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Road Assistance in India

  • October 2014
  • -
  • Finaccord
  • -
  • 20 pages

Road Assistance in India is a report about the market for this type of assistance – sometimes referred to as breakdown recovery insurance – acquired by individual consumers in India. The research is based on a primary survey of over 50 actual and potential distributors of road assistance in India 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 India
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 India. 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 54 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 through all of the car manufacturer brands surveyed in India 9
Operating models 10
In India, just under half of distributors make use of one or more external road assistance partners 10
Partnerships with car manufacturer brands 12
Allianz Global Assistance holds the highest number of partnerships with manufacturer brands in India… 12
… followed by MyTVS, Europ Assistance and India Assistance 12
Partnerships with motor insurance brands 13
MyTVS and India Assistance claim the most partnerships with motor insurance brands… 13
.with eight reportedly managing their own road assistance services 13
Partnerships with independent warranty providers 14
The Warranty Group has initiated a joint venture with TVS Automobile Solutions 14
Partnerships with automotive clubs 14
The Western India Automobile Association is the largest of four automotive clubs 14
Other distribution channels 15
Direct distribution and other online brands 15
Beyond the traditional automotive clubs, only MyTVS sells directly to the public 15
Payment cards and bank accounts 15
ICICI Bank packages road assistance automatically with some of its banking products 15
Online aggregators and brokers 15
Other types of distributor 15
Market size and forecast 16
In real terms, the value of the market could grow at 11% annually between 2014 and 2018 16
Well over 80% of the total market value is accounted for by two distribution channels 16
Leading competitors 19
MyTVS is likely to claim the highest share of the market… 19
. ahead of a variety of competitors from different sectors. 19

LIST OF GRAPHICS / TABLES

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

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