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Affinity and Partnership Marketing in UK Travel and Pet Insurance

Description:    Finaccord's report titled Affinity and Partnership Marketing in UK Travel and Pet Insurance
                represents the most detailed research ever undertaken on this sector and is one of seven studies in
                a new series of publications. Drawing on the results of a survey of 2,500 organisations, the report
                analyses the penetration, operating models and partner market shares of affinity and partnership
                marketing schemes for travel and pet insurance across a range of distributor categories. These
                include airlines, banks, building societies, charities, friendly societies, Internet, media and telecoms
                entities, on-line aggregators and brokers, professional associations, retailers, travel companies and
                trade unions. Moreover, the PartnerBASE™ database that accompanies the report provides the
                granular detail behind the analysis, detailing each of the more than 700 affinity and partnership
                marketing initiatives traced by Finaccord in this sector.

                You may be able to use this report and associated PartnerBASE™ database in one or more of the
                following ways:

                - drill down into the detail lying behind affinity and partnership marketing schemes for travel and
                pet insurance in the UK;
                - gain access to research that chronicles the vast majority of affinity marketing opportunities in
                travel and pet insurance;
                - benchmark the competitive position of your own organisation in affinity and partnership
                marketing of travel and pet insurance and spot opportunities for displacing rivals;
                - gain a wider perspective from learning about recent innovations in partnership marketing of
                insurance in continental Europe and Ireland;
                - plan your future affinity and partnership marketing strategy for travel and pet insurance armed
                with the best market and competitor intelligence available on this subject.

                Together, the report and PartnerBASE™ database will provide you with the definitive guide to
                current and potential affinity and partnership marketing opportunities in UK travel and pet

Contents:       0.0 EXECUTIVE SUMMARY
                Research background and structure
                Over a third of organisations surveyed in 15 sub-categories offer travel insurance
                … with progs. splitting more or less evenly between arrangements with brokers and underwriters
                In terms of its outright number of exclusive partnerships, AXA Insurance is the market leader
                … with the same provider emerging as a significant force in the affinity market for pet insurance
                Affinity schemes with strong on-line characteristics will be those that are best-placed to prosper
                … and there is scope for comparing developments in the UK with those in continental Europe

                1.0 INTRODUCTION
                UK affinity and partnership marketing publications
                Other UK consumer research publications
                The channels used to distribute financial products and services in the UK continue to proliferate
                … with on-line affinity and partnership marketing having growing rapidly in importance of late

                2.0 MARKET OVERVIEW
                Affinities and partnerships in UK travel and pet insurance
                Finaccord’s research identifies 572 current affinity schemes for promoting travel insurance
                … with most either placed directly with the final underwriter or operated by means of a broker
                Pet insurance is sold by at least a proportion of 17 sub-categories of affinity partner
… with AXA Insurance having accumulated the highest outright number of affinity relationships

3.1 Charities
Analysis of partnerships
Travel insurance sold through charities works best when there is a clear rationale
… although pure revenue generation can be an objective in its own right
Charities focused around animals or wildlife are well-suited as distributors of pet insurance
intune’s main target market is the affluent over-50 age group served by Saga
… and the company is interested in working with suppliers that fulfil a variety of criteria
intune is employing a multi-channel distribution strategy including the charity’s high street outlets
… as it seeks to reach an operating profit of £15 million per annum by 2012
3.2 Educational institutions
Analysis of partnerships
Affinity and partnership marketing through educational institutions focuses on three main areas
UMAL, a mutual insurance company, provides the main competition to ACE European Group
3.3 Professional associations
Over 50 professional associations possess in excess of 5,000 individual members
Analysis of partnerships
Through Parliament Hill, Columbus Direct is a leading provider to professional associations
… although the market fragments rapidly thereafter among a host of brokers and underwriters
Pet insurance is sometimes available as an ‘add-on’ to broader member benefits schemes
3.4 Sports organisations
Analysis of partnerships
Perkins Slade has carved out a strong position for itself in the sports organisation sector
… and promotes its Adrenaline travel insurance policy for sports-minded individuals
3.5 Trade associations
Analysis of partnerships
Personal lines are sometimes offered as a ‘carry over’ from commercial insurance schemes
… which signifies that this is a field in which relationships are dominated by insurance brokers
Affinity partnerships for pet insurance are identical to those observed for travel insurance
3.6 Trade unions
Analysis of partnerships
Fortis Insurance and Norwich Union are the major providers of travel insurance to trade unions
… although a number of unions prefer to collaborate with companies outside of the leading duo
Through UIA, Allianz Insurance lays claim to the highest number of deals for pet insurance
3.7 Other not-for-profit affinity groups
Lifestyle organisations
A number of schemes for travel and pet insurance are in evidence among lifestyle organisations..45

4.1 Banks
Analysis of partnerships
Almost a third of retail banks offer travel insurance on a stand-alone basis
… although low provision rates for pet insurance suggest that banks are weak distributors
4.2 Building societies
Analysis of partnerships
Fortis Insurance has secured three significant building society mandates for travel insurance
… although the supply structure fragments rapidly thereafter among a variety of providers
There is still little apparent appetite among building societies for intermediating pet insurance
4.3 Credit cards and premium accounts
Analysis of partnerships
A majority of premium accounts offered by banks in the UK include free travel insurance
4.4 Credit unions
Analysis of partnerships
Norwich Union accesses the credit union market as the approved supplier of CUNA Mutual
4.5 Friendly societies
Analysis of partnerships
At present, friendly societies have limited involvement in travel and pet insurance distribution
4.6 Insurance companies
Analysis of partnerships
The supply structure for deals between insurers for white-labelled travel policies is fragmented
A trio of insurers offer pet insurance sourced from external providers
4.7 On-line aggregators and brokers
Analysis of partnerships
Essential Travel / AXA Insurance and Insure & Go are the foremost protagonists
… although a clutch of other entities are also active as partners in this sector
Fortis Insurance maintains important links for pet insurance both directly and through Petwise
4.8 Specialised lenders
Analysis of partnerships
There is limited rationale for most specialised lenders to sell either travel or pet insurance

5.1 Airlines
Analysis of partnerships
Numerous insurance providers seek to embed themselves in airlines’ on-line booking systems
AIG Europe lays claim to having set up the highest number of airline travel insurance schemes
5.2 Automotive associations
Analysis of partnerships
The partnership between the csma and LV= has been in place for over 80 years
5.3 Automotive dealers, repair shops and supermarkets
Analysis of partnerships
Many automotive dealerships owe their survival to revenues derived from financial services
… although with one significant exception, travel and pet insurance do not enter the equation
5.4 Automotive manufacturers
Analysis of partnerships
Among automotive manufacturing brands, only BMW is active in marketing household insurance
The new products are designed to re-enforce customer loyalty to the BMW brand
BMW’s affinity marketing partners were selected for three main reasons
5.5 Cricket and rugby clubs
Analysis of partnerships
Cricket and rugby clubs are virtually absent from affinity marketing of travel and pet policies
… albeit both cricket and rugby attract sponsors from the financial services sector
5.6 Football clubs
Analysis of partnerships
Affinity propositions in travel insurance continue to be limited to a fairly small number of clubs
… with Endsleigh having emerged as the main protagonist by means of its links with four clubs
5.7 Internet, media and telecoms entities
Analysis of partnerships
Most organisations in this category that offer travel insurance do so through a broking solution and account for a majority of media affinities
For pet insurance, retains a traditional affinity link with Cardif Pinnacle
5.8 On-line price comparison providers
Analysis of partnerships
A number of on-line price comparison providers offer own-brand insurance searching facilities
5.9 Retailers
Analysis of partnerships
Many of the UK’s major retailing brands are being leveraged to promote travel insurance
… although other important retailers have deferred launching into this market for the time being
Greenbee will allow the John Lewis Partnership to expand its share of total client expenditure
Fit with the values of the John Lewis Partnership has been key to selection of affinity partners
AXA insurance and BDML Connect are the foremost partners used for pet insurance by retailers
5.10 Travel companies
Analysis of partnerships
Several former MyTravel brands now owned by Thomas Cook continue to use a captive insurer
There are a number of causes for the fragmented state of the supply structure to the travel ind
Over 20 providers of insurance to the travel trade possess at least three exclusive partnerships
5.11 Other commercial entities
Branded conglomerates
Saga and Virgin leverage their brands across the full consumer financial services spectrum
… with Saga having rolled out a price comparison site for motor insurance in August 2007
Loyalty schemes
The loyalty schemes category extends to a range of diverse travel and other reward programs
… with several offering members the chance points through purchase of travel or pet insurance
AIRMILES reconfigures its affinity strategy by forging a new link with Lloyds TSB1
Delivering memorable experiences continues to be key to the AIRMILES proposition
Lloyds TSB hopes to leverage the relationship across a range of financial services
AIRMILES has bolstered its range of family-oriented redemption options
… and is also in the process of rolling out a policy asserting its ‘green’ credentials
The Post Office
The Post Office is seeking to grow its total portfolio of insurance policies to two million by 2010

Events in affinity and partnership marketing in Europe, 2006 and 2007
Winter 2006
AEGON expands bancassurance reach in Spain through link with local savings bank
Fondiaria SAI firms up link with Banca Popolare di Milano for bancassurance venture
Elvia reinforces position in travel insurance sector through new distribution deals
Estonian bank diversifies into non-life bancassurance by establishing captive
AIB and Aviva finalise Irish bancassurance deal by combining life insurance firms
AXA and Adeslas co-operate for health insurance distribution in Spain
Cattolica and Banca Lombarda extend life insurance distribution tie to 2010
French banking and insurance partners pilot Séréna personal assistance platform
Spring 2006
Spanish arm of CIGNA launches health insurance through Travel Club loyalty program
Fortis and An Post confirm Irish financial services joint venture
MACIF and MNRA create affinity programs for small businesses in France
Mapfre and Caja de Madrid extend scope of co-operation to automotive finance
Proteq ties with leading Dutch pharmacy chain for affinity insurance venture
ESFG and Crédit Agricole strengthen Portuguese bancassurance ties
Aon and Delta Lloyd join forces for affinity insurance venture in the Netherlands
Summer 2006
Fondiaria and Capitalia link for non-life bancassurance joint venture in Italy
Mondial Assistance renews international assistance contract with Chrysler Jeep
Cattolica strengthens strategic bancassurance tie with BPVN in Italy
CNP launches new permanent disability and long-term care contract with ASAC-FAPES
BBVA and Sanitas combine in Spanish health insurance distribution deal
AXA seals affinity insurance tie with Bertelsmann media club in Germany
CNP extends major bancassurance deals in France through to end 2015
Winterthur and Sanitas agree tie for health insurance distribution in Switzerland
Europäische expands card-related travel insurance deals in Germany
Autumn 2006
            Aon Italia rolls out new propositions for professional affinity partner
            AXA buys major Greek bancassurance protagonist for €255 million
            French mutuals tie for retirement savings cross-selling initiative
            BBVA and Willis link for high net worth property insurance venture in Spain
            Uniqa commences bancassurance joint venture in Ukraine with Credo-Classic
            German catalogue retailer commences insurance marketing venture
            AXA replaces Talanx as SEB’s new bancassurance partner in Germany
            CNP’s life assistance arm forges tie with Chèque Domicile in France
            Santander Consumer Bank improves motor insurance offer for German car buyers
            Winter 2007
            Zurich seals new manufacturer motor insurance deal with Suzuki in Germany
            AEGON forges new bancassurance link with Banca Transilvania in Romania
            … a distribution strategy also pursued by Aviva in the same country with Finansbank
            CIGNA targets marine sports club members with health insurance proposition in Spain
            Innovative distribution deals assist Spanish insurer Mapfre at home and abroad
            French affinity broker launches new insurance policy through AOL link
            AEGON and ERGO tie for pensions cross-selling agreement in Poland
            Mapfre takes 50% stake in Spanish savings bank insurance unit
            Cattolica finalises bancassurance agreement with Banca Popolare di Vicenza
            Mondial Assistance establishes distribution agreement with Sanyres in Spain
            VIVAS Health secures distribution link with Hibernian Direct in Ireland
            Tie with statutory health insurer in Germany pays dividends for HUK Coburg
            Caisses d’Épargne and MACIF roll out individual health insurance contracts in France
            Generali acquires bancassurance companies in Austria from BAWAG PSK
            Spring 2007
            ADAC and Zurich disclose launch joint venture insurance company in Germany
            Mapfre seals major bancassurance deals with Bankinter and BBVA in Spain
            Folksam and Swedbank initiate new bancassurance collaboration in Sweden
            AXA acquires stakes in Monte dei Paschi di Siena bancassurance firms
            Allianz links with Ferrari for car insurance policies in Germany
            Groupe Caisse d’Épargne and HSBC assume control of French bancassurance firms
            AIB kicks off on-line motor insurance venture with Hibernian in Ireland
            Fondiaria SAI forges Italian bancassurance joint venture with Banca Italease
            Summer 2007
            Generali and leading fuel retailer link for affinity tie in German insurance
            Aviva rolls out a trio of new bancassurance deals in Italy, Poland and Spain
            AEGON and Mapfre finalise bancassurance agreements with Spanish savings banks
            Vienna Insurance Group links with OMV in ten countries in Central Europe
            La Caixa buys 50% stake held by Fortis in long-standing Spanish joint venture
            Deutsche Postbank and Talanx extend German bancassurance link for 15 years
            ACE European Group sets up life company for continental affinity insurance initiatives
            National Suisse and Coop Bank agree insurance co-marketing initiative
            Sogecap commences bancassurance operations in Bulgaria and Greece
            Groupama initiates link with integrated Internet and telecoms provider in France
            Intesa Sanpaolo rolls out new approach to bancassurance in domestic market
            Citroën entrusts own-brand road assistance service to Mondial Assistance
            ING takes control of Greek bancassurance joint venture as a part of ten year deal
            Royal & SunAlliance targets Eastern Europe and Russia through GDII joint venture
            Crédit Agricole buys 60% stake in non-life bancassurance entity from AGF
            Generali and PPF Group commence joint venture deal in Central and Eastern Europe.
            Banco Popolare and Fondiaria SAI finalise new bancassurance joint venture in Italy
            Autumn 2007
            Zurich links with TomTom for Europe-wide motor insurance distribution venture
            Mondial Assistance secures international travel insurance ties with Eurostar and KLM
            Genertel signs affinity insurance agreement with low-cost airline in Italy
            Groupama forges joint venture with software house for co-marketing in France and abroad
            If P&C plans tie with Finnish retailer’s loyalty program from June 2008 onwards
            Allianz Suisse initiates manufacturer-branded insurance co-operation with Volkswagen
            Deutsche Postbank secures non-life bancassurance partner. agreement with HUK-Coburg

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