14 Uber, 6, 9 CaixaBank, 16 JCB, 18 UNICRE, 5 Car Care Plan, 9 Klarna, 19 UniCredit, 16 Carfinco, 14 Kreditech, 14, 15 UnionPay, 18, 19 CarGarantie, 9, 10 Law Society of England and Wales, 14 USI Affinity, 5 Cellcom, 10 LBS, 17 Visa, 16, 17, 19 Chubb, 6 LGM, 14 Vconnect, 16 Cisco, 5 Links of London, 16 Villeroy & Boch, 18 Collinson Group, 10 LV=, 12 Volkswagen Financial Services, 12 ComfortDelGro, 15 Malakoff Médéric, 7 Wagamama, 15 Consejo General de Graduados Sociales, 11 Pablow, 9 Wells Fargo, 17 Cover Wallet, 6 MAPFRE, 5, 11, 12 Wesleyan, 14 Crate & Barrel, 19 Mastercard, 15, 16, 17, 19 Wirecard, 17, 18 CrediMax, 15 Mattress1One, 19 Zenith Bank, 17 Crédit Agricole, 17 Mazda, 10, 14 Zurich, 6, 8, 11

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About GAFC About Finaccord Does your organisation have The Global Affinity Finance Club is Finaccord is a market research, news about its affinity or Finaccord’s quarterly newsletter publishing and consulting com- partnership marketing rela- about affinity financial services pany specialising in financial ser- tionships that we missed in vices. It is part of Aon Inpoint, worldwide. Through this, Finac- this newsletter? To produce Aon Risk Solutions, a division of cord publishes high-level informa- it, we systematically research tion about key strategic develop- Aon plc (NYSE: AON). We pro- over 350 major financial ser- ments in affinity and partnership vide our clients with insight with a vices institutions from marketing of financial services particular focus on marketing and around the world, segmented be- distribution strategies, including around the world each quar- tween affinity insurance news, ban- affinity and partnership marketing. ter. However, if you would cassurance news and affinity bank- also like us to include your ing news. Our areas of expertise include: af- company in this research, finity and partnership marketing; please send an e-mail to This service differs from that pro- automotive financial services; ban- [email protected] and we vided by other research companies cassurance; commercial non-life will ensure that it is tracked because its focus is genuinely insurance brokers; consumer intel- in future quarters. global, often translating news that ligence; creditor insurance; distri- only appears in languages other bution channels; energy and power To access the archive of news than English. In addition, it con- insurance; extended warranties; from the Global Affinity Fi- home emergency insurance and centrates exclusively on affinity nance Club please visit assistance; insurance and assistance and partnership marketing strategy. www.finaccord.com/afi Affinity and partnership marketing linked to payment cards and bank strategy is an important compo- accounts; mobile gadget and phone nent of general distribution strat- insurance; retailer financial ser- egy for a majority of large banks vices; road assistance; small busi- and insurance companies serving ness financial services; and travel consumers and small businesses, as insurance and assistance. successful partnerships potentially allow them to access groups of © Finaccord, 2018 customers that they cannot always reach by themselves. The Office Farringdon 24 Greville Street If you would like to join Finac- London, cord’s Global Affinity Finance Club , EC1N 8SS contact us by telephone or send us an email to [email protected] . Phone: +44 20 3178 2556 Thereafter, each quarter, we will Email: [email protected] send you a link to the page of our www.finaccord.com website with fresh news and future editions of this document.

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