Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups Global Bancassurance Product and Partnership Strategies in Accident and Health Insurance of the World's Top 500 Retail Banking Groups Report Prospectus December 2017 © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 1 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups Prospectus contents Page What is the research? 3 How do country-specific retail banking units covered break down by region and group? 4 What is the report structure? 5 Output example: banking group involvement in accident and health insurance plus unweighted and weighted provider share of partnerships 6 What are the key features of the research? 7 How can the research be used? 8 How can the Partner BASE™ be used? 9 Who can use the research? 10 What are some of the key findings? 11-13 Which banking groups are covered? 14-17 What is the cost and format? 18 Country-specific reports about bancassurance 19 How can the research be purchased? 20 © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 2 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups What is the research? Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World's Top 500 Retail Banking Groups is a report and PartnerBASE™ dataset that provides an overview of the involvement in accident and health insurance of 500 of the world’s leading consumer banking groups. These have been selected through a formula that considers the value of their total assets, the degree to which they have significant consumer banking operations (thereby excluding pure investment and corporate banking groups) and their rank by number of retail banking customers within each of over 100 countries in scope. In total, the research investigates 1,572 retail banking units and other lending institutions since many of these groups are active in retail banking in multiple territories. For example, the study analyses the bancassurance operations of BNP Paribas across a total of 32 countries. For each country-specific unit, it ascertains which of accident insurance, health / hospital cash plans and medical expenses insurance are offered, the operating model used where they are available (differentiating, for example, between external, joint venture and captive underwriting partners) and the identity of the insurance providers in each case. This dataset is then used to analyse the strategies of each of the 500 retail banking groups in scope for these three product classes. Moreover, the PartnerBASE™ dataset can be employed to analyse the bancassurance agreements identified in terms of both unweighted and weighted partnerships. © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 3 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups How do country-specific retail banking units covered break down by sub-region and group? American Express 60 Sub-Saharan BNP Paribas 45 Africa, 186 Santander 38 North America Asia-Pacific and the region, 364 HSBC 34 Caribbean, 75 Société Générale 29 Standard Chartered 28 Middle East Citigroup 27 and North Raiffeisen Bankegruppe 24 Africa, 159 Australasia, 30 Crédit Agricole 23 Scotiabank 20 Crédit Mutuel 16 UniCredit 16 Latin America, Ecobank 15 186 Groupe BPCE 15 Intesa Sanpaolo 14 Europe, 572 BBVA 14 others 1,154 0 20 40 60 80 100 Source: Finaccord Global Bancassurance PartnerBASE for the World’s Top 500 Retail Banking Groups © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 4 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups What is the report structure? 0. Executive Summary: providing a concise evaluation of the principal findings of the report. 1. Introduction: offering rationale, description of methodology and some definitions. 2. Group Strategy Overview: this chapter uses data gathered across the 500 banking groups researched for this report (via the 1,572 country-specific banking units and other lending institutions belonging to them) in order to give a combined analysis of their product and partnership strategies for accident and health insurance. As such, it presents an overview of the provision rates for each product type followed by regional and sub-regional variances. These are followed by an overview of the operating models used for each scheme identified. Then, the chapter concludes with graphics illustrating the unweighted provider share of partnerships across the 500 banking groups for each of accident insurance, health / hospital cash plans and medical expenses insurance. 3. Group Strategy Analysis: for each of the 500 banking groups in turn, the interactive PartnerBASE™ dataset provides an overview of their retail operations and a summary of their product and partnership strategy for accident insurance, health / hospital cash plans and medical expenses insurance including a table illustrating their involvement in these fields and a pair of bar charts depicting unweighted and weighted provider share of partnerships for the three insurance types in scope (see slide 6 as an example). © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 5 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups Output example (for UniCredit): banking group involvement in accident and health insurance plus unweighted and weighted provider share of partnerships Group overview Total assets worldwide (USD billion) 934.7 Approx. number of customers worldwide (million) 37.53 Countries researched 15 Banking operations researched 16 Captive underwriter(s) for products in scope? No JV underwriter(s) for products in scope? Yes Unweighted product provision rates Accident insurance 37.5% Health / hospital cash plans 6.3% Medical expenses insurance 31.3% Unweighted provider share of partnerships, % (UHCs) Weighted provider share of partnerships, % (UHCs) Allianz 42.9% Allianz 48.0% Munich Re 21.4% RBM Salute 17.1% UniCredit 14.3% UniCredit 17.1% CIG Pannonia Nyrt 7.1% Munich Re 15.8% Croatia osiguranje 7.1% Croatia osiguranje 1.1% RBM Salute 7.1% CIG Pannonia Nyrt <1% Source: Finaccord Global Bancassurance PartnerBASE for the World’s Top 500 Retail Banking Groups © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 6 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups What are the key features of the research? Key features of this research include: • across a total of 1,572 consumer banking units owned by the world’s top 500 retail banking groups, an overview of the provision rates for accident and health insurance segmented by sub-region, with coverage of the Asia-Pacific region, Australasia, Europe, Latin America, the Middle East and North Africa, North America and the Caribbean, and Sub-Saharan Africa; • identification of the insurance providers that hold the most partnerships with the banking groups and units in scope for each of accident insurance, health / hospital cash plans and medical expenses insurance; • for each banking group, an analysis of the providers that it uses for these three products presented in both unweighted and weighted terms, thereby illustrating not only which partners are engaged in the most initiatives with that group but which are likely to hold the most valuable relationships given the number of retail customers of the local country unit in question; • availability of an accompanying interactive PartnerBASE™ dataset that details over 1,150 distinct initiatives for accident insurance, health / hospital cash plans and medical expenses insurance and that is fully searchable and filterable, enabling provision and distribution patterns to be explored by banking brand, banking group, country and insurance type. © Finaccord, 2017 Web: www.finaccord.com. E-mail: [email protected] 7 Global Bancassurance: Product and Partnership Strategies in Accident and Health Insurance of the World’s Top 500 Retail Banking Groups How can the research be used? The report and PartnerBASE™ dataset that accompanies it can be used in one or more of the following ways: - gain access to a unique information source that will allow you to arrive at a rapid understanding of the product and partnership strategies for accident insurance, health / hospital cash plans and medical expenses insurance of 500 of the world's leading retail banking groups; - appreciate which insurance providers have been successful in establishing partnerships for accident insurance, health / hospital cash plans and medical expenses insurance with these banking groups: what is the relative position of leading underwriters such as Aflac, Allianz, AXA, BNP Paribas Cardif, Chubb, MetLife, MS&AD, Munich Re, Prudential and Zurich? - evaluate opportunities to establish bancassurance partnerships for accident insurance, health / hospital cash plans and medical expenses insurance either in a single country or across multiple territories where banking groups are active; - benefit from both the high-level conclusions contained within the report and the product-specific detail in the PartnerBASE™,