Based on a primary survey of over 6,000 consumers in France, Germany, Italy,
Poland, Spain and the UK carried out in the second half of 2012, the research
provides valuable data describing the extent to which consumers with debit and /
or credit cards take out card protection insurance.
In addition to calculating the percentage of cardholders holding card protection insurance in each country, the investigation also analyses the types of policy that they hold (i.e. insurance that they are paying for separately or 'free' cover), the range of features and services that they believe that their insurance includes, and the distribution channels and interfaces used to take out card protection insurance paid for separately.
Finally, the report measures the extent to which respondents with card protection insurance actually use their policy to make a claim or call for assistance, thereby calculating the implied annual ratio of usage to total policies in force.
Key features of this report include:
- robust analyses showing the percentage of cardholders that acquire card protection insurance in each country, the potential for this proportion to grow further and how cross-selling rates differ between debit and credit cards;
- the key segmentation of insured respondents between those that report acquiring their card protection policy at no additional cost (i.e. bundled with an added value account or payment card) and those making a separate payment for it;
- unique data describing the proportion of cardholders in each country stating that their insurance provides them with particular features and services, including whether it covers all of their own cards plus those of other family members;
- accurate statistics illustrating the extent to which sales of card protection insurance are made through remote interfaces (i.e. internet, telephone and post) as well as through face-to-face contact;- reliable information displaying how many insured cardholders in each country actually use their policy each year and, among those that do, whether they do so once, twice or three or more times.
0.0 EXECUTIVE SUMMARY
Acquisition rates for card protection insurance are highest in France by both main measures
Insurance penetration tends to increase with rising age and annual household income
Cardholders with both debit and credit cards are most likely to hold card protection insurance
Over 50% of policies reportedly cover multiple cards
As a six-country average, the three competing distribution channels have roughly equal importance
Online sales of card protection insurance have advanced furthest in Germany, Italy and the UK
Average annual policy utilisation rates stand at around one in seven customers
What is this report about?
European consumer research
Other international research reports
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