This report will focus on the role of retailers in the affinity channel within the personal lines market. Within this report we will detail the size of the channel in GWP, highlight which products work best in this space, profile the main retailers, and examine the critical success factors for both retailers and insurers.
Gain an insight into retailers financial services strategy, number of customers, and target demographics.
Identify the most popular type of partnerships adopted and who the partnerships are with.
Plan your affinity strategy by assessing the benefits and barriers to entry.
How did the affinity distribution channel fare in terms of GWP and market share within total personal lines in the UK and what is the future outlook?
What are the main retail brands in the insurance affinity market and what are their profiles, strategies, and customer targets?
How does a retail brand enter the affinity market?
What are the channels main strengths, weaknesses, opportunities, and threats? How do benefits compare to the barriers to entry and risks?
Which product lines are most popular with retail brands?
The retail affinity market was initially negatively impacted by the recession; however, since 201112 both insurers and retailers have shown an increased interest in insurance partnerships.
The main retail brands in the insurance business in the UK are Tesco, Sainsburys, M&S, The Co-operative, John Lewis, Post Office, and Asda, but there are also some new entrants to consider.
There are three major business models in the market, but they are continually evolving and interconnecting with each other.