市場調査レポート

マレーシアのバンカシュアランス市場: 生命保険、損害保険、および債権者保険

Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance

発行 Finaccord Ltd. 商品コード 310699
出版日 ページ情報 英文 59 Pages
納期: 即日から翌営業日
価格
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マレーシアのバンカシュアランス市場: 生命保険、損害保険、および債権者保険 Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance
出版日: 2014年07月01日 ページ情報: 英文 59 Pages
概要

当レポートはマレーシア国内の銀行および他の貸付機関が扱っている生命保険、損害保険、および債権者保険の市場を精査しています。マレーシア国内の銀行50行の調査結果に基づき、13種の保険商品についての各銀行の取り扱い率を明らかにしています。また、扱っている保険商品についての銀行それぞれの運営モデル(外部保険業者利用、保険業者との合弁事業、または専属の保険引き受け業者利用など)や、銀行ならびにその提携保険会社のシェアについても詳細に検証・分析しています。

エグゼクティブ・サマリー

第1章 序論

  • 当レポートについて
  • 調査の背景
  • 調査手法
  • 市場データ
  • 定義
  • PartnerBASE
  • Finaccordについて

第2章 市場の背景

  • 調査対象とした銀行および他の貸付機関
  • バンキング業界へのイントロダクション
    • 顧客数に基づく上位10行はマレーシアの現地企業であり、その幾つかは東南アジア諸国に事業を拡張している
    • 外資系銀行は銀行システムの全資産の内の約23%を占めており、イスラム系の銀行が約21%となっている
    • 保険市場全体の中で、シャリーア法準拠のタカフル保険がかなりの割合を占めている

第3章 投資関連の生命保険および退職貯金

  • 保険市場規模と市場成長
  • 主要銀行の取り扱いシェア
  • バンカシュアランス商品の提供率、運営モデル、および企業提携
    • 投資関連生命保険
    • 退職貯金
    • 主なバンカシュアランス保険業者の実績

第4章 保障関連の生命保険

  • 保険市場規模と市場成長
  • 主要銀行の取り扱いシェア
  • バンカシュアランス商品の提供率、運営モデル、および企業提携
    • ハイリスク生命保険
    • 重症疾病保険
  • 主なバンカシュアランス保険業者の実績

第5章 傷害保険および健康保険

  • 保険市場規模と市場成長
  • 主要銀行の取り扱いシェア
  • バンカシュアランス商品の提供率、運営モデル、および企業提携
    • 傷害保険
    • 医療保険
    • 健康保険/病院キャッシュプラン
  • 主なバンカシュアランス保険業者の実績

付表・付図

目次

Bancassurance in Malaysia: Life, Non-Life and Creditor Insurance is a study and related PartnerBASE™ dataset examining the provision of life, non-life and creditor insurance by banks and other lending institutions in Malaysia.

Drawing on the results of a survey of 50 banking entities in Malaysia, the study verifies the percentage of organisations investigated that distribute each of the following 13 types of insurance: accident insurance, creditor insurance related to consumer finance, creditor insurance related to credit cards, creditor insurance related to mortgages, critical illness insurance, health / hospital cash plans, household insurance, income protection insurance, investment-related life insurance, medical expenses insurance, personal motor insurance, retirement savings, and risk life insurance.

For those banking entities that are active in one or more of these fields, the reports ascertain the operating models that they use to source the type of insurance in question (e.g. external, joint venture or captive underwriters) and the identity of the specific providers used. This information is then displayed in terms of the weighted share of partnerships of these providers, which takes into account the number of retail customers of the partner banking entities, thus highlighting those insurance companies that hold the distribution relationships that offer the most potential.

You may be able to use this report, plus the PartnerBASE™ dataset and market data annexes that accompany it, in one or more of the following ways:

  • gain access to a source of information that provides a comprehensive overview of the provision of personal insurance products by all significant banking entities in Malaysia;
  • identify partnership opportunities for the same personal insurance products that may arise either because a banking institution is not currently active or because there is scope for replacing an existing initiative;
  • understand which underwriters and other product providers have been successful in establishing distribution relationships with the most important banking entities in Malaysia;
  • assess the background to the most significant bancassurance deals, differentiating between those that originate from long-term or strategic objectives and those that are more transient;
  • appreciate the magnitude of the opportunity to sell personal insurance products through banks and other lending institutions in Malaysia.

Overall, in a market in which banks hold a steadily advancing position in the life insurance sector, a significant share of non-life insurance and an importance presence in the market for Shariah-compliant takaful products, across the 50 banks and other lending institutions researched in Malaysia, Finaccord's research identified over 250 bancassurance distribution initiatives for the various types of insurance investigated.

Table of Contents

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

  • What is this report about?
    • Distribution partnerships with banks and other lending institutions constitute the focus of this report
  • Rationale
    • Bancassurance offers a significant distribution channel for life and non-life insurance in Malaysia and is also fairly important for Shariah-compliant takaful products
  • Methodology
    • Survey of banks and other lending institutions
  • Market data
  • Definitions
    • Investment-related life insurance
    • Retirement savings
    • Risk life insurance
    • Critical illness insurance
    • Income protection insurance
    • Accident insurance
    • Health / hospital cash plans
    • Medical expenses insurance
    • Personal motor insurance
    • Household insurance
    • Creditor insurance
    • Mortgages, consumer finance and credit cards
    • Weighted provider share of partnerships
    • Operating models
  • Abbreviations and exchange rates
  • PartnerBASE and market data annexe
  • Finaccord

2.0 MARKET BACKGROUND

  • Banks and other lending institutions covered
  • Introduction to the banking sector
    • The top ten banks by number of retail customers are all indigenous Malaysian entities and several are expanding elsewhere in south-east Asia
    • Foreign banks account for around 23% of the banking system's total assets and Islamic banking entities for around 21%
    • Shariah-compliant takaful insurance is also a significant segment within the overall insurance market

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Insurance market size and growth
    • The market for investment-related life insurance has delivered steady growth in recent years
    • The private retirement savings market in Malaysia remains in an embryonic state with the Private Retirement Scheme (PRS) having been introduced quite recently
    • Consumer interest in both annuities and PRS funds has been muted
  • Distribution share of banks
    • The distribution share of banks in life insurance has been advancing gradually and is highest (as might be expected) in the single premium segment
  • Bancassurance provision rates, operating models and partnerships
    • Investment-related life insurance
      • The Malaysian bancassurance market is characterised by a significant number of joint ventures among which Etiqa is prominent in several fields, including investment-related life insurance
      • Sun Life entered into a long-term bancassurance partnership with CIMB Group in January 2013
      • AIA's purchase of ING Malaysia allowed it to inherit a pre-existing bancassurance deal with Public Bank
      • The third-ranked competitor is a specialist in family takaful products
      • AXA and Affin Holdings set up their bancassurance joint venture in 2006
      • MetLife bought into AmBank Group's bancassurance subsidiaries in April 2014 and Prudential expanded its joint venture relationship with BSN in the same month
      • Several other distribution agreements are determined by strategically-driven multi-country initiatives including that of Allianz with HSBC and that of Prudential with Standard Chartered
    • Retirement savings
      • A number of banks also offer products designed specifically for retirement savings sourced either from insurance companies or asset management firms
      • Captive and joint venture providers control a significant proportion of partnerships in this sphere
    • Performance of key bancassurance underwriters
      • Bank-owned life insurers sell through a variety of distribution channels in addition to bank branches hence their market share is a lot higher than the distribution share of banks would imply
      • Bank-owned life insurers are likely to be significant players in the family takaful market

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Insurance market size and growth
    • The market for protection-related life insurance has grown at a real compound annual rate of 4.6%
  • Distribution share of banks
  • Bancassurance provision rates, operating models and partnerships
    • Risk life insurance
      • Risk life insurance policies are promoted by a majority of banking institutions surveyed with the leading bancassurers similar to those for investment-related life insurance
      • Manulife entered into a ten-year bancassurance agreement with Alliance Bank in June 2013
    • Critical illness insurance
      • Stand-alone critical illness cover is available from around one quarter of Malaysian banks
    • Income protection insurance
  • Performance of key bancassurance underwriters

5.0 ACCIDENT AND HEALTH INSURANCE

  • Insurance market size and growth
    • Health insurance premiums grew at a nominal compound annual rate of 15.3% between 2009 and 2013
  • Distribution share of banks
    • Banks' share of distribution for total non-life insurance has apparently declined in recent years
  • Bancassurance provision rates, operating models and partnerships
    • Accident insurance
      • By weighted share of partnerships, Etiqa is ranked first mainly due its use by Maybank and is followed by Prudential BSN Takaful, MSIG, Syarikat Takaful Malaysia and Takaful Ikhlas
    • Medical expenses insurance
      • The provision rate for medical expenses cover is lower than that for accident insurance with Prudential BSN Takaful ranked first in this field
      • A total of ten different insurance providers have secured bancassurance deals in this arena
    • Health / hospital cash plans
      • Banks are less likely to offer health or hospital cash plans than other types of accident and health policy and only six insurance providers have secured bank distribution deals for them
  • Performance of key bancassurance underwriters
    • The market share of key bancassurance underwriters in total non-life insurance remains fairly constant

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

  • Overview of bancassurance provision rates for different types of insurance in Malaysia, 2014

1.0 INTRODUCTION

  • Banks and other lending institutions in Malaysia contacted by Finaccord, segmented by type

2.0 MARKET BACKGROUND

3.0 INVESTMENT-RELATED LIFE INSURANCE AND RETIREMENT SAVINGS

  • Gross written premiums for investment-related life insurance and retirement savings in Malaysia, 2009
  • 2013
  • Gross written premiums for investment-related life insurance and retirement savings in Malaysia, 2009
  • 2013 (table)
  • Distribution share of banks in total (non-takaful) life insurance in Malaysia, 2010 to 2013
  • Bancassurance provision of investment-related life insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of retirement savings in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) life insurance of key bancassurance underwriters in Malaysia, 2008
  • 2012

4.0 PROTECTION-RELATED LIFE INSURANCE

  • Gross written premiums for protection-related life insurance in Malaysia, 2009 to 2013
  • Gross written premiums for protection-related life insurance in Malaysia, 2009 to 2013 (table)
  • Bancassurance provision of risk life insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of critical illness insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships

5.0 ACCIDENT AND HEALTH INSURANCE

  • Gross written premiums for accident and health insurance in Malaysia, 2009 to 2013
  • Gross written premiums for accident and health insurance in Malaysia, 2009 to 2013 (table)
  • Distribution share of banks in total non-life insurance in Malaysia, 2008 to 2012
  • Bancassurance provision of accident insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of medical expenses insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of health / hospital cash plans in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) non-life insurance of key bancassurance underwriters in Malaysia, 2008 to 2012
  • Market share in total (non-takaful) accident and health insurance of key bancassurance underwriters in
  • Malaysia, 2008 to 2012

6.0 PERSONAL MOTOR AND HOUSEHOLD INSURANCE

  • Gross written premiums for personal motor and household insurance in Malaysia, 2009 to 2013
  • Gross written premiums for personal motor and household insurance in Malaysia, 2009 to 2013 (table)
  • Bancassurance provision of personal motor insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Bancassurance provision of household insurance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Market share in total (non-takaful) motor insurance of key bancassurance underwriters in Malaysia, 2008 to 2012
  • Market share in total property insurance of key bancassurance underwriters in Malaysia, 2008 to 2012

7.0 CREDITOR INSURANCE

  • Residential mortgage lending balances outstanding in Malaysia (absolute and per capita), 2009 to 201346
  • Consumer non-mortgage lending balances outstanding in Malaysia (absolute and per capita), 2009 to 2013
  • Credit and other pay later cards issued and per capita in Malaysia, 2009 to 2013 48
  • Key data points for the consumer lending market in Malaysia, 2009 to 2013
  • Provision of creditor insurance linked to mortgages in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance linked to consumer finance in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Provision of creditor insurance linked to credit cards in Malaysia, 2014: provision rate, operating models and weighted provider share of partnerships
  • Risk coverage of creditor insurance policies in Malaysia, segmented by type of underlying product, 2014
  • Creditor insurance gross written premiums in Malaysia, segmented by policy type, 2009, 2013 and 2017
  • Creditor insurance gross written premiums in Malaysia, segmented by cover type, 2009, 2013 and 2017
  • Creditor insurance gross written premiums in Malaysia, segmented by policy and cover type, 2009, 2013 and 2017 (table)
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