Mais conteúdo relacionado Mais de Intelligo Consulting (20) Travel Insurance and Assistance in the Asia-Pacific Region1. Travel Insurance and Assistance in the Asia-Pacific Region
Travel Insurance and Assistance
in the Asia-Pacific Region
Report Prospectus
October 2013
Expertise in financial services
© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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2. Travel Insurance and Assistance in the Asia-Pacific Region
Prospectus contents
Page
What is the research?
What methodology has been used?
How do organisations surveyed break down?
What is the report structure?
What are the key features of the research?
How can the research be used?
How can the PartnerBASE™ be used?
What does the market data annexe deliver?
Who can use the research?
What are some of the key findings?
What is the cost and format?
What other reports are available?
How can the research be purchased?
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© Finaccord Ltd., 2013
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3. Travel Insurance and Assistance in the Asia-Pacific Region
What is the research?
Finaccord's report titled Travel Insurance and Assistance in the Asia-Pacific Region investigates the
often fast-growing markets for stand-alone travel insurance and assistance in ten countries in this
region, namely Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, Singapore,
South Korea and Taiwan.
Across each of these countries, the study investigates trends in both business and leisure travel
between 2008 and 2012, verifies the current distribution partnerships for travel cover of all major
travel trade, transportation and financial organisations, and analyses the importance of travel cover
packaged automatically with payment cards and bank accounts.
The report is accompanied by an Excel PartnerBASE™ dataset that details the travel insurance
partnerships of each of the travel trade, transportation and financial organisations covered, plus a
convenient market data annexe, also in Excel format.
While Finaccord has released research about travel insurance in other countries around the world
since 2003, this is the first time that a detailed publication has ever been made available specifically
for the Asia-Pacific region, thereby filling an important gap in a market that is likely to increase in
value by well over 40% between 2012 and 2016.
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4. Travel Insurance and Assistance in the Asia-Pacific Region
What methodology has been used?
Finaccord’s investigation into the travel insurance and assistance market in the Asia-Pacific region
draws on several sources. First, Finaccord analyses the size, segmentation and dynamics of the
underlying travel market, developing standardised data for the number of overseas trips in each
country between 2008 and 2012, split between holiday and business travel.
The report also includes top level findings from a separate survey focused on the provision of travel
insurance and assistance packaged with over 4,500 payment card and bank account products by all
significant banks and other card issuers in the region.
However, the largest element is the extensive survey of 1,220 travel trade, transportation and financial
organisations across this region. These were investigated to find out: if they distribute travel insurance
and assistance policies; if so, what operating model is used (e.g. external underwriter, external broker,
captive underwriter etc.); and if so, who their insurance partner(s) is / are.
These companies include airlines, banks, ferry and railway operators, online travel specialists and
specialised card providers, as well as mainstream travel agents and tour operators, thereby offering
comprehensive coverage of these major distribution categories.
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5. Travel Insurance and Assistance in the Asia-Pacific Region
How do organisations surveyed break down?
Segmentation by type of firm
Segmentation by geography
Specialised card
providers, 62
Banking
organisations,
291
Taiwan, 110
Australia, 114
South Korea, 110
China, 202
Singapore, 82
Travel agents /
tour operators,
585
New Zealand, 96
Railway
operators, 24
Ferry operators, 37
Hong Kong, 95
India, 139
Japan, 149
Airlines, 139
Online travel
specialists, 82
Indonesia, 123
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6. Travel Insurance and Assistance in the Asia-Pacific Region
What is the report structure?
0. Executive Summary: providing a concise evaluation of the principal findings of the report.
1. Introduction: offering rationale, description of methodology and some definitions.
2. Regional Overview: comprising an overview of the market for travel insurance and assistance in
the Asia-Pacific region including: data spanning 2008 to 2012 for the underlying travel market with
segmentations by type of trip, and for the size of the market for stand-alone travel insurance and
assistance in terms of premiums and policies, with a segmentation between single-trip and annual
cover; comparisons of operating models used and market concentration by country; and forecasts
for market drivers, values and volumes to 2016.
3. Australia: an in-depth study of the market for travel insurance and assistance in Australia
including: data spanning 2008 to 2012 for the underlying travel sector and for the value and volume
of the stand-alone travel insurance and assistance market with similar segmentations to those in
the overview chapter; analyses of the share of distribution relationships of travel insurance
providers split between travel trade, transportation and financial organisations; a review of other
direct and affinity distribution channels, including packaged cover; and forecasts to 2016.
4 - 12: Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, Singapore, South Korea and Taiwan (structure as for Australia).
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7. Travel Insurance and Assistance in the Asia-Pacific Region
What are the key features of the research?
Key features of this report include:
• quantification of the market size and segmentation for travel insurance and assistance in ten
countries: how much are these markets worth and where are they forecast to grow most quickly?
• segmentation of travel insurance policies between single-trip and annual policies: to what extent
are annual policies on the rise and where have they made the most progress?
• competitor share of partnerships by number of relationships: which providers of travel insurance
and assistance policies have the most relationships with travel trade and transportation entities,
which have been most successful with banks and how does this vary by country?
• commentaries about distribution channels in each country: how active are other key distributor
categories such as automotive clubs, direct sales, online aggregators and brokers, other online
brands, retailers and other consumer-facing entities?
• availability of an accompanying PartnerBASE™ dataset that includes every travel insurance
partnership traced by Finaccord across 1,220 key distributors, plus a market data annexe, both in
Excel format.
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© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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8. Travel Insurance and Assistance in the Asia-Pacific Region
How can the research be used?
You may be able to use this report and the PartnerBASE™ dataset and market data annexe that
accompany it in one or more of the following ways:
• compare the size of stand-alone travel insurance and assistance markets in the Asia-Pacific
region, their growth rates (since 2008) and their future prospects (to 2016);
• understand the supply structure for travel insurance and assistance, the operating models in use,
the level of market concentration and the relative importance of national versus international
companies;
• appreciate the potential for establishing distribution relationships across a broad range of partner
categories and view what different competitors are doing in this context;
• gain access to a single comprehensive source of information that covers distribution
arrangements for 1,220 travel trade, transportation and financial organisations;
• use the unique statistics contained in the market data annexes to develop your own analyses and
presentations on this subject.
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© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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9. Travel Insurance and Assistance in the Asia-Pacific Region
How can the PartnerBASE™ be used?
Search by
organisation
Identify ultimate
holding companies
Select country
TRAVEL INSURANCE AND ASSISTANCE
Offered? Operating model
Immediate partner(s) / brand(s) UHC(s)
Organisation
Category
Country
Seiki Travel
Scoot
Seagull Worldways
Segyero Travel
Seibu Railway Company
Travel agents / tour operators
Airlines
Travel agents / tour operators
Travel agents / tour operators
Railway operators
Singapore
Australia
India
South Korea
Japan
Filter by category
Yes
Yes
Yes
Yes
Yes
External
External
External
External
External
underwriter
underwriter
underwriter
underwriter
underwriter
AXA Insurance Singapore
ACE Insurance Australia
Tata AIG General Insurance
ACE Insurance Korea
AIU
See operating model
AXA
ACE
AIG / Tata Group
ACE
AIG
View partners
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10. Travel Insurance and Assistance in the Asia-Pacific Region
What does the market data annexe deliver?
Country
CAGR 2008 to CAGR 2008 to
2012 (nominal) 2012 (real)
2008
2009
2010
2011
2012
Country X Holiday trips (million)
9.6
7.4
9.5
9.7
10.5
2.2%
11.0
1.3%
Country X Business trips (million)
2.4
2.1
3.0
3.0
3.3
8.0%
3.4
1.0%
12.0
9.5
12.5
12.7
13.7
3.4%
14.4
1.2%
Country X Number of single-trip policies (000s) 4,066.7 3,375.2 4,694.4 4,857.9 5,337.1
7.0%
5,978.9
2.9%
707.2
13.1%
933.1
7.2%
4,498.5 3,750.2 5,245.1 5,458.3 6,044.3
7.7%
6,912.0
3.4%
454.6
6.3%
Country X Total trips (million)
Country X Number of annual policies (000s)
Country X Total number of policies (000s)
Country X Total GWP (USD million)
431.9
235.6
375.0
201.7
550.7
290.5
600.4
314.4
355.7
10.8%
7.4%
2016
CAGR 2012 to CAGR 2012 to
2016 (nominal) 2016 (real)
Variable (and units)
2.8%
For each country, the market data annexe provides the sample data shown above plus related data such as population and
national GDP. Note that growth in market values, expressed in gross written premiums, are displayed real terms (taking
account of inflation) as well as in nominal terms. This annexe can be used as a convenient source of data already in Excel
format which means that there is no need for users to re-enter data from the PDF report into their own Excel worksheets.
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© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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11. Travel Insurance and Assistance in the Asia-Pacific Region
Who can use the research?
1.
Specialist travel insurance and assistance companies: this study is a comprehensive source of
information about this market, giving detailed and up-to-date information for Australia, China,
Hong Kong, India, Indonesia, Japan, New Zealand, Singapore, South Korea and Taiwan;
2.
Multi-line insurers: although specialist providers sometimes dominate travel trade distribution,
there are opportunities for other insurers to gain market share by using other channels, and this
report provides guidance about these possibilities;
3.
Travel companies and other existing or potential travel insurance intermediaries: in the AsiaPacific region, sales of travel insurance are often focused on traditional travel agents and tour
operators - this report helps you to plan for possible changes in distribution systems;
4.
Banking institutions and other card issuers: evaluate the attractiveness of offering travel
insurance as a stand-alone product or as an enhancement to payment cards or bank accounts;
5.
Management consultancies: are you helping a travel company, assistance firm or insurer with
its future plans for the travel insurance and assistance market in the Asia-Pacific region? Save
time researching the subject yourselves by accessing this publication.
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© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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12. Travel Insurance and Assistance in the Asia-Pacific Region
What are some of the key findings?
1. Australian, Indian and Japanese travellers make overseas
visits to the most varied range of destination countries
Australia
China
Hong Kong
Leading destination
India
Indonesia
2nd destination
Japan
3rd destination
New Zealand
4th destination
Singapore
All other destinations
South Korea
Taiwan
Average
0%
20%
40%
60%
80%
100%
Source: Finaccord analysis
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Web: www.finaccord.com. E-mail: info@finaccord.com
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13. Travel Insurance and Assistance in the Asia-Pacific Region
What are some of the key findings? (cont.)
2. Banks in Australia, Hong Kong and Singapore are most likely
to distribute stand-alone travel cover to their customers
Australia
83.3%
China
14.9%
Hong Kong
90.9%
India
54.2%
Indonesia
3.3%
Japan
22.6%
45.5%
New Zealand
81.8%
Singapore
40.0%
South Korea
33.3%
Taiwan
47.0%
Average
0%
20%
40%
60%
80%
100%
% of banking organisations found to offer stand-alone travel policies, 2013
Source: Finaccord PartnerBASE for Travel Insurance and Assistance in the Asia-Pacific Region
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14. Travel Insurance and Assistance in the Asia-Pacific Region
What are some of the key findings? (cont.)
3. In country X, the market value is forecast to expand strongly up to 2016 although
annual policies will continue to be heavily outnumbered by single-trip policies
Single trip policies
-
Annual policies
Policies (000s)
20
GWP
GWP (USD million)
800
15
600
10
400
5
200
0
2012
Note – country X is revealed in the report itself
Source: Finaccord analysis
© Finaccord Ltd., 2013
2016
0
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15. Travel Insurance and Assistance in the Asia-Pacific Region
What are some of the key findings? (cont.)
4. Key findings from the executive summary include:
• the estimated number of foreign trips (lasting one night or more) across this region increased from
162 million in 2008 to 219 million in 2012, which equates to a compound annual growth rate of
7.8% during this period;
• most foreign travellers from these ten countries do not venture beyond the Asia-Pacific region
itself, and on average business trips account for around a fifth of all travel;
• across its various subsidiaries, AIG was found to be the leading insurance and assistance
provider in this region, as measured by the number of partnerships held with travel trade,
transportation and financial organisations;
• gross written premiums from stand-alone travel insurance and assistance are forecast to increase
to USD 5.24 billion in 2016 which, after taking inflation into account, would represent an increase of
5.6% per year between 2012 and 2016.
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© Finaccord Ltd., 2013
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16. Travel Insurance and Assistance in the Asia-Pacific Region
What is the cost and format?
Travel Insurance and Assistance in the Asia-Pacific Region is available as a standard PDF document.
The PartnerBASE™ and market data annexe that accompany it at no further charge are in Excel format.
Costs for this research set, other international titles on the same subject and other related titles available
at the time of publication are as follows:
REPORT
PRICE *
Travel Insurance and Assistance in the Asia-Pacific Region
Travel Insurance and Assistance in the Middle East
Travel Insurance and Assistance in North and Latin America
Travel Insurance and Assistance in Northern, Central and Eastern Europe
Travel Insurance and Assistance in Southern and Western Europe
GBP 2,995
GBP 1,795
GBP 1,995
GBP 2,495
GBP 2,495
Insurance and Assistance linked to Payment Cards and Bank Accounts in Major Global Markets
Insurance and Assistance linked to Payment Cards and Bank Accounts in Northern, Central and Eastern Europe
Insurance and Assistance linked to Payment Cards and Bank Accounts in Southern and Western Europe
GBP 3,995
GBP 2,495
GBP 2,495
* For UK-based clients, VAT at the prevailing rate will be added to the basic price.
Costs quoted are for a single site user licence only.
For a corporate user licence, please see the final slide for further details.
Invoices can be paid in EUR or USD, at the prevailing exchange rate, if preferred.
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© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
16
17. Travel Insurance and Assistance in the Asia-Pacific Region
What other reports are available?
Country-specific reports about travel insurance and assistance in over 40 different countries are
also available, again as standard PDF documents with PartnerBASE™ datasets and market data
annexes both in Excel format. Prices for each country are as follows:
TRAVEL INSURANCE AND ASSISTANCE IN...
Argentina
Australia
Austria
Bahrain
Belgium
Brazil
Canada
Chile
China
Czech Republic
Denmark
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
795
795
595
595
595
795
795
795
795
595
595
Finland
France
Germany
Hong Kong
India
Indonesia
Ireland
Italy
Japan
Kuwait
Mexico
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
595
595
595
595
795
795
595
595
795
595
795
Netherlands
New Zealand
Norway
Oman
Poland
Portugal
Qatar
Romania
Russia
Saudi Arabia
Singapore
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
595
595
595
595
595
595
595
595
595
595
595
South Africa
South Korea
Spain
Sweden
Switzerland
Taiwan
Turkey
UAE
UK
USA
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
795
795
595
595
595
595
595
595
595
795
* For UK-based clients, VAT at the prevailing rate will be added to the basic price.
Costs quoted are for a single site user licence only.
For a corporate user licence, please see the final slide for further details.
Invoices can be paid in EUR or USD, at the prevailing exchange rate, if preferred.
For acquisition of multiple reports, please contact Finaccord - discounts may be available.
Expertise in financial services
© Finaccord Ltd., 2013
Web: www.finaccord.com. E-mail: info@finaccord.com
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18. Travel Insurance and Assistance in the Asia-Pacific Region
How can the research be purchased?
Simple. Just go to the relevant area of the Finaccord web site available at
www.finaccord.com/order_travel_insurance_assistance_reports.htm and fill in the online order
form, clearly indicating:
• report required
• type of corporate user licence, if required *
• billing name
• address and e-mail address
• purchase order number, if applicable
Please allow up to one working day for the delivery of electronic copy by e-mail.
* For the corporate user licence please choose one of the following options:
1. One office, one country: no supplement over and above basic cost of reports ordered
2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered
3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered
4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered
VAT at the prevailing rate will be added to the price of any corporate user licence acquired by UK-based buyers.
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