Affinity and Partnership Marketing in UK Financial Services - Series Prospectus June 2015 - Finaccord
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Affinity and Partnership Marketing in UK Financial Services
Affinity and Partnership Marketing
in UK Financial Services
Series Prospectus
June 2015
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 1Affinity and Partnership Marketing in UK Financial Services
Prospectus contents
Page
Which titles have been published? 3
What is the research? 4
What methodology has been used? 5
How does the sample break down? 6
What is the difference between the unweighted and weighted analyses of partnerships? 7-8
What is the structure of the reports? 9
What are the key features of the research? 10
How can the research be used? 11
How can the Partner BASE™ be used? 12
Who can use the research? 13
What are some of the key findings? 14-16
What is the cost and format? 17
How can the research be purchased? 18
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 2Affinity and Partnership Marketing in UK Financial Services
Which titles have been published?
Finaccord’s Affinity and Partnership Marketing in UK Financial Services series extends to the
following titles:
• Affinity and Partnership Marketing in UK Accident and Health Insurance
• Affinity and Partnership Marketing in UK Household and Home Emergency Insurance
• Affinity and Partnership Marketing in UK Life Insurance, Retirement Products and Financial Advice
• Affinity and Partnership Marketing in UK Motor and Breakdown Recovery Insurance
• Affinity and Partnership Marketing in UK Travel Insurance
Separate tables of contents are available for each of these studies on the relevant pages of the Fin
accord website with this single marketing prospectus covering the entire series.
In addition, a further report titled Affinity and Partnership Marketing in UK Commercial Non-Life
Insurance is also available, for which a separate report prospectus and table of contents can be
obtained, as is a distinct series titled UK Niche Insurance: Market Dynamics, Affinities and
Partnerships, again accompanied by its own series prospectus and tables of contents.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 3Affinity and Partnership Marketing in UK Financial Services
What is the research?
The Affinity and Partnership Marketing in UK Financial Services series provides unique insights and
detailed intelligence into developments and opportunities in affinity and partnership marketing in
insurance and other financial services in the following broad and specific partner categories:
• not-for-profit affinity partners - charities; housing associations; lifestyle organisations; professional
associations; sports organisations; trade associations; trade unions; and universities;
• financial institutions - banks; building societies; credit and charge cards; credit unions; friendly
societies; insurers (tied / multi-tied intermediaries); insurers (underwriters); online aggregators and
brokers; packaged accounts; and specialised lenders;
• commercial partners - airlines; automotive associations; automotive manufacturers; coalition
loyalty schemes and frequent flyer programs; estate agency and property service firms; football and
rugby clubs; internet, media and telecoms entities; online price comparison providers; retailers;
travel companies; and utilities and gas boiler manufacturers.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 4Affinity and Partnership Marketing in UK Financial Services
What methodology has been used?
The survey of 2,555 actual and potential affinity partners was carried out between February and May
2015 and covers the vast majority of viable affinity distributors in the UK consumer financial services
market. The research embraces the following information:
• for each affinity group or partner considered, whether it offers the insurance or other financial
service in question;
• if provided, whether the product or service is offered through one or more partnerships with external
companies, by means of a sister or captive company, or on an in-house basis;
• if provided through one or more partnerships, the identity of the partner(s) and the classification of
the partnership(s).
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 5Affinity and Partnership Marketing in UK Financial Services
How does the sample break down?
Commercial partners, 690 - of which
220 travel companies, 82 internet,
media and telecoms entities, 80
retailers, 76 football and rugby clubs,
47 automotive manufacturers, 65
estate agency and property services
Not-for-profit affinity partners, 1,232 - of
firms, 55 utilities and gas boiler
which 702 trade associations, 144
manufacturers, 20 online price
professional associations, 87 trade
comparison providers, 26 airlines, ten
unions, 110 charities, 56 sports
coalition loyalty schemes and
organisations, 50 housing associations,
frequent flyer programs and nine
45 universities and 38 lifestyle
automotive associations.
organisations .
633 financial partners of which 199
individual credit and charge cards, 149
insurers (splitting between 83
underwriters and 66 tied or multi-tied
intermediaries), 57 specialised lenders,
54 banks, 49 building societies, 41
online aggregators and brokers, 35
credit unions, 25 friendly societies and
24 packaged accounts.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 6Affinity and Partnership Marketing in UK Financial Services
What is the difference between the unweighted
and weighted analyses of partnerships?
Finaccord's new series of studies on this subject incorporates a new analysis whereby it identifies not
only the financial product providers with the most partnerships (overall, and within each category), but
also computes 'weighted provider shares of partnerships' in order to highlight the providers that are
likely to hold the most valuable relationships given the characteristics of their partners.
Within affinity and partner categories (e.g. for banks in isolation), it does this by weighting
partnerships in accordance with the UK traffic ranking for each organisation's website. Then, across
all distributor categories combined, it also takes into account the approximate distribution share of the
financial service in question of the category to which the organisations belong, as measured by
Finaccord's Channel Metrics consumer research, and additionally incorporates the number of
organisations in the category that offer the financial service in question so that the distribution share
is divided across the number of active organisations. (The precise formulae and workings used can
be obtained from Fin accord if needed.)
An example of the impact of this approach, illustrating the differences that can emerge between the
unweighted and weighted analyses of partnerships, is presented on the following slide.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 7Affinity and Partnership Marketing in UK Financial Services
What is the difference between the unweighted
and weighted analyses of partnerships? (cont.)
Building societies offering household insurance
Unweighted provider share of partnerships Weighted provider share of partnerships
UK Insurance, 2.6%
Arthur J Gallagher, 3.7% other, 1.9%
Tower gate Underwriting, 2.6%
Thomas, Carroll P.C., 2.6% RSA, 5.2%
Ages, 5.1%
Aviva, 7.7%
RSA, 46.2%
Legal & General,
10.3%
UK Insurance dominates
the weighted analysis
because of its partnership
Arthur J Gallagher, with the Nationwide (and
23.1% UK Insurance, 89.2%
its subsidiary brands), by
far the largest building
Source: Fin accord Partner society group in the UK.
BASE
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 8Affinity and Partnership Marketing in UK Financial Services
What is the structure of the reports?
0. Executive Summary: providing a concise evaluation of the principal findings of the report.
1. Introduction: offering rationale for the report, a detailed description of the methodology and associated definitions.
2. Market Overview: a ‘bird’s eye’ overview of the sector including provision rates by category of distributor for each
product or service in scope plus analyses of both the unweighted and weighted share of partnerships of providers
across all types of distributor combined.
3. Not-for-Profit Affinity Partners: a detailed investigation into the current status of partnerships for the product(s)
and service(s) in question analysed separately (where relevant) for each of: charities; housing associations; lifestyle
organisations; professional associations; sports associations; trade associations; trade unions; and universities.
4. Financial Partners: as for chapter 3 but with separate analysis (where relevant) of: banks; building societies;
credit and charge cards; credit unions; friendly societies; insurers (tied / multi-tied intermediaries); insurers
(underwriters); online aggregators and brokers; packaged accounts; and specialised lenders.
5. Commercial Partners: as for chapter 3 but with separate analysis (where relevant) of: airlines; automotive
associations; automotive manufacturers; coalition loyalty schemes and frequent flyer programs; estate agency and
property service firms; football and rugby clubs; internet, media and telecoms entities; online price comparison
providers; retailers; travel companies; and utilities and gas boiler manufacturers.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 9Affinity and Partnership Marketing in UK Financial Services
What are the key features of the series?
Key features of this series include:
• five separate studies covering the following fields: accident and health insurance; household and
home emergency insurance; life insurance, retirement products and financial advice; motor and
breakdown recovery insurance; and travel insurance;
• results drawn from an extensive survey of 2,555 affinity and partnership marketing distributors for
insurance and other financial services in the UK;
• analyses of the share of partnerships of providers for each distributor category and across all
categories combined on both an unweighted and weighted basis;
• accompanying Partner BASE™ database with each report, providing a complete listing of all affinity
and partnership marketing schemes in place, searchable by partner type, operating model and
product provider.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 10Affinity and Partnership Marketing in UK Financial Services
How can the research be used?
You may be able to use this series of reports and the Partner BASE™ databases that accompany it
in one or more of the following ways:
• drill down into the detail lying behind affinity and partnership marketing schemes for the specific
insurance and other financial products in which you are interested;
• gain access to research that chronicles the vast majority of affinity and partnership marketing
opportunities in mainstream consumer insurance lines in the UK;
• understand not only which providers have secured the most partnerships but which are likely to
hold the most valuable deals for each product or service;
• benchmark the competitive position of your own organisation in affinity and partnership marketing
and spot opportunities for displacing rivals;
• plan your future affinity and partnership marketing strategy armed with the best market and
competitor intelligence available on this subject.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 11Affinity and Partnership Marketing in UK Financial Services
How can the Partner BASE™ be used?
Filter by category Select operating model
LIFE INSURANCE, RETIREMENT PRODUCTS AND FINANCIAL ADVICE
Organisation Type Product / service Offered? Operating model Partner(s)
Saffron B.S. Building societies Financial advice Yes External IFA Towergate Financial
Saffron B.S. Building societies Life insurance Yes External IFA + external underwriter Dignity Pre Arrangement, Towergate Financial
Saffron B.S. Building societies Retirement products Yes External IFA Towergate Financial
Saga (Acromas) Insurers - underwriters Financial advice Yes External IFA my wealth (Wealth at Work)
Saga (Acromas) Insurers - underwriters Life insurance Yes Multiple external underwriters Legal & General, Vitality Life
Saga (Acromas) Insurers - underwriters Retirement products Yes Multiple external providers Just Retirement, Legal & General
Look up specific Choose product / service Identify partners
affinity partners
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 12Affinity and Partnership Marketing in UK Financial Services
Who can use the research?
1. Aggregators, brokers, IFAs and other intermediaries: affinity and partnership marketing
schemes represent a growth opportunity in many of the sectors considered as consumers
migrate to alternative distribution interfaces and channels;
2. Banks and building societies: the reports will provide insights into where banks and building
societies belong in the wider market for insurance partnerships;
3. Insurance companies: understand the prospects for affinity and partnership marketing across
each of the main lines of personal insurance and the preferences of partner organisations
when it comes to solutions based around intermediaries as opposed to direct relationships with
the ultimate product providers;
4. Management consultancies: are you helping an organisation in any of the preceding categories
with its distribution strategy? This research will help you to evaluate the options in affinity and
partnership marketing, saving time and effort on researching the subject yourself.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 13Affinity and Partnership Marketing in UK Financial Services
What are some of the key findings?
1) Across all 2,555 organisations researched, 202 (7.9%) were found to offer private
medical insurance with most of these initiatives organised via an external broker
% of all organisations offering product, and operating models used
100%
Other / undisclosed
Internal aggregator / broker
80%
Internal underwriter
60% Captive aggregator / broker
Captive underwriter
40% External aggregator / broker
External underwriter via external broker
20% Multiple external underwriters
External underwriter
0%
Product offered Operating model
(see legend)
Source: Fin accord Partner BASE
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 14Affinity and Partnership Marketing in UK Financial Services
What are some of the key findings? (cont.)
2) Among the 110 charities surveyed, initiatives are most in evidence for household,
motor and travel insurance but are most scarce for dental and home emergency cover
Accident insurance 1.8%
Breakdown recovery insurance 6.4%
Dental insurance 0.9%
Financial advice 4.5%
Health / hospital cash plans 5.5%
Home emergency insurance 0.9%
Household insurance 26.4%
Life insurance 20.0%
Motor insurance 30.9%
Private medical insurance 3.6%
Retirement products 9.1%
Travel insurance 26.4%
0% 10% 20% 30% 40%
% of organisations offering product or service
Source: Finaccord PartnerBASE
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 15Affinity and Partnership Marketing in UK Financial Services
What are some of the key findings? (cont.)
3) When measured on an unweighted basis, partnerships for breakdown recovery insurance
are spread quite evenly among the leading providers although the weighted analysis suggests
that those of the AA and the RAC are with more important organisations for this product
Unweighted provider share of partnerships Weighted provider share of partnerships
DAS, 10.6%
other, 18.7%
AA, 10.3% AA, 26.4%
other, 30.2% Comparison
Creator, 3.3%
AXA
Assistance,
Autohome 4.2%
Assistance, Allianz Global
9.3% Assistance,
AXA 4.3%
Assistance, Call Assist,
3.4% First Call, 4.3%
9.0% Britannia
RAC, 9.0% RAC, 21.9%
Rescue (LV=),
Parliament HMCA, 9.0% 5.1% Green Flag,
Hill, 9.0% 11.8%
Source: Fin accord Partner
BASE
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 16Affinity and Partnership Marketing in UK Financial Services
What is the cost and format?
Reports in the Affinity and Partnership Marketing in UK Financial Services series are available as
standard PDF documents. The Partner BASE databases that accompany them are in Excel format.
Costs for these studies plus the related title about commercial non-life insurance, are as follows:
REPORT COST *
Affinity and Partnership Marketing in UK Accident and Health Insurance USD 2,095
Affinity and Partnership Marketing in UK Household and Home Emergency Insurance USD 2,095
Affinity and Partnership Marketing in UK Life Insurance, Retirement Products and Financial Advice USD 2,095
Affinity and Partnership Marketing in UK Motor and Breakdown Recovery Insurance USD 2,095
Affinity and Partnership Marketing in UK Travel Insurance USD 1,195
Affinity and Partnership Marketing in UK Commercial Non-Life Insurance USD 2,095
* For purchases of multiple reports, a discount scale is available: please contact Finaccord for further details.
# GST at the prevailing rate will be added to the basic price for Singapore-based buyers except for where the request
is for hard copy only. Costs quoted are for a single office, single country licence only. For corporate user licence
options, please see the next slide for further details. Invoices can be paid in EUR or GBP, at the prevailing exchange
rate, if preferred.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 17Affinity and Partnership Marketing in UK Financial Services
How can the research be purchased?
Simple. Just go to the relevant area of the Finaccord website, create your account (if you do not
have one already) and place your order online. Products paid for online by card will be delivered
immediately by e-mail but please allow up to one working day for delivery by e-mail if you choose to
pay on receipt of invoice.
With regards to the corporate user licence, you will be asked to choose one of the following options:
1. One office, one country: no supplement over and above basic cost of reports ordered
2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered
3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered
4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered
Alternatively, you can place an order by sending your request to order@finaccord.com, clearly
stating the product(s) required, associated price(s) and billing details for eventual invoice or card
payment receipt.
© Finaccord, 2015 Web: www.finaccord.com. E-mail: info@finaccord.com 18You can also read
