March 10, 2008 10:02 ET

Learn about the UK Personal Insurance Distribution 2007

LONDON, UNITED KINGDOM--(Marketwire - March 10, 2008) - announces that a new market research report related to the Financial services industry is available in its catalogue.

UK Personal Insurance Distribution 2007

The distribution of personal lines insurance is going through important changes, as new distributors challenge the market shares of traditional providers. This report analyzes the growth and decline of the main distribution channels, providing unique estimates and forecasts on personal lines distribution in the UK.

Datamonitor's unique distribution estimates by channel and platform Forecasts for the main distribution channels up to 2011, based on Datamonitor's unique model and interviews with industry executives Analysis of the main developments within each of the main distribution channels Forecasts for internet distribution of new and total sale up to 2011.

Bancassurers have lost ground in the household insurance market in recent years due to competition from direct writers and partnerships. However, in 2006, bancassurers were able to regain some market share as a result of a renewed focus on selling this core product. The direct channel failed to increase its share of the market in 2006. This is mainly a result of the fact that other players such as corporate partners, banks and some brokers have adopted distribution strategies akin to direct writers, by building up strong brand presences and using the internet and call centers to sell motor insurance. The growth in popularity of the internet as a platform through which consumers buy personal insurance, has also been aided by the increasing popularity of aggregator and price comparison sites such as and

Obtain a comprehensive understanding of the key trends driving the changes to personal insurance distribution in the UK Gain insight into the shifting consumer motivations and purchasing strategies for personal insurance Plan your distribution strategy with confidence using Datamonitor's channel and platform distribution forecasts.

Overview 1

Catalyst 1

Summary 1

Methodology 1

Table of Contents 2

Introduction 3

Who is the target reader? 3

Changes to the format of the Competitor Tracker in 2007 3

The Payment Card Competitor Tracker is now organized by theme 3

An extended, topic-driven commentary replaces the Cards & Payments Team view 3

How to use the Payment Card Competitor Tracker 4

Product, Services and Innovation 6

Roundup of the key developments in Q4 2007 6

Card product developments 6

Several issuers took advantage of the holiday season by launching gift cards 6

Environmental and charitable concerns remain at the core of several new products 6

Issuers have been busy issuing premium products 6

ANZ Bank has developed a loyalty program based on repayments 6

Issuers continue to see value in co-branded products 7

Processor product and service developments 7

First Data launches new merchant acquiring business in Canada 7

New technologies and product innovation 7

Issuers are increasingly using dedicated sites to reach to and educate their customers 7

Mobile payments remain firmly on the agenda 8

American Express 8

Cambodia: American Express launches card with MekongBank 8

US: American Express launches customizable gift card 8

US: American Express announces free delivery on gift cards for the holiday season 8

US: American Express announces fee-free gift card promotion 9

US: American Express offers free gift card with online purchase 9

US: American Express introduces online donation program 9

ANZ Bank 9

Australia: ANZ Bank offers rewards based on repayments 9

Australia: ANZ launches new website for women 10

Bank of America 10

US: Bank of America launches Brighter Planet credit card 10

US: Bank of America's Mobile Banking announces strong growth 11

US: Bank of America launches Quarter Back Sweepstakes 11

US: Bank of America launches online banking microsite 11

US: Bank of America unveils new cash handling device 11

US: Bank of America re-launches BankAmericard credit card 11

Barclaycard 12

UK: Barclays launches gift card for Christmas 12


Europe: BBVA completes SEPA credit transfers testing 12

Mexico: BBVA Bancomer deploys 13,000 mobile POS terminals in Mexico 12

Capital One 13

US: Capital One and NetSpend expand agreement 13

US: Capital One launches "Card Lab" online tool 13

Citigroup (incl. Diners Club) 13

Asia-Pacific: Citibank and DiGi offer SMS global remit 13

Asia-Pacific: Citi Malaysia offers SMS payment service 14

Bahrain: Citibank offers global service to customers 14

Belgium: Citibank introduces Citi Travel Pass MasterCard 15

Belgium: Citibank offers product to spread fuel payments 15

Greece: Citibank offers card reward program aimed at men 15

Greece: January Citibank Card purchases support charity 16

Hungary: Citibank offers global service to customers 16

Hungary: Citibank launches photo debit card 16

Japan: Citibank offers new service for Citigold customers 17

Japan: Citibank launches e-Savings online savings account 17

Korea: Citibank customers encouraged to switch to electronic statements 17

Malaysia: Citibank offers global service to customers 18

Malaysia: Citibank & Shell launch Shell Citibank Credit Card 18

Philippines: Citibank announces "green" credit card campaign 18

Philippines: Citibank offers midnight shopping to card holders 18

Philippines: Citibank and Rustan's launch Christmas shopping campaign 19

Romania: Citibank facilitates bill payments collection in rural areas 19

Russia: Citibank Introduces 10% cash back on card purchases 19

Singapore: Citibank launches online portal 19

Thailand: Citibank launches rewards scheme with Thai Airways 20

Thailand: Citibank center offers extended service hours during holiday season 20

UAE: Citibank-Damas promotion gives away Dh1 million ($272,000) a month 20

UAE: Citibank offers global service to customers 20

UK: Citi offers added incentives to Polish nationals 21

UK: Citibank announces global payments service with Equiniti 21

US: Citibank announces fee-free money transfer to Mexico 21

Discover 22

PULSE introduces the DebitProtect fraud detection system 22

US: Discover launches Credit ScoreTracker 22

US: Discover Card launches eGift card 22

Erste Bank 22

Austria: Erste Bank introduces Junior ProfitCard for young savers 22

First Data 22

Canada: First Data announces new merchant acquiring business in Canada 22

GE Money 23

Poland: GE Money and Ryanair introduce co-branded credit card 23

Switzerland: GE Money, Migros unveil personalized credit card 23

UK: GE Money announce arrival of mobile phone financial system 23

US: GE Money announces the launch of co-brand card partnership with Joe's Sports & Outdoor 23

US: GE Money renews co-brand card agreement with Thomasville Furniture Industries 24

US: GE Money and the NTA extend co-brand card deal 24

JCB 24

Group: JCB mobile contactless development through Gemalto 24

JP Morgan Chase 25

US: Chase launches World MasterCard for business 25

US: Chase launches debit card usage promotion 25

US: Chase announces expansion of credit card pricing scheme 25

US: Chase and Continental Airlines introduce World MasterCard 25

US: Chase offers Chase gift cards 26

MasterCard 26

Germany: MasterCard Worldwide launches travel data solution 26

US: MasterCard launches Payment Gateway 26

US: MasterCard launches World MasterCard for business 27

RBS 27

UK: NatWest & RBS update on Use Cash Machine Initiative 27

UK: RBS trials mobile payments 27

Standard Chartered 28

Thailand: 5% cash back with Standard Chartered credit card and Caltex 28


China: CUP Data Completes Data Conversion in China 28

Visa 28

Australia: VCARD launched in Australia 28

Europe: Visa Europe presenting multi-application cards 29

Europe: Visa Europe launches Instant Issuance Solution 29

Europe: Visa Europe and Monitise plc developing mobile prepaid shopping voucher 30

Europe: V PAY card issuing commitments at 20 million 30

Global: Visa announces more mobile payment trials 30

Hong Kong: Visa's short term promotional campaign in Hong Kong International Airport 31

India: Visa Money Transfer on mobile in India 31

Switzerland: Visa payWave launched 32

UK: Visa Europe announces first large scale UK mobile pilot for payments 32

M&A, Partnerships and Organic Growth 34

Roundup of the key developments in Q4 2007 34

Merger and acquisition activity 34

New partnerships and contract renewals 34

Organic growth and expansion 34

American Express 34

Lithuania: American Express launches card with Parex Bankas 34

US: First Data and American Express sign sales and servicing agreement 35

US: American Express forms gift card partnership with Bank of America 35

US: American Express accepted at Food Lion Stores 35

US: American Express and Simon Property Group launch joint gift card 35

US: American Express announces marketing partnership with Clear 36

US: American Express adds Virgin and Hawaiian Airlines to Flight Finder 36

ANZ Bank 36

Australia: ANZ opens its 80th branch 36

Bank of America 37

US: Bank of America launches partnership with Health Net 37

US: Bank of America completes purchase of LaSalle Bank 37

Capital One 37

US: Capital One and NetSpend expand agreement 37

Citigroup (incl. Diners Club) 37

Hungary: Citibank opens banking center in Budapest 37

Erste Bank 38

Croatia: Erste Bank sells stake in Diners Club Adriatic 38

Slovenia: Erste Bank announces cooperation with Karntner Sparkasse 38

First Data 38

Asia-Pacific: First Data and Standard Chartered launch joint venture 38

Brazil: First Data completes acquisition of Check Forte 39

Canada: First Data to provide processing services for Tim Hortons pre-paid card 39

Canada: First Data launches merchant acquiring business in Canada 39

Europe: First Data to support Societe Generale Consumer Finance expansion 39

Ireland: First Data acquires Deecal 40

Russia: First Data signs processing contract with Moskommertsbank 40

US: First Data renews contract with National City Bank 40

US: First Data's Telecheck and Meijer reach electronic check acceptance agreement 41

US: First Data to offer MasterCard Payment Gateway 41

US: First Data and StoreNext to provide check acceptance to grocers 42

US: First Data and American Express sign sales and servicing agreement 42


China: HSBC begins rural bank operations in central China 42

Latin America: HSBC to expand branch network in Peru 42

Taiwan: HSBC to acquire The Chinese Bank 43

JCB 43

China: JCB record cardholder progress in China 43

JP Morgan Chase 43

US: First USA and Webster Bank renew credit card agreement 43

US: First USA and Smart Choice announce partnership 43

KBC 44

Russia: KBC and Absolut Bank detail Russian expansion strategy 44

MasterCard 44

US: First Data to offer MasterCard Payment Gateway 44

Discover 44

US: Discover enters into issuer processor agreement with TSYS 44

US: Discover announce alliance with Jones Long LaSalle 44

Nordea 44

Sweden: Nordea enters into agreement with Svensk Kassaservice 44

RBS 44

Group: Updates on the acquisition of ABN AMRO by Fortis, RBS and Santander 44

Standard Chartered 45

China: Standard Chartered opens regional call center 45

Hong Kong: Change of CEO in Standard Chartered Hong Kong 45

Hong Kong: Standard Chartered opens Wanchai branch 45

Hong Kong: Standard Chartered opens SME Banking Center in Mongkok 45


Global: TSYS to offer Paymentflex credit system 45

Visa 46

Asia-Pacific: Partnership agreement with 46

Westpac 46

Westpac ends Virgin credit card partnership 46

Staffing and Strategy 47

AEON Credit Service 47


Spain: BBVA restructures Spanish business 47

Capital One 47

US: Capital One appoints senior executive 47

Citigroup (incl. Diners Club) 47

Taiwan: Citi adopts five-pronged strategy to grow small & medium enterprise market 47

Erste Bank 48

Austria: Erste Bank announces Austrian growth plans 48

Romania: Erste Bank appoints interim CEO 48

JP Morgan Chase 48

Australia: JP Morgan announces board changes 48

US: JP Morgan announces new phase of Euro Payments Strategy 49

KBC 49

Poland: Kredyt Bank implements management changes 49

MasterCard 49

US: MasterCard reports new appointments 49


Group: TSYS to become fully independent 50

Visa 50

Asia-Pacific: COO appointed for Visa Inc., Asia Pacific 50

Europe: European Commission decision on Visa Europe and Morgan Stanley Dean Witter 50

Group: Visa Inc. completes global restructuring 51

Group: Visa Inc. files for proposed initial public offering 51

Group: Visa and American Express settle legal dispute 51

US: Visa mandates use of secure payment software 51

US: Visa and TJX agree to provide US issuers data breach claims 52


Methodology 53

Further reading 53

Ask the analyst 53

Datamonitor consulting 53

Disclaimer 53

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UK Personal Insurance Distribution 2007

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