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Creditor Insurance in Poland

  • April 2014
  • -
  • Finaccord
  • -
  • 25 pages

Finaccord’s report titled Creditor Insurance in Poland offers uniquely detailed insights into the market for creditor insurance, sometimes also referred to as payment protection insurance or loan-related insurance, as acquired by individual borrowers in Poland. Drawing on the results of a survey of 47 lending institutions, the study analyses the distribution of creditor insurance by banks and other lending institutions, how provision rates vary for different lending products, operating models used for arranging creditor insurance, and distribution partnerships weighted by the size of distributors. The PartnerBASE™ dataset that accompanies the report details each of close to 100 creditor insurance distribution deals traced by Finaccord. In short, this study will provide you with the definitive guide to current and future opportunities in creditor insurance in Poland.

Key features of this study and the PartnerBASE™ dataset and market data annexe that accompany it include:

- quantification of creditor insurance market size and growth with a timeline from 2009 to 2013 and onwards to 2017: how much is this market really worth in Poland and what is its future development potential?

- segmentation of this market both by underlying loan type (differentiating between mortgages, point-of-sale automotive finance, other consumer finance and credit card loans) and by type of cover (differentiating between cover for death / permanent disability and temporary incapacity / unemployment);

- consideration of operating models used for creditor insurance: how advanced is the use of captive and joint venture underwriters by lending institutions in Poland?

- calculation of weighted provider share of partnerships: Finaccord’s unique quantitative analysis helps to identify which underwriters of creditor insurance hold the relationships that offer the most potential;

- investigation into alternative distribution channels for selling creditor insurance: a number of factors, including regulatory intervention, could increase the potential for entities other than the lending institutions themselves to sell creditor insurance in Poland.

Table Of Contents

Creditor Insurance in Poland
Table of Contents

Executive Summary

Introduction

Market Analysis

List of Graphics / Tables





0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

What is this report about?

This report provides a comprehensive analysis of loan-related insurance policies in Poland

Rationale

The report tracks 97 separate initiatives for marketing creditor insurance through lending institutions

Methodology

Survey of banks and other lending institutions

Market data

Definitions

Creditor insurance

Mortgages, consumer finance and credit cards

Weighted provider share of partnerships

Operating models

Abbreviations and exchange rates

PartnerBASEâ„¢ and market data annexe

Finaccord



2.0 MARKET ANALYSIS

Banks and other lending institutions covered

Introduction to the banking sector

Seven of the top ten banking institutions by retail customers are owned by foreign parents

The Polish government has significantly decreased its stake in PKO Bank Polski

The banking market stands out as the largest and most rapidly growing in Central and Eastern Europe...

.. and has been characterised by significant merger and acquisition activity in recent years

Consumer lending market size and growth

Mortgage lending

Polish home loans grew at a nominal compound annual rate of 11.6% between 2009 and 2013

Non-mortgage lending

The value of total non-mortgage consumer lending fallen back slightly in recent years

Credit and other pay later cards

The number of credit cards in circulation has declined rapidly in recent years for two main reasons

Creditor insurance provision rates, operating models and partnerships

Creditor insurance linked to mortgages

A wide range of operating models is used to source mortgage-related creditor insurance in Poland

The distribution partnerships of Europa make it the most prominent provider in this sector...

... with PZU and ERGO Hestia ranked second and third respectively

Six captive underwriters are active in this market

Creditor insurance linked to consumer finance

Virtually all providers of consumer finance offer a related creditor insurance policy

ERGO Hestia, Europa and Cardif are likely to be market leaders in this arena...

... although there are more than 30 underwriters active in it overall

Creditor insurance linked to credit cards

Credit card payment protection insurance is commonly marketed by card issuers in Poland

ERGO Hestia again claims the highest weighted share of partnerships in this field...

... with most other partnerships replicating those already observed for consumer finance

Creditor insurance risk coverage

In all segments, well over a half of policies analysed also cover temporary incapacity and unemployment

Alternative distribution channels

Some insurance companies (and agents) promote creditor insurance directly to their customers

Creditor insurance market size, growth and forecast

The market is growing, especially in the mortgage and point-of-sale automotive finance segments...

... although credit card payment protection insurance is likely to be stagnant

In December 2013, the KFN published several recommendations regarding creditor insurance...

... which could have a significant impact on the future size and structure of this market




LIST OF GRAPHICS / TABLES


TABLE OF CONTENTS

0.0 EXECUTIVE SUMMARY

Creditor insurance gross written premiums in Poland, segmented by policy and cover type, 2009, 2013 and 2017

1.0 INTRODUCTION

Banks and other lending institutions in Poland contacted by Finaccord, segmented by type

2.0 MARKET ANALYSIS

Residential mortgage lending balances outstanding in Poland (absolute and per capita), 2009 to 2013

Consumer non-mortgage lending balances outstanding in Poland (absolute and per capita), 2009 to 2013

Credit and other pay later cards issued and per capita in Poland, 2009 to 2013

Key data points for the consumer lending market in Poland, 2009 to 2013

Provision of creditor insurance linked to mortgages in Poland, 2014: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to consumer finance in Poland, 2014: provision rate, operating models and weighted provider share of partnerships

Provision of creditor insurance linked to credit cards in Poland, 2014: provision rate, operating models and weighted provider share of partnerships

Risk coverage of creditor insurance policies in Poland, segmented by type of underlying product, 2014

Creditor insurance gross written premiums in Poland, segmented by policy type, 2009, 2013 and 2017

Creditor insurance gross written premiums in Poland, segmented by cover type, 2009, 2013 and 2017

Creditor insurance gross written premiums in Poland, segmented by policy and cover type, 2009, 2013 and 2017

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