AFFINITY INSURANCE QUARTER 3 2018 BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club! As has been the case in recent quarters, affinity and partnership mar- keting deals with a strong digital slant are especially prominent in this latest round-up. Examples include Onlia (a personal lines insurance joint venture set up by Achmea and Fairfax Financial in Canada), the tie of Friendsur- ance with Ottonova (for digital health insurance in Germany), and the mandate acquired by Urgent.ly with Uber in the US for on- demand, app-based road assistance (complementing the launch of a co-branded debit card for Uber drivers issued by GoBank). Another notable initiative is an online platform for vehicle owners in China (incorporating motor insurance, vehicle finance and other related services) established by two giants of the country’s financial services sector, namely ICBC and PICC. In a similar vein, Allianz and Deutsche Bank are working in Germany with Auto1, an online marketplace that matches individuals wishing to sell used cars to dealerships, to launch a new venture called Auto1 Fintech. Again, this has a focus on insurance and finance products but this time with the vehicle dealerships as the target customers. Elsewhere, China-based payment brand UnionPay continues to take steps to establish itself at an international level. Its latest ventures include the launch of a co-branded credit card with Ctrip and Sumi- tomo Mitsui in Japan plus various other initiatives to boost issuance and acceptance of its cards in geographies as diverse as Belarus, Can- ada, France, Panama, Serbia, Spain, Uganda and Ukraine. 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 Gras Savoye links with online Moderna Försäkringar wins man- broker to target French travel date from Swedish car sharing plat- ASSISTANCE 5 agents 6 form 8 Allianz Partners acquires Spain- HOUSEHOLD INSURANCE 7 Direct Line Group sets up new based assistance and claims man- partnership with Volkswagen In- agement specialist 5 surance Services 8 Signal Iduna collaborates with ELEMENT for household cover esure sells discounted motor in- Gothaer boosts smart home of- for Borussia Dortmund fans 7 fering through partnership with surance through Blue Light Card Grohe 5 Scheme 8 LIFE, HEALTH AND CREDI- ARAG seals agreement with in- TOR INSURANCE 7 NICHE INSURANCE 9 surtech firm for home emergency and legal protection cover 5 Aetna International ties with Hu- Allianz ties with French housing manis for multiple health insurance rental platform for cover aimed at initiatives 7 Uber selects Urgent.ly for on- students 9 demand, app-based road assis- Bupa teams up with Babylon for tance 5 DAS wins legal protection insur- digital healthcare services 7 ance mandate with Legal & Gen- eral 9 Europ Assistance secures road as- Friendsurance collaborates with sistance tie with LeasePlan in Ita- Ottonova, a provider of digital Moderna Försäkringar promotes ly… 5 health insurance 7 pregnancy and childbirth insurance via app developer 9 … and commences road assistance Sumitomo Life launches Vitality- partnership with Renault in Portu- branded health insurance module PRODUCT WARRANTIES / gal 6 in Japan 7 INSURANCE 9 International SOS subsidiary pro- APRIL works with French real Allianz Partners renews extended vides risk management and assis- estate website for mortgage- warranty partnership with Mazda in tance services to Luxaviation 6 related creditor insurance 8 the UK 9 COMMERCIAL INSURANCE 6 AXA gains opportunity to dis- Europ Assistance seals product tribute insurance to members of insurance tie with retailer of Mitsui Sumitomo secures com- Catalan Tennis Federation 8 flooring products in Poland 9 mercial insurance partners in Kenya and Mozambique 6 MOTOR INSURANCE 8 TRAVEL INSURANCE 9 ARAG works with Mercia Un- Allianz introduces insurance for Allianz Global Assistance makes derwriting for commercial legal customers of Wikicampers… 8 travel cover available to users of expenses insurance 6 Brisbane Airport website 9 … and crafts affinity product for Streetscooter in Germany 8 www.finaccord.com 2 Global Affinity Finance Club China Taiping launches travel Nobis Filo Diretto and Extrabanca Intesa Sanpaolo gains access to insurance product on Ctrip.com combine to devise product for non Italian post office distribution net- 10 -EU citizens 12 work 14 Cover-More expands in Latin ANZ divests New Zealand life AUTOMOTIVE FINANCE 14 America through multi-country insurance subsidiary to Cigna 12 acquisition 10 FCA Bank becomes accredited MOTOR INSURANCE 12 provider of finance for Aston ERV augments presence in north- Martin in Europe… 14 ern Europe through partnership ICBC and PICC develop online with KILROY International 10 platform for car owners 12 … and sources leasing products from LeasePlan in selected coun- HanseMerkur reinforces travel in- tries 14 surance links in Germany 10 GENERAL 12 Jaguar Land Rover and motor GENERAL 10 BNP Paribas creates non-life in- finance arm of Lloyds Banking surance joint venture with Mat- Group continue to collaborate 14 Generali increases ownership mut 12 stake in joint ventures with Fu- Allianz and Deutsche Bank tie ture Group in India 10 UniCredit concludes strategic with Auto1 for new fintech joint bancassurance agreements with venture in Germany 14 Achmea and Fairfax Financial Allianz and Generali 12 combine for digital personal lines Orient Corporation backs vehicle joint venture in Canada 11 Erste Group extends partnership finance product offered by Dai- with Vienna Insurance Group 13 san Bank 15 China Life forges strategic agree- ments with JD.com and Tencent Affinity Banking CO-BRANDED CARDS 15 11 AFFINITY BANKING AND American Express rolls out new co Bancassurance CARDS 13 -branded card with Marriott hotel group 15 HOUSEHOLD INSURANCE Mastercard and Unilever expedite 11 access to credit for entrepreneurs GoBank and Uber launch new co- branded Visa debit card 15 Legal & General secures house- in Kenya 13 hold insurance partnership with Virgin Atlantic launches affinity Sberbank initiates partnership The Co-operative Bank 11 savings product with Virgin with LUKOIL Group for com- LIFE, HEALTH AND CREDI- Money 13 mercial credit cards 15 TOR INSURANCE 11 Westpac allows home loan cus- UnionPay unveils co-branded Crédit Agricole seals long-term tomers to collect miles with Vir- card in Japan with Ctrip and Su- bancassurance tie with Credito gin Australia loyalty program 13 mitomo Mitsui Card Company Valtellinese 11 15 www.finaccord.com 3 Global Affinity Finance Club Table of contents JCB ties with CIMB Niaga Bank Visa unveils multiple digital and Toolstation and Travis Perkins and Indosat for co-branded pro- mobile payment initiatives 18 for new co-branded business card gram in Indonesia 16 21 Itaú Unibanco launches Apple Bank of China develops credit Pay and Samsung Pay in Brazil 18 GENERAL card program for Chinese stu- dents looking to study abroad 16 Wirecard enables use of China- Alior Bank, Mastercard, Raisin and based payment solutions at Ger- solarisBank work together for CONSUMER FINANCE 16 man department store chain 19 launch of new digital bank 21 Synchrony Financial completes JCB enables use of Google Pay in Finaccord country reports purchase of PayPal’s online con- Japan and Apple Pay in Taiwan sumer credit program in the US 19 Finaccord publishes a variety of 16 reports about the following coun- Google Pay introduced by Aeon tries: Australia; Austria; Belgium; Klarna secures three new finance Credit Service in Japan 19 Brazil; Canada; Chile; China; Co- relationships with diverse part- lombia; France; Germany; India; ners in the UK… 16 Indonesia; Italy; Japan; Malaysia; PAYMENT CARD ISSUANCE Mexico; Netherlands; Peru; Po- AND ACCEPTANCE 19 … and works with Etsy in Ger- land; Romania; Russia; South Af- many 17 rica; Spain; Switzerland; Turkey; UnionPay rolls out multiple initi- the UK; and the US. Crédit Agricole Consumer Fi- atives to enhance presence in in- nance concludes joint venture ternational markets… 19 Alternatively, to see our full list agreement with Bankia 17 of reports organised by country, … including ones in Canada, with more than 60 countries cov- INTERNATIONAL PAY- Spain and Uganda… 20 ered in total, please visit the MENTS / REMITTANCES 17 search-by-country page of our … with JCB following suit in website at www.finaccord.com/ TransferWise integrates pro- Brazil and Russia 20 search-by-country.htm. cessing system into Groupe RETAILER CARDS AND FI- BPCE’s mobile banking apps 17 NANCE 20 Western Union embeds services into digital platforms in China, Synchrony Financial converts Russia and the UK 17 Belk’s private-label scheme to Mastercard-branded program 20 MOBILE / ONLINE PAY- MENTS 18 Alliance Data creates private-label card program for Appliances Mastercard broadens use of store- front window technology through Connection 20 partnership with US clothing retail- er 18 Barclaycard combines with www.finaccord.com 4 Global Affinity Finance Club Affinity Insurance Affinity Insurance News shopping with Grohe will be Uber selects Urgent.ly for on- able to prevent leaks in their demand, app-based road as- ASSISTANCE homes through the additional sistance purchase of two products that it Allianz Partners acquires has developed jointly with Go- In the US, Urgent.ly, a provider Spain-based assistance and thaer, namely a water sensor of on-demand, app-based road claims management special- (‘Grohe Sense’) and a water assistance, has established a ist control system (‘Grohe Sense partnership with Uber, an inter- Guard’). The former triggers an national P2P ride-sharing, taxi In the field of property assis- alarm when its base touches wa- cab, food delivery, bicycle- tance, Allianz Partners has ac- ter and automatically sends a sharing, and transportation net- quired Multiasistencia, a Spain- warning message to the custom- work company, to provide its based company that specialises er’s smartphone. Meanwhile, the drivers with road assistance if in providing assistance services, latter detects cracks in damaged they need it.