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Affinity and Partnership Marketing in Life Insurance and Retirement Products in the USA

Affinity and Partnership Marketing in Life Insurance and Retirement Products in the USA represents the most detailed research available about this sector. Drawing on the results of a survey of 1,930 organizations, the report analyses the penetration, operating models and provider share of relationships of affinity and partnership marketing schemes for life insurance and retirement products across a range of distributor categories as follows:
  • not-for-profit affinity partners – alumni associations; automotive clubs; charities; labor unions; lifestyle organizations; professional associations; sports organizations; trade associations; and universities;
  • financial institutions - banks; credit unions; fraternal benefit societies; insurers (tied / multi-tied intermediaries); insurers (underwriters); online aggregators and brokers; and specialized lenders;
  • commercial partners - automotive associations; automotive manufacturers; coalition loyalty schemes and frequent flyer programs; internet, media and telecoms entities; real estate and property service firms; retailers; sharing economy entities; and utilities.
Moreover, the PartnerBASE™ database that accompanies the report provides the granular detail behind the analysis, detailing over 400 affinity and partnership marketing initiatives traced by Finaccord for the two product classes in scope.
 
In addition, the analysis identifies not only the providers of life insurance and retirement products with the most partnerships (overall, and within each category) but also computes 'weighted provider shares of partnerships’. These highlight the providers that are likely to hold the most valuable relationships given both the size of their partners’ customer base and the importance of the categories to which their partners belong as a distribution channel for the two products.
 
In this report, life insurance is defined as comprising five main contract types, namely term, universal and whole life policies plus disability (sometimes referred to as ‘income protection’) and long-term care insurance. Note that these policy types can include variations such as decreasing term or variable universal life insurance. However, credit life insurance (i.e. policies explicitly related to loans) is excluded.
 
Meanwhile, retirement products are defined as including annuities and IRAs (individual retirement accounts) that can be bought by individual customers. However, company pensions such as 401(k)s are out of scope.
 
For further information about this research, please access the table of contents and report prospectus by clicking on the corresponding links to the left-hand side of this page, or e-mail info@finaccord.com.

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Finaccord is also able to undertake bespoke research and consulting assignments about this and other subjects. For further information about the types of consulting that Finaccord is able to carry out, please visit our Consulting page.