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  4. > Home Emergency Insurance and Assistance in Belgium

Home Emergency Insurance and Assistance in Belgium

  • June 2014
  • -
  • Finaccord
  • -
  • 27 pages

Home Emergency Insurance and Assistance in Belgium is a report plus an associated PartnerBASE™ dataset and market data file about the market for this type of cover in Belgium. 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 Belgium: 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 Belgium;

- 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 Belgium, 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 Belgium
TABLE OF CONTENTS
0.0 EXECUTIVE SUMMARY ...1
1.0 INTRODUCTION 3
What is this report about?..3
Rationale.3
This report updates and expands upon Finaccord's previous ground-breaking research..3
Methodology...4
Primary research.4
The survey includes more than 60 utility companies and home insurance brands 4
Market data .4
External sources .4
Definitions ...5
Terms and abbreviations5
Operating models ...6
Currencies and inflation..6
PartnerBASE..6
Finaccord7
2.0 MARKET ANALYSIS.8
Introduction.8
Dwelling stock data 8
There are around 5 million occupied dwellings in Belgium..8
...and nearly 80% 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
Three of Belgium's energy suppliers offer one or more forms of home emergency cover...12
...whereas water companies register no involvement whatsoever12
The vast majority of household insurers include home emergency cover as a standard policy feature..12
Operating models .15
More than 60% of distributors work with a single external provider for home emergency cover... ..15
...although several household insurance brands make use of their captive assistance firms ..16
Partnerships with energy companies...17
Inter Partner Assistance and Europ Assistance each work with one energy supplier..17
Partnerships with household insurance brands ..18
Allianz Global Assistance claims the highest number of individual partnerships with insurers... .18
... followed by Europ Assistance... ..18
...but Benelux Assist, Inter Partner Assistance and VAB each hold large contracts.18
Weighted competitor share of partnerships with key partner organisations..19
Partnerships with large household insurance brands drive weighted provider share in this market20
Other distribution channels..21
Gas boiler manufacturers.21
Optional cover is only available from a few boiler brands..21
Direct sales21
Some home assistance firms and one energy provider sell directly to the public.21
Online aggregators and brokers ..21
Belgium's aggregators do not offer home emergency cover as a distinct product ...21HOME EMERGENCY INSURANCE AND ASSISTANCE IN BELGIUM
© FINACCORD (04/2014) II
Other online brands ..21
Payment cards and bank accounts .21
Automotive clubs...22
VAB is active as a partner of household insurance brands but does not sell directly to consumers22
Other types of distributor ..22
Market size, growth and forecast 22
In nominal terms, Belgium's home emergency market is growing at almost 4% per year...22
Comprehensive cover accounts for the vast majority of the total number of policies in force..24
In terms of premiums, distribution via household insurers accounts for well over a half of the total 24
Between 2013 and 2017, the compound annual growth rate is likely to moderate somewhat 26HOME EMERGENCY INSURANCE AND ASSISTANCE IN BELGIUM
© FINACCORD (04/2014) III

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY ...1
Key market data for home emergency insurance in Belgium..2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS.8
Dwelling stock in Belgium, segmented by type of dwelling and by type of occupant, 2013 ..9
Key metrics regarding dwelling stock in Belgium, 2009, 2013 and forecast for 2017..10
Summary of potential distributor organisations researched in Belgium, segmented by type, 201311
Provision rates for home emergency insurance in Belgium, segmented by type of organisation and by
type of policy, 2013 ..13
Extent to which home emergency insurance schemes in Belgium are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 201314
Extent to which home emergency insurance schemes in Belgium are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 2013 (table)15
Operating models used for home emergency insurance in Belgium, segmented by type of organisation,
2013 ..16
Operating models used for home emergency insurance in Belgium, segmented by type of organisation,
2013 (table)...17
Unweighted competitor share of partnerships for home emergency insurance in Belgium, 2013: energy
companies 18
Unweighted competitor share of partnerships for home emergency insurance in Belgium, 2013:
household insurance brands ...19
Weighted competitor share of partnerships for home emergency insurance in Belgium, 2013..20
Estimated gross written premiums from home emergency insurance in Belgium, 2009 and 2013 23
Estimated gross written premiums from home emergency insurance in Belgium, 2009 and 2013 (table).23
Estimated number of home emergency insurance policies in Belgium, segmented by type of policy, 2013
...24
Estimated gross written premiums from home emergency insurance in Belgium, segmented by
distribution channel, 201325
Estimated number of policies and gross written premiums for home emergency insurance in Belgium,
segmented by type of policy and by distribution channel, 201326
Forecast gross written premiums from home emergency insurance in Belgium, 2017...27
Forecast gross written premiums from home emergency insurance in Belgium, 2017 (table) ...27

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