AFFINITY INSURANCE AUTUMN 2016 BANCASSURANCE Global Affinity AFFINITY BANKING Finance Club Finaccord’s newsletter about affinity financial services worldwide Welcome back to your Club! In addition to two major new bancassurance deals in Europe, namely those of Allianz with HypoVereinsbank in Germany (scheduled to replace the bank’s existing arrangement with ERGO from the start of 2018) and of Matmut with BNP Paribas in France, the autumn also witnessed a slew of initiatives in the automotive sector that reflect the changing mobility habits of customers world- wide when it comes to both buying and using vehicles. New relationships with established automotive competitors included those of Amaguiz (a subsidiary of Groupama) with DIAC (the France-based vehicle finance arm of Renault) for telematics-enabled motor insurance, Europ Assistance with the Portuguese arm of Ar- val plus the RAC and VHD for road assistance, HDFC Bank with Suzuki for ’two-wheeler’ finance, and UK General with Motorplus for various automotive insurance, warranty and assistance products. Meanwhile, those involving emerging partner organisations in this field were those of Europ Assistance with the Italian branch of car club DriveNow for road assistance, HDFC ERGO with online mo- tor insurance platform RenewBuy in India, MasterCard with interna- tional minicab app Uber in Sri Lanka, Mercedes-Benz Financial Ser- vices with online vehicle finance specialist AutoGravity in the US, Toyota Financial Services with peer-to-peer car sharing firm Ge- taround in the US and Uber in India, Visa with taxi service firm TABcab (also in India), and Wirecard with ADAC’s Europe Net for prepaid cards for fleet vehicle drivers and managers in Germany. 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 international private medical in- PRODUCT WARRANTIES / surance in Africa 6 INSURANCE 8 ASSISTANCE 5 Allianz Worldwide Care offers in- Asurion secures mobile device Mondial Assistance works with ternational private medical insur- insurance partnership with KPN Société Générale Insurance for ance to Steamship Mutual crew in the Netherlands… 8 health-related assistance app 5 members 6 … and appliance protection pro- AXA Assistance pioneers digital Legal & General links with Ae- gram with US department store assistance concept in Italy… 5 gon for individual annuities 7 chain 8 … and wins home assistance man- CNP Assurances creates funeral Assurant teams up with GamaSec date with esure Group in the UK 5 policy in collaboration with ATD for cyber cover for small and me- Quart Monde 7 dium-sized enterprises 9 Europ Assistance collaborates with RAC and VHD to expand road NN Life and Sumitomo Life em- Opel co-operates with CarGaran- assistance network… 5 bark on group life partnership 7 tie for extended warranties in the Netherlands… 9 … and with Arval in Portugal and MOTOR INSURANCE 7 DriveNow in Italy, also for road … and BNP Paribas Cardif with assistance… 5 DIAC combines with Groupama Santander Consumer Bank for subsidiary for telematics-enabled the same product in Germany 9 … and with Carrefour for home insurance in France 7 assistance services in Italy 5 VW group works with Europ As- HDFC ERGO launches motor sistance for approved used car Hitachi Capital Vehicle Solutions cycle and scooter insurance extended warranties in Portugal 9 employs RAC for telematics- through online motor insurance enabled driving service 6 platform 7 TRAVEL INSURANCE 9 COMMERCIAL INSURANCE NICHE INSURANCE 8 ERV commences multi-country 6 travel insurance partnership with UK General wins mandates with TravelBird… 9 MAPFRE offers commercial risk Motorplus and British Cycling mapping tool to members of (via Thistle Insurance Services) 8 …and unveils card-linked travel Spanish trade federation… 6 insurance deals in Sweden and Groupama Assicurazioni pro- Ukraine 10 … and ties with association of motes dog insurance through so- ‘gastro-tourism’ enterprises for a cial network for canine enthusi- Allianz earns ticket cancellation similar purpose 6 asts 8 insurance partnership with DeNA Travel in Japan 10 LIFE AND HEALTH INSUR- Generali Global Assistance links ANCE 6 with third-party benefits adminis- Europ Assistance renews insurance trator for identity protection con- relationship with Emma Villas 10 Cigna combines with Hollard for cept 8 www.finaccord.com 2 Global Affinity Finance Club GENERAL 10 The Co-operators secures insur- MBNA UK credit card portfolio ance partnership with First from Bank of America 13 AXA seals marketing deal with Credit Union 12 Spanish football club 10 Visa unveils multi-year partnership Affinity Banking for airline co-branded cards 13 iA Financial Group broadens automotive dealer distribution AFFINITY LOANS 12 Air Europa chooses Bankinter network with acquisition of Consumer Finance for new co- Groupe PPP 10 Westpac allies with micro-finance branded card launch 14 specialist to help refugees start Bancassurance new business activities 12 Air Canada and CIBC link for launch of prepaid multi-currency HOUSEHOLD INSURANCE AUTOMOTIVE FINANCE 12 card 14 10 Toyota Financial Services estab- Synchrony Financial works with ING rolls out home insurance lishes partnership with Ge- online travel brands for co- for Australian mortgage borrow- taround in the US… 12 branded card programs 14 ers with Auto & General 10 … and trials scheme with Uber Wirecard launches prepaid card LIFE INSURANCE AND RE- in India 12 for fleets with ADAC subsidiary TIREMENT SAVINGS 11 14 Suzuki links with HDFC Bank Manulife establishes 15-year dis- and Paytm for innovative ‘two- CONSUMER FINANCE 14 tribution partnership with Stan- wheeler’ finance scheme 12 dard Chartered in Hong Kong 11 Synchrony Financial’s healthcare FCA Bank acquires majority finance arm earns seven-year re- Barclays completes sale of risk stake in Ferrari’s financial ser- lationship with ADA 14 life insurance book in Spain to vices arm 12 VidaCaixa 11 Crédit Agricole Consumer Fi- Mercedes-Benz Financial Ser- nance designs personal loans GENERAL 11 vices makes vehicle finance avail- backed by employee savings able via AutoGravity 13 plans 15 Allianz displaces ERGO as Hy- poVereinsbank’s bancassurance Synchrony Financial sets up two COMMERCIAL BANKING 15 partner 11 finance schemes for power sports products 13 American Express consolidates BNP Paribas and Matmut com- partnership with owner of Quick- bine for non-life insurance joint Targobank co-operates for Books accounting software 15 venture in France 11 online finance with distributor of vehicle accessories 13 Bankinter and Avalmadrid com- Danske Bank rolls out new insur- bine to increase funding to Ma- ance products with Moderna CO-BRANDED CARDS 13 drid-based SMEs 15 Försäkringar 11 Lloyds Banking Group acquires www.finaccord.com 3 Global Affinity Finance Club Table of contents INTERNATIONAL PAY- 18 Alliance Data renews private- MENTS / REMITTANCES 15 label card programs with J. Jill … and with multiple partners to and Restoration Hardware 20 Western Union provides mobile develop unified mobile payment money transfer capabilities to UK app 18 GENERAL 20 -based Viber users 15 Wirecard forges mobile payment Belfius teams up with Bpost and HomeSend discloses ties with agreement with VocaLink in the Proximus for multi-function app Ericsson and Sri Lankan bank for UK… 18 in Belgium 20 mobile remittances 15 … and ties with ERGO for im- Finaccord country reports MOBILE / ONLINE PAY- pulse travel insurance purchases MENTS 16 in Austria 18 Finaccord publishes a variety of reports about the following coun- MasterCard works with Google to Wirecard allies with Conferma tries: Australia; Austria; Belgium; boost usage of Android Pay and for virtual multi-currency pay- Brazil; Canada; Chile; China; Co- MasterPass… 16 ment card in the Asia-Pacific re- lombia; France; Germany; India; gion 18 Indonesia; Italy; Japan; Malaysia; … and with multiple other partners Mexico; Netherlands; Peru; Po- to expand MasterPass on a global Alibaba subsidiaries earn strategic land; Romania; Russia; South Af- basis 16 partnerships for digital payments rica; Spain; Switzerland; Turkey; 18 the UK; and the US. MasterCard works with banks in Russia and Spain to extend reach of PAYMENT CARD ISSUANCE Alternatively, to see our full list Apple Pay… 16 AND ACCEPTANCE 19 of reports organised by country, with more than 60 countries cov- … and for other initiatives with a JCB continues expanding interna- ered in total, please visit the variety of organisations, including tionally through several major search-by-country page of our Uber and FitPay 17 new partnerships 19 website at www.finaccord.com/ search-by-country.htm. Visa expands utilisation of online UnionPay links with Westpac to payment service in Brazil… 17 increase acceptance in Western Australia 19 … and promotes Android Pay in Ireland and Poland 17 RETAILER CARDS AND FI- NANCE 19 Visa rolls out mobile payment app with Ecobank in Africa and Synchrony Financial broadens TABcab taxi service in Mumbai portfolio of retailer consumer 17 finance programs 19 BNP Paribas links with Alipay to Capital One acquires the captive facilitate use of mobile payment payment card business of Ca- app at partner stores in France… bela’s 20 www.finaccord.com 4 Global Affinity Finance Club Affinity Insurance Affinity Insurance News rolled out a service that allows the provision of international users to receive remote technical road assistance services to auto- ASSISTANCE assistance