Affinity and Partnership Marketing in Life Insurance and Pensions in Germany
Finaccord Ltd.
January 1, 2009 110 Pages - SKU: FIN2106623
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Countries covered: Germany
Finaccord's report titled Affinity and Partnership Marketing in Life Insurance and Pensions in Germany represents the most detailed research ever undertaken on this sector and is one of five studies in a new series of publications. Drawing on the results of a survey of over 1,900 organisations, the report analyses the penetration, operating models and partner market shares of affinity and partnership marketing schemes for life insurance and pensions across a range of distributor categories. These include banks, charities, co-operative banks, loyalty schemes, online aggregators and brokers, private banks, professional associations, retailers, savings and public sector banks, trade associations and trade unions.
Moreover, the PartnerBASE database that accompanies the report provides the granular detail behind the analysis, detailing each of over 750 affinity and partnership marketing initiatives traced by Finaccord in this sector. In the context of this report, life insurance embraces all types of policy usually encompassed by the definition (covering both investment life insurance and protection life insurance) but excludes creditor or payment protection insurance. Moreover, in addition to consideration of both private pension insurance and supplementary pension insurance, the study also identifies and analyses partnerships for long-term care insurance and funeral expenses insurance.
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 life insurance and pensions in Germany; - gain access to research that chronicles the vast majority of affinity marketing opportunities in life insurance and pensions; - benchmark the competitive position of your own organisation in affinity and partnership marketing of life insurance and pensions and spot opportunities for displacing rivals; - gain a wider perspective from learning about recent innovations in partnership marketing of life insurance and pensions elsewhere in Europe; - plan your future affinity and partnership marketing strategy for life insurance and pensions 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 life insurance and pensions in Germany.
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- 0.0 EXECUTIVE SUMMARY
- Research background and structure
- Several different types of insurance are covered within the category of life insurance and pensions . 2
- Direct relationships with insurance companies represent the preferred model for life insurance...
- … with Allianz and R+V possessing the highest outright number of exclusive partnerships
- Numerous providers compete for distribution mandates for retirement savings products
- Restructuring of the German banking sector will have a fundamental impact on future opportunities ..
- Distribution developments in Europe may provide useful indicators for future directions in Germany
- itself
- 1.0 INTRODUCTION
- Rationale
- The channels used to sell financial products and services in Germany are proliferating…
- … with online affinity and partnership marketing having growing rapidly in importance of late
- Finaccord
- Affinity and partnership marketing publications for Germany
- Consumer research publications for Germany
- PartnerBASE™
- Definitions
- Methodology
- 2.0 MARKET OVERVIEW
- Affinities and partnerships in life insurance and pensions
- Distribution relationships for life insurance are most heavily concentrated in the banking sector... ... 13
- … with most schemes organised directly with underwriters rather than through brokers
- Affinity programs for private pension insurance are slightly fewer than those for life insurance
- Supplementary pension insurance follows a similar pattern to private pension insurance...
- ... albeit the duo of R+V and Union Investment accounts for a higher share of partnerships
- Long-term care insurance offers a smaller opportunity for partnership marketing...
- ... although several underwriters have cultivated relationships in this field
- Several trade unions are enthusiastic distributors of funeral expenses insurance
- AXA’s DBV Winterthur is the most prolific provider to partner organisations in this field
- 3.0 NOT-FOR-PROFIT AFFINITY GROUPS
- 3.1 Automotive clubs
- Introduction
- 3.2 Charities
- Introduction
- Analysis of partnerships
- The THW Bundesvereinigung possesses an obvious rationale for offering life insurance
- One charity has also established a partnership for long-term care insurance
- Funeral expenses insurance is a notable niche market for charities
- 3.3 Educational institutions
- Introduction
- 3.4 Professional associations
- Introduction
- Analysis of partnerships
- Most professional associations offering life insurance work directly with an underwriter
- Deutsche Ärzteversicherung has several partnerships among professional associations
- A significant number of brokers maintain relationships with professional associations
- Fewer professional associations offer private pension insurance to their members...
- ... although participation rates for supplementary pension insurance are more significant
- The schemes of three professional associations extend to long-term care insurance
- Several professional associations may launch affinity products in these areas in future
- 3.5 Sports organisations
- Introduction
- Analysis of partnerships
- A handful of sports organisations have developed affinity propositions for their members
- 3.6 Trade associations
- Introduction
- Analysis of partnerships
- Almost one in ten trade associations offer life insurance to their members
- Signal Iduna and HDI Gerling each possess several partnerships with trade associations
- Only two brokers hold more than one link for life insurance in the trade association sector
- Private pension insurance is also quite widely offered to members by trade associations...
- ... with the same observation applying to supplementary pension insurance
- However, very few trade associations have organised long-term care insurance...
- ... and even fewer still have any involvement in the distribution of funeral expenses insurance
- 3.7 Trade unions
- Introduction
- Analysis of partnerships
- Volksfürsorge has three exclusive partnerships for life insurance with trade unions
- There is little or no rationale for most trade unions to offer private pension insurance...
- Funeral expenses insurance is a very interesting niche product for trade unions
- 3.8 Lifestyle organisations
- Introduction
- Analysis of partnerships
- 4.0 FINANCIAL INSTITUTIONS
- 4.1 Banks
- Introduction
- Analysis of partnerships
- Banks adhere to a variety of bancassurance models for the provision of life insurance...
- ... although banking sector consolidation is likely to bring about important changes
- Some partnerships for private pension insurance differ from those for life insurance...
- ... an observation which also applies in the case of supplementary pension insurance
- Long-term care insurance and funeral expenses insurance are much less widely offered
- 4.2 Savings and public sector banks
- Introduction
- Analysis of partnerships
- Most savings and public sector banks are active as distributors of life insurance...
- ... with partnerships being determined mainly by geographical location
- Some variations in the partners used are visible for retirement savings products...
- ...with other differences apparent in the case of long-term care insurance
- 4.3 Co-operative banks
- Introduction
- Analysis of partnerships
- Several co-operative banks intermediate life insurance through captive brokerage units
- GLS Bank collaborates with oeco capital Leben for eco-friendly life insurance
- For private pension insurance, some co-operative banks use private sector insurers
- Union Investment is the most prolific partner for supplementary pension insurance
- Long-term care insurance and funeral expenses insurance are less frequently promoted
- 4.4 Private banks
- Introduction
- Analysis of partnerships
- Allianz possesses distribution partnerships with four private banks for life insurance...
- ... and also emerges as the most commonly used partner for private pension insurance
- Few private banks sell either long-term care insurance or funeral expenses insurance
- 4.5 Insurance companies
- Introduction
- Analysis of partnerships
- Mannheimer distributes private pension insurance sourced from Die Continentale
- Delta Lloyd utilises an external partner for supplementary pension insurance
- For long-term care insurance, DKV possesses at least two major partnerships
- 4.6 Online aggregators and brokers
- Introduction
- Analysis of partnerships
- Specialised providers are emerging in the market for online broking of life insurance
- Some online brokers utilise a single, external insurance company for other products
- 5.0 COMMERCIAL ENTITIES
- 5.1 Airlines
- Introduction
- Analysis of partnerships
- 5.2 Automotive associations
- Introduction
- Analysis of partnerships
- Automobil-Club Verkehr and Verkehrsclub Deutschland are active as affinity distributors
- 5.3 Automotive dealership groups
- Introduction
- Analysis of partnerships
- Life insurance is offered by a number of the automotive dealer groups surveyed
- 5.4 Automotive manufacturers
- Introduction
- 5.5 Estate agents
- Introduction
- 5.6 Football clubs
- Introduction
- German clubs remain reluctant to launch affinity deals in the area of life insurance and pensions ... 89
- 5.7 Internet, media and telecoms entities
- Introduction
- Analysis of partnerships
- Most media partnerships for life insurance lie with online brokers rather than underwriters
- einsurance and Aspect Online are the leading providers of life insurance
- Similar arrangements exist for private pension insurance and supplementary pension insurance
- 5.8 Online price comparison providers
- Introduction
- Analysis of partnerships
- Only three providers have established searching facilities for life insurance under their own brand
- preisvergleich makes supplementary pension insurance and long-term care insurance available
- 5.9 Retailers
- Introduction
- Analysis of partnerships
- A number of Germany’s major retailing brands are being leveraged to promote life insurance...
- ... and most are also active in private pension insurance and supplementary pension insurance
- Otto has opened a special hotline for inquiries about its supplementary health insurance
- Long-term care insurance and funeral expenses insurance are less frequently offered
- Under the C&A Money brand, C&A hopes to continue launching new products
- EDEKA Bank appears to be growing in excess of the average for Germany
- The brands of Karstadt and Quelle are being leveraged with success in financial services
- 5.10 Travel companies
- Introduction
- 5.11 Utilities companies
- Introduction
- 5.12 Other commercial entities
- Introduction
- Analysis of partnerships
- Deutsche Post: Postbank sold its stake in PB Versicherung to Talanx in 2007
- Loyalty schemes: life insurance and pensions seem to have produced mixed results
- American Express: active as a distributor of several types of policy
- 6.0 EUROPEAN INNOVATIONS
- Introduction
- Key events in affinity and partnership marketing in Europe, 2006-8
- Life insurance and pensions
- Outside of the UK, new initiatives are mostly limited to the bancassurance sector…
- … with two main types of deal occurring between banks and insurance providers
- GRAPHICS / TABLES
- The affinity and partnership marketing universe
- Entities contacted for the research, segmented by broad category
- Affinity and partnership marketing schemes for life insurance in Germany: penetration by type of partner
- Affinity and partnership marketing schemes for life insurance in Germany: segmentation by operating model and competitor
- Affinity and partnership marketing schemes for private pension insurance in Germany: penetration by type of partner
- Affinity and partnership marketing schemes for private pension insurance in Germany: segmentation by operating model and competitor
- Affinity and partnership marketing schemes for supplementary pension insurance in Germany: penetration by type of partner
- Affinity and partnership marketing schemes for supplementary pension insurance in Germany: segmentation by operating model and competitor
- Affinity and partnership marketing schemes for long-term care insurance in Germany: penetration by type of partner
- Affinity and partnership marketing schemes for long-term care insurance in Germany: segmentation by operating model and competitor
- Affinity and partnership marketing schemes for funeral expenses insurance in Germany: penetration by type of partner
- Affinity and partnership marketing schemes for funeral expenses insurance in Germany: segmentation by operating model and competitor
- Charities offering life insurance, long-term care insurance and / or funeral expenses insurance through partnerships
- Ranking of top 100 professional associations in Germany by approximate number of members
- Ranking of top 100 professional associations in Germany by approximate number of members (continued)
- Professional associations offering life insurance: penetration, operating models and partner market shares
- Professional associations offering private pension insurance: penetration, operating models and partner market shares
- Professional associations offering supplementary pension insurance: penetration, operating models and partner market shares
- Professional associations offering long-term care insurance through partnerships
- Sports organisations offering life insurance and / or supplementary pension insurance through partnerships
- Ranking of top 100 trade associations in Germany by approximate number of members
- Ranking of top 100 trade associations in Germany by approximate number of members (continued)
- Trade associations offering life insurance: penetration, operating models and partner market shares
- Trade associations offering private pension insurance: penetration, operating models and partner market shares
- Trade associations offering supplementary pension insurance: penetration, operating models and partner market shares
- Trade associations offering long-term care insurance and / or funeral expenses insurance through partnerships
- Trade unions offering life insurance: penetration, operating models and partner market shares
- Trade unions offering private pension insurance and / or supplementary pension insurance through partnerships
- Trade unions offering funeral expenses insurance: penetration, operating models and partner market shares
- Banks offering life insurance: penetration, operating models and partner market shares
- Banks offering long-term care insurance and / or funeral expenses insurance through partnerships
- Savings and public sector banks offering life insurance: penetration, operating models and partner market shares
- Savings and public sector banks offering long-term care insurance and / or funeral expenses insurance through partnerships
- Co-operative banks offering life insurance: penetration, operating models and partner market shares
- Co-operative banks offering private pension insurance: penetration, operating models and partner market shares
- Co-operative banks offering supplementary pension insurance: penetration, operating models and partner market shares
- Co-operative banks offering long-term care insurance and / or funeral expenses insurance through partnerships
- Private banks offering life insurance: penetration, operating models and partner market shares
- Private banks offering private pension insurance: penetration, operating models and partner market shares
- Private banks offering long-term care insurance and / or funeral expenses insurance through partnerships
- Online aggregators and brokers offering life insurance: penetration, operating models and partner market shares
- Online aggregators and brokers offering private pension insurance: penetration, operating models and partner market shares
- Automotive associations offering life insurance, private pension insurance and / or supplementary pension insurance through partnerships
- Automotive dealers offering life insurance through partnerships
- Internet, media and telecoms entities offering life insurance: penetration, operating models and partner market shares
- Online price comparison providers offering life insurance and / or private pension insurance through partnerships
- Retailers offering life insurance: penetration, operating models and partner market shares
- Retailers offering private pension insurance: penetration, operating models and partner market shares
- Other commercial entities offering life insurance, private pension insurance, supplementary pension insurance,
- long-term care insurance and / or funeral expenses insurance through partnerships
- Key events in affinity and partnership marketing in life insurance and pensions in Europe, 2006
- Key events in affinity and partnership marketing in life insurance and pensions in Europe, 2007
- Key events in affinity and partnership marketing in life insurance and pensions in Europe, 2008
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