Finaccord’s new report series, Insurance Affinity Partnerships for the Platform Economy in Europe 2022, offers unprecedented insights into affinity partnership opportunities in the platform economy, letting insurers understand and compare eight key markets in Europe.
Europe’s platform economy is growing quickly and little research has been conducted on the subject to date. Though it has begun to supplant more traditional channels and existing insurance partnerships, there is plenty of scope for it to develop much further as a distribution channel: Finaccord found that the proportion of platform entities offering some form of insurance varied from a low of 24% in some countries to a high of 42% in others.
Thus there is great potential for new partnerships, representing an enormous opportunity for both traditional insurers and intermediaries as well as specialist providers and Insurtechs.
- What is the opportunity value for insurers?
Finaccord’s research shows there is an opportunity value of EUR 509 million in gross written premiums across six insurance products: property, motor, liability, income protection, accident and other.
- Which countries are covered in the report?
Finaccord has researched the platform economy (including the sharing or gig economy) in Belgium, France, Germany, Italy, the Netherlands, Scandinavia, Spain and the UK.
- Which are the biggest sharing economy platforms?
We researched 900 platforms covering six categories: property, food, mobility, work, retail and other. This gives insurers an overview of the most important players in each region.
- Which of the top ten platforms have an insurance partnership already? Who is the partner for Deliveroo in Belgium? Who is the partner for Uber in Italy?
This report series identifies partnerships between platforms and insurance providers – and therefore which platforms have no partnerships in place.
In country X, Wimdu represents a third of the insurance opportunity among property platforms, followed by Airbnb and Casamundo
- Who should read this report?
Distribution and product managers at both traditional and innovative insurance providers can learn about this emerging channel, and act upon the detailed lists of platforms
For further information about this research, please access the table of contents and series prospectus using the relevant links on this page.