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Fleet Insurance and Assistance in Spain
Finaccord, September 2011
Fleet Insurance and Assistance in Spain is about the market for and distribution of policies covering motor insurance, road assistance and GAP insurance for fleet vehicles in Spain.
For 2007 to 2011 and with a forecast for 2015, the study breaks down the Spanish fleet vehicle parc and its motor insurance market with a unique segmentation of fleet vehicles, as follows:
Passenger cars:
- car hire firms;
- driving schools;
- motor trade;
- operating lease fleets;
- taxi and private hire firms;
- other fleets.
Commercial vehicles:
- couriers and postal services;
- motor trade;
- operating lease fleets;
- own account haulage;
- removal firms;
- road haulage;
- van and lorry hire firms;
- other fleets.
The report also identifies affinity schemes and commercial partnerships for motor insurance, road assistance and GAP insurance in Spain set up between trade associations, leasing companies, leasing brokers, fleet management companies, and vehicle hire companies with providers of these policies. In addition, it highlights other key underwriters and brokers in this market and discusses key issues such as the use of telematics for insurance and assistance. All these features make this report the most comprehensive analysis of fleet insurance and assistance in Spain ever produced.
You may be able to use this report and the accompanying PartnerBASE™ dataset in one or more of the following ways:
- to compare the size, growth rates and future prospects of the fleet motor insurance markets in Spain;
- to evaluate the potential for your organisation to target fleet motor insurance, road assistance and GAP insurance propositions at specific segments of the fleet market;
- to understand the competitive environment for broking, underwriting and assistance provision in Spanish fleet segments;
- to gain access to a single comprehensive source of information providing broker, underwriter and assistance provider details for affinity schemes and commercial partnerships set up for motor insurance, road assistance and GAP insurance;
- to appreciate which fleet segments in Spain offer the best long-term potential and which are already saturated with competitors.
0.0 EXECUTIVE SUMMARY
1.0 INTRODUCTION
What is this report about?
Motor insurance and assistance for fleets is studied by vehicle type, industry segment and distribution
Rationale
A major component of the motor insurance market is analysed to a unique level of detail...
...with the associated PartnerBASE™ dataset providing key information about competitors
Methodology
Survey of associations and fleet operating companies
Market data
Definitions
Fleet
Commercial vehicles
Haulage vehicles
Insurance buyer
Motor trade
Operating lease
Taxis and private hire vehicles
Motor insurance
GAP insurance
Operating models
Abbreviations
Finaccord
2.0 MARKET ANALYSIS
Introduction
Size of the car and commercial vehicle fleet market
The size of the fleets held by rental firms and the motor trade has fallen sharply since 2007...
... and the bus and coach fleet is the only sector to grow in recent years
Segmentation of the fleet market by type of insurance buyer
Passenger cars
Operating lease vehicles are insured by the lease company in Spain...
...and constitute 30% of the stock of fleet passenger cars
The motor trade's stock of vehicles has plummeted since the recession
Taxi and driving schools fleets are small since self-employment dominates these sectors
Commercial vehicles
Operating lease vehicles form a smaller part of the fleet parc for the commercial sector
The sector of couriers and postal vehicles is the only one to have grown, thanks to Grupo Correos
Fleet insurance and assistance market size
The overall motor insurance market has fallen between 2007 and 2011 due to a decline in policy volumes...
... driven by a fall in fleet vehicles and a rise in uninsured non-fleet drivers
Passenger car fleet insurance
Every segment within the fleet passenger car market has shrunk...
... with car hire firms' premiums falling most of all
Commercial vehicle fleet insurance
The insurance market for fleet commercial vehicles is worth 85% of the fleet passenger car market
Liability prices have fallen faster than other motor insurance policies since 2007
Road assistance
The road assistance market has declined as the number of fleet vehicles has shrunk
Distribution partnerships for fleet insurance and assistance
70 actual or potential distributors are covered by this research
Motor insurance
All commercial organisations have a partnership for motor insurance
Nine brokers were identified for motor insurance, led by CETM Seguros among trade associations...
...while 14 underwriters shared 43 relationships
Road assistance
Road assistance provision for trade associations always comes from the same source as motor insurance
... while commercial partnerships are concentrated on specialist assistance providers
Two brokers offer road assistance through trade associations
Specialist assistance providers and insurance companies share commercial partnerships between them...
... including three multi-national assistance specialists
Other key insurance and assistance providers
Only one major underwriter was found that did not provide motor fleet insurance
All leading brokers handle motor fleet business, but this sector is dominated by a handful of players
Local assistance providers rescue commercial vehicles in case of breakdown
Forecasts for fleet motor insurance and road assistance
Motor insurance
Spain's slow economic recovery means that the fleet insurance market is expected to grow only slowly
Premiums for the car hire sector are expected to be one of the fastest-growing areas, thanks to tourism
Operational leasing can recover well as companies renew their vehicle parc
Road assistance
Premiums are expected to rise faster for passenger car fleets than for commercial vehicle fleets
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Size and segmentation of the fleet vehicle parc and of the fleet motor insurance market in Spain, 2011
1.0 INTRODUCTION
Organisations contacted by Finaccord segmented by category
2.0 MARKET ANALYSIS
Size of the fleet vehicle parc in Spain, 2007 to 2011
Size of the fleet vehicle parc in Spain, 2007 to 2011 (data)
Size of the passenger car fleet parc by type of insurance buyer in Spain, 2011
Growth in the passenger car fleet parc by type of insurance buyer in Spain, 2007 to 2011
Size of the passenger car fleet parc by type of insurance buyer in Spain, 2007 to 2011 (data)
Size of the commercial vehicle fleet parc by type of insurance buyer in Spain, 2011
Growth in the commercial vehicle fleet parc by type of insurance buyer in Spain, 2007 to 2011
Size of the commercial vehicle fleet parc by type of insurance buyer in Spain, 2007 to 2011 (data)
Size of the fleet motor insurance market and its share of the total motor insurance in Spain, 2007 to 2011
Size of the motor insurance market segmented by fleet and non-fleet and by type of vehicles in Spain, 2007 to 2011 (data)
Size of the passenger car fleet motor insurance market in Spain by type of insurance buyer, 2011
Growth in the passenger car fleet motor insurance market by type of insurance buyer in Spain, 2007 to 2011
Size of the passenger car fleet motor insurance market in Spain by type of insurance buyer, 2007 to 2011 (data)
Size of the commercial vehicle fleet motor insurance market in Spain by type of insurance buyer, 2011
Growth in the commercial vehicle fleet motor insurance market by type of insurance buyer in Spain, 2007 to 2011
Size of the commercial vehicle fleet motor insurance market in Spain by type of insurance buyer, 2007 to 2011 (data)
Size of the fleet road assistance market in Spain, 2007 to 2011
Affinity schemes for fleet motor insurance in Spain: provision rate and operating models among trade associations, 2011
Commercial partnerships for fleet motor insurance in Spain: provision rate and operating models, 2011
Affinity schemes and commercial partnerships for fleet motor insurance in Spain: broker and underwriter share of partnerships, 2011
Affinity schemes for fleet road assistance in Spain: provision rate and operating models among trade associations, 2011
Commercial partnerships for fleet road assistance in Spain: provision rate and operating models, 2011
Affinity schemes and commercial partnerships for fleet road assistance in Spain: broker and assistance provider share of partnerships, 2011
Forecast change for the passenger car fleet insurance market by type of insurance buyer in Spain, 2011 to 2015
Forecast premiums for the passenger car fleet insurance market by type of insurance buyer in Spain, 2011 and 2015 (data)
Forecast change for the commercial vehicle fleet insurance market by type of insurance buyer in Spain, 2011 to 2015
Forecast premiums for the commercial vehicle fleet insurance market by type of insurance buyer in Spain, 2011 and 2015 (data)
Forecast premiums for the fleet road assistance market in Spain, 2011 and 2015
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