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Road Assistance in China

  • November 2014
  • -
  • Finaccord
  • -
  • 20 pages

Road Assistance in China is a report about the market for this type of assistance – sometimes referred to as breakdown recovery insurance – acquired by individual consumers in China.

The research is based on a primary survey of over 130 actual and potential distributors of road assistance in China including automotive clubs, motor insurance brands, car manufacturer brands and independent warranty providers. For each of these organisations, it establishes whether they offer road assistance in any format or not and, if they do, the partner assistance firms with which they work if they do not report managing the service themselves on an internal basis.

Having presented the provision rates for road assistance across these main categories of distributor, the study then compares the operating models that they use, shows which providers of road assistance hold the most partnerships in each category and comments upon the importance of other distribution options including online aggregators and packaging with banking products. Moreover, it quantifies the value of the market for road assistance acquired by individual consumers in Ind in 2014, segmented by distribution channel, presents the likely market share by revenues of the leading competitors, and provides forecasts for the value of the market up to 2018.

Table Of Contents

Road Assistance in China
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
Rationale 3
This is the first ever published study about the market for road assistance in China 3
.in part because the distribution of this product involves several very different channels 3
Methodology 3
Primary research 3
Research for this report includes over 130 actual and potential distributors of road assistance 3
Market data 4
Competitor data 4
External sources 5
Definitions 5
Terms and abbreviations 5
Operating models 5
Currencies, exchange rates and inflation 6
PartnerBASE 6
Finaccord 6
2.0 MARKET ANALYSIS 8
Introduction 8
Distribution through key partner organisations 8
Summary of organisations researched 8
Provision rates 9
Road assistance is available from more than 90% of motor insurance and car manufacturer brands 9
Operating models 10
Over 40% of active distributors work with one or more external partners for road assistance 10
Partnerships with car manufacturer brands 12
Allianz Global Assistance claims the most partnerships with car manufacturer brands in China…. 12
… albeit many claim to organise road assistance on an internal basis… 12
… in which case assistance is provided on a pay-as-you-use basis rather than as an automatic benefit 13
Partnerships with motor insurance brands 13
Road China Assistance is slightly ahead of Allianz Global Assistance in terms of number of partnerships… 13
… with this duo followed by AA China, An Ji, AXA Assistance, CAA and PAAC 14
Partnerships with independent warranty providers 15
Partnerships with automotive clubs 15
Other distribution channels 15
Direct distribution and other online brands 15
Apart from the automotive clubs, only two providers sell directly to consumers 15
Payment cards and bank accounts 15
Road assistance is quite often packaged with banking products in China 15
Online aggregators and brokers 16
Other types of distributor 16
Market size and forecast 16
Finaccord expects this market to grow at 13% per annum in nominal terms between 2014 and 2018 16
Road assistance cover sold through motor insurance firms makes up most of the market value 16
Leading competitors 19
The largest two providers jointly account for around half of the market. 19
. and a further five competitors hold most of the other half between them 19

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1
Key market data for road assistance in China 2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS 8
Summary of potential distributor organisations researched in China, segmented by type, 2014 9
Provision rates for road assistance in China, segmented by type of organisation, 2014. 10
Operating models used for road assistance in China, segmented by type of organisation, 2014 11
Operating models used for road assistance in China, segmented by type of organisation, 2014 (table) 12
Competitor share of partnerships for road assistance in China, 2014: car manufacturer brands 13
Competitor share of partnerships for road assistance in China, 2014: motor insurance brands 14
Estimated gross written premiums and other revenues from road assistance in China, 2014, plus forecast
for 2018 17
Estimated gross written premiums and other revenues from road assistance in China, segmented by
distribution channel, 2014 18
Estimated number of policies and gross written premiums and other revenues from road assistance in
China, segmented by distribution channel, 2014, plus forecast for 2018 (table) 19
Individual competitors' estimated market shares of gross written premiums and other revenues for road
assistance in China, 2014 20

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ref:plp2014

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