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EUROPEAN REPORT:Non-Life Bancassurance in Europe: Accident and Health InsurancePrice £1,995
Finaccord’s report titled Non-Life Bancassurance in Europe: Accident and Health Insurance is a dedicated study of the distribution of accident and health insurance, excluding creditor insurance, by European retail banks. The research is based on a survey of 670 retail banks and other lending institutions serving consumers and 370 banks focused on business customers in ten territories in Europe: Austria, Belgium, France, Germany, Italy, the Netherlands, the Nordic region (comprising Denmark, Norway and Sweden), Portugal, Spain and the UK / Republic of Ireland. By means of this investigation, the report sheds unprecedented light on the extent of involvement of banks across Europe in the distribution of both individual and group accident and health insurance policies. Types of insurance defined within this category vary according to the local market although typically include accidental death insurance, dental expenses insurance, health / hospital cash plans, personal accident insurance, private medical insurance and work incapacity insurance. In spite of the fact that both individual and group accident and health insurance policies are included within the standard non-life bancassurance portfolio of many banks in Europe this is the first time that a detailed study has ever been published on the subject in a combined market for accident and health insurance estimated to be worth around €87.9 billion in gross written premiums in 2005 across the territories covered by the research. Furthermore, a variety of factors are combining to produce a more propitious environment in which banks and other lending institutions serving consumers can market accident and health insurance. Rapid growth in retail lending markets throws up opportunities for bancassurers to cross-sell different types of accident and health insurance instead of or in addition to mainstream creditor or payment protection insurance. In addition, cutbacks in state welfare provision should result in strong underlying development of private sector accident and health insurance markets. In addition, the PartnerBASE™ database which accompanies the publication offers a thorough means of researching current practice in bank-oriented distribution of accident and health insurance on a bank-by-bank, country-by-country or product-by-product basis. As such, this report and the associated PartnerBASE™ database constitute the most detailed research into the strategy of banks in accident and health insurance that has ever been completed on a published basis at the pan-European level. |
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© 2007 Finaccord Ltd.
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