The 2008 World Insurance Report (WIR) explores current distribution models and changes in channel usage, and also takes an in-depth look at successful versus at-risk multi-channel strategies. Find out what’s driving multi-channel usage in mature markets and how changing customer profiles and behaviors are impacting today’s insurance practices.

The report identifies growth opportunities for leading insurance companies and features insightful approaches for transforming current insurance practices into tomorrow’s winning strategies. The WIR also explores how bancassurance is emerging as an alternative channel, how it is viewed by customers, and the upcoming disruptive market forces likely to challenge it

Produced by Capgemini and the European Financial Marketing Association (Efma), the World Insurance Report is based on extensive research including a survey of more than 11,000 insurance customers and in-depth insurance executive interviews from 12 countries (including 3 new countries this year: Switzerland, China, and India), along with key insights from Capgemini’s insurance solution experts.

Preface:

Capgemini and the European Financial Management & Marketing Association (EFMA) are proud to present the second edition of the World Insurance Report (WIR).

Mature insurance markets are showing clear signs of saturation, requiring insurers to be innovative in their approach to achieving sustainable growth. Against that backdrop, the 2008 World Insurance Report explores underlying trends in customer behavior and attitudes, the current and future use of distribution networks, and the implications for insurers.

Our research is based primarily on a survey of more than 11,000 insurance customers, though we also interviewed industry executives in thirteen countries to round out our understanding of the results. We surveyed customers on actual purchasing habits, expected future purchasing patterns, and their insurance-buying attitudes, preferences and perceptions. We surveyed customers in eight mature markets: seven are the same as in the 2007 WIR (France, Germany, Italy, the Netherlands, Spain, the U.K. and U.S.), and this year we surveyed Switzerland as well. The report focuses on these eight mature markets, plus, for the first time, two developing markets (China and India).

In studying the aggregate data, and in distinguishing between different country markets, we were able to identify some distinct behavioral-based customer segments, and compare how different customer segments use and favor different distribution networks.

Insurance customers’ use of distribution networks is on the verge of significant change, and some existing distribution models are at risk. The 2008 WIR sheds light on the strategic choices insurance companies must make to sustain growth in mature markets.

The report also offers a spotlight on the two fast-growing developing markets of India and China, which present fundamentally different issues—evolving around pressure for customer acquisition—for insurance companies to overcome.

This report adds to Capgemini’s portfolio of annual industry leading World Reports (The World Wealth Report, The World Retail Banking Report, and The World Payments Report). These reports have provided financial services institutions with valuable insights into the current and future state of their respective markets for the past 10 years.

Bertrand Lavayssière
Managing Director
Global Financial Services
Capgemini
Patrick Desmarès
Secretary General
European Financial Management & Marketing Association

Download World Insurance Report 2008

PDF format, 1.19MB, 60Pages.

Table of Contents:

5 Preface
6 Summary of Key Findings
9 CHAPTER 1
Insurance Business Models are Poised for Change
15 CHAPTER 2
Customers Are Falling into Very Distinct Behavioral/Attitudinal Segments
25 CHAPTER 3
Multi-Distribution Is on the Rise as Networks Specialize and Evolve
35 CHAPTER 4
Bancassurance: A Successful Network Leverages its Competitive Edge
40 Spotlight on Developing Markets: India and China
53 CHAPTER 5
Conclusion: Innovating to Achieve Growth in Mature Markets
57 Methodology
58 About Us

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ABOUT US:

CAPGEMINI
Capgemini provides deep industry experience, enhanced service offerings and next generation global delivery to serve the financial services industry. With a network of 15,000 professionals serving over 900 clients worldwide, we move businesses forward with leading services and best practices in Banking, Insurance, Capital Markets and Investments.

Our Global Insurance Centre of Excellence consistently delivers leading services that provide strategic value for the Insurance community. Our Centers of Excellence capture industry insights, best practices and the latest trends in techniques, tools and technology to continually upgrade solutions, help service new and existing clients and provide visionary, yet practical thought leadership.

As one of the world's foremost providers of Consulting, Technology and Outsourcing services, Capgemini enables its clients to transform and perform through technologies by providing its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working called the Collaborative Business Experience. Capgemini reported 2006 global revenues of EUR 7.7 billion and employs more than 80,000 people worldwide.

For more information, or to download our reports, visit www.capgemini.com/financialservices

THE EUROPEAN FINANCIAL MANAGEMENT & MARKETING ASSOCIATION
The European financial management and marketing association (EFMA) is the leading association of banks, insurance companies and financial institutions throughout Europe. On a non-for-profit basis, Efma promotes innovation and best practices in retail finance by fostering debate and discussion among peers supported by a robust array of information services and numerous opportunities for direct encounters.

Efma was formed in 1971 and gathers today more than 2,000 different brands in financial services worldwide, including 80% of the largest European banking groups. Visit www.efma.com

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