Bharatbook announces a new report on " Affinity and Partnership Marketing in UK Commercial Non-Life Insurance " is an updated and expanded study of insurance partnerships in place with commercial affinity groups in the UK.
It is based on a survey of 1,320 actual and potential partners across eight categories, namely: banks, building societies and specialised lenders; lifestyle organisations; online aggregators and brokers; professional associations; sports organisations; trade associations; trade unions; and others.
The analysis of partnerships in commercial non-life insurance has been taken to an unprecedented level of depth by splitting out partnerships for five distinct insurance lines: commercial liability; commercial motor; commercial property; commercial specialised (e.g. event cancellation, legal expenses, trade credit); and professional indemnity.
The PartnerBASE™ database that accompanies the report details more than 1,200 externally organised affinity schemes for commercial non-life insurance identified by Finaccord, recording the operating models and partners used in each instance. Together, the report and database together will provide you with the definitive guide to current and future opportunities in affinity and partnership marketing of commercial non-life insurance in the UK.
Key findings from the executive summary include:
- more than 40% of all partner organisations in this study have arranged some form of commercial insurance to their members with a maximum rate of provision of 82.5% in the case of commercial liability cover set up by sports organisations;
- across all organisations, commercial liability is the type of insurance most likely to be offered, with a provision rate of 31.7%, followed by commercial property (25.1%), commercial specialised (16.9%), professional indemnity (16.7%) and commercial motor (11.5%);
- where commercial affinity schemes are in place, the average is for between two and three of these types of cover to be available;
- most commercial affinity schemes are organised through a broker with over 200 mentioned in conjunction with at least one initiative – in contrast, where final underwriters were identifiable, over 60 are involved in at least one program.
Finaccord's survey of 1,320 actual and potential partner organisations in the UK was carried out between October and December 2012.
Banks, building societies and specialised lenders
Online aggregators and brokers
Other commercial affinity partners
List of Graphics / Tables
0.0 EXECUTIVE SUMMARY
Affinity and partnership marketing is an important channel for distributing commercial non-life insurance
Finaccord's research covers a total of 1,320 actual and potential partner organisations
UK affinity and partnership marketing publications
UK consumer research publications
2.0 MARKET OVERVIEW
Overview of commercial non-life insurance provision through affinities and partnerships
Finaccord’s research identified 535 organisations with schemes for commercial non-life insurance...
... among which trade associations' partnerships often incorporate the widest coverage
Affinity partnerships are least likely to extend to commercial motor insurance
The vast majority of commercial affinity schemes are organised via an external broker
A total of 228 brokers are involved in at least one commercial affinity program
Towergate has the most relationships out of all intermediaries active in this channel...
... followed by RK Harrison, Bluefin and Giles Insurance Brokers
RSA has the largest share of product relationships among underwriters...
... followed by Hiscox, which held the most links for professional indemnity insurance
AXA and UK Insurance work with important distribution partners in the banking sector
Top five broker and underwriter concentration by product
For more information kindly visit : http://www.bharatbook.com/market-research-reports/insurance-market-research-report/affinity-and-partnership-marketing-in-uk-commercial-non-life-insurance.html
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Affinity Marketing in UK Commercial Non-Life Insurance