Table of Contents
0.0 EXECUTIVE SUMMARY
- Borrowers in France are most likely to have taken out some form of
mortgage insurance
- ... although the type and number of policies bought varies greatly from
one country to another
- Cover in the event of temporary incapacity is least commonly purchased by
Italian borrowers...
- ... while protection for unemployment is most frequently held by their
counterparts in the UK
- German borrowers are most likely to acquire ins. from a source other than
the original lender...
- ... and respondents in Spain show the least inclination to utilise a
remote distribution interface
- Instantaneous cross-selling of insurance to protect mortgage payments is
highest in France
- There is little evidence for mis-selling or customer dissatisfaction in
the mortgage prot. market
1.0 INTRODUCTION
- Finaccord
- European consumer research
- Creditor insurance
- Mobile telephone insurance
- Travel insurance
- European market, partnership and bancassurance research
- Research rationale
- Mainstream bancassurance markets are comparatively well documented...
- ... whereas creditor insurance is not
- Creditor insurance: a poorly understood "third" bancassurance market?
- The Creditor Metrics series offers vital benchmarking data for lending
insts. and underwriters
- Research methodology
- The research embraces a total of over 6,250 respondents across the five
countries
- Research strengths and weaknesses
- A mixed Internet and telephone research methodology produces balanced
results...
- ... that offer a representative picture of consumers with at least one
lending product
2.0 EUROPEAN OVERVIEW
- Introduction
- % of respondents holding a mortgage
- Respondents in Spain and the UK are most likely to possess a mortgage
- % of respondents with insurance that protects their mortgage payments
- French borrowers are most likely to have bought insurance to protect
mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without
cover
- Outside the UK, over 25% of the uninsured have simply not got round to
buying insurance
- Types of insurance used by respondents to protect mortgage payments
- UK borrowers holding insurance are most likely to have bought multiple
policies
- Risks covered by insurance used by resps. to protect mortgage
payments
- Borrowers reporting cover for temporary incapacity are most numerous in
France...
- ... while those in Italy are least likely to be have acquired protection
for unemployment
- Insurance used to protect mortgage payments - distribution channels
- The distribution share of the original lenders is weakest in Germany and
the UK
- Insurance used to protect mortgage payments - distribution
interfaces
- Spanish borrowers are most inclined to buy this insurance in a
face-to-face environment
- Insurance used to protect mortgage payments - point in time obtained
- Simultaneous sales of insurance to protect mortgages are most advanced in
France...
- ... while the potential for re-solicitation is apparently highest in
Germany
- Attitudes towards insurance protecting mortgages of resps. with
cover
- Very few borrowers regret having bought insurance to protect their
mortgage payments
3.0 FRANCE
- Introduction
- Research sample
- The research embraces a total of 1,232 respondents in France
- % of respondents holding a mortgage
- % of respondents with insurance that protects their mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without cover
- Types of insurance used by respondents to protect mortgage payments
- Risks covered by insurance used by resps. to protect mortgage payments
- Insurance used to protect mortgage payments - distribution channels
- Insurance used to protect mortgage payments - distribution interfaces
- Insurance used to protect mortgage payments - point in time obtained
- Attitudes towards insurance protecting mortgages of resps. with cover
4.0 GERMANY
- Introduction
- Research sample
- The research embraces a total of 1,210 respondents in Germany
- % of respondents holding a mortgage
- % of respondents with insurance that protects their mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without cover
- Types of insurance used by respondents to protect mortgage payments
- Risks covered by insurance used by resps. to protect mortgage payments
- Insurance used to protect mortgage payments - distribution channels
- Insurance used to protect mortgage payments - distribution interfaces
- Insurance used to protect mortgage payments - point in time obtained
- Attitudes towards insurance protecting mortgages of resps. with cover
5.0 ITALY
- Introduction
- Research sample
- The research embraces a total of 1,222 respondents in Italy
- % of respondents holding a mortgage
- % of respondents with insurance that protects their mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without cover
- Types of insurance used by respondents to protect mortgage payments
- Risks covered by insurance used by resps. to protect mortgage payments
- Insurance used to protect mortgage payments - distribution channels
- Insurance used to protect mortgage payments - distribution interfaces
- Insurance used to protect mortgage payments - point in time obtained
- Attitudes towards insurance protecting mortgages of resps. with cover
6.0 SPAIN
- Introduction
- Research sample
- The research embraces a total of 1,250 respondents in Spain
- % of respondents holding a mortgage
- % of respondents with insurance that protects their mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without cover
- Types of insurance used by respondents to protect mortgage payments
- Risks covered by insurance used by resps. to protect mortgage payments
- Insurance used to protect mortgage payments - distribution channels
- Insurance used to protect mortgage payments - distribution interfaces
- Insurance used to protect mortgage payments - point in time obtained
- Attitudes towards insurance protecting mortgages of resps. with cover
7.0 UNITED KINGDOM
- Introduction
- Research sample
- The research embraces a total of 1,340 respondents in the UK
- % of respondents holding a mortgage
- % of respondents with insurance that protects their mortgage payments
- Attitudes towards insurance protecting mortgages of resps. without cover
- Types of insurance used by respondents to protect mortgage payments
- Risks covered by insurance used by resps. to protect mortgage payments
- Insurance used to protect mortgage payments - distribution channels
- Insurance used to protect mortgage payments - distribution interfaces
- Insurance used to protect mortgage payments - point in time obtained
- Attitudes towards insurance protecting mortgages of resps. with cover
GRAPHICS / TABLES
- Sample breakdown across five European countries by age group
- Sample breakdown across five European countries by annual household income
- % of respondents in five European countries holding a mortgage, 2006
- % of respondents in five European countries holding insurance that
protects their mortgage payments, 2006
- % split of attitudes towards ins. that protects mort. payments of resps.
in five Euro. countries without cover, 2006
- Types of insurance used by respondents in five European countries to
protect mortgage payments, 2006
- Risks cov. by ins. used by resps. in five Euro. counts. to protect mort.
pays., 2006 (pen. among borrowers with ins.)
- Risks cov. by ins. used by resps. in five Euro. counts. to protect mort.
pays., 2006 (pen. among all borrowers)
- Distribution channels used by resps. in five Euro. countries to obtain
ins. used to protect mortgage payments, 2006
- Distribution interfaces used by resps. in five Eur. countries to obtain
ins. used to protect mortgage payments, 2006
- Point in time chs. by resps. in five Euro. counts. to obt. ins. used to
prot. mortg. pays., 2006 (anal. for borrs. with ins.)
- Point in time chs. by resps. in five Euro. counts. to obt. ins. used to
prot. mortg. pays., 2006 (analysis for all borrs.)
- % split of attitudes towards ins. that protects mort. payments of resps.
in five European countries with cover, 2006
- Sample breakdown in France by age group, household income band and
geographical location
- % of respondents in France holding a mortgage, 2006
- % of respondents in France holding insurance that protects their mortgage
payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in France without cover, 2006
- Types of insurance used by respondents in France to protect mortgage
payments, 2006 (1)
- Types of insurance used by respondents in France to protect mortgage
payments, 2006 (2)
- Risks covered by insurance used by respondents in France to protect
mortgage payments, 2006
- Distribution channels used by resps. in France to obtain insurance used to
protect mortgage payments, 2006
- Distribution interfaces used by resps. in France to obtain insurance used
to protect mortgage payments, 2006
- Point in time chosen by respondents in France to obtain insurance used to
protect mortgage payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in France with cover, 2006
- Sample breakdown in Germany by age group, household income band and
geographical location
- % of respondents in Germany holding a mortgage, 2006
- % of respondents in Germany holding insurance that protects their mortgage
payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Germany without cover, 2006
- Types of insurance used by respondents in Germany to protect mortgage
payments, 2006 (1)
- Types of insurance used by respondents in Germany to protect mortgage
payments, 2006 (2)
- Risks covered by insurance used by respondents in Germany to protect
mortgage payments, 2006
- Distribution channels used by resps. in Germany to obtain insurance used
to protect mortgage payments, 2006
- Distribution interfaces used by resps. in Germany to obtain insurance used
to protect mortgage payments, 2006
- Point in time chosen by respondents in Germany to obtain insurance used to
protect mortgage payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Germany with cover, 2006
- Sample breakdown in Italy by age group, household income band and
geographical location
- % of respondents in Italy holding a mortgage, 2006
- % of respondents in Italy holding insurance that protects their mortgage
payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Italy without cover, 2006
- Types of insurance used by respondents in Italy to protect mortgage
payments, 2006 (1)
- Types of insurance used by respondents in Italy to protect mortgage
payments, 2006 (2)
- Risks covered by insurance used by respondents in Italy to protect
mortgage payments, 2006
- Distribution channels used by resps. in Italy to obtain insurance used to
protect mortgage payments, 2006
- Distribution interfaces used by resps. in Italy to obtain insurance used
to protect mortgage payments, 2006
- Point in time chosen by respondents in Italy to obtain insurance used to
protect mortgage payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Italy with cover, 2006
- Sample breakdown in Spain by age group, household income band and
geographical location
- % of respondents in Spain holding a mortgage, 2006
- % of respondents in Spain holding insurance that protects their mortgage
payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Spain without cover, 2006
- Types of insurance used by respondents in Spain to protect mortgage
payments, 2006 (1)
- Types of insurance used by respondents in Spain to protect mortgage
payments, 2006 (2)
- Risks covered by insurance used by respondents in Spain to protect
mortgage payments, 2006
- Distribution channels used by resps. in Spain to obtain insurance used to
protect mortgage payments, 2006
- Distribution interfaces used by resps. in Spain to obtain insurance used
to protect mortgage payments, 2006
- Point in time chosen by respondents in Spain to obtain insurance used to
protect mortgage payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in Spain with cover, 2006
- Sample breakdown in the UK by age group, household income band and
geographical location
- % of respondents in the UK holding a mortgage, 2006
- % of respondents in the UK holding insurance that protects their mortgage
payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in the UK without cover, 2006
- Types of insurance used by respondents in the UK to protect mortgage
payments, 2006 (1)
- Types of insurance used by respondents in the UK to protect mortgage
payments, 2006 (2)
- Risks covered by insurance used by respondents in the UK to protect
mortgage payments, 2006
- Distribution channels used by resps. in the UK to obtain insurance used to
protect mortgage payments, 2006
- Distribution interfaces used by resps. in the UK to obtain insurance used
to protect mortgage payments, 2006
- Point in time chosen by respondents in the UK to obtain insurance used to
protect mortgage payments, 2006
- % split of attitudes towards insurance that protects mortgage payments of
resps. in the UK with cover, 2006
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