AFFINITY INSURANCE SPRING 2015 BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club! This latest edition of the Global Affinity Finance Club covers over 60 recent developments in affinity and partnership marketing of finan- cial services. These include ones with regional or global ramifica- tions, such as the bancassurance link of DBS with Manulife, and the increasing collaboration of MasterCard, Visa and other traditional payment market competitors with Apple and Google for mobile payments, plus others organised at a national or even local level. All are of interest in their various ways although one especially nota- ble innovation in the field of home insurance is the link in the US between Liberty Mutual and Nest, a provider of home security de- vices such as smoke alarms and security cameras. Rather as telematics-enabled policies are viewed by many as the fu- ture of motor insurance, because they utilise technology to set the price of cover in accordance with the apparent risk of the driver, the home insurance product developed by Liberty Mutual and Nest po- tentially means that homeowners can lower the cost of their house- hold cover by demonstrating the degree to which they safeguard their property through functioning intelligent home security devices. In addition, other progressive-looking deals include those of Allianz with Uber in France, PassportCard with Allianz Global Assistance in Germany, Zurich with Yahoo! Wallet in Japan, and Wirecard with Kairos (a maker of intelligent watches and other ‘wearables’) for contactless payments. 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 News HEALTH INSURANCE 6 Solid Försäkringar earns affinity insurance ties with bicycle manu- ASSISTANCE 5 MMI Holdings creates Indian facturer brands 8 health insurance joint venture 6 International SOS renews busi- TRAVEL INSURANCE 8 ness travel assistance contract Cigna and SCAN Health Plan with MTN 5 collaborate on healthcare options Collinson Group joins forces for employer clients 6 with Zurich to target airline travel RAC secures new deals with UK insurance market… 8 vehicle management and leasing HOUSEHOLD INSURANCE 6 companies 5 … and strengthens corporate as- Liberty Mutual works with Nest sistance capabilities through new Europ Assistance collaborates for intelligent household cover 6 acquisition 8 with MAN Financial Services for road assistance 5 MOTOR INSURANCE 7 Allianz Global Assistance selects PassportCard for travel health AXA Assistance links with In- Generali and Telefónica join expense claims solution 8 sure4Retirement for home emer- forces to develop driver perform- gency cover 5 ance app 7 UK General links with travel in- surance specialist for villa rental COMMERCIAL INSURANCE Ageas forges motor insurance protection policy… 9 5 agreement with Volkswagen Fi- nancial Services 7 …and seeks growth outside of Allianz initiates commercial in- the UK through deal with Fit 2 surance relationship with Uber in Brightside secures motor insur- Trip 9 France 5 ance affinity link with Royal Lon- don 7 Zurich works for travel cover Atradius ties with export trade with Japanese mobile commerce credit insurer in Russia 5 PRODUCT WARRANTIES / specialist 9 INSURANCE 7 Allied World creates professional GENERAL 9 liability scheme with association Asurion wins mobile device in- for addiction professionals 5 surance mandate with Mexican AXA offers personal lines cover mobile operator brand 7 to members of Spanish associa- Allianz enters into GBP 770 mil- tion of lawyers… 9 lion underwriting deal with Tow- eSecuritel and NQ Mobile form ergate 6 alliance for comprehensive dam- … and extends co-operation with age-to-data protection 7 trade union representing Spanish CREDITOR INSURANCE 6 airline pilots 9 MAPFRE Warranty unveils tyre Genworth simplifies process for insurance product with Peugeot Zurich creates affinity deal with US lenders to obtain mortgage Scooters 8 Spanish business school alumni insurance 6 association 9 www.finaccord.com 2 Global Affinity Finance Club Moderna Försäkringar offers in- Vietnam 11 newable power installations for surance to Swedish football club PrimesEnergie.fr customers 12 supporters 10 EastWest Bank forms joint ven- ture with Ageas for life insurance CO-BRANDED CARDS 13 Desjardins renews partnership in the Philippines 11 with New Brunswick credit un- American Express rolls out co- ion 10 CNP Assurances develops new branded credit card for Plenti coali- endowment contract with Banque tion loyalty program… 13 Intact Insurance becomes official Privée 1818 11 insurer of Canadian federation of … and reveals plan to launch co- snowmobile clubs 10 Banco Sabadell acquires full con- branded cards with Charles trol of life bancassurance com- Schwab 13 MassMutual reinforces commit- pany 11 ment to the Latino community VietinBank links with JCB and through Univision partnership 10 TRAVEL INSURANCE 12 Sanrio Wave to offer Hello Kitty card in Vietnam 13 Bancassurance MAPFRE Asistencia ties with bank in El Salvador for travel MOBILE / ONLINE PAY- ACCIDENT AND HEALTH insurance 12 MENTS 13 INSURANCE 10 GENERAL 12 Payment card companies enable BNP Paribas Cardif works with customers to use Apple Pay and Mutuelle Mieux-Etre for new Manulife takes over as primary Android Pay 13 health insurance policy 10 bancassurance partner of DBS 12 Visa rolls out V.me digital wallet Zurich links with Yahoo! Wallet AXA acquires Polish non-life ban- service with UK banks 14 and Japanese banks for free traf- cassurer from Commerzbank unit fic accident cover 10 12 MasterCard launches Qkr! pay- ment app in the US with restau- LIFE INSURANCE 11 Ecobank works with trio of in- rant partnership 14 surers for non-life bancassurance LIC prepares for bancassurance in Kenya 12 Boku and Optimal Payments activity with Bandhan and UBI team up to offer carrier billing 11 Affinity Banking via secure platform 14 Manulife rolls out flexible estate AUTOMOTIVE FINANCE 12 TEB works with Monitise for planning policy with trio of Japa- new digital banking service 14 nese banks… 11 Ally Financial gains automotive finance deals with Aston Martin Wirecard facilitates broader use ... and introduces sharia- and Mitsubishi Motors 12 of Orange Cash in Spain… 15 compliant life insurance product with Indonesian bank 11 CONSUMER FINANCE 12 … and embeds mobile payment technology into Kairos watches Dai-ichi Life secures pioneering Groupama Banque finances re- 15 bancassurance partnership in www.finaccord.com 3 Global Affinity Finance Club Table of contents PAYMENT CARD ISSUANCE Finaccord country reports AND ACCEPTANCE 15 Finaccord publishes a variety of JCB extends merchant accep- reports about the following coun- tance to Jordan through EMP tries: link… 15 Australia … and works with BCEL for Austria credit card issuance in Laos 15 Belgium Brazil RETAILER CARDS AND FI- Canada NANCE 16 China France Sofinco and Darty enhance con- Germany sumer credit partnership 16 India Indonesia Scotiabank finalises purchase of Italy majority stake in Cencosud’s fi- Japan nancial services operation 16 Malaysia Netherlands Alliance Data signs deal to pro- Poland vide private-label card programs Romania for Cornerstone… 16 Russia South Africa … and extends card partnership Spain with Talbots 16 Switzerland Turkey MasterCard helps to endow private UK -label cards with mobile payment USA functionality 16 Alternatively, to see our full list GENERAL 17 of reports organised by country, with more than 60 countries cov- BMO Bank of Montreal expands ered in total, please visit the ATM footprint through Shell re- search-by-country page of our lationship 17 website at www.finaccord.com/ search-by-country.htm . Westpac partners with Australia Post for basic banking services 17 www.finaccord.com 4 Global Affinity Finance Club Affinity Insurance Affinity Insurance News tor and professional liability in- Europ Assistance collabo- surance products underwritten ASSISTANCE rates with MAN Financial by Allianz. These can be ac- Services for road assistance quired either by phone or via International SOS renews any of the 2,530 Allianz agencies business travel assistance In Portugal, Europ Assistance based in France. contract with MTN has partnered with MAN Finan- cial Services, a subsidiary of VW Atradius ties with export Mobile telecoms company Group, to provide road assis- trade credit insurer in Russia MTN, which is based in South tance. Customers leasing private Africa, has renewed an agree- and commercial Audi, SEAT, Trade credit insurer Atradius ment with medical and travel Škoda or Volkswagen vehicles has announced the creation of a security services group Interna- will be able to opt into this ser- new partnership with EXIAR, a tional SOS for a further three vice. Russian export trade credit in- years. International SOS will surer that was established in continue with the existing agree- AXA Assistance links with 2011. This is intended to gener- ment to provide medical screen- Insure4Retirement for home ate new transactions for both ing, tracking, assistance and ad- emergency cover companies across a wide range vice to MTN business travellers, of sectors by creating a common of whom there are more than In the UK, AXA Assistance has risk-sharing platform and 10,000. The partnership of the announced that it will provide through sharing experience and two companies was first