Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global Markets

Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global Markets investigates the market for insurance and assistance policies linked to banking products across ten major non-European countries, namely Australia, Brazil, Canada, China, India, Japan, Mexico, South Africa, South Korea and the US. Composed of a series of cover types designed to enhance the payment card and current account operations of banks and other card providers, Finaccord’s research indicates the combined market across these ten countries to have been worth some USD 14.78 billion in 2013. Drawing on the results of an investigation covering over 300 banking institutions and other issuers and distributors of credit cards in the ten countries, 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;

• concierge services.

• quantification of the market size and segmentation for insurance and assistance linked to payment cards and bank accounts: how much is the market really worth across the countries considered?

• analysis of the many types of insurance and assistance policy marketed in each country and how the risks covered vary from one country and distributor to another;

• consideration of the role of centralised payment card issuing entities in each country and the degree to which individual banking institutions are concluding their own agreements for card-related insurance and assistance over and above the basic levels of cover already provided;

• calculation of provider share of partnerships based on number of relationships: which providers of insurance and assistance policies have been successful in establishing relationships with banking institutions and other card issuers or distributors and how does this vary by country?

• availability of an accompanying PartnerBASE database that details each of close to 15,000 insurance or assistance enhancements to over 5,000 payment cards and bank accounts analysed.