1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Retailer Insurance and Assistance in North and Latin America

Retailer Insurance and Assistance in North and Latin America is a report about the involvement of major retail brands in Europe in the distribution of stand-alone accident, dental, health, household, life, motor, pet, travel and other insurance, plus assistance products, as part of a growing trend in financial services sometimes referred to as ‘brandassurance’.

Indeed, major retail brands are found to be active in this arena in ten of the 12 countries researched. Namely, these are Argentina, Brazil, Canada, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay and the USA, hence chapters for each of these are included in the publication.

In fact, the study provides a comprehensive and detailed overview of the Americas-wide market for insurance sold to consumers by supermarkets, department stores and other types of retail chain. Moreover, the PartnerBASE™ dataset that accompanies the report details each of the 384 product marketing initiatives traced by Finaccord for the lines of consumer insurance investigated, a figure up from 364 according to the previous research from 2010, including the operating models and insurance providers used.

You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:

- gain rapid access to a unique and comprehensive source of intelligence that provides a perspective on the involvement of major retailers in North and Latin America in the insurance and assistance sector;

- understand which of your competitors have been successful in establishing insurance or assistance distribution partnerships with significant retail brands;

- evaluate the opportunities for creating marketing relationships with different types of retail chain for eight distinct lines of consumer insurance plus other insurance and assistance products;

- learn about the wider context behind the diversification into insurance and assistance of major retail brands and identify retailers already active in financial services that are likely to develop insurance propositions in future;

- use the PartnerBASE™ dataset to filter information about retailer insurance and assistance schemes by country, retailer category, product, provider and other criteria.

Table Of Contents

Retailer Insurance and Assistance in North and Latin America
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
Rationale 3
Retailer financial services can be broken down between ‘traditional' and ‘non-traditional' services 3
Retailers can take advantage of changes in consumer finance and payment card markets 3
Chile and the UK provide successful precedents for retailers interested in selling insurance 3
The evolution of the retailing market itself is also favourable to the integration of financial services 4
Methodology 4
Survey of retailers 4
The survey's scope covers over 1,400 major retail brands drawn from ten categories and 12 countries… 4
… and classified according to their use of offline-only, online-only or mixed distribution models 4
Weighted shares 6
Definitions 6
Insurance and assistance 6
Operating models 7
PartnerBASE 7
Finaccord 8
2.0 REGIONAL OVERVIEW 9
Insurance and assistance 9
Retailer schemes for household, life and motor insurance are most numerous... 9
... followed by those for accident and health insurance 9
The percentage of major retail brands distributing insurance is highest in Chile 10
Department store and variety retail brands are the most likely to offer insurance and assistance… 11
... although the highest number of schemes is due to the category of supermarkets and hypermarkets 11
Most retailer insurance programs are run in conjunction with a single, external partner 13
At a regional level, the supply structure for retailer insurance partnerships is fairly fragmented 15
3.0 ARGENTINA 17
Introduction 17
Insurance and assistance 17
Eight major retail chains in Argentina have launched insurance or assistance products... 17
…with all using external partners (as opposed to captives or joint ventures) in this context 18
Insurance and assistance schemes are most common in the supermarket and hypermarket category 20
4.0 BRAZIL 22
Introduction 22
Insurance and assistance 23
Eight major retail chains in Brazil promote mainstream forms of insurance of the type researched 23
Most insurance distribution partnerships among retailers are organised with a single, external partner... 23
... with OdontoPrev utilised by all that promote dental insurance 24
By weighted share of partnerships, Cardif emerges as a likely leader in retailer insurance 24
Only three retailer categories feature any provision for insurance and assistance products 25
The financial arm of Lojas Riachuelo has amassed a huge number of customers to cross-sell to 27
... while that of Magazine Luiza also exceeds 1 million 27
5.0 CANADA 28
Introduction 28
Insurance and assistance 29
20 major retail chains in Canada promote mainstream forms of insurance of the type researched... 29
... with numerous insurance underwriters and brokers used as providers... 29
... among which Canada Life, Manulife and Western Financial Insurance are prominent in weighted terms 31
Supermarket and hypermarket brands display the greatest enthusiasm for selling insurance 33
Over 2 million customers have acquired financial services from President's Choice Financial 34
Canadian Tire's entire financial services business secures well over CAD 200 million in gross revenues 34
6.0 CHILE 35
Introduction 35
Insurance and assistance 35
Accident, health and life insurance are the policy types most commonly marketed by major retailers 35
All insurance distribution partnerships among retailers are organised with external providers... 36
... albeit schemes are intermediated by captive brokers in at least six cases 37
By weighted share of partnerships, Cardif's share surpasses that held by MetLife 38
Falabella's fast-growing bank provides a basis for cross-selling insurance products 40
Financial services account for around 3% of Cencosud group's total revenues... 40
... and also make a very significant contribution to the revenues of the Ripley group 40
7.0 COLOMBIA 41
Introduction 41
Insurance and assistance 41
Six major retail brands offer insurance or assistance programs in Colombia… 41
…with most schemes sourced from single, external partners 42
Motor insurance is offered most regularly followed by household and life insurance 43
In weighted terms, SURA is ranked second by share of retailer partnerships 44
Insurance and assistance schemes are concentrated in three retailer categories 45
8.0 ECUADOR 47
Introduction 47
Insurance and assistance 47
Orve Hogar is pioneering the concept of retailer insurance in Ecuador... 47
... working with Seguros Cervantes and Ecuasistencia in this sphere 48
10.0 MEXICO 52
Introduction 52
Insurance and assistance 52
13 major retail chains in Mexico promote mainstream forms of insurance of the type researched 52
Most insurance distribution partnerships among retailers are organised with a single, external partner 53
When analysed on a weighted basis, AXA Seguros remains the likely leader in retailer insurance 54
Initiatives in retailer insurance and assistance in Mexico are found in two retailer categories only 55
Banco Azteca has expanded its distribution reach to more than 1,400 branches since launch... 57
... helping both consumer loans outstanding and pre-tax profits to surge in recent years 57
The life insurance arm of Seguros Azteca has achieved impressive growth in premiums in recent years 57
BanCoppel has also experienced a rapid increase in both its loan book and profitability... 57
... although the progress made by Banco Famsa has been slightly less eye-catching... 57
... and Banco Walmart remains loss-making despite strong growth in consumer loans 58
12.0 PERU 59
Introduction 59
Insurance and assistance 59
Health insurance is promoted most often by major retail brands in Peru 59
Most insurance and assistance policies are sourced from external providers 60
Rimac Seguros claims the most partnerships among major retail brands in Peru 61
13.0 URUGUAY 65
Introduction 65
Insurance and assistance 65
MAPFRE has tied with Geant to promote a travel insurance package 65
14.0 USA 68
Introduction 68
Insurance and assistance 69
Eight major retail chains in the US promote mainstream forms of insurance of the type researched... 69
... among which Camping World distributes the widest array of policies 70
eHealth has become an important online distributor for health insurance in the US 71
Speciality retailers are most likely to promote insurance or assistance products 72
15.0 APPENDIX 74
Major captives and joint ventures 74
Several retailers utilise captive or joint venture entities for their insurance activities 74

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1
Major retail brands in Chile, Mexico and Peru are most likely to offer insurance or assistance products ..... 2
1.0 INTRODUCTION 3
Retailers researched in North and Latin America, segmented by category, country and distribution model,
2014 5
2.0 REGIONAL OVERVIEW 9
Retailer insurance and assistance in North and Latin America: provision by policy type, 2014 9
Retailer insurance and assistance in North and Latin America: provision by country, 2014 10
Retailer insurance and assistance in North and Latin America: provision by retailer category and
distribution model, 2014 12
Retailer insurance and assistance in North and Latin America: provision rate and operating models, 2014
13
Retailer insurance and assistance in North and Latin America: operating models by country, 2014 14
Retailer insurance and assistance in North and Latin America: unweighted and weighted provider share of
partnerships, 2014 16
3.0 ARGENTINA 17
Retailer insurance and assistance in Argentina: provision by policy type, 2014 18
Retailer insurance and assistance in Argentina: provision and operating models, 2014 19
Retailer insurance and assistance in Argentina: unweighted and weighted provider share of partnerships,
2014 20
Provision of insurance and assistance by retailer category and distribution model in Argentina, 2014 21
4.0 BRAZIL 22
Retailer insurance and assistance in Brazil: provision by policy type, 2014 23
Retailer insurance and assistance in Brazil: provision and operating models, 2014 24
Retailer insurance and assistance in Brazil: unweighted and weighted provider share of partnerships,
2014 25
Provision of insurance and assistance by retailer category and distribution model in Brazil, 2014 26
5.0 CANADA 28
Retailer insurance and assistance in Canada: provision by policy type, 2014 29
Retailer insurance and assistance in Canada: provision and operating models, 2014 31
Retailer insurance and assistance in Canada: unweighted and weighted provider share of partnerships,
2014 32
Provision of insurance and assistance by retailer category and distribution model in Canada, 2014 33
6.0 CHILE 35
Retailer insurance and assistance in Chile: provision by policy type, 2014 36
Retailer insurance and assistance in Chile: provision and operating models, 2014 37
Retailer insurance and assistance in Chile: unweighted and weighted provider share of partnerships, 2014
38
Provision of insurance and assistance by retailer category and distribution model in Chile, 2014 39
7.0 COLOMBIA 41
Retailer insurance and assistance in Colombia: provision by policy type, 2014 42
Retailer insurance and assistance in Colombia: provision and operating models, 2014 43
Retailer insurance and assistance in Colombia: unweighted and weighted provider share of partnerships,
2014 44
Provision of insurance and assistance by retailer category and distribution model in Colombia, 2014 46
8.0 ECUADOR 47
Retailer insurance and assistance in Ecuador: provision by policy type, 2014 48
Retailer insurance and assistance in Ecuador: provision and operating models, 2014 49
Retailer insurance and assistance in Ecuador: unweighted and weighted provider share of partnerships,
2014 50
Provision of insurance and assistance by retailer category and distribution model in Ecuador, 2014 51
10.0 MEXICO 52
Retailer insurance and assistance in Mexico: provision by policy type, 2014 53
Retailer insurance and assistance in Mexico: provision and operating models, 2014 54
Retailer insurance and assistance in Mexico: unweighted and weighted provider share of partnerships,
2014 55
Provision of insurance and assistance by retailer category and distribution model in Mexico, 2014 . 56
12.0 PERU 59
Retailer insurance and assistance in Peru: provision by policy type, 2014 60
Retailer insurance and assistance in Peru: provision and operating models, 2014 61
Retailer insurance and assistance in Peru: unweighted and weighted provider share of partnerships, 2014
63
Provision of insurance and assistance by retailer category and distribution model in Peru, 2014 64
13.0 URUGUAY 65
Retailer insurance and assistance in Uruguay: provision by policy type, 2014 66
Retailer insurance and assistance in Uruguay: provision and operating models, 2014 66
Provision of insurance and assistance by retailer category and distribution model in Uruguay, 2014 67
14.0 USA 68
Retailer insurance and assistance in the US: provision by policy type, 2014 70
Retailer insurance and assistance in the US: provision and operating models, 2014 71
Retailer insurance and assistance in the US: unweighted and weighted provider share of partnerships,
2014 72
Provision of insurance and assistance by retailer category and distribution model in the US, 2014 . 73
15.0 APPENDIX 74
Retailer captives and joint ventures for insurance and assistance in North and Latin America: countries
active, operating models and ownership, 2014 75

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
Fraud Detection and Prevention Market by Solution, Application Areas, Service, End-User, Vertical - Global Forecast to 2021

Fraud Detection and Prevention Market by Solution, Application Areas, Service, End-User, Vertical - Global Forecast to 2021

  • $ 7150
  • Industry report
  • September 2016
  • by MarketsandMarkets

“Rapid increase in mobile banking will drive the FDP market” The Fraud Detection and Prevention (FDP) market size is estimated to grow from USD 14.36 billion in 2016 to USD 33.19 billion by 2021, at ...

Customer Experience Management Study—Malaysia’s Life Insurance Market, 2015

Customer Experience Management Study—Malaysia’s Life Insurance Market, 2015

  • $ 4950
  • Industry report
  • September 2016
  • by Frost & Sullivan

Benchmarking the Industry Excellence in Delivering Superior Customer Experience Customer experience is the accumulation of customers’ experiences throughout their journey with the supplier, across any ...

Customer Experience Management Study—Malaysia’s Health Insurance Sector 2015

Customer Experience Management Study—Malaysia’s Health Insurance Sector 2015

  • $ 4950
  • Industry report
  • September 2016
  • by Frost & Sullivan

Benchmarking Industry Excellence in Delivering a Superior Customer Experience Customer experience is the accumulation of customers’ experiences throughout their journey with the supplier, across any ...


ref:plp2014

Reportlinker.com © Copyright 2016. All rights reserved.

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