Press Releases

10 April 2024 -

  • Automobile manufacturers in Asia are more likely to provide insurance products than car dealerships
  • There is an opportunity for both manufacturers and non-tied providers to establish partnerships with car dealers throughout the region
  • Extended warranty is the leading opportunity for distribution through car dealerships

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26 July 2023 -

  • About 40 million people in Europe have an account with a neo-bank
  • So far, these banks offer fewer insurance products than established banks, although partnerships are developing
  • Creditor insurance is the leading opportunity for distribution through neo-banks

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15 December 2022 -

  • Both travel and travel insurance markets have seen drastic changes since Finaccord’s last survey on this topic in 2017
  • More than half of travel insurance and assistance claims made in the past two years were related to the pandemic
  • Consumers are willing to pay more in future for pandemic cover

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29 September 2022 -

  • Europe’s platform economy is growing rapidly and represents a EUR 500 million+ insurance opportunity
  • The opportunity to distribute insurance through platforms is underdeveloped, with two-thirds of platform entities not distributing any insurance products
  • Six of the top ten platforms do not have existing insurance partnerships in any of the eight countries surveyed
  • Finaccord’s research gives insurers unique tools to approach and develop opportunities in this fast-developing space

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29 April 2022 -

  • Use of health and fitness-monitoring devices has boomed, but
    diverse consumers require a tailored, multi-faceted approach
  • Customer willingness to share health data remains a hurdle for
    insurers targeting specific countries and demographic groups
  • Information gaps persist: most people remain unaware of apps
    used to diagnose and manage medical conditions

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01 February 2022 -

  • Across ten major countries, face-to-face communications dropped dramatically in 2020 while online and phone communications increased
  • The shift to digital is likely to last: in most countries surveyed over half of all respondents expect to buy insurance online more often after 2020
  • Insurer reputations have proved resilient: asked whether their view of their insurer had improved or worsened in 2020, more people chose ‘improved’

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30 August 2021 -

  • Mobile phone protection has yet to develop from extended warranties into true insurance
  • It remains limited to traditional risks such as technical breakdown and accidental damage in most countries
  • Risks from viral attacks or fraudulent use are only covered in a few countries

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25 January 2021 -

  • Income protection cover has seen the fastest growth among life insurance lines which together make up a EUR 50 billion market
  • it accounts for up to half the protection life market in some countries, though it is negligible in others
  • while traditional risk life cover remains the core product for protection life insurance, diversification is driving market growth

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23 October 2020 -

Finaccord estimates that the global market was worth over USD 16 billion in 2019

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17 September 2020 -

Across Europe, insurers have gained share in the surety market from banks

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13 January 2020 -

  • The world’s commercial lines insurance market was worth around USD 812 billion in premiums in 2018;
  • by product class, cyber cover is easily the most rapidly growing segment within this;
  • by customer activity, the most commercial lines cover is bought by manufacturing enterprises.

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18 November 2019 -

Affinity insurance in the US is only about a half as developed as it is in the UK

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27 March 2019 -

Increasing take-up among eligible customers remains key to expanding the global market for international health insurance above and beyond the rate that it is naturally increasing

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17 January 2019 -

Growth in niche personal lines insurance and warranty products in the US is generating opportunities for affinity schemes, especially those powered by insurtech pioneers

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12 July 2018 -

The global expatriate population has reached 66.2 million and is on track to rise to 87.5 million by 2021

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20 February 2018 -

Banks are increasing the range of insurance product types that they market to their customers 

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13 February 2018 -

Measured globally, BNP Paribas Cardif, AXA and MetLife hold the most bancassurance relationships of any type

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06 February 2018 -

Finaccord research shows that 50% of the world’s top 500 retail banking groups own (or co-own) at least one captive or joint venture insurer

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09 November 2017 -

Globally, the number of multinationals is growing but the international mobility of their employees is increasing more rapidly

  • Multinational companies set to increase in number by 13.6 percent from 12,230 in 2017 to 13,900 by 2021;
  • growth driven mainly by medium-sized multinationals with annual revenues of between US$ 1 billion and US$ 10 billion;
  • international mobility is rising as the number of expatriate and other corporate transferees employed by multinationals is set to surpass 1 million by 2021, mainly due to enterprises based in the Asia-Pacific region.

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08 November 2017 -

  • The UK remains the world’s most developed major market for pet insurance;
  • women are more likely than men to own a pet;
  • female and male pet owners are equally likely to acquire pet insurance;
  • in contrast to other countries, insurance penetration in China is higher for cats than for dogs.

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06 September 2017 -

  • Expenditure on commercial non-life insurance by small businesses is likely to total around £5.61 billion in 2017; 
  • total UK market for commercial non-life insurance for small businesses forecast to grow by 2.8 percent annually to reach £6.21 billion by 2020;
  • management / business consultancies and couriers set to experience highest growth in expenditure up to 2020.

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13 October 2016 -

Individuals aged 31 are most likely to be juggling multiple loans; digital lending is growing in the wake of the FinTech revolution

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06 October 2016 -

Use of comparison sites to buy car (auto) and home insurance is developing rapidly
but is trailing in Canada and the US relative to the UK and continental Europe

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23 September 2015 -

The global energy and power insurance market is likely to be worth at least USD 24.59 billion in gross written premiums by 2018 and could rise to USD 26.15 billion in the event of a sharp recovery in the oil price 

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24 August 2015 -

The total number of members of coalition loyalty programs worldwide is likely to have risen above 2 billion for the first time in 2015 

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13 May 2015 -

The global market for consumer automotive finance was worth around USD 1.24 trillion in new business in 2014 with point-of-sale contracts organised through dealers easily out-growing direct finance from banks

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