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Creditor Insurance in Northern, Central and Eastern Europe
Finaccord, Nov 2011
Finaccord's report titled Creditor Insurance in Northern, Central and Eastern Europe offers updated and detailed insights into the market for creditor insurance, sometimes also referred to as payment protection insurance or loan-related insurance, in 12 countries.
Often categorised as a niche market, creditor insurance was worth around EUR 13.28 billion in gross written premiums in the region in 2011, including coverage for life and permanent disability as well as the temporary disability and unemployment elements. Moreover, with sustainable growth likely in most markets and with profit margins relatively high, creditor insurance remains an attractive business for both lending institutions and underwriters to cultivate.
Drawing on the results of a survey of over 700 lending institutions in 12 countries (Austria, Czech Republic, Denmark, Finland, Germany, Norway, Poland, Romania, Russia, Sweden, Switzerland and Turkey), the report analyses the provision of creditor insurance by lending institutions, variances in provision by underlying lending product, operating models for provision of creditor insurance and weighted provider share of partnerships. The
PartnerBASE™ dataset that accompanies the report details each of the c. 1,035 creditor insurance distribution deals traced by Finaccord. Together, the report and PartnerBASE™ dataset will provide you with the definitive guide to current and future opportunities in creditor insurance in Northern, Central and Eastern Europe.
REASONS TO BUY
You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:
- appreciate the magnitude of the opportunity in creditor insurance in Northern, Central and Eastern Europe: the market is still growing in several countries;
- identify partnership opportunities for creditor insurance and prioritise these according to the potential that they offer as defined by the size of lending institutions' retail customer base;
- understand the supply structure for creditor insurance in Northern, Central and Eastern Europe and whether specialists are winning business by virtue of their focused approach;
- assess the extent to which the provision of temporary incapacity and unemployment modules within creditor insurance policies is commonplace in Northern, Central and Eastern Europe;
- gain insight into the international presence of leading creditor insurance market participants including Allianz, AmTrust Financial Services, Aviva, BNP Paribas Cardif, Europa, Genworth Financial, MetLife, Swiss Life, Talanx, The Warranty Group, UNIQA, and Vienna Insurance Group.
WHO SHOULD BUY THIS REPORT
- Insurance providers: this research is a unique guide to a valuable segment of the personal insurance market in Northern, Central and Eastern Europe - be fully appraised of what developments in creditor insurance markets could mean for your organisation;
- Providers of third party administration services: due to its specialised characteristics, insurers sometimes outsource the administrative processes associated with creditor insurance, thereby creating opportunities for third party providers;
- Banks and other lending institutions: how does your organisation's ability to cross-sell creditor insurance to individual borrowers compare with its peer group in Northern, Central and Eastern Europe and could you use a captive insurer to underwrite third party creditor risks?
- Management consultancies: are you helping an insurance company with its bancassurance strategy or evaluating how it can develop its business in creditor insurance? Understand the current status of creditor insurance in Northern, Central and Eastern Europe, saving time and effort on researching the subject yourself.
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