1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Australia

Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Australia is about the market for extended warranties and insurance sold in conjunction with white goods, brown goods, grey goods, mobile gadgets and mobile phones in Australia.

The study draws on extensive primary and secondary research covering 117 organisations involved in the production and distribution of mobile and non-mobile consumer products including manufacturers, mainstream mobile network operators, mobile virtual network operators (MVNOs), specialised retailers of consumer electronics, supermarkets and other types of retailer (namely, department stores, DIY outlets, speciality retailers and variety retailers). Hence, it provides a comprehensive overview of this activity across Australia.

Key features of this publication include:

- quantification of the market value for extended warranties and insurance linked to mobile and non-mobile consumer products: how much is the market likely to have been worth in Australia in 2015, how did it split between white goods, brown goods, grey goods, mobile gadgets and mobile phones, and to what extent did each of these segments grow or decline in value since 2011?

- analysis of extended warranty underwriters and brokers that have established scheme relationships with manufacturers and retailers of white goods, brown goods, grey goods, mobile gadgets and mobile phones, including their unweighted share of partnerships;

- consideration of the potential for cross-selling stand-alone extended warranty and insurance policies through independent channels that are separate from either manufacturers or retailers: does an emerging market exist for this form of distribution in Australia?

- forecasts for the market size for extended warranties and insurance linked to mobile and non-mobile consumer products up to 2019: assuming no significant changes in the number of manufacturer and retailer schemes, what factors will cause this sector to grow or decline in the next few years?

Table Of Contents

Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Australia

TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is this report about? 3
This report provides a comprehensive analysis of loan-related insurance policies in South Africa… 3
Rationale 3
… and tracks all significant initiatives for marketing creditor insurance through lending institutions 3
Methodology 3
Survey of banks and other lending institutions 3
Market data 4
Definitions 5
Creditor insurance 5
Mortgages, consumer finance and credit cards 5
Weighted provider share of partnerships 5
Operating models 6
Abbreviations and exchange rates 7
PartnerBASE and market data annexe 7
Finaccord 7
20 MARKET ANALYSIS 9
Banks and other lending institutions covered 9
Introduction to the banking sector 9
South Africa's 'big four' banks account for a majority of the country's banking assets 9
Competition comes from automotive captives plus both retailers and retailer-owned lending businesses 9
Consumer lending market size and growth 10
Mortgage lending 10
Balances outstanding in the South African mortgage market have stagnated in recent years… 10
Non-mortgage lending 11
… with non-mortgage lending also tapering off following a period of strong growth 11
Credit and other pay later cards 12
Credit and other pay later cards per capita edged up slightly between 2011 and 2015 12
Creditor insurance provision rates, operating models and partnerships 14
Creditor insurance linked to mortgages 14
The leading four underwriters of mortgage-related cover are all classifiable as captives… 14
with Sanlam Group's Channel Life likely to be the leading external partner 14
Creditor insurance linked to consumer finance 16
Over 80% of institutions granting non-mortgage loans have a related creditor insurance proposition… 16
… creating additional opportunities for external underwriters such as Guardrisk and Hollard Insurance 16
Creditor insurance linked to credit cards 18
All credit card issuers other than one promote payment protection insurance policies 18
Creditor insurance risk coverage 20
Over 80% of creditor insurance policies analysed include an option for acquiring unemployment cover… 20
… albeit the penetration rates diminish slightly in the weighted analysis 21
Alternative distribution channels 22
South African borrowers can acquire creditor insurance from a variety of alternative sources… 22
… including both credit and insurance brokers plus one underwriter selling directly… 22
… namely Shackleton Life, a specialist insurer established in 2013 22
Many car dealers also distribute creditor insurance from non-tied providers…

… such as Guardrisk, Regent Insurance and Traficc 22
Creditor insurance market size, growth and forecast 23
Creditor insurance policies linked to consumer finance account for the majority of the market value… 23
albeit those linked to credit cards are likely to have grown the most between 2011 and 2015 24
There is some regulatory concern regarding creditor policies linked to consumer finance and credit cards… 25
which could potentially curtail future market growth

LIST OF GRAPHICS / TABLES

00 EXECUTIVE SUMMARY 1
Creditor insurance gross written premiums in South Africa, segmented by policy and cover type, 2011, 2015 and 2019 (forecast) 2
10 INTRODUCTION 3
Banks and other lending institutions in South Africa contacted by Finaccord, segmented by type 4
20 MARKET ANALYSIS 9
Residential mortgage lending balances outstanding in South Africa (absolute and per capita), 2011 to 2015 10
Consumer non-mortgage lending balances outstanding in South Africa (absolute and per capita), 2011 to 2015 11
Credit and other pay later cards issued and per capita in South Africa, 2011 to 2015 12
Key data points for the consumer lending market in South Africa, 2011 to 2015 (table) 13
Provision of creditor insurance linked to mortgages in South Africa, 2015: provision rate, operating models and weighted provider share of partnerships 15
Provision of creditor insurance linked to consumer finance in South Africa, 2015: provision rate, operating models and weighted provider share of partnerships 17
Provision of creditor insurance linked to credit cards in South Africa, 2015: provision rate, operating models and weighted provider share of partnerships 19
Unweighted risk coverage of creditor insurance policies in South Africa, segmented by type of underlying product, 2015 20
Weighted risk coverage of creditor insurance policies in South Africa, segmented by type of underlying product, 2015 21
Creditor insurance gross written premiums in South Africa, segmented by policy type, 2011, 2015 and 2019 (forecast) 24
Creditor insurance gross written premiums in South Africa, segmented by cover type, 2011, 2015 and 2019 (forecast) 26
Creditor insurance gross written premiums in South Africa, segmented by policy and cover type, 2011 and 2015 (table) 27
(forecast) 27
Creditor insurance gross written premiums in South Africa, segmented by policy and cover type, 2015 and 2019 (table) (forecast) 27

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Governance, Risk and Compliance – The Brazilian Insurance Industry

Governance, Risk and Compliance – The Brazilian Insurance Industry

  • $ 950
  • Industry report
  • November 2016
  • by Timetric

Synopsis Timetric’s 'Governance, Risk and Compliance – The Brazilian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Brazil. It provides detailed ...

International Risk & Payment Review (Online)

International Risk & Payment Review (Online)

  • $ 1600
  • Industry report
  • October 2016
  • by Dun and Bradstreet (Altares)

International Risk & Payment Review The International Risk & Payment Review is an invaluable monitoring tool providing detailed country assessment, which facilitates the management of ongoing business ...

Personal Accident and Health Insurance in Brazil, Key Trends and Opportunities to 2020

Personal Accident and Health Insurance in Brazil, Key Trends and Opportunities to 2020

  • $ 1450
  • Industry report
  • September 2016
  • by Timetric

Synopsis Timetric’s 'Personal Accident and Health Insurance in Brazil Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Brazilian life insurance segment, ...


ref:plp2016

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.