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Home Emergency Insurance and Assistance in Germany

  • June 2014
  • -
  • Finaccord
  • -
  • 29 pages

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

- 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 Germany, 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 Germany
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 nearly 140 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
There are around 40 million occupied dwellings in Germany..8
...and almost a half of these are rented out privately8
Distribution through key partner organisations ...10
Summary of organisations researched10
Provision rates ..12
Only a handful of German energy and water suppliers provide home emergency cover... .12
...and, with a few exceptions, these policies take the form of comprehensive cover13
Household insurers offering comprehensive home emergency cover usually do so for an extra fee..13
Almost 30% of household insurance brands offer cover for plumbing and water emergencies ..13
Operating models .16
Several external and captive home assistance providers operate in this market... ..16
...although many utility firms and insurers simply maintain their own database of approved tradespersons...17
Partnerships with energy companies...18
AXA Assistance and ROLAND Assistance are both active in this area18
Partnerships with water companies.19
Several water companies have chosen to operate their own schemes internally 19
Partnerships with household insurance brands ..20
ROLAND Assistance maintains a number of external partnerships with insurance brands.20
Captive providers include Allianz Global Assistance and Europ Assistance 20
A number of significant underwriters operate their own home emergency schemes...21
Weighted competitor share of partnerships with key partner organisations..21
Allianz Global Assistance and AXA Assistance are dominant thanks to their captive partnerships 22
Other distribution channels..23
Gas boiler manufacturers.23
A majority of German boiler manufacturers offer on-going maintenance contracts..23
Direct sales23HOME EMERGENCY INSURANCE AND ASSISTANCE IN GERMANY
© FINACCORD (05/2014) II
HomeServe is present in the German market but yet to have a substantial impact.23
Online aggregators and brokers ..23
Price comparison sites only offer this product as part of regular household insurance policies...23
Other online brands ..23
Payment cards and bank accounts .24
Home assistance is rarely available through credit cards or packaged bank accounts ...24
Automotive clubs...24
Other types of distributor ..24
Market size, growth and forecast 24
The market value is likely to have been around 12.7% higher in 2013 than in 200924
Policies designed to cover water and plumbing emergencies make up most of the total in force ...26
More than half of all home emergency policies are distributed via household insurers26
The apparent absence of direct selling activity points to limited future growth..28HOME EMERGENCY INSURANCE AND ASSISTANCE IN GERMANY
© FINACCORD (05/2014) III

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY ...1
Key market data for home emergency insurance in Germany2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS.8
Dwelling stock in Germany, segmented by type of dwelling and by type of occupant, 2013 9
Key metrics regarding dwelling stock in Germany, 2009, 2013 and forecast for 201710
Summary of potential distributor organisations researched in Germany, segmented by type, 2014..12
Provision rates for home emergency insurance in Germany, segmented by type of organisation and by
type of policy, 2014 ..14
Extent to which home emergency insurance schemes in Germany are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 201415
Extent to which home emergency insurance schemes in Germany are optional as opposed to automatic,
segmented by type of organisation and by type of policy, 2014 (table)16
Operating models used for home emergency insurance in Germany, segmented by type of organisation,
2014 ..17
Operating models used for home emergency insurance in Germany, segmented by type of organisation,
2014 (table)...18
Unweighted competitor share of partnerships for home emergency insurance in Germany, 2014: energy
companies 19
Unweighted competitor share of partnerships for home emergency insurance in Germany, 2014: water
companies 20
Unweighted competitor share of partnerships for home emergency insurance in Germany, 2014:
household insurance brands ...21
Weighted competitor share of partnerships for home emergency insurance in Germany, 201422
Estimated gross written premiums from home emergency insurance in Germany, 2009 and 2013 ..25
Estimated gross written premiums from home emergency insurance in Germany, 2009 and 2013 (table)
...25
Estimated number of home emergency insurance policies in Germany, segmented by type of policy, 2013
...26
Estimated gross written premiums from home emergency insurance in Germany, segmented by
distribution channel, 201327
Estimated number of policies and gross written premiums for home emergency insurance in Germany,
segmented by type of policy and by distribution channel, 201328
Forecast gross written premiums from home emergency insurance in Germany, 2017.29
Forecast gross written premiums from home emergency insurance in Germany, 2017 (table) .29

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