Insurance and Assistance linked to Payment Cards and Bank Accounts in South Korea investigates the market for insurance and assistance policies linked to banking products in this country. Drawing on the results of an investigation covering over 1,000 individual payment card and bank account products offered by 20 banking institutions and specialised card providers in South Korea, the report analyses the provision of the following broad categories and types of insurance and assistance policy:
accident / health cover: accidental death insurance, health / hospital cash plans, health assistance, personal accident insurance;
creditor cover: creditor insurance – life / permanent disability, creditor insurance – temporary incapacity / unemployment;
personal / identity protection cover: ATM cash theft insurance, card protection insurance, handbag / wallet insurance, identity protection assistance, identity protection insurance;
shopping cover: extended warranty, price protection insurance, purchase protection insurance;
travel cover: travel accident insurance, travel assistance, travel health insurance, travel inconvenience insurance, travel insurance - comprehensive;
other cover: car hire insurance, home assistance, legal assistance, legal expenses insurance, missed event insurance, mobile gadget insurance, mobile phone insurance, personal liability insurance, road assistance, miscellaneous other insurance and assistance;
quantification of the market size and segmentation for insurance and assistance linked to payment cards and bank accounts: approximately how much is the market worth in South Korea, how does it break down by broad category, how much is funded by the banking institutions themselves and how much is paid for separately by customers?
analysis of the operating models used by banking organisations for insurance and assistance linked to payment cards and bank accounts: to what extent do they use external underwriters as opposed to captive or joint venture providers?
calculation of provider share of partnerships based on number of relationships and partner size: which providers of insurance and assistance services have been successful in establishing relationships for each broad category of cover with the most significant banking institutions and other card issuers or distributors?
availability of an accompanying PartnerBASE™ dataset that details the availability or otherwise of each individual insurance or assistance enhancement to more than 1,000 payment card and bank account products analysed in South Korea.
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations SE Singapore Branch.