Affinity and Partnership Marketing in UK Pet Insurance


April 1, 2010
70 Pages - SKU: FIN2664139
License type:
Table of Contents Related Reports
0.0 EXECUTIVE SUMMARY
Research background and structure
Four types of affinity partner make up two thirds of pet insurance relationships
Single partnerships are the predominant type of operating model
Agria International Försäkring has gained several relationships in the past couple of years...
... while BeatThatQuote.com is raising its profile among aggregators
Expertise in administration may be more important than price comparisons
1.0 INTRODUCTION
Rationale
The channels used to distribute financial products and services in the UK continue to proliferate
Methodology
Finaccord
UK affinity and partnership marketing publications
Other UK consumer research publications
UK small business financial services research publications
PartnerBASE™
Definitions
2.0 MARKET OVERVIEW
Affinities and partnerships in UK pet insurance
Finaccord’s research identifies over 100 affinity schemes for pet insurance
Single partners are the most common form of operating model...
... often with BDML Connect as administrator...
... and with AXA and AmTrust International as the leading underwriters
Moneysupermarket.com is the dominant aggregator for pet insurance by number of partnerships
3.0 NOT-FOR-PROFIT AFFINITY GROUPS
3.1 Charities
Introduction
Analysis of partnerships
Charities offering pet insurance divide into those with many products and animal specialists...
... with Heath Lambert serving most of the generalists
Intune may benefit from the merger of Age Concern and Help the Aged to form Age UK…
… and the company generated its first year of profits in the 12 months to March 2009
Through PetPlan, Allianz has more of the animal charity partnerships than other underwriters
3.2 Lifestyle organisations
Introduction
Analysis of partnerships
The Camping and Caravanning Club has a relationship with QBE for pet insurance only
3.3 Political parties
Introduction
3.4 Professional associations
Introduction
28 professional associations possess in excess of 30,000 individual members
Analysis of partnerships
Only two professional associations have a partnership for pet insurance...
... but will this spread to further associations through benefits packages?
3.5 Sports organisations
Introduction
Could sports organisations based around horses add pet insurance to their benefits?
3.6 Trade associations
Introduction
Analysis of partnerships
Personal lines are sometimes offered as a ‘carry over’ from commercial insurance schemes…
3.7 Trade unions
Introduction
Analysis of partnerships
UIA is the main distributor for pet insurance, and could double its partnerships with trade unions
3.8 Universities
Introduction
4.0 FINANCIAL INSTITUTIONS
4.1 Banks
Introduction
Analysis of partnerships
Most of the banks offering pet insurance have changed insurer, with AXA losing three partners
4.2 Building societies
Introduction
Analysis of partnerships
The Leeds Building Society has switched from Fortis to Allianz
4.3 Credit unions
Introduction
Analysis of partnerships
MEMBERS Financial Services does not have pet insurance in its current package
4.4 Friendly societies
Introduction
Liverpool Victoria is a manufacturer of pet insurance rather than a distribution partner
4.5 Insurance companies
Introduction
Analysis of partnerships
Four insurers source pet insurance from external partners - including Aviva
4.6 Online aggregators and brokers
Introduction
Analysis of partnerships
AmTrust International is the leading underwriting partner by a large margin
4.7 Packaged accounts and payment cards
Introduction
Pet insurance could be a way to differentiate products, especially with relevant affinity cards
4.8 Pawnbrokers, cheque cashers and providers of foreign exchange and remittance
services
Introduction
Low income customers are not likely to buy pet insurance through this channel
4.9 Specialized lenders
Introduction
The financial difficulties of this sector mean that extending its product scope is not a priority
5.0 COMMERCIAL ENTITIES
5.1 Airlines
Introduction
In theory, pet travel insurance could logically be offered by airlines
5.2 Automotive associations
Introduction
Analysis of partnerships
Pet insurance policies from these associations include cover when abroad
5.3 Automotive dealers, repair shops and supermarkets
Introduction
Analysis of partnerships
Kwik Fit has gone beyond motor insurance to offer pet policies and other forms of cover
5.4 Automotive manufacturers
Introduction
5.5 Estate agents
Introduction
The commission from pet insurance is too low to attract interest from estate agents
5.6 Football clubs
Introduction
Analysis of partnerships
Clubs’ multi-product financial services divisions have closed after a brief existence
5.7 Internet, media and telecoms entities
Introduction
Analysis of partnerships
Broadsheet newspapers offer pet insurance while the ‘red tops’ do not...
... and Talk Talk is the only telecoms company currently active in this area
5.8 Online price comparison providers
Introduction
Analysis of partnerships
Only one price comparison site has an affinity partnership as opposed to sponsored links
5.9 Retailers
Introduction
Analysis of partnerships
Most of the largest retailers offer pet insurance...
... although catalogue retailers have had a mixed experience
As a result of its affinity broking activity, BDML Connect has become a significant competitor
5.10 Travel companies
Introduction
Mass market, short-haul family holiday companies could find a niche for pet travel insurance
5.11 Utilities companies
Introduction
Could utilities act as distributors of bundled home-related services?
5.12 Other commercial entities
Introduction
Branded conglomerates
Four diverse organisations are now classified as ‘branded conglomerates’…
… with Virgin planning an ambitious expansion of its financial services activities
Saga has changed its pet insurance mandate from Aviva to Agria International
Loyalty schemes
The loyalty schemes category includes programs based around leisure, shopping and travel
AIRMILES, ipoints and Nectar have very different profiles and histories
Nectar relies on its partnership with Sainsbury’s for pet insurance
The Post Office
By June 2009, the Post Office accounted for 700,000 motor and household insurance policies
GRAPHICS / TABLES
The affinity and partnership marketing universe
Entities contacted for the research, segmented by broad category
Affinity and partnership marketing schemes for pet insurance in the UK: penetration by type of partner
Affinity and partnership marketing schemes for pet insurance in the UK: segmentation by operating model
and competitor
Charities offering pet insurance: penetration, operating models and share of partnerships
Lifestyle organisations offering pet insurance through partnerships
The top 30 professional associations in the UK ranked by member numbers, 2010 (data)
Professional associations offering pet insurance through partnerships
The top 75 trade associations in the UK ranked by member numbers, 2010 (data)
The top 75 trade associations in the UK ranked by member numbers, 2010 (data) (continued)
Trade associations offering pet insurance: penetration, operating models and share of partnerships
The top 40 trade unions in the UK ranked by member numbers, 2010 (data)
Trade unions offering pet insurance: penetration, operating models and share of partnerships
Banks offering pet insurance: penetration, operating models and share of partnerships
Building societies offering pet insurance through partnerships
The top 20 credit unions in the UK ranked by member numbers (data)
Credit unions offering pet insurance through partnerships
The top 25 friendly societies in the UK ranked by member numbers, 2008 (data)
Insurers offering pet insurance through partnerships
Online aggregators and brokers offering pet insurance: penetration, operating models and share of
partnerships
Automotive associations offering pet insurance through partnerships
Automotive dealers, repair shops and supermarkets offering pet insurance through partnerships
Football clubs offering pet insurance through partnerships
Internet, media and telecoms entities offering pet insurance: penetration, operating models and share of
partnerships
Online price comparison providers offering pet insurance through partnerships
Retailers offering pet insurance: penetration, operating models and share of partnerships
Branded conglomerates offering pet insurance through partnerships
Loyalty schemes offering pet insurance through partnerships
 
Research assistance
We can help you find what you need. Call us or write us:
US: 800.298.5699
Int'l: +1.240.747.3093
Need help in your search?
 
Related Markets

Pet Insurance Reports
 
 

Share this report


Other tasks

 
 
Join Alert Me now!
Receive bi-weekly email alerts on new market research

Sign up today!