Auto Insurance industry's collision with driverless cars

Best Insurance cars for used and new cars in Europe

insurance in each country, to calculate average customer take-up rates for GAP insurance at the point of sale, and to understand relationships between manufacturers or importers and external GAP insurance providers for branded or endorsed programs.

What is the rationale?

The automotive manufacturing market, globally as well as in Europe, has long been highly cyclical

and prone to low or non-existent profitability as a consequence of the tough competition that exists

between manufacturers.

As a result, a key issue for automotive manufacturers is to increase the value of revenues that they

extract from customers through the provision of ancillary services, including GAP insurance.

Furthermore, the thin margins that car dealerships and importers can secure on vehicle sales in

isolation can be boosted by cross-selling related services, most importantly financial services such

as GAP insurance.

The market for GAP insurance for new and used cars, which Fin accord's research indicates to be

worth about EUR 879.6 million in gross premiums and other revenues across Europe, is therefore a

significant battleground. This study and its accompanying Partnership database and market

data file represent systematic, published research on the subject across Europe providing

unrivaled insight about it Insurance cars

What is the report structure?

0. Executive Summary: providing a concise evaluation of the principal findings of the report.

1. Introduction: offering a rationale, a detailed description of methodology and definitions

2. European Overview. comprising an overview of the market for GAP insurance for new and used

.cars across the 25 countries Insurance cars motor insurance

 Analyses include: trends in sales of new and used passenger

vehicles; comparison of key metrics describing the behaviour of dealers in this market; comparison auto insurance

of average customer take-up rates for stand-alone GAP insurance; and calculation of the market

size, in terms of gross written premiums and other revenues in each country, for GAP insurance for

new and used cars in Europe Insurance cars

3. Austria: an in-depth analysis of the market for GAP insurance for new and used cars in Austria

including: an overview of the market for new and used passenger cars; dealer survey results

including analysis of the use of GAP insurance programs branded or endorsed by manufacturers

(tied providers) as opposed to contracts provided by independent insurers (non-tied providers)

manufacturer importer survey results, including partners used for branded or endorsed GAP

insurance schemes; and combined analysis of implied provider market shares

What are the key features of the research?

Key features of this report include: go compare insurance 

comparable and standardized data concerning GAP insurance for new and used cars covering a

total of 25 countries in Europe ranging from mature territories, such as France and the UK, to fast-motor insurance

developing markets, such as Russia and Turkey

provision of market size and segmentation data for all of these markets generated from Fin accord's

proprietary European Automotive Financial Services Model;

analysis of the average number of providers of GAP insurance used by dealers and the degree to

which they collaborate with non-tied companies in addition to tied partners;

data showing the average take-up rates for GAP insurance at the point of sale among buyers of

both new and used cars;

in both the report and the accompanying Partnership database, identification of both leading

and secondary non-tied providers of GAP insurance used by dealerships plus relationships between

manufacturers or importers and external companies for branded or endorsed GAP insurance

schemes

How can the research be used?

You may be able to use this report plus the PartnerBASETM and market data file that accompany it

in one or more of the following ways:

understand the current size and future potential of the market for GAP insurance for new and used go compare insurance

cars on a Europe-wide basis;

appreciate the extent to which dealerships favour promoting manufacturer-branded GAP

insurance as opposed to policies sourced from non-tied insurance providers;

benchmark the degree of competitive intensity recorded by the research for distributing GAP

insurance through the point of sale;

evaluate the potential for establishing partnerships with manufacturer brands or their local

importers for branded or endorsed GAP insurance programs;

track the involvement in this field of leading national and international competitors including Aioi

Nissay Dowa, Allianz, AutoProtect, BNP Paribas Cardif, Crédit Agricole, Genworth Financial,

MAPFRE Asistencia, PSA Insurance, QBE and Vienna Insurance Group.

Who can use the research?

1. Automotive manufacturers: this research provides a wealth of unique and valuable

benchmarking data allowing you to assess objectively the status of GAP insurance for new and which car insurance

used cars on a Europe-wide basis

2. Underwriters and brokers of GAP insurance: what are the opportunities to increase or build

market share within the GAP insurance markets of each country by means of distribution modified car insurance

alliances with manufacturer brands, importers or dealers?

3.

Finance and leasing companies: in some countries, it is common for GAP insurance to be

embedded in consumer finance and leasing packages hence i is important for providers in

these areas to comprehend fully the apparent opportunities

4. Management consultancies: are you helping a manufacturer or insurance provider with its

strategy or evaluating how it can develop its business in GAP insurance for new and used cars

in Europe? Understand the current status of this market across 25 countries, saving time and

effort on researching the subject yourself.

What are some of the key findings? (cont.)

4. Key findings from the executive summary include:

Finaccord estimates that the market across all 25 countries was worth EUR 879.6 million in 2012

and that while growth in recent years may have been held back by falling sales of new cars in most

countries, it will have been boosted by increasing provision via dealers and manufacturer brands;

according to the survey, provision rates for GAP insurance rates among dealers are highest in

France, the UK and Germany at 94.1%, 92.5% and 87.0%, respectively, followed by Slovakia

(85.0%), Poland (83.6%), Italy (68.8%) and the Czech Republic (66.0%);

across countries in which at least one dealer reported offering GAP insurance and calculated on

an unweighted basis, 69.2% worked only with tied providers, 25.5% sold only non-tied products and

5.2% distributed GAP cover from both sources;

with involvement in the GAP insurance markets of 11 countries, Allianz (sometimes via Allianz

Global Assistance) is present in the most followed by BNP Paribas Cardif n seven), PSA

Insurance (in six) and Gen worth Financial (in five)

What is the cost and format?

GAP Insurance for New and Used Cars in Europe is available as a standard PDF document. The

PartnerBASET and market data file that accompany it at no further charge are in Excel format.

Costs for this research set and other related multi-country titles about automotive financial services

are as follows

 GAP Insurance for New and Used Cars in Europe GBP 1,995

Automotive Finance and Leasing for Consumers in Emerging Global Markets GBP 1,995

Automotive Finanoe and Leasing for Consumers in Europe GBP 2,995

Consumer Automotive Financial Services in Emerging Global MarketsGBP 3,995

Extended Warranies for New and Used Cars in Emerging Global Markets GBP 2,995

Extended Warranties for New and Used Cars in Europe GBP 2,995

Fleet Insurance and Assistance in Europe GBP 2,995

Manufacturer-Branded and Dealer-Intermediated Motor Insurance and Road Assistanoe in Emerging  

Global Markets

Manufacturer-Branded and Dealer-Intermediated Motor Insurance and Road Assistanoe in Europe

Road Assistance in Europe 

For UK-based dients, VATat the prevailng rate will be added to the basic price. 

Costs quoted are for a single site user licence onily 

For a corporate userlicence, please see the final slide for further details. GBP 2,995

Invoices can be paid in EUR, at the prevailing exchange rate, if preferred GBP 1,995

For acquisition of mutiple reports, please contact Finaccord -discounts may be available. GBP 1,995

 By : Intelligo Consulting