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Commercial Affinity Groups: Marketing Financial Services through UK Professional and Trade AssociationsPublished by: Finaccord Ltd. Published: Jan. 1, 2008 - 130 Pages Table of Contents
AbstractFinaccord’s report titled Commercial Affinity Groups: Marketing Financial Services through UK Professional and Trade Associations is an updated and expanded market research report investigating the opportunities for marketing banking and insurance services through professional and trade associations in the UK. The study is based on a survey of 755 UK such associations in 12 separate industry categories, ranging from highly specialised trade bodies to the Federation of Small Businesses, and analyses their current and future intended provision to members of financial services in five broad sectors, namely: business banking services; business insurance; accident and health insurance; life insurance and pensions; and personal general insurance. Moreover, the PartnerBASE™ database that accompanies the report details each of the schemes for financial services traced by Finaccord identifying the operating models and partners used in each instance. With a significant number of professional and trade associations seeking to add value for their members by organising new schemes for affinity financial services on their behalf before the end of 2008, this channel seems likely to continue to deliver interesting growth prospects for both banking and insurance institutions. Therefore, the report and database together will provide you with the definitive guide to current and future opportunities for marketing financial services through professional and trade associations in the UK. Key findings from the executive summary include: - while business insurance is most commonly arranged by trade associations, average take-up rates among member companies are highest, at 37.5%, for business banking services with the equivalent percentage reaching 34.1% for commercial insurance services; - ten providers were identified as having at least four exclusive relationships for business insurance with professional and trade associations, namely: Aon, Giles Insurance Brokers, Heath Lambert, Jardine Lloyd Thompson, Layton Blackham, Miles Smith, Towergate, Trafalgar Risk Management (through Parliament Hill), R. K. Harrison and T. H. March; - 140 professional and trade bodies have made an arrangement for providing accident or health insurance to members with professional associations showing the highest rate of penetration at 48.9% of entities in this sector; - 12.1% of small businesses and self-employed individuals belonging to a professional or trade association claim to have made use of a business banking service organised by their association, a percentage that rises to 16.9% in the case of business insurance.Get Full Details About This Report >> |
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