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Finaccord's report titled Affinity and Partnership Marketing in UK Accident and Health Insurance represents the most detailed research ever undertaken on this sector. Drawing on the results of a survey of 2,555 organisations, the report analyses the penetration, operating models and provider share of relationships of affinity and partnership marketing schemes for accident insurance, private medical insurance, health / hospital cash plans and dental insurance.

These include: charities; friendly societies; internet, media and telecoms entities; insurers (tied / multi-tied intermediaries); lifestyle organisations; online aggregators and brokers; professional associations; retailers; trade associations; and trade unions. Moreover, the PartnerBASE™ database that accompanies the report provides the granular detail behind the analysis, detailing each of well over 500 affinity and partnership marketing initiatives traced by Finaccord in these sectors.

Table Of Contents

Affinity and Partnership Marketing in UK Accident and Health Insurance
Table of Contents

Executive Summary

Introduction

Market Overview

Non-for-Profit Affinity Partners

Financial Partners

Commercial Partners

List of Graphics / Tables



0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

Background

Rationale

Affinity and partnership marketing remains an important, strategic topic for financial institutions...

... as the ability of affinity and corporate partners to compete effectively has evolved over time

Methodology

Organisations investigated

Finaccord's research covers a total of 2,555 actual and potential partner organisations...

... representing virtually all entities that could be significant in this field

Calculation of weighted provider share of partnerships

Finaccord's methodology identifies providers that are likely to hold the most valuable relationships...

... by means of formulae that take into account not only UK traffic rankings for organisations' websites...

... but also distribution shares for each financial product or service by organisation category...

... and the total number of organisations in each category that actually distribute the product

Definitions

Financial products

Operating models

PartnerBASE syntax

Finaccord

UK affinity and partnership marketing publications

UK consumer research publications

2.0 MARKET OVERVIEW

Affinities and partnerships in UK accident and health insurance

Accident insurance

Finaccord's research identifies over 160 schemes for accident insurance involving an external partner...

... with most attributable to the categories of sports organisations and trade associations

Around 70% of affinity schemes for accident cover are organised through an external broker

Three providers of accident insurance feature in both the weighted and unweighted analysis…

… namely Axiom Underwriting, Cigna and UIB

HMCA has grown its annual turnover by over 15% since 2010

Perkins Slade is a significant competitor in the market for sport-related accident insurance

Private medical insurance

Over 180 affinity partners distribute private medical cover in association with external providers...

... with at least one initiative traced in 16 of the 29 categories considered

Over 40 schemes are based around a direct relationship with a single external underwriter

The weighted analysis indicates that AXA PPP may hold the most valuable deals for private medical cover

Bupa and Vitality Health are two other providers that feature in both the unweighted and weighted analyses

Health / hospital cash plans

Affinity schemes are spread across 14 different distributor categories…

… and are most commonly set up with a single, external underwriter via an external intermediary

By outright number of partnerships, HMCA and Private Health Partnership are the leaders…

… although BHSF leads the field in the weighted analysis

Dental insurance

50 of 88 non-internal schemes for dental insurance are promoted via trade associations

Initiatives in this realm are most commonly organised in partnership with a single, external broker

A total of 20 companies are active as providers of dental cover in one form or another...

... with Dencover and Healix Insurance Services achieving prominence in the weighted analysis

3.0 NOT-FOR-PROFIT AFFINITY PARTNERS

Charities

Introduction

The websites of Age UK and the RSPB attract particularly high UK-based traffic

Analysis of partnerships

Epilepsy Action is one of two charities (out of 110) with a scheme for accident insurance

The Insurance Surgery sells private medical cover through several charities…

... and is joined by BHSF in the field of health and hospital cash plans

Just one charity has a scheme for dental insurance

Lifestyle organisations

Introduction

The category of lifestyle organisations embraces a diverse range of entities

Analysis of partnerships

Four schemes for accident insurance are visible among lifestyle organisations

CS Healthcare distributes private medical cover via two entities classifiable as lifestyle organisations…

... although only the Retired Staff Association offers dental insurance to its members

Professional associations

Introduction

The combined membership of professional associations comes to just under 4 million

Analysis of partnerships

All programs for accident insurance sold by professional associations are set up via brokers...

... with the duo of HMCA and Axiom Underwriting claiming by far the highest number of partnerships…

... and Lockton the only other provider with more than two

More than a third of professional associations have organised a scheme for private medical insurance

Parliament Hill runs member benefit schemes on behalf of numerous professional associations...

... making it the dominant provider in this sector by both unweighted and weighted share

HMCA also holds a significant number of partnerships in this arena...

... although it is overtaken by Bupa and Jobson James in weighted terms

Four other providers of private medical cover are involved in deals either directly or indirectly

16 professional associations promote health or hospital cash plans to their members...

… including the Institute of Directors in partnership with Westfield Health

Dental insurance is the form of accident or health cover least often promoted via professional associations

Sports organisations

Introduction

This category includes bodies to which individual sports clubs, practitioners and trainers may belong

Analysis of partnerships

Well over a half of sports organisations centrally organise accident cover on behalf of their members

Perkins Slade holds the highest number of partnerships for accident cover with sports organisations...

... although there are over 20 providers competing for mandates in this arena

Bluefin and ACE together hold the partnership driving their high weighted share of partnerships

HMCA accounts for five out of nine deals for selling private medical cover through sports organisations…

... and works with the same entities for both dental cover and health / hospital cash plans

Trade associations

Introduction

Finaccord has extended its coverage in this category to over 700 associations

Analysis of partnerships

Over 50 trade associations have a scheme in place for accident insurance

Accident cover forms a component of the benefits package offered by HMCA to 16 trade associations...

... and a further five providers were found to be involved in three or more initiatives each...

... with the remainder spread thinly across over 50 other brokers and underwriters

70 trade associations intermediate private medical cover...

... with Private Health Partnership and HMCA identifiable as the dominant providers...

... in a field numbering over 20 competitors in total including Bupa and Simplyhealth

Private Health Partnership was acquired by Punter Southall Group in July 2014

Schemes for health and hospital cash plans are also comparatively numerous

HMCA, Private Health Partnership and Simplyhealth are also prominent in this domain

Bupa, Westfield Health and WPA are other providers with more than one partnership

The picture for dental insurance is largely comparable to that for health / hospital cash plans…

… albeit AXA PPP, Denplan and National Dental Plan provide additional competition

Trade unions

Introduction

There are over 6 million trade union members in the UK

Analysis of partnerships

Over a quarter of trade unions have established a distribution partnership for accident insurance

Working with Cigna, UIB is the most prolific and visible provider of accident cover to trade unions…

… albeit Hencilla Canworth is strong among unions with members involved in performing arts

The rate of provision for private medical insurance is much lower than that for accident insurance...

... although it rises a little for health and hospital cash plans 86 Seven providers lay claim to at least one trade union relationship for this product...

... with a key deal held by Protego and its partner, Bolton and District Hospital Saturday Council

Protego also controls three out of five trade union distribution partnerships for dental cover

Universities

Introduction

The Open University's website attracts more UK traffic than that of any other UK-based university

Analysis of partnerships

Four universities maintain a facility for alumni or current students to acquire private medical insurance…

… with ten different product providers involved in the distribution chain

4.0 FINANCIAL PARTNERS

Friendly societies

Introduction

Finaccord's research covers 25 of the larger friendly societies in the UK...

... among which Liverpool Victoria (LV=) is by far the largest

Analysis of partnerships

Few friendly societies are distributors of private medical cover…

… albeit the provision rate rises slightly in the case of health and hospital cash plans

Insurers (tied / multi-tied intermediaries)

Introduction

Over 50 branded intermediaries effectively act as tied or multi-tied agents for insurance products…

… meaning that they also constitute a partnership marketing opportunity

Analysis of partnerships

A handful of entities in this sub-category distribute accident insurance, all via a single, external underwriter

Scottish Friendly holds two deals that make it leader by weighted share of partnerships

More schemes for private medical cover are in evidence than for accident insurance

ActiveQuote's partnership with Tiger.co.uk endows it with the highest weighted share of partnerships

Three entities in this category distribute health or hospital cash plans, two via external underwriters…

… while four promote dental insurance

Insurers (underwriters)

Introduction

Over 80 insurance underwriting brands can be broken down into three main sub-categories

Sometimes, insurance underwriting brands distribute the policies of other underwriters or brokers

Analysis of partnerships

Most insurance brands that offer accident insurance underwrite their own policies internally...

... although more are in evidence for private medical insurance…

… including that between Prudential and Vitality Health whose classification changed in November 2014

BHSF claims the key relationship in this category for health / hospital cash plans…

… while Simplyhealth is most prominent for dental insurance, partly through its ownership of Denplan

Online aggregators and brokers

Introduction

The market for online aggregation and broking has become more concentrated in recent years...

... as a result of a number of factors including the challenge thrown up by cashback websites

Analysis of partnerships

Four entities in this category distribute stand-alone accident insurance...

... although nearly five times as many maintain an interest in selling private medical cover...

... benefiting ActiveQuote, the category leader in both unweighted and weighted terms

The enthusiasm of online aggregators and brokers diminishes for both health / hospital cash plans...

... and dental cover

Specialised lenders

Introduction

The category of specialised lenders includes a variety of different types of institution...

... with many new competitors having emerged in the wake of the 'credit crunch'

Analysis of partnerships

Two deals are visible for specialised accident cover, both underwritten by the same insurance provider

Aetna has secured one major affinity distribution partner for international health insurance plans

5.0 COMMERCIAL PARTNERS

Automotive associations

Introduction

In addition to the AA and RAC, nine other organisations fall within this partner category

Analysis of partnerships

Cigna's partnership with the RAC for accident cover makes it the dominant provider in weighted terms…

… while AXA PPP leads the way in private medical insurance thanks to its link with the AA…

… and HMCA for other types of health insurance cover as a result of one relationship in this field

Coalition loyalty schemes and frequent flyer programs

Introduction

Among qualifying entities, Nectar's website attracts the most UK-based online traffic

Analysis of partnerships

Vitality Health holds a potentially valuable partnership in this sphere

Estate agency and property service firms

Introduction

This category includes prominent online estate agency and property portals as well as traditional chains

Analysis of partnerships

Zoopla intermediates private medical insurance policies as a peripheral element of its proposition

Internet, media and telecoms entities

Introduction

This category embraces many organisations with extremely high UK website rankings...

... which can have a substantial impact on the analysis of weighted partnership shares

Analysis of partnerships

Four operating models are used by organisations in this category offering private medical cover

When viewed in weighted terms, AXA PPP appears to hold partnerships offering the most potential

ActiveQuote is the only provider to hold a partnership in this category for health or hospital cash plans

Retailers

Introduction

The research focuses on 80 of the retailer brands with most potential to offer insurance products

Analysis of partnerships

One major retail brand promotes both private medical insurance and health / hospital cash plans…

… and is joined by another in the case of dental insurance

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

The affinity and partnership marketing universe

Organisations investigated, segmented by broad category

2.0 MARKET OVERVIEW

Affinity and partnership marketing schemes for accident insurance in the UK: provision rate by category of partner

Affinity and partnership marketing schemes for accident insurance in the UK: operating models

Affinity and partnership marketing schemes for accident insurance in the UK: unweighted and weighted provider share of partnerships

Affinity and partnership marketing schemes for private medical insurance in the UK: provision rate by category of partner

Affinity and partnership marketing schemes for private medical insurance in the UK: operating models

Affinity and partnership marketing schemes for private medical insurance in the UK: unweighted and weighted provider share of partnerships

Affinity and partnership marketing schemes for health / hospital cash plans in the UK: provision rate by category of partner

Affinity and partnership marketing schemes for health / hospital cash plans in the UK: operating models

Affinity and partnership marketing schemes for health / hospital cash plans in the UK: unweighted and weighted provider share of partnerships

Affinity and partnership marketing schemes for dental insurance in the UK: provision rate by category of partner

Affinity and partnership marketing schemes for dental insurance in the UK: operating models

Affinity and partnership marketing schemes for dental insurance in the UK: unweighted and weighted provider share of partnerships

3.0 NOT-FOR-PROFIT AFFINITY PARTNERS

Charities offering accident insurance: provision rates and operating models

Charities offering accident insurance: unweighted and weighted provider share of partnerships

Charities offering private medical insurance: provision rates and operating models

Charities offering private medical insurance: unweighted and weighted provider share of partnerships

Charities offering health / hospital cash plans: provision rates and operating models

Charities offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Charities offering dental insurance: provision rates and operating models

Lifestyle organisations offering accident insurance: provision rates and operating models

Lifestyle organisations offering accident insurance: unweighted and weighted provider share of partnerships

Lifestyle organisations offering private medical insurance: provision rates and operating models

Lifestyle organisations offering private medical insurance: unweighted and weighted provider share of partnerships

Lifestyle organisations offering dental insurance: provision rates and operating models

Top 40 professional associations in the UK ranked by member numbers, 2015 (table)

Professional associations offering accident insurance: provision rates and operating models

Professional associations offering accident insurance: unweighted and weighted provider share of partnerships

Professional associations offering private medical insurance: provision rates and operating models

Professional associations offering private medical insurance: unweighted and weighted provider share of partnerships

Professional associations offering health / hospital cash plans: provision rates and operating models

Professional associations offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Professional associations offering dental insurance: provision rates and operating models

Professional associations offering dental insurance: unweighted and weighted provider share of partnerships

Sports organisations offering accident insurance: provision rates and operating models

Sports organisations offering accident insurance: unweighted and weighted provider share of partnerships

Sports organisations offering private medical insurance: provision rates and operating models

Sports organisations offering private medical insurance: unweighted and weighted provider share of partnerships

Sports organisations offering health / hospital cash plans and dental insurance: provision rates and operating models

Top 80 trade associations in the UK ranked by member numbers, 2015 (table)

Top 80 trade associations in the UK ranked by member numbers, 2015 (table) (continued)

Trade associations offering accident insurance: provision rates and operating models

Trade associations offering accident insurance: unweighted and weighted provider share of partnerships

Trade associations offering private medical insurance: provision rates and operating models

Trade associations offering private medical insurance: unweighted and weighted provider share of partnerships

Trade associations offering health / hospital cash plans: provision rates and operating models

Trade associations offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Trade associations offering dental insurance: provision rates and operating models

Trade associations offering dental insurance: unweighted and weighted provider share of partnerships

Top 40 trade unions in the UK ranked by member numbers, 2015 (table)

Trade unions offering accident insurance: provision rates and operating models

Trade unions offering accident insurance: unweighted and weighted provider share of partnerships

Trade unions offering private medical insurance: provision rates and operating models

Trade unions offering private medical insurance: unweighted and weighted provider share of partnerships

Trade unions offering health / hospital cash plans: provision rates and operating models

Trade unions offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Trade unions offering dental insurance: provision rates and operating models

Trade unions offering dental insurance: unweighted and weighted provider share of partnerships

Universities offering private medical insurance: provision rates and operating models

Universities offering private medical insurance: unweighted and weighted provider share of partnerships

4.0 FINANCIAL PARTNERS

Friendly societies offering private medical insurance: provision rates and operating models

Friendly societies offering health / hospital cash plans: provision rates and operating models

Insurers (tied / multi-tied intermediaries) offering accident insurance: provision rates and operating models

Insurers (tied / multi-tied intermediaries) offering accident insurance: unweighted and weighted provider share of partnerships

Insurers (tied / multi-tied intermediaries) offering private medical insurance: provision rates and operating models

Insurers (tied / multi-tied intermediaries) offering private medical insurance: unweighted and weighted provider share of partnerships

Insurers (tied / multi-tied intermediaries) offering health / hospital cash plans: provision rates and operating models

Insurers (tied / multi-tied intermediaries) offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Insurers (tied / multi-tied intermediaries) offering dental insurance: provision rates and operating models

Insurers (tied / multi-tied intermediaries) offering dental insurance: unweighted and weighted provider share of partnerships

Insurers (underwriters) offering accident insurance: provision rates and operating models

Insurers (underwriters) offering private medical insurance: provision rates and operating models

Insurers (underwriters) offering private medical insurance: unweighted and weighted provider share of partnerships

Insurers (underwriters) offering health / hospital cash plans: provision rates and operating models

Insurers (underwriters) offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Insurers (underwriters) offering dental insurance: provision rates and operating models

Insurers (underwriters) offering dental insurance: unweighted and weighted provider share of partnerships

Online aggregators and brokers offering accident insurance: provision rates and operating models

Online aggregators and brokers offering private medical insurance: provision rates and operating models

Online aggregators and brokers offering private medical insurance: unweighted and weighted provider share of partnerships

Online aggregators and brokers offering health / hospital cash plans: provision rates and operating models

Online aggregators and brokers offering health / hospital cash plans: unweighted and weighted provider share of partnerships

Online aggregators and brokers offering dental insurance: provision rates and operating models

Online aggregators and brokers offering dental insurance: unweighted and weighted provider share of partnerships

Specialised lenders offering accident insurance: provision rates and operating models

Specialised lenders offering health / hospital cash plans: provision rates and operating models

5.0 COMMERCIAL PARTNERS

Automotive associations offering accident insurance: provision rates and operating models

Automotive associations offering accident insurance: unweighted and weighted provider share of partnerships

Automotive associations offering private medical insurance: provision rates and operating models

Automotive associations offering private medical insurance: unweighted and weighted provider share of partnerships

Automotive associations offering health / hospital cash plans / dental insurance: provision rates and operating models

Coalition loyalty schemes and frequent flyer programs offering private medical insurance: provision rates and operating models

Estate agency and property service firms offering private medical insurance: provision rates and operating models

Internet, media and telecoms entities offering private medical insurance: provision rates and operating models

Internet, media and telecoms entities offering private medical insurance: unweighted and weighted provider share of partnerships

Internet, media and telecoms entities offering health / hospital cash plans: provision rates and operating models

Retailers offering private medical insurance and health / hospital cash plans: provision rates and operating models

Retailers offering dental insurance: provision rates and operating models

Retailers offering dental insurance: unweighted and weighted provider share of partnerships

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