Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life Insurance of the World’s Top 500 Retail Banking Groups Global Bancassurance Product and Partnership Strategies in Commercial Non-Life Insurance of the World's Top 500 Retail Banking Groups Report Prospectus January 2018 © Finaccord, 2018 Web: www.finaccord.com. E-mail: [email protected] 1 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life 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 commercial non-life 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, 2018 Web: www.finaccord.com. E-mail: [email protected] 2 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life Insurance of the World’s Top 500 Retail Banking Groups What is the research? Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life Insurance of the World's Top 500 Retail Banking Groups is a report and PartnerBASE™ dataset that provides a detailed overview of the product and partnership strategies for commercial liability, motor and property insurance, plus professional indemnity, trade credit and other forms of commercial non-life insurance of 500 of the world's leading banking groups with a primary focus on serving consumers and small business customers. In total, the research investigates 1,572 country-specific retail banking units across over 100 countries since some of these groups are active in retail banking in multiple territories. For each country-specific unit, it ascertains which of these types of commercial lines cover 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 product and partnership strategies for commercial liability, motor and property insurance, plus professional indemnity, trade credit and other forms of commercial non-life insurance of each of the 500 retail banking groups. For example, it shows whether internationally- diversified groups utilise the same insurance partners for these six insurance types across multiple countries or whether they formulate their approach at a country-specific level and it demonstrates which groups are reliant wholly or mainly on captive or joint venture underwriters. Moreover, the analysis also identifies the insurance groups that have established the most partnerships with banks for each form of insurance. © Finaccord, 2018 Web: www.finaccord.com. E-mail: [email protected] 3 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life 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, 2018 Web: www.finaccord.com. E-mail: [email protected] 4 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life 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 commercial liability, motor and property insurance, plus professional indemnity, trade credit and other forms of commercial non-life 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 these six types of commercial lines cover. 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 each policy type 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 six insurance types in scope (see slide 6 as an example). © Finaccord, 2018 Web: www.finaccord.com. E-mail: [email protected] 5 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life Insurance of the World’s Top 500 Retail Banking Groups Output example (for Crédit Agricole): banking group involvement in commercial non-life insurance plus unweighted and weighted provider share of partnerships Group overview Total assets worldwide (USD billion) 1,661.3 Approx. number of customers worldwide (million) 56.44 Countries researched 15 Banking operations researched 23 Captive underwriter(s) for products in scope? Yes JV underwriter(s) for products in scope? No Unweighted product provision rates Commercial property insurance 13.0% Professional indemnity insurance 0.0% Commercial liability insurance 13.0% Trade credit insurance 4.3% Commercial motor insurance 13.0% Other commercial non-life insurance 8.7% Unweighted provider share of partnerships, % (UHCs) Weighted provider share of partnerships, % (UHCs) Crédit Agricole 58.3% Crédit Agricole 85.9% PZU 16.7% AXA 5.8% AXA 8.3% Hiscox 5.8% Hiscox 8.3% SACE 1.6% SACE 8.3% PZU <1% Source: Finaccord Global Bancassurance PartnerBASE for the World’s Top 500 Retail Banking Groups © Finaccord, 2018 Web: www.finaccord.com. E-mail: [email protected] 6 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life 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 six types of commercial non-life 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 form of commercial lines cover; • for each banking group, an analysis of the providers that it uses for these six 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 close to 1,400 distinct initiatives for commercial liability, motor and property insurance, plus professional indemnity, trade credit and other forms of commercial non-life 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, 2018 Web: www.finaccord.com. E-mail: [email protected] 7 Global Bancassurance: Product and Partnership Strategies in Commercial Non-Life 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 six types of commercial non-life insurance of 500 of the world's leading retail banking groups; - understand how provision rates for these six insurance types vary between banking units belonging to these groups located in the Asia-Pacific region, Australasia, Europe, Latin America, the Middle East and North Africa, North America and the Caribbean, and Sub-Saharan Africa; - appreciate which insurance providers have been successful in establishing partnerships for the forms of commercial lines cover in scope with these banking groups: what is the relative position of leading underwriters