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  4. > Home Emergency Insurance and Assistance in Austria

Home Emergency Insurance and Assistance in Austria

  • June 2014
  • -
  • Finaccord
  • -
  • 26 pages

Home Emergency Insurance and Assistance in Austria is a report plus an associated PartnerBASE™ dataset and market data file about the market for this type of cover in Austria. In essence, the term ‘home emergency insurance and assistance’ encompasses policies that are sold on a stand-alone basis, or bundled with utility services, household insurance or banking products, that cover one or more of the following home-related problems:

- malfunctioning of gas boilers, gas supply pipes or gas central heating;
- problems with plumbing, drainage or water supply pipes;
- electrical emergencies or breakdowns.

Key features of this report include:

- quantification of the market size for home emergency insurance and assistance in Austria: how much is the market worth, how does it break down by policy type, and how is it likely to have grown by 2017?

- identification of providers of home emergency insurance and assistance that have established relationships with energy firms, water companies and household insurers and calculation of their share of partnerships in both unweighted and weighted terms;

- analysis of the degree to which home emergency cover is provided automatically or cross-sold as an optional extra - this can have a very significant impact on household penetration rates and market values in any given country, including Austria;

- assessment of the potential for marketing home emergency insurance and assistance through alternative channels including online aggregators and brokers, other online brands and banking products as well as gas boiler manufacturers, direct sales and automotive clubs.

Types of organisation that may be able to use this report, plus the PartnerBASE™ dataset and market data file that accompanies it, include entities in the following categories:

- assistance companies: this study constitutes a unique guide to an under-researched yet significant and continually evolving market - be fully appraised of what growth could mean for your organisation;

- insurance companies: as a concept that can be made distinct from regular household insurance, home emergency insurance and assistance can either be sold stand-alone or packaged within household insurance policies;

- electricity, gas and water companies: growth in the market for home emergency cover, allied to apparently high profit margins, presents a revenue enhancement opportunity for electricity, gas and water companies as well as insurance and assistance firms;

- management consultancies: are you helping an insurance or assistance provider to develop its business in Austria, or are you advising an energy or water firm with regards to how it can improve its profitability? If so, this research will provide you with important insights into the market for home emergency insurance and assistance.

Table Of Contents

Home Emergency Insurance and Assistance in Austria
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ...1
1.0 INTRODUCTION 3
What is this report about?..3
Rationale.3
This report expands Finaccord's previous ground-breaking European coverage of this topic...3
Methodology...4
Primary research.4
The survey includes nearly 50 utility companies and home insurance brands...4
Market data .4
External sources .5
Definitions ...5
Terms and abbreviations5
Operating models ...6
Currencies and inflation..6
PartnerBASE..7
Finaccord7
2.0 MARKET ANALYSIS.8
Introduction.8
Dwelling stock data 8
The number of occupied dwellings in Austria is likely to have passed 4 million in 2013... .8
...and over a half of these are lived in by the owner of the property 8
Distribution through key partner organisations ...10
Summary of organisations researched10
Provision rates ..11
Provision of home emergency cover via energy and water companies is extremely limited11
... albeit the majority of household insurers can arrange home emergency cover for an additional fee ..12
Major underwriters acting in this way include Generali, UNIQA and Wiener Städtische..12
Operating models .15
Three operating models are used by distributors of home emergency cover in Austria...15
... with some simply maintaining their own database of approved tradespersons16
Partnerships with energy companies and water companies..17
Partnerships with household insurance brands ..17
Allianz Global Assistance and Europ Assistance each benefit from both captive and external agreements ..17
Customer Care Solutions and IMA are also active as external providers in this market... ...17
...whilst a number of household insurance brands operate their own home emergency schemes .18
By weighted share of partnerships, Europ Assistance emerges as the likely market leader ...19
Other distribution channels..19
Gas boiler manufacturers.19
Austrian boiler manufacturers typically offer on-going maintenance contracts at a fairly high annual cost .19
Direct sales20
Online aggregators and brokers ..20
Price comparison sites only offer this product as part of regular household insurance policies...20
Other online brands ..20
Payment cards and bank accounts .20
Automotive clubs...20HOME EMERGENCY INSURANCE AND ASSISTANCE IN AUSTRIA
© FINACCORD (05/2014) II
Other types of distributor ..21
Market size, growth and forecast 21
The Austrian market is relatively small but growing well thanks to increases in the housing stock .21
Cover for gas boilers is likely to represent the largest category of home emergency policies .22
The bulk of the Austrian market value is probably composed of gas boiler maintenance plans..23
Home emergency premiums are likely to exceed EUR 100 million by 2017 25HOME EMERGENCY INSURANCE AND ASSISTANCE IN AUSTRIA
© FINACCORD (05/2014) III

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY ...1
Key market data for home emergency insurance in Austria2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS.8
Dwelling stock in Austria, segmented by type of dwelling and by type of occupant, 2013 9
Key metrics regarding dwelling stock in Austria, 2009, 2013 and forecast for 201710
Summary of potential distributor organisations researched in Austria, segmented by type, 2014..11
Provision rates for home emergency insurance in Austria, segmented by type of organisation and by type
of policy, 2014 ..13
Extent to which home emergency insurance schemes in Austria are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 201414
Extent to which home emergency insurance schemes in Austria are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 2014 (table)15
Operating models used for home emergency insurance in Austria, segmented by type of organisation,
2014 ..16
Operating models used for home emergency insurance in Austria, segmented by type of organisation,
2014 (table)...17
Unweighted competitor share of partnerships for home emergency insurance in Austria, 2014: household
insurance brands..18
Weighted competitor share of partnerships for home emergency insurance in Austria, 2014: household
insurance brands..19
Estimated gross written premiums from home emergency insurance in Austria, 2009 and 2013 ..21
Estimated gross written premiums from home emergency insurance in Austria, 2009 and 2013 (table)...22
Estimated number of home emergency insurance policies in Austria, segmented by type of policy, 2013 ...
...23
Estimated gross written premiums from home emergency insurance in Austria, segmented by distribution
channel, 2013...24
Estimated number of policies and gross written premiums for home emergency insurance in Austria,
segmented by type of policy and by distribution channel, 201325
Forecast gross written premiums from home emergency insurance in Austria, 2017.26
Forecast gross written premiums from home emergency insurance in Austria, 2017 (table) .26

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