Finaccord’s report titled Manufacturer-Branded and Dealer-Intermediated Motor Insurance and Road Assistance in Europe amalgamates comprehensive and in-depth research covering 20 countries in Europe, namely: Austria, Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Ireland, Italy, Norway, the Netherlands, Poland, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Turkey, the UK and Ukraine.
Based on a survey of 1,230 dealers in these countries and an investigation typically covering between 30 and 50 manufacturer brands in each territory, the study delivers unique insights into the market for packaging motor insurance and road assistance in conjunction with sales of new and used passenger cars bought by consumers through the automotive trade distribution channel.
The research also generates data from 2014 to 2018 describing the value and growth of the markets for motor insurance and road assistance captured by the automotive trade in each country in terms of both new and on-going policies.
In addition to this unique market data, the survey results measure the extent to which automotive dealers and manufacturer brands actually intermediate motor insurance in each country, to calculate average customer take-up rates at the point of sale, and to understand relationships between manufacturers or importers and external providers of motor insurance and road assistance for branded or endorsed programs.
Key findings from the executive summary include:
the market for manufacturer-branded and dealer-intermediated motor insurance and road assistance in Europe was worth in the region of EUR 9.93 billion in 2018, in terms of gross written premiums and other revenues having grown at a nominal compound annual rate of 4.8% relative to the EUR 8.24 billion estimated for 2014;
this segmented between around EUR 9.13 billion for motor insurance and EUR 800 million for road assistance, and between EUR 2.97 billion from new policies distributed during 2015 and EUR 6.96 billion from in-force policies sold in previous years;
in terms of the percentage of the total personal motor insurance market in each country accounted for by the dealer-intermediated sector, the automotive trade of Sweden achieves the highest distribution share at 33.2% in comparison to the weighted European average of 8.8%;
as for road assistance, the potential opportunity is much smaller than that in motor insurance because the average policy price is much lower, a factor that is accentuated by wholesale pricing for the product when it is included free with new cars or packaged with motor insurance, extended warranties or prepaid service contracts.
For further information about this research, please access the table of contents and series prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail [email protected]