Series prospectus travel_insurance_assistance_europe

Travel Insurance and Assistance in Europe

© Finaccord Ltd., 2012

Expertise in financial services Web: www.finaccord.com. E-mail: [email protected] 1

Travel Insurance and

Assistance in Europe Series prospectus for 20 country-specific reports

AUSTRIA, BELGIUM, CZECH REPUBLIC, DENMARK, FINLAND, FRANCE,

GERMANY, IRELAND, ITALY, NETHERLANDS, NORWAY, POLAND, PORTUGAL,

ROMANIA, RUSSIA, SPAIN, SWEDEN, SWITZERLAND, TURKEY, UK

July 2012

http://www.finaccord.com/

mailto:[email protected]




Prospectus contents

Page

What is the research?

What methodology has been used?

How do organisations surveyed break down?

What is the structure of the reports?

What are the key features of the research?

How can the research be used?

How can the PartnerBASE™ be used?

What do the market data annexes deliver?

Who can use the research?

What are some of the key findings?

What are the costs and formats?

How can the research be purchased?

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What is the research?

Finaccord’s country-focused reports about travel insurance and assistance in Europe investigate

the market for stand-alone travel insurance and assistance in 20 European countries: Austria,

Belgium, the Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands,

Norway, Poland, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Turkey and the UK.

Across all 20 countries combined, this market is estimated by Finaccord to be worth EUR 3.35

billion in gross written premiums in 2012 and its value has proved to be fairly resilient in many

territories in spite of a challenging economic environment.

For the research, Finaccord investigated the distribution partnerships of over 2,750 travel trade,

transportation and financial organisations across the 20 countries; it also analysed systematically

the involvement in travel insurance in each country of other key distributor categories, namely

automotive clubs, direct sales, online aggregators and brokers, other online brands, and retailers.

The reports, which represent an update and expansion to previous Finaccord studies on the subject

issued since 2003, are accompanied by Excel PartnerBASE™ datasets that detail the travel

insurance partnerships of each of the travel trade, transportation and financial organisations

covered, plus convenient market data annexes, also in Excel format.






What methodology has been used?

Finaccord’s investigation into travel insurance and assistance markets in Europe draw on several

sources. First, Finaccord analysed the size, segmentation and dynamics of the underlying travel

market, developing standardised data for the number of overseas trips in each of the 20 countries

between 2008 and 2012, split between holiday and business travel.

The reports also include top level findings from a separate survey carried out during the first quarter of

2012 focused on the provision of travel insurance and assistance packaged with payment cards and

bank accounts by over 800 banks and other card issuers in Europe.

However, the largest element was the extensive survey of the most important travel trade,

transportation and financial organisations in each country. These were investigated during the second

quarter of 2012 to find out: if they distribute travel insurance and assistance policies; if so, what

operating model is used (e.g. external underwriter, external broker, captive underwriter etc.); and if so,

who their insurance partner(s) is / are.

These companies include airlines, banks, ferry / railway operators, online travel specialists and

specialised card providers, as well as mainstream travel agents and tour operators, thereby offering

comprehensive coverage of these major distribution categories.






How do organisations surveyed break down?

Segmentation by type of firm Segmentation by geography

Austria, 66 Belgium, 87Czech Republic,

79Denmark, 78

Finland, 66

France, 166

Germany, 358

Ireland, 51

Italy, 225

Netherlands, 91Norway, 88Poland, 137

Portugal, 76Romania, 65

Russia, 214

Spain, 188

Sweden, 133

Switzerland, 98

Turkey, 128

UK, 368

Travel agents / tour operators,

1,273

Online travel specialists, 332

Airlines, 138

Ferry operators, 65

Railway operators, 34

Banking organisations,

777

Specialised card providers, 183






What is the structure of the reports?

0. Executive Summary: providing a concise evaluation of the principal findings of the report.

1. Introduction: offering rationale, description of methodology and some definitions.

2. Market Analysis: an in-depth study of the market for travel insurance and assistance in each

country which includes the following information: data spanning 2008 to 2012 for the underlying

travel market with segmentations by destination (between EU countries, non-EU European

countries, North America and the rest of the world) and by type of journey (between holiday and

business trips); data for the size of the market for stand-alone travel insurance and assistance in

terms of premiums and policies, also from 2008 to 2012, with a segmentation between single-trip

and annual cover; analyses of the share of distribution relationships of travel insurance providers

split between travel trade, transportation and financial organisations; a review of other direct and

affinity distribution channels, including cover packaged with payment cards and bank accounts as

well as automotive clubs, direct sales, online aggregators and brokers, other online brands and

retailers; and forecasts to 2016 for both the underlying travel market and for the size of the market

for stand-alone travel insurance and assistance in terms of premiums and policies, with the same

segmentations as those specified above for the period from 2008 to 2012.






What are the key features of the research?

Key features of these reports include:

• quantification of the market size and segmentation for travel insurance and assistance in each

country: how much are these markets worth and how are they likely to develop up to 2016?

• segmentation of travel insurance policies between single-trip and annual policies: to what extent

are annual policies on the rise and what are the obstacles to their growth?

• competitor share of partnerships by number of relationships: which providers of travel insurance

and assistance policies have the most relationships with travel trade and transportation entities,

which have been most successful with banks and how does this vary by country?

• commentaries about distribution channels in each country: how active are other key distributor

categories such as automotive clubs, direct sales, online aggregators and brokers, other online

brands, retailers and other entities, such as mobile telecoms operators?

• availability of accompanying PartnerBASE™ datasets that include every travel insurance

partnership traced by Finaccord across a total of more than 2,750 key distributors, plus market data

annexes, both in Excel format.






How can the research be used?

You may be able to use these reports and the PartnerBASE™ datasets and market data annexes

that accompany them in one or more of the following ways:

• appreciate the size of stand-alone travel insurance and assistance markets in each of 20

countries, their growth rates (since 2008) and their future prospects (to 2016);

• understand the supply structure for travel insurance and assistance, the operating models in use,

the level of market concentration and the relative importance of national versus international

companies;

• appreciate the potential for establishing distribution relationships across a broad range of partner

categories and view what different competitors are doing in this context;

• gain access to a single comprehensive source of information that covers distribution

arrangements for all significant travel trade, transportation and financial organisations in each

country;

• use the unique, standardised statistics contained in the market data annexes to develop your own

analyses and presentations on this subject.





Expertise in financial services Web: www.finaccord.com. E-mail: [email protected]

TRAVEL INSURANCE AND ASSISTANCE

Organisation Category Country Product offered? Operating model Immediate partner(s) / brand(s) UHC(s)

hostelworld.com Travel trade UK Yes External broker WorldNomads.com WorldNomads.com

hotels.com Travel trade UK Yes External underwriter Mondial Assistance Allianz

HSBC Financial UK Yes External underwriter Aviva Aviva

Ian Allan Travel Travel trade UK Yes External broker Cover-More Insurance Services Cover-More Insurance Services

icelolly.com Travel trade UK Yes Other Endsleigh, JS Insurance Zurich, Jade Stanley

9

How can the PartnerBASE™ be used?

Search by

organisation

Filter by category See operating model

Appreciate ultimate

holding companies

View partners






What do the market data annexes deliver?

For each country, the market data annexe provides the sample data shown above plus related data such as population and

national GDP. Note that growth in market values, expressed in gross written premiums, are displayed real terms (taking

account of inflation) as well as in nominal terms. This annexe can be used as a convenient source of data already in Excel

format which means that there is no need for users to re-enter data from the PDF report into their own Excel worksheets.

Country Variable (and units) 2008 2009 2010 2011 2012CAGR 2008 to

2012 (nominal)

CAGR 2008 to

2012 (real)2016

CAGR 2012 to

2016 (nominal)

CAGR 2012 to

2016 (real)

Country X Holiday trips (million) 9.1 9.7 10.4 11.2 10.9 4.7% 10.2 -1.8%

Country X Business trips (million) 2.1 3.1 3.2 3.5 2.9 7.9% 2.9 -0.3%

Country X Total trips (million) 11.2 12.8 13.6 14.7 13.8 5.3% 13.0 -1.5%

of which

Country X Europe (EU) 7.2 8.7 9.4 10.1 9.6

Country X Europe (non-EU) 1.4 1.2 1.3 1.4 1.3

Country X North America 0.3 0.4 0.4 0.4 0.4

Country X Rest of world 2.2 2.6 2.6 2.8 2.6

Country X Number of single-trip policies (000s) 2,698.3 2,581.5 2,805.9 2,774.7 2,774.7 0.7% 2,802.5 0.2%

Country X Number of annual policies (000s) 266.9 302.9 382.6 414.6 445.7 13.7% 573.4 6.5%

Country X Total number of policies (000s) 2,965.2 2,884.4 3,188.5 3,189.3 3,220.4 2.1% 3,375.9 1.2%

Country X Total GWP (EUR million) 118.6 119.0 135.5 139.5 144.9 5.1% 3.4% 168.8 3.9% 2.3%






Who can use the research?

1. Specialist travel insurance and assistance companies: these studies constitute a

comprehensive source of information about your core markets in Europe, giving detailed and

up-to-date information for 20 countries;

2. Multi-line insurers: although specialist providers dominate travel trade distribution, there are

opportunities for other insurers to gain market share by using other channels, and these reports

provide guidance about these possibilities;

3. Travel companies and other existing or potential travel insurance intermediaries: sales of travel

insurance are shifting away from traditional travel agents and tour operators – these reports

help you plan how to respond to this and to consider what might be the channels of the future;

4. Banking institutions and other card issuers: evaluate the attractiveness of offering travel

insurance as a stand-alone product or as an enhancement to payment cards or bank accounts;

5. Management consultancies: are you helping a travel company, assistance firm or insurer with

its future plans for the travel insurance and assistance market in any of these 20 European

countries? Save time researching the subject yourselves by accessing these publications.






What are some of the key findings?

1. Political turmoil in neighbouring states has caused volatility in the number of

trips made by Turkish citizens to countries outside of Europe and North America

Source: Turkstat, Finaccord analysis

0%

20%

40%

60%

80%

100%

2008 2009 2010 2011 2012

Europe (EU) Europe (non-EU) North America Rest of world






What are some of the key findings? (cont.)

Source: Finaccord analysis

2. In spite of the country's economic travails, the travel insurance and

assistance market of Spain has performed comparatively well in recent years

0

50

100

150

0

1

2

3

4

2008 2009 2010 2011 2012

Single trip policies Annual policies GWP

Policies (million) GWP (million)






What are some of the key findings? (cont.)

3. In Sweden, provision rates for travel insurance and assistance vary radically by type of distributor

Source: Finaccord PartnerBASE for Travel

Insurance and Assistance in Europe

94.5%

81.3%

15.4%

33.3%

50.0%

3.3%

7.1%

53.4%

0% 20% 40% 60% 80% 100%

Travel agents / tour operators

Online travel specialists

Airlines

Ferry operators

Railway operators

Banking organisations

Specialised card providers

Total






What are the costs and formats?

These reports about travel insurance and assistance in different European countries, plus others

about a variety of non-European countries available already or soon to be published at the time of

writing, are available as standard Adobe Acrobat PDF documents and / or hard copies. The

PartnerBASE™ datasets and market data annexes that accompany them at no further charge are

in Microsoft Excel format. Prices for each country are as follows:

* For UK-based clients, VAT at the prevailing rate will be added to the basic price.

Costs quoted are for a single site user licence only.

For a corporate user licence, please see the next slide for further details.

Invoices can be paid in EUR, at the prevailing exchange rate, if preferred.

Australia GBP 595 France GBP 595 Norway GBP 595 South Korea GBP 595

Austria GBP 595 Germany GBP 595 Oman GBP 595 Spain GBP 595

Bahrain GBP 595 Hong Kong GBP 595 Poland GBP 595 Sweden GBP 595

Belgium GBP 595 India GBP 595 Portugal GBP 595 Switzerland GBP 595

Brazil GBP 595 Ireland GBP 595 Qatar GBP 595 Taiwan GBP 595

Canada GBP 595 Italy GBP 595 Romania GBP 595 Turkey GBP 595

China GBP 595 Japan GBP 595 Russia GBP 595 UAE GBP 595

Czech Republic GBP 595 Kuwait GBP 595 Saudi Arabia GBP 595 UK GBP 595

Denmark GBP 595 Netherlands GBP 595 Singapore GBP 595 USA GBP 595

Finland GBP 595 New Zealand GBP 595 South Africa GBP 595

Travel Insurance and Assistance in...






How can the research be purchased?

Simple. Just go to the relevant area of the Finaccord web site available at

www.finaccord.com/order_travel_insurance_assistance_reports.htm and fill in the online order

form, clearly indicating:

• report required

• type of corporate user licence, if required *

• billing name

• address and e-mail address

• purchase order number, if applicable

Please allow up to one working day for the delivery of electronic copy by e-mail.

* For the corporate user licence please choose one of the following options:

1. One office, one country: no supplement over and above basic cost of reports ordered

2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered

3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered

4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered

VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers.



http://www.finaccord.com/order_travel_insurance_assistance_reports.htm







Economy & Finance

Series prospectus travel_insurance_assistance_europe