Finaccord's report titled Affinity and Partnership Marketing in UK Pet
Insurance represents the most detailed research ever undertaken on this sector
and is one of seven studies in the latest series of publications. Drawing on
the results of a survey of 2,650 organisations, the report analyses the
penetration, operating models and provider share of relationships of affinity
and partnership marketing schemes for pet insurance across a range of
distributor categories.
These include: banks; charities; friendly societies; internet, media and
telecoms entities; lifestyle associations; online aggregators and brokers;
professional associations; retailers; and trade unions. Moreover, the
PartnerBASE™ database that accompanies the report provides the granular
detail behind the analysis, detailing each of more than 80 affinity and
partnership marketing initiatives traced by Finaccord in this sector.
In addition, the latest analysis identifies not only the providers of pet
insurance with the most partnerships (overall, and within each category) but,
for the first time and using a proprietary formula devised by Finaccord, also
computes 'weighted provider shares of partnerships' in order to highlight the
providers that are likely to hold the most valuable relationships given the
characteristics of their partners.
You may be able to use this report and associated PartnerBASE™ database
in one or more of the following ways:
drill down into the detail lying behind affinity and partnership marketing
schemes for pet insurance;
gain access to research that chronicles the vast majority of affinity and
partnership marketing opportunities in this area;
understand not only which providers of pet insurance have secured the most
partnerships but which are likely to hold the most valuable deals;
benchmark the competitive position of your own organisation in affinity
and partnership marketing and spot opportunities for displacing rivals;
plan your future affinity and partnership marketing strategy in pet
insurance armed with the best market and competitor intelligence available on
this subject.
Together, the report and PartnerBASE™ database will provide you with the
definitive guide to current and potential affinity and partnership marketing
opportunities in UK pet insurance.
Table of Contents
Table of Contents
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
Background 2
Rationale 2
Affinity and partnership marketing remains an important, strategic
topic for financial institutions as the ability of affinity and corporate
partners to compete effectively has evolved over time 2
Methodology 4
Organisations investigated 4
Finaccord's research covers a total of 2,650 actual and potential
partner organisations representing virtually all entities that could be
significant in this field 5
Calculation of weighted provider share of partnerships 5
Finaccord's methodology identifies providers that are likely to hold
the most valuable relationships by means of formulae that take into
account not only UK traffic rankings for organisations' websites but also
distribution shares for each financial product or service by organisation
category and the total number of organisations in each category that
actually distribute the product 6
Definitions 6
Operating models 6
PartnerBASE syntax 7
Finaccord 7
UK affinity and partnership marketing publications 7
UK consumer research publications 7
2.0 MARKET OVERVIEW 9
Affinities and partnerships in UK pet insurance 9
Finaccord's research identified over 80 schemes for pet insurance
involving an external partner which are divided between 18 distributor
categories 9
Over a third of affinity schemes for pet insurance are organised
directly with the ultimate underwriter 11
Five providers are ranked among the leaders for both the weighted and
unweighted analysis namely AXA, BDML Connect, PetPlan, QBE and RSA and they
are joined by Ultimate Insurance Company and two other competitors in the
latter case 12
Key new deals and renewals, Q2 2010 to Q3 2012 14
3.0 NOT-FOR-PROFIT AFFINITY PARTNERS 15
Charities 15
Introduction 15
The websites of the National Trust and Great Ormond Street Hospital
attract the most UK traffic 15
Analysis of partnerships 16
Pet insurance is promoted by a reasonably significant number of
charities 16
PetPlan holds the most partnerships by virtue of its deals with
several animal-related charities although there are plenty of other
providers competing for mandates in this category 17
Lifestyle organisations 19
Introduction 19
The category of lifestyle organisations embraces a diverse range of
entities 19
Analysis of partnerships 20
Agria International Försäkring holds the key relationship in
this field 20
Professional associations 22
Introduction 22
The combined membership of professional associations comes to just
under 4 million 22
Analysis of partnerships 24
Very few professional associations have any kind of arrangement in
place for pet insurance although they often intermediate other insurance
types within member benefits packages 24
Sports organisations 27
Introduction 27
This category includes bodies to which individual sports clubs,
practitioners and trainers may belong 27
Analysis of partnerships 28
The relationship of the British Horse Society with South Essex
Insurance Brokers extends to pet cover 28
Trade associations 29
Introduction 29
Finaccord has extended its coverage in this category to a total of 700
associations 29
Analysis of partnerships 32
E&L Insurance claims a pair of important relationships in this
category 32
Trade unions 34
Introduction 34
There are around 6.4 million trade union members in the UK
34
Analysis of partnerships 36
Eight trade unions include pet insurance among offers made to members
36
4.0 FINANCIAL PARTNERS 38
Banks 38
Introduction 38
Several challenger banks have emerged to compete with the major
incumbents and further structural changes to the market are likely to
occur in future years 38
Analysis of partnerships 39
Several problems have combined to reduce the appetite of banks for
selling pet insurance 39
Friendly societies 41
Introduction 41
Finaccord's research covers 25 of the larger friendly societies in the
UK among which Liverpool Victoria is by far the largest 41
Analysis of partnerships 42
Among friendly societies, just one pet insurance initiative is visible
42
Insurers 43
Introduction 43
Over 70 insurance underwriting brands can be broken down into four
main sub-categories 43
Analysis of partnerships 44
Five out of 15 insurance brands used to sell pet cover are active in
this area via external partnerships 44
Online aggregators and brokers 46
Introduction 46
The market for online aggregation and broking has become more
concentrated in recent years as a result of a number of factors including
the challenge thrown up by cashback websites 46
Analysis of partnerships 47
12 entities in this category outsource pet insurance provision to
external providers 47
BDML Connect has secured the most partnerships among online
aggregators and brokers although the most valuable deals are held by two
of its competitors in this field 48
Specialised lenders 50
Introduction 50
The category of specialised lenders includes a variety of different
types of institution with many new competitors having emerged in the wake
of the 'credit crunch' 50
Analysis of partnerships 51
Only a couple of initiatives for pet insurance are visible in this
partner category 51
5.0 COMMERCIAL PARTNERS 52
Automotive associations 52
Introduction 52
In addition to the AA and RAC, six other organisations fall within
this partner category 52
Analysis of partnerships 53
QBE has secured the most significant relationship in this category
53
Coalition loyalty schemes and frequent flyer programs 55
Introduction 55
The websites of four loyalty schemes are ranked in the top 5,000 by
number of UK visitors 55
Analysis of partnerships 56
Both Maximiles and Nectar allow members to earn 'currency' by
purchasing pet insurance 56
Football and rugby clubs 58
Introduction 58
The research investigates a total of 76 professional football and
rugby clubs 58
Analysis of partnerships 59
The involvement of football and rugby clubs is limited to two
comparatively minor initiatives 59
Internet, media and telecoms entities 61
Introduction 61
This category embraces many organisations with extremely high UK
website rankings which can have a substantial impact on the analysis of
weighted partnership shares 61
Analysis of partnerships 62
Three providers have secured distribution relationships in this
category 62
Retailers 64
Introduction 64
Among retail brands, Amazon's website attracts the most UK traffic,
followed by those of Tesco and Argos 64
Analysis of partnerships 65
13 major retailing brands are involved in the distribution of pet
insurance 65
AXA, BDML Connect and RSA are all prominent as providers in this
respect with the latter likely to hold the partnerships delivering the
highest volumes 66
The Post Office and other major brands 68
Introduction 68
Several major organisations are considered separately as they do not
fit easily in the other categories 68
Among these, the website of the Post Office pulls in the most UK
visitors, followed by that of Saga 68
Analysis of partnerships 69
Three of the five organisations covered are active as distributors of
pet insurance 69
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 2
The affinity and partnership marketing universe 3
Organisations investigated, segmented by broad category 4
2.0 MARKET OVERVIEW 9
Affinity and partnership marketing schemes for pet insurance in the UK:
provision rate by category of partner 10
Affinity and partnership marketing schemes for pet insurance in the UK:
operating models 11
Affinity and partnership marketing schemes for pet insurance in the UK:
unweighted and weighted provider share of partnerships 13
3.0 NOT-FOR-PROFIT AFFINITY PARTNERS 15
Charities offering pet insurance: provision rates and operating models
16
Charities offering pet insurance: unweighted and weighted provider share
of partnerships 18
Lifestyle organisations offering pet insurance: provision rates and
operating models 20
Lifestyle organisations offering pet insurance: unweighted and weighted
provider share of partnerships 21
Top 40 professional associations in the UK ranked by member numbers, 2012
(table) 23
Professional associations offering pet insurance: provision rates and
operating models 25
Professional associations offering pet insurance: unweighted and weighted
provider share of partnerships 26
Sports organisations offering pet insurance: provision rates and operating
models 28
Top 80 trade associations in the UK ranked by member numbers, 2012 (table)
30
Top 80 trade associations in the UK ranked by member numbers, 2012 (table)
(continued) 31
Trade associations offering pet insurance: provision rates and operating
models 32
Trade associations offering pet insurance: unweighted and weighted
provider share of partnerships 33
Top 40 trade unions in the UK ranked by member numbers, 2012 (table)
35
Trade unions offering pet insurance: provision rates and operating models
36
Trade unions offering pet insurance: unweighted and weighted provider
share of partnerships 37
4.0 FINANCIAL PARTNERS 38
Banks offering pet insurance: provision rates and operating models
39
Banks offering pet insurance: unweighted and weighted provider share of
partnerships 40
Friendly societies offering pet insurance: provision rates and operating
models 42
Insurers offering pet insurance: provision rates and operating models
44
Insurers offering pet insurance: unweighted and weighted provider share of
partnerships 45
Online aggregators and brokers offering pet insurance: provision rates and
operating models 47
Online aggregators and brokers offering pet insurance: unweighted and
weighted provider share of partnerships 49
Specialised lenders offering pet insurance: provision rates and operating
models 51
5.0 COMMERCIAL PARTNERS 52
Automotive associations offering pet insurance: provision rates and
operating models 53
Automotive associations offering pet insurance: unweighted and weighted
provider share of partnerships 54
Coalition loyalty schemes and frequent flyer programs offering pet
insurance: provision rates and operating models 56
Coalition loyalty schemes and frequent flyer programs offering pet
insurance: unweighted and weighted provider share of partnerships
57
Football and rugby clubs offering pet insurance: provision rates and
operating models 59
Football and rugby clubs offering pet insurance: unweighted and weighted
provider share of partnerships 60
Internet, media and telecoms entities offering pet insurance: provision
rates and operating models 62
Internet, media and telecoms entities offering pet insurance: unweighted
and weighted provider share of partnerships 63
Retailers offering pet insurance: provision rates and operating models
65
Retailers offering pet insurance: unweighted and weighted provider share
of partnerships 67
Partnerships of the Post Office and other major brands offering pet
insurance 69
Affinity and Partnership Marketing in UK Pet Insurance published by Finaccord Ltd. in January 1, 2013. This report consists of 75 Pages and the price starts from US $ 982.
The contents of this page may be different from the latest version. Please contact us for details.
