Finaccord's report titled Card Protection Metrics: Consumer Approaches to Card Protection Insurance in Europe offers unique and detailed insights into the behaviour of cardholders in the context of card protection insurance. Based on a primary survey of over 6,000 consumers in France, Germany, Italy, Poland, Spain and the UK carried out in the second half of 2012, the research provides valuable data describing the extent to which consumers with debit and / or credit cards take out card protection insurance.

In addition to calculating the percentage of cardholders holding card protection insurance in each country, the investigation also analyses the types of policy that they hold (i.e. insurance that they are paying for separately or 'free' cover), the range of features and services that they believe that their insurance includes, and the distribution channels and interfaces used to take out card protection insurance paid for separately.

Finally, the report measures the extent to which respondents with card protection insurance actually use their policy to make a claim or call for assistance, thereby calculating the implied annual ratio of usage to total policies in force.

Key features of this report include:

- robust analyses showing the percentage of cardholders that acquire card protection insurance in each country, the potential for this proportion to grow further and how cross-selling rates differ between debit and credit cards;

- the key segmentation of insured respondents between those that report acquiring their card protection policy at no additional cost (i.e. bundled with an added value account or payment card) and those making a separate payment for it;

- unique data describing the proportion of cardholders in each country stating that their insurance provides them with particular features and services, including whether it covers all of their own cards plus those of other family members;

- accurate statistics illustrating the extent to which sales of card protection insurance are made through remote interfaces (i.e. internet, telephone and post) as well as through face-to-face contact;- reliable information displaying how many insured cardholders in each country actually use their policy each year and, among those that do, whether they do so once, twice or three or more times.

Table Of Contents


0.0 EXECUTIVE SUMMARY

Acquisition rates for card protection insurance are highest in France by both main measures

Insurance penetration tends to increase with rising age and annual household income

Cardholders with both debit and credit cards are most likely to hold card protection insurance

Over 50% of policies reportedly cover multiple cards

As a six-country average, the three competing distribution channels have roughly equal importance

Online sales of card protection insurance have advanced furthest in Germany, Italy and the UK

Average annual policy utilisation rates stand at around one in seven customers



1.0 INTRODUCTION

What is this report about?

Rationale

European consumer research

Other international research reports



2.0 EUROPEAN OVERVIEW

Introduction

Uptake of payment cards

Uptake of payment cards

Respondents in the UK are most likely to hold both debit and credit cards…

…while holdings of credit cards only and debit cards only are highest in France and Poland, respectively

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

As a six-country average, close to 30% of cardholders have card protection cover of one sort or another…

… although penetration rates vary significantly both between countries…

… and between 'free' insurance and insurance that respondents are paying for separately

Segmentation by type of payment card held

Those with both debit and credit cards are generally most likely to have card protection insurance

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance rises with increasing age and annual household income…

… although not much difference is apparent between male and female respondents

Features and services of card protection insurance

Reported frequency of availability

Features and services included within card protection insurance can vary substantially by country…

… albeit much depends upon the perception of consumers with regards to what they are covered for

Number and ownership of cards covered

On average, just under 50% of insured respondents have insurance that covers one payment card only…

… with policies in Poland seeming most likely to cover multiple cards and cardholders

Distribution of card protection insurance

Distribution channels and interfaces

As a six-country average, sales split quite evenly across the three possible distribution channels

Respondents in France are most likely to buy card protection insurance in a face-to-face setting…

… with distribution interfaces having diversified to the greatest extent in the UK

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance

On average, around one in seven insured cardholders use their policy in any given year…

… with utilisation rates reaching high and low points in Italy and Poland, respectively



3.0 France

Uptake of payment cards

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



4.0 GERMANY

Uptake of payment cards

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



5.0 ITALY

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



6.0 POLAND

Uptake of payment cards

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



7.0 SPAIN

Uptake of payment cards

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces 1

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



8.0 UK

Uptake of payment cards

Overview

Segmentation by age group, annual household income, employment status and gender

Uptake of card protection insurance

Policies acquired at no additional cost and policies paid for separately

Segmentation by type of payment card held

Segmentation by age group, annual household income, employment status and gender

Features and services of card protection insurance

Reported frequency of availability

Number and ownership of cards covered

Distribution of card protection insurance

Distribution channels and interfaces

Cross-tabulation of distribution channels and interfaces

Usage of card protection insurance

Frequency of usage to make claims or to call for assistance



9.0 APPENDIX

Research sample statistics

Research structure



LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

2.0 EUROPEAN OVERVIEW

Proportion of respondents with debit and / or credit cards: six European countries, 2012

Proportion of respondents with debit and / or credit cards: six European countries, 2012 (table)

Proportion of cardholders in six European countries with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in six European countries with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012 (table)

Proportion of cardholders in six European countries with card protection insurance acquired at no additional cost segmented by type of payment card(s) held, 2012

Proportion of cardholders in six European countries with card protection insurance paid for separately segmented by type of payment card(s) held, 2012

Proportion of cardholders in six European countries with card protection insurance segmented by type of payment card(s) held, 2012 (table)

Proportion of cardholders across six European countries with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance across six European countries, 2012

Reported frequency of availability of features and services of card protection insurance: six European countries, 2012 (table)

Segmentation of number and ownership of cards covered by card protection insurance: six European countries, 2012

Segmentation of number and ownership of cards covered by card protection insurance: six European countries, 2012 (table)

Distribution channels used to acquire card protection insurance paid for separately: six European countries, 2012

Distribution channels used to acquire card protection insurance paid for separately: six European countries, 2012 (table)

Distribution interfaces used for card protection insurance paid for separately: six European countries, 2012

Distribution interfaces used for card protection insurance paid for separately: six European countries, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in six European countries, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in six European countries, 2012 (table)

3.0 France

Proportion of respondents with debit and / or credit cards in France, 2012

Proportion of respondents with debit and / or credit cards in France, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in France, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in France, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in France with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in France with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in France with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in France, 2012

Segmentation of number and ownership of cards covered by card protection insurance in France, 2012

Distribution channels used to acquire card protection insurance paid for separately in France, 2012

Distribution interfaces used for card protection insurance paid for separately in France, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in France, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in France, 2012

4.0 GERMANY

Proportion of respondents with debit and / or credit cards in Germany, 2012

Proportion of respondents with debit and / or credit cards in Germany, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in Germany, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in Germany, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in Germany with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in Germany with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in Germany with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in Germany, 2012

Segmentation of number and ownership of cards covered by card protection insurance in Germany, 2012

Distribution channels used to acquire card protection insurance paid for separately in Germany, 2012

Distribution interfaces used for card protection insurance paid for separately in Germany, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in Germany, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in Germany, 2012

5.0 ITALY

Proportion of respondents with debit and / or credit cards in Italy, 2012

Proportion of respondents with debit and / or credit cards in Italy, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in Italy, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in Italy, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in Italy with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in Italy with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in Italy with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in Italy, 2012

Segmentation of number and ownership of cards covered by card protection insurance in Italy, 2012

Distribution channels used to acquire card protection insurance paid for separately in Italy, 2012

Distribution interfaces used for card protection insurance paid for separately in Italy, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in Italy, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in Italy, 2012

6.0 POLAND

Proportion of respondents with debit and / or credit cards in Poland, 2012

Proportion of respondents with debit and / or credit cards in Poland, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in Poland, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in Poland, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in Poland with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in Poland with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in Poland with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in Poland, 2012

Segmentation of number and ownership of cards covered by card protection insurance in Poland, 2012

Distribution channels used to acquire card protection insurance paid for separately in Poland, 2012

Distribution interfaces used for card protection insurance paid for separately in Poland, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in Poland, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in Poland, 2012

7.0 SPAIN

Proportion of respondents with debit and / or credit cards in Spain, 2012

Proportion of respondents with debit and / or credit cards in Spain, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in Spain, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in Spain, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in Spain with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in Spain with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in Spain with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in Spain, 2012

Segmentation of number and ownership of cards covered by card protection insurance in Spain, 2012

Distribution channels used to acquire card protection insurance paid for separately in Spain, 2012

Distribution interfaces used for card protection insurance paid for separately in Spain, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in Spain, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in Spain, 2012

8.0 UK

Proportion of respondents with debit and / or credit cards in the UK, 2012

Proportion of respondents with debit and / or credit cards in the UK, segmented by age and annual household income, 2012

Proportion of respondents with debit and / or credit cards in the UK, segmented by employment status and gender, 2012

Proportion of respondents with debit and / or credit cards in the UK, segmented by age, annual household income, employment status and gender, 2012 (table)

Proportion of cardholders in the UK with card protection insurance segmented between policies acquired at no additional cost and policies paid for separately, 2012

Proportion of cardholders in the UK with card protection insurance segmented by type of payment card(s) held, 2012

Proportion of cardholders in the UK with card protection insurance segmented by age, annual household income, employment status and gender, 2012

Reported frequency of availability of features and services of card protection insurance in the UK, 2012

Segmentation of number and ownership of cards covered by card protection insurance in the UK, 2012

Distribution channels used to acquire card protection insurance paid for separately in the UK, 2012

Distribution interfaces used for card protection insurance paid for separately in the UK, 2012

Cross-tabulation of distribution channels and interfaces used for card protection insurance paid for separately in the UK, 2012

Frequency of usage of card protection insurance to make claims or to call for assistance in the UK, 2012

9.0 APPENDIX

European survey sample, segmented by age group and by annual household income band

European survey sample, segmented by employment status and gender

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