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Commercial Affinity Groups: Marketing Financial Services through Professional and Trade Associations in Germany
Finaccord, Feb 2009, Pages: 130
Finaccord’s report titled Commercial Affinity Groups: Marketing Financial Services through Professional and Trade Associations in Germany is a market research report investigating the opportunities for marketing banking and insurance services through professional and trade associations in Germany. The study is based on a survey of over 730 such associations in Germany in 12 separate industry categories, ranging from highly specialised trade bodies to larger organisations such as the Bundesverband Mittelständische Wirtschaft, and analyses their current and future intended provision to members of financial services in five broad sectors, namely: business banking services; business insurance; accident and health insurance; life insurance and pensions; and personal general insurance.
Moreover, the PartnerBASE database that accompanies the report details each of the schemes for financial services traced by Finaccord identifying the operating models and partners used in each instance. With a significant number of professional and trade associations seeking to add value for their members by organising new schemes for affinity financial services on their behalf in future, this channel seems likely to deliver interesting growth prospects for both banking and insurance institutions. Therefore, the report and database together will provide you with the definitive guide to current and future opportunities for marketing financial services through professional and trade associations in Germany.
Key findings from the executive summary include:
- seven providers were identified as having at least five exclusive relationships for business insurance with professional and trade associations, namely: Allianz, Aon / Unita, Gothaer, HDI Gerling, R+V, Signal Iduna and Zurich;
- 13.4% of professional and trade bodies surveyed have made an arrangement for providing life insurance or pensions to members with associations in the miscellaneous category showing the highest rate of penetration at 29.0% of entities in this sector;
- commercialaffinity schemes for business banking services are much less widespread in Germany than in the UK mainly as a result of the virtual absence of agreements for the provision of payment card transaction processing services on favourable terms to commercial affinity group members;
- the tough economic environment that is likely to persist in Germany during 2009 and, perhaps, 2010, increases the rationale for commercial affinity programs for financial services with professional and trade associations as both the individual and corporate members of such organisations will be keener than ever to achieve cost savings.
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