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Presentation: Global Mobile Operator Strategies in Insurance and Assistance

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Information about Presentation: Global Mobile Operator Strategies in Insurance and Assistance
Finance

Published on March 12, 2014

Author: Finaccord

Source: slideshare.net

Description

Presentation at Latin America’s 5th Annual Microinsurance Summit
Miami, 10 March 2014
http://microinsurance-latin.com/
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© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 1 Global mobile operator strategies in insurance and assistance Latin America’s 5th Annual Microinsurance Summit 10 March 2014

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 2 What topics does Finaccord cover? Affinity and partnership marketing Automotive financial services Bancassurance: life, non-life and creditor insurance Commercial non-life insurance brokers Consumer intelligence Extended warranties and insurance for white, brown and grey goods Insurance and assistance linked to payment cards and bank accounts Mobile gadget and phone insurance Professional indemnity insurance Retailer payments, banking, insurance and assistance Road assistance Small business insurance Trade credit insurance Travel insurance and assistance For some topics, our coverage is already global (i.e. 40+ countries)

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance Global Mobile Operators: Strategies in Payments, Banking, Insurance and Assistance • 2012 survey of global mobile network operators, conducted by Finaccord; • 255 network brands, across 70 countries • coverage of over 20 separate payment, banking, insurance and assistance product categories • aim: how do / can mobile operators generate revenues from financial services? 3

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance Product categories investigated • payments: contactless merchant payments; payments via bank card / account; payments via mobile phone bill; payments via network account; talktime / call credit transfer; • banking: mobile banking (bank current accounts); credit cards (non- virtual); prepaid cards (non-virtual); personal loans / micro-credits; • insurance: mobile phone, mobile gadget, bill payment protection, identity protection, motor, household, travel, accident, health, life; • assistance: home, legal, medical, road. 4

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 5 Source: Finaccord Global Mobile Operators reports Geographical segmentation of mobile operator brands researched E&S-E Europe, 33 N&C Europe, 35 S&W Europe, 28 Africa & Middle East, 50 Asia-Pacific, 69 Latin America, 27 North America, 13

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 6 Source: Finaccord Global Mobile Operators reports Multinational telecoms groups with five or more wholly- or partially-owned subsidiary brands covered by the research Number of subsidiaries Vodafone Telefónica France Télécom Deutsche Telekom América Móvil Hutchison Whampoa Telenor TeliaSonera Etisalat Qtel Bharti Airtel Singapore Telecommunications Telekom Austria VimpelCom 23 14 12 10 8 8 8 7 6 6 5 5 5 5

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 7 Mobile operator brands surveyed in Latin America Source: Finaccord Global Mobile Operators reports Country Brand Subscribers (millions) Country Brand Subscribers (millions) Uruguay Ancel Peru Movistar Argentina Claro Uruguay Movistar Brazil Claro Brazil NEXTEL Chile Claro Mexico NEXTEL Ecuador Claro Peru NEXTEL Peru Claro Brazil Oi Colombia Comcel Argentina Personal Chile Entel Paraguay Personal Mexico Iusacell Mexico Telcel Argentina Movistar Colombia Tigo Chile Movistar Paraguay Tigo Colombia Movistar Brazil TIM Ecuador Movistar Brazil Vivo Mexico Movistar 1.8 14.1 61.0 3.2 8.0 9.0 29.0 5.6 3.8 16.8 9.5 11.4 4.5 21.0 14.0 1.8 4.0 3.8 0.7 39.4 18.0 1.8 66.9 5.1 3.6 61.4 71.6

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 8 13.7% 22.4% 22.7% 22.4% 61.6% 27.1% 23.5% 5.9% 5.9% 1.6% 37.9% 28.9% 38.5% 43.2% 67.7% 36.5% 42.4% 19.6% 4.7% 1.2% 0% 20% 40% 60% 80% 100% Contactless merchant payments Payments via bank card / account Payments via phone bill Payments via network account Talktime / call credit transfer Mobile banking (bank current accounts) Credit card (non-virtual) Prepaid card (non-virtual) Consumer finance / micro-credits Miscellaneous payments / banking Provision rates for payment and banking products: all mobile operators surveyed worldwide Source: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 9 0.0% 25.9% 14.8% 11.1% 70.4% 33.3% 59.3% 0.0% 22.2% 0.0% 0.0% 19.4% 2.8% 14.6% 72.7% 31.3% 76.1% 0.0% 9.8% 0.0% 0% 20% 40% 60% 80% 100% Contactless merchant payments Payments via bank card / account Payments via phone bill Payments via network account Talktime / call credit transfer Mobile banking (bank current accounts) Credit card (non-virtual) Prepaid card (non-virtual) Consumer finance / micro-credits Miscellaneous payments / banking Provision rates for payment and banking products: mobile operators surveyed in Latin America Source: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance Comments about provision rates for payment and banking products • Talktime transfer remains the most popular form of mobile payment – Usable with any handset since @1996 – Perfect product for under-served communities (works with prepaid phones, works without mobile data connection) 10

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 11 36.1% 13.3% 4.3% 0.8% 0.8% 2.0% 9.4% 27.2% 13.4% 2.8% 0.8% 0.3% 15.3% 22.3% 0% 20% 40% 60% 80% 100% Mobile phone insurance Mobile gadget insurance Bill payment protection insurance Identity protection insurance / assistance Motor insurance Household insurance Travel insurance / assistance Source: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate Provision rates for insurance and assistance products: all mobile operators surveyed worldwide (1)

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 12 8.6% 3.1% 6.3% 5.9% 5.5% 10.2% 7.5% 6.7% 23.1% 4.4% 17.8% 4.0% 4.2% 18.2% 6.9% 7.5% 0% 20% 40% 60% 80% 100% Accident insurance Health insurance Life insurance Home assistance Legal assistance Medical assistance Road assistance Miscellaneous insurance / assistance Source: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate Provision rates for insurance and assistance products: all mobile operators surveyed worldwide (2)

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 13 63.0% 25.9% 7.4% 0.0% 3.7% 3.7% 37.0% 63.6% 38.4% 13.4% 0.0% 0.7% 14.6% 31.6% 0% 20% 40% 60% 80% 100% Mobile phone insurance Mobile gadget insurance Bill payment protection insurance Identity protection insurance / assistance Motor insurance Household insurance Travel insurance / assistance Source: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate Provision rates for insurance and assistance products: mobile operators surveyed in Latin America (1)

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 14 18.5% 7.4% 11.1% 48.1% 40.7% 48.1% 55.6% 40.7% 30.6% 16.5% 17.4% 31.4% 31.6% 47.2% 37.4% 33.6% 0% 20% 40% 60% 80% 100% Accident insurance Health insurance Life insurance Home assistance Legal assistance Medical assistance Road assistance Miscellaneous insurance / assistance Source: Finaccord Global Mobile Operators reportsSource: Finaccord Global Mobile Operators reports Unweighted provision rate Weighted provision rate Provision rates for insurance and assistance products: mobile operators surveyed in Latin America (2)

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 15 • Mobile phone insurance (handset protection) is most popular • Assistance packages are also widespread in Latin America • Assistance products are becoming potentially significant for mobile providers (especially where strong interaction with mobiles is possible, such as with medical, road and travel assistance) Comments about provision rates for insurance and assistance products

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 16 Overview of provision rates for all payment, banking, insurance and assistance products by region Source: Finaccord Global Mobile Operators reports 0% 20% 40% 60% 80% 100% E&S-E Europe N&C Europe S&W Europe Africa & Middle East Asia Pacific Latin America North America All countries Payment / banking alone Insurance / assistance alone None T Payment / banking and insurance / assistance

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 17 Overview of provision rates for all payment and banking products plus all insurance and assistance products apart from mobile phone (handset) and gadget insurance by region Source: Finaccord Global Mobile Operators reports 0% 20% 40% 60% 80% 100% E&S-E Europe N&C Europe S&W Europe Africa & Middle East Asia Pacific Latin America North America All countries Payment / banking alone Insurance / assistance alone None Payment / banking and insurance / assistance

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance • Development of mobile payment and banking products is primary activity for mobile operators • Apart from mobile phone (handset) and gadget insurance, initiatives in insurance and assistance tend to be secondary 18 Comments about overall provision rates

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 19 0% 20% 40% 60% 80% 100% Contactless merchant payments Payments via bank card / account Payments via phone bill Payments via network account Talktime / call credit transfer Mobile banking (bank current accounts) Credit card (non-virtual) Prepaid card (non-virtual) Consumer finance / micro-credits Miscellaneous payments / banking External partner Multiple external partners Captive partner Joint venture partner Internal Other Undisclosed . Operating models used for payment and banking products: mobile operators surveyed worldwide Source: Finaccord Global Mobile Operators reports

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 20 Comments about operating models for payment and banking products • Operating models vary by payment and banking product • Apart from talktime / call credit transfer, external or non-internal entities are often involved for other services • Examples include Gemalto, MasterCard, Visa, Western Union etc.

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 21 Operating models used for insurance and assistance products: mobile operators surveyed worldwide (1) Source: Finaccord Global Mobile Operators reports 0% 20% 40% 60% 80% 100% Mobile phone insurance Mobile gadget insurance Bill payment protection insurance Identity protection insurance / assistance Motor insurance Household insurance Travel insurance / assistance External partner Multiple external partners Captive partner Joint venture partner Internal Other Undisclosed [legend tricker]

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 22 Operating models used for insurance and assistance products: mobile operators surveyed worldwide (2) 0% 20% 40% 60% 80% 100% Accident insurance Health insurance Life insurance Home assistance Legal assistance Medical assistance Road assistance Miscellaneous insurance / assistance Total External partner Multiple external partners Captive partner Joint venture partner Internal Other Undisclosed Series9 Source: Finaccord Global Mobile Operators reportsSource: Finaccord Global Mobile Operators reports

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 23 • External partnerships dominate, as few mobile operators maintain captive insurance arms • The few found tend to specialise in mobile phone (handset) insurance • Even mobile operators with captives (e.g. Telefónica, Vodafone) maintain strong ties with external partners (e.g. ACE, Assurant) Comments about operating models for payment and banking products

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 24 The European experience: distribution interfaces used for motor insurance Source: Finaccord Aggregation Metrics report 0% 20% 40% 60% 80% 100% Buyers in years prior to 2012 Switchers and new buyers, 2008 Switchers and new buyers, 2012 T Post Outbound telephone Inbound telephone Online Face-to-face

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 25 0% 20% 40% 60% 80% 100% France Germany Italy Poland Spain UK Average Laptop or desktop computer Tablet computer Mobile phone T The European experience: devices used to buy motor insurance online Source: Finaccord Aggregation Metrics report

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 26 • The online channel has seen significant growth and use of mobile devices to buy insurance online is likely to grow in future • People are coming to the online channel through mobile devices, not just ‘switching’ online interfaces • Tablet costs are dropping and purchases are often viable among lowest income bands • Tablets (and smartphones) in many areas represent ‘device + broadband’ (especially where fixed broadband access is limited) Comments about the European experience in motor insurance

© Finaccord Ltd., 2014 Web: www.finaccord.com, E-mail: info@finaccord.com Global Mobile Operator Strategies in Insurance and Assistance 27 Finaccord is a leading market research, publishing and consulting company specialising in financial services. We provide our clients with insight with a particular focus on marketing and distribution strategies, including affinity and partnership marketing. Our areas of expertise include: affinity and partnership marketing; automotive financial services; bancassurance; commercial non-life insurance brokers; consumer intelligence; extended warranties and insurance for white, brown and grey goods; insurance and assistance linked to payment cards and bank accounts; mobile gadget and phone insurance; professional indemnity insurance; retailer payments, banking, insurance and assistance; road assistance; small business insurance; trade credit insurance; and travel insurance and assistance. Our international network of consultants is able to deliver information quickly and accurately across a range of countries worldwide, basing research projects on robust data and knowledge. Contact us The Office Farringdon 24 Greville Street London, EC1N 8SS Phone: +44 20 3178 2556 Fax: +44 20 7198 7902 Email: info@finaccord.com www.finaccord.com

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