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Sector Analysis
UK Personal Insurance Distribution: Banks and Retailers
An affinity scheme is a partnership in which an insurer underwrites insurance to be distributed via another company whose primary product or service is not insurance. This includes banks and retailers which together account for just under a fifth of GWP from the personal lines market, with banks generating two thirds of this. Banks and building societies are strong within the home insurance market due to close links with mortgage arrangements, and also travel insurance where cover is often provided...
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Sector Analysis
UK Savings 2015: Forecasts and Future Opportunities
Low returns on balances and wages that are under pressure from inflation have made it difficult for UK consumers to grow their savings in recent years. At the same time, a recovery in consumer confidence has prompted a declining propensity to save. Retail deposits are predicted to rise at a CAGR of 4%, to reach £1,484bn by 2019, compared to 8% during 2000-07. Banks will have to use new strategies if they want to significantly grow this source of funding.