The shifting balance of power

Size: px
Start display at page:

Download "The shifting balance of power"

Transcription

1 The shifting balance of power Consumer survey of financial services buying trends in Europe March 2015

2

3 The shifting balance of power Consumer survey of financial services buying trends in Europe Contents Page 4 Introduction Page 6 The financial crisis generation Page 9 The move towards market disintermediation Page 11 A dangerous comprehension gap Page 14 Changing influencer networks Page 17 Conclusion: Understanding customer needs through analytics The shifting balance of power 3

4 Introduction How has the financial crisis that still continues to grip some countries shaped European consumers attitudes towards savings and managing their finances in general? What are the things that are important to them when making financial decisions? Who or what do they trust to help them make these decisions and thereby select insurance and other financial products that suit their lifestyles and available income? Do they know what they are buying? Are there significant differences between countries and between generations? And last but not least, what are the implications for insurers? During the second half of 2014 Towers Watson commissioned a survey of consumers in seven European countries to help illuminate our thinking around some of these questions and, from the responses, enable us to try and identify or confirm trends that will be useful for insurance and other financial services product providers to monitor in the next few years. The countries covered were the six largest markets in Europe France, Germany, Italy, the Netherlands, Spain and the UK plus the region s most rapidly emerging market, Turkey. A minimum of 1,000 people took part in each country as part of a total survey sample of 7,136. From the research, we see four principal themes emerging: The financial crisis generation The move towards market disintermediation A dangerous comprehension gap Changing influencer networks Firstly, the findings suggest that a young generation of internet-savvy buyers is coming through with a responsible attitude towards financial matters that has almost inevitably been shaped by economic events of the last decade. Furthermore, their access to and familiarity with technology is already impacting sales channels and the way that products will need to be presented to them. Influenced in part by the generational pull effect, the research points to further disintermediation of the insurance market across Europe. In some countries, high levels of insurance business are already being informed by and conducted through online channels and there is no reason, given 4 towerswatson.com

5 wider technology trends, to suppose that this situation will not continue and spread more widely, except where specific regulations may intervene. For what this potentially means, one only has to look at the impact that price comparison websites in the UK have had on buying patterns and price transparency and expectations in the private motor insurance market in particular. The survey shows a high level of ignorance (and disinterest) in most countries about the coverage provided by insurance products and the terms used to describe product features, a situation only likely to be exacerbated by further increases in direct sales. Beyond the fact that perceived lack of understanding is a barrier to purchase of certain products in many countries, this implies a very real danger from conduct risk. The payment protection insurance (PPI) mis-selling episode specifically, and the treating customers fairly (TCF) principles in general, have cost UK financial services companies billions of pounds. The rest of Europe has been slower to take action in this area, but if customers do not understand products, and questions emerge about the value they provide, there is a danger that regulators across Europe could move in similar directions with costly results. Finally, traditional sources of influence over buying decisions, such as family and brand reputation, are lesser factors in more mature markets. Social media and other sources of online information are minor factors in decision-making at present. Nevertheless, we expect these to increasingly become the research tools of choice for younger buyers in particular, thereby requiring a radically different marketing approach from most insurers. The shifting balance of power 5

6 The financial crisis generation The current generation of people under 30 in Europe has grown or is growing into financial independence in austere economic times. Unemployment, and youth (those under 25) unemployment in particular, remains high in many European countries and even for those in employment, real wage growth has failed to or struggled to keep pace with inflation. Many younger people today cannot look forward to or contemplate the same levels of financial security and wealth accumulation that their parents and grandparents might have expected at the same stage in life. Accordingly, the survey results suggest that the younger generations across Europe are taking a more responsible attitude towards financial security. Their interest in saving is higher than most older age groups and they are more risk averse. Figure 01. Regularity of saving by age group (all countries in survey) 60% 50% 40% Country focus: Netherlands Dutch consumers are the most likely to allocate any disposable income to extras, such as holidays and cars. 30% 20% 10% 0% Monthly I don t save towerswatson.com

7 Figure 01 shows that young consumers are the most likely to save regularly. Over 50% of year olds say that they save on a monthly basis, as do 46% of year olds. Even in Spain, which had 54% youth unemployment as of May 2014 (source: Statista), half of both of these age groups said they tried to save money monthly. Across Europe, younger demographic groups are also the least likely not to save at all, with only around 6% of the youngest age group saying they do not put any money aside. One could argue justifiably that these results are linked to the ability or need to save. As people get older their financial commitments typically increase to meet the needs of, for example, rising housing costs and potentially bringing up children. For those in the age group, who are most likely to forego regular saving according to our survey, it might equally be expected that they have already accumulated a certain level of assets or have put money aside for their retirement years, meaning that saving could be less of a priority. But further analysis of the survey findings hints at a more fundamental shift in age-related outlook. When respondents were asked about whether their attitude towards taking financial risk had changed in the last five years, younger people were most likely to express the view that they were now more risk averse (see Figure 02). Figure 02. Percentage by age group indicating they are more risk averse than five years ago (all countries) 50% 40% Country focus: Spain Over the last five years, Spanish consumers have become more risk averse than those in any other country 54% of those surveyed. 30% 20% 10% 0% This tendency manifests itself in a number of ways. For example, when asked about the importance of providing personal long-term financial security, well over 80% of year olds across the countries surveyed rated this as important or very important. Many younger people are also thinking beyond their own welfare, with 26% of year olds considering it very important to leave an inheritance to their family. Interestingly, only 18% of year olds in our survey think the same. The shifting balance of power 7

8 Further contradicting the view that today s younger people belong to a I want it, and I want it now generation, the survey also provides evidence of a propensity to save for specific major purchases. Over 50% of year olds in our survey sample say they prefer to use disposable income to save towards major events. Perhaps surprisingly, nearly a quarter also say they like to use spare cash to invest in long-term savings, such as pensions. Conversely, it is hardly surprising that cost is a major factor in decisions about financial services products for all age groups. But in the case of younger consumers, price tends to be even more important and they are more likely to investigate alternative financial products using a growing range of technology tools. This trend shows through most clearly for motor insurance and in markets with higher degrees of price transparency. So, while over 40% of all year olds in our survey rated price as the most influential factor in their buying decision for motor insurance, the figure for the UK market, where price comparison websites and direct online sales are the dominant channel, is close to 70%. Otherwise, younger people are particularly sensitive to price on more discretionary products such as car breakdown and travel insurance. Figure 03. Percentage of year olds by country indicating they try to save the majority of their money each month UK Turkey Spain Netherlands Italy Germany France Average 0% 5% 10% 15% 20% 25% 30% 35% The financial crisis generation is a generation that has been forced to re-evaluate financial priorities and decisions by economic events of the last decade or so. It is, therefore, perhaps not surprising that a relatively high proportion of younger consumers across Europe are adopting quite a conservative financial approach. This could present an opportunity for insurers, particularly those that can offer products that appeal to some of the motivations identified earlier in this section in a way and at a time when they might actively be making product selections. At the same time these are consumers who have grown up with technology. They are typically quite familiar and comfortable with conducting their own internet research when making a wide variety of product choices. How loyal will they be? In our view, this will lead to further pressure for changes in how products are marketed and sold. Country focus: Turkey Consumers of all ages in Turkey are much more likely to prioritise providing some degree of financial security for their dependents in the event of their death than in other countries. For example, 64% of all Turks surveyed said this was very important to them while 58% said they would like to ensure that any outstanding debts were paid off. Many Turks still also like to invest savings in foreign exchange and gold, which we believe is a remnant of past economic turbulence when people wanted to make sure they could access their money in the event of a crisis. 8 towerswatson.com

9 The move towards market disintermediation Towers Watson s second annual investigation of insurers merger and acquisition (M&A) intentions in the EMEA region, conducted during 2014 with global intelligence provider Mergermarket 1, illustrated the increasing importance attached to digital distribution and technology platforms, particularly by property and casualty (P&C) insurance providers. More than 4 in 10 of the senior P&C insurance executives interviewed rated digital distribution as the most attractive channel for acquisition in the next three years. A quarter of life insurers also put top priority on digital distribution capability. The availability of modern technology platforms in particular was rated equally with a target company s market share as the key driver of valuations for P&C personal lines businesses. Moreover, a number of senior industry executives indicated that they expect to cast their M&A nets wider in the future to potentially absorb specialist technology providers that could enhance their business prospects. We believe that the emphasis on technology solutions that came out in this study is symptomatic of the shifting balance of power in the provider/client relationship, the resultant emerging need to support consumers in comparing and choosing their own financial products, and the threat from internet giants that could export their customer experience knowledge into the insurance sector. While we would not want to portray the evidence from our consumer survey as totally comprehensive or conclusive on these points, there are nonetheless some common patterns that support such a trend. 1 The outlook for insurance M&A in EMEA: Ready for take off, October 2014: The shifting balance of power 9

10 It is well documented that in certain types of insurance business in several countries, sales through brokers or agents have been in decline. Notably, however, for all common forms of personal insurance products, year olds are the least likely to buy through an agent or broker, suggesting further contraction in this part of the market. Figure 04 shows where this group is most likely to go to buy common types of cover. Figure 04. From whom are year olds most likely to buy different types of insurance products (all countries)? Travel Car breakdown Health 8.7% 6.7% 5.0% 47.8% 58.4% 69.7% 22.6% 10.1% 7.2% 13.9% 16.9% 7.2% Country focus: Germany Direct sales of all P&C insurance products grew from less than 10% of the total in 2011 to 12% in Life 7.6% 57.3% 22.8% 8.8% Home/contents 7.1% 59.9% 19.5% 10.6% Motor 6.0% 69.4% 7.3% 11.9% 0% 20% 40% 60% 80% 100% 120% Agent/Broker Insurer Bank Price comparison website More generally, agents and brokers (excluding price comparison websites) generally play a diminishing role in product choices among all age groups, although there is also a correlation with market maturity. So, Turkey, with much lower levels of insurance penetration (based on spending as a percentage of gross domestic product) than other countries in the survey, typically has higher levels of brokered or other intermediated business. For example, around 10% of Turks surveyed said they would expect to arrange home or contents insurance through an agent or broker. The comparable figures for France and Italy were 2.1% and 4.8%. Banks, however, remain an important distribution channel in some countries for particular types of insurance products, notably life cover and home and contents cover. Nearly half of the French consumers surveyed, 43% of the Turks, and approximately a quarter of Italians and Spaniards said they would look to a bank first for life insurance. Similarly, for home and contents insurance a quarter of Turks and Italians specified banks as their preferred buying channel. A second pattern observed in the survey data is that where technology has already gained a foothold, consumers show a willingness to adopt it. The clearest example is the UK, where half of all consumers in our survey said they would most likely use price comparison websites to make a decision about motor insurance. Similarly, 43% of people saw such sites as the primary channel for sourcing home insurance. Even in countries where we would regard price comparison websites as being in their relative infancy, consumer attitudes are quite positive. For example, nearly 24% of all German survey respondents said they would use them for buying motor insurance, as did 18% of Italians and 14% of Dutch and Spanish consumers surveyed. While our survey did not investigate the extent to which people buy directly from insurers online, our experience makes us believe there is ample evidence that the movement away from traditional channels towards direct, heavily non-intermediated, sales channels will only gain further momentum. Country focus: France Compared to those in other countries in the survey, a very high proportion of French consumers say they prefer to buy direct from an insurance company. For motor and home and contents insurance, around three-quarters of those surveyed expressed this preference. 10 towerswatson.com

11 A dangerous comprehension gap A striking feature of the survey results is the extent to which consumers in all of the countries surveyed say they do not really understand the benefits or purpose of a number of commonly or increasingly available insurance products in their respective countries. Prominent examples include the 88% of Germans who have no or little knowledge of GAP coverage (GAP Deckung); the 59% of French consumers who do not really comprehend temporary life insurance products (assurance-vie temporaire); the 73% of Dutch people that cannot explain what salvage cover for home and contents insurance is (Bereddingskosten); the 79% of Turks who are in the dark on telematics motor insurance; or the 62% of British consumers who are ignorant or unsure of the purpose of level term life assurance. The shifting balance of power 11

12 Figure 05 below demonstrates graphically what consumers believe are the underlying reasons for their lack of understanding of insurance products in general. Significant numbers put the blame at the door of providers due to the perceived complexity or lack of explanation of products on offer. However, at least a third of all consumer age groups across the countries surveyed admit that they cannot really be bothered to investigate or learn about particular products more deeply. Figure 05. Why do consumers feel they do not understand certain insurance products (all countries)? 60% 50% 40% 30% 20% 10% Country focus: Italy Italian consumers are particularly reluctant to buy insurance they do not fully understand, including 21% who feel this way about home and contents cover and 25% who have similar reservations about health insurance. 0% They are too complicated to understand The policies are poorly explained I don t have the time or interest to fully understand them While insurers could potentially take further steps to simplify or enhance product descriptions, the broader issue is likely to be complicated by markets across Europe moving increasingly towards digital distribution and direct sales channels. If anything, the onus on insurers to provide independent means that would enable consumers to educate themselves on what they are buying will increase. In this respect, there may be lessons to be learned from the pensions and employee benefits sectors where customer information portals, frequently enhanced by interactive tools that permit further exploration of individual circumstances, are becoming increasingly commonplace. To illustrate how transparency of information can influence consumer choices, Towers Watson commissioned a consumer survey during 2014 in the UK to assess the impact of new legislation that introduces greater freedom in how retirees use personal pensions from April When asked the general question of whether the government Budget announcement would change their attitude towards pension saving, over half said they didn t think it would make any difference. But when presented with real-life scenarios, including projections of income based on amounts saved and current UK annuity rates, people engaged with the issue much more, with around two thirds indicating they would be likely to change their behaviour. But does the fact that consumers do not grasp or want to study insurance coverage or terms and conditions in their free time come as a great surprise? Probably not. More interesting is what they currently do as a result, and the implications for insurers. Lack of understanding does make some consumers wary of purchasing certain sorts of products. For example, 16% of all survey respondents, and considerably higher percentages of people in Italy and Turkey, said that their uncertain knowledge of life insurance cover would stop them buying it. There were also surprisingly high barriers to purchase of home and contents insurance due to a perceived lack of understanding of the nature of the cover. Overcoming these barriers will almost inevitably be a factor in sales growth in an increasingly disintermediated market. 2 UK Corporate and Trustee Briefing, Employees need help to understand UK Budget changes, October 2014: 12 towerswatson.com

13 Nonetheless, a much higher proportion of consumers indicate they are willing to disregard gaps in their understanding of product coverage to make a purchase. Figure 06 illustrates the percentage of survey respondents by age group who said they would not be prevented from buying any types of insurance due to a lack of understanding of the products. Figure 06. Percentage of respondents whose lack of product understanding would not prevent them buying products (all countries) Age % 10% 20% 30% 40% 50% 60% 70% On the face of it, this finding would appear favourable for insurers. A statistic that shows that more than 65% of consumers over 45 in the biggest markets in Europe would not be deterred from buying insurance products, even though they might not fully understand the benefits, might seem a positive thing. In point of fact, we believe it highlights the need for insurers across Europe (and more widely too) to be aware of the very real danger from conduct risk. This is the risk that at a future date products will be deemed by regulators or legislators to have been marketed or sold without sufficient understanding from those buying them, to have not made transaction costs transparent enough, or to have been inappropriate to the financial needs of consumers. Probably the most well-known current example of this risk relates to payment protection insurance (PPI) sold in the UK. According to the UK Financial Conduct Authority (FCA) website, the UK financial services industry paid out 17.7 billion in compensation payments between June 2011 and November 2014 to consumers who had complained about the way they were sold PPI as an insurance against not being able to meet finance payments. That will not be the end of it either, particularly with the legion of telephone and messaging call centres that have emerged to exhort British consumers to make a claim. And nor does the figure quoted by the FCA take into account the reputational damage that firms have also suffered. And whereas it took over 10 years for UK regulators to add some teeth to their concerns about the way customers had been treated, our observation is that if public opinion was to turn against some of the products and sales techniques used in other countries, regulators in those countries would have a ready-made model from which to work. In all likelihood, therefore, insurers would find themselves subject to punitive or restrictive measures far more quickly than occurred in the UK. Given the scale of the lack of understanding of certain product aims and features highlighted by the survey, combined with the potential for increased levels of remote sales, we believe that insurers may well need to give additional thought to how they might mitigate against conduct risk. The shifting balance of power 13

14 Changing influencer networks The survey suggests that, for most products, traditional sources of influence over buying decisions such as family, advertising and brand reputation are now relatively insignificant, trends that are accentuated in more mature markets. There is no getting away from the fact that in most classes of insurance price is a dominant consideration. While this is less pronounced for life and health cover, where around a quarter of survey respondents in all countries indicate that price is their primary criterion, for car and carbreakdown insurance the figure is around 40% and much higher in countries with greater price transparency between providers, such as the UK. In addition, around a fifth of consumers said they typically relied predominantly on an existing relationship with an insurer. Of course, effective retention strategies have always been an integral part of running successful insurance businesses. The challenge going forward appears to be about the communications strategies, channels and networks used for not only maintaining client relationships but also building new ones. 14 towerswatson.com

15 So, beyond doing a good job around administration and claims, which are givens, what are the options? The survey shows that investing in, building and maintaining brand reputation per se cannot be relied upon, except to some extent in life and health insurance in selected countries. Brand reputation tends to be less important relative to where overall levels of insurance penetration are higher and also where greater erosion of business from traditional sales channels has already taken place (see Figure 07). Figure 07. Consumers citing brand reputation as an influence on their buying decision for different insurance products 40% 35% 30% 25% 20% Country focus: UK Independent consumer reviews are substantially more influential to British consumers than recommendations from family or friends for all main classes of personal cover except health insurance. 15% 10% 5% 0% France Germany Italy Netherlands Spain Turkey UK Motor Home/contents Life Linked to this, the persuasive power of advertising is very small. For most product classes, only 2% to 3% of consumers show any tendency to be swayed by this form of communication. Furthermore, taking recommendations from family and friends is also a minor factor, even allowing for younger consumers showing more inclination to reach decisions in this way. This is not a trend unique to insurance of course. The changing nature of the provider/client relationship in a number of industries, linked to internet access, means that many consumers are now much more likely to pull information rather than respond to pushed communication, whatever the source. This is somewhat illustrated in the survey by the number of people claiming to place priority on consulting independent consumer reviews to arrive at financial choices reaching 8.3% of all survey respondents for travel insurance. As a result, the way that insurers need to communicate has already changed and continues to evolve. In particular, insurers have to find ways to make customers want to engage with their product offerings by making them more relevant and appealing to the individuals pulling the information. Take, for example, what is happening with telematics motor insurance in selected markets. In order to encourage customers to learn about a new way to insure their car and trial their products, many insurers have turned to try before you buy smartphone apps. These create a more interactive communication. And the driver scores generated and the gaming-type functionality that can be a part of such apps have been shown to provide a potential discussion point for social media outlets, thereby extending the reach further. Innovations of this sort go some way to explain why some insurers are looking to enhance their digital distribution and technology capability through M&A (see page 9), potentially widening their radar to specialist technology providers. The shifting balance of power 15

16 16 towerswatson.com

17 Conclusion: Understanding customer needs through analytics For several years now, the insurance industry has talked about the need to become more customer-centric. These survey findings illustrate what this may mean in practice in future years. They provide further evidence, in our opinion, of the need to prioritise investments in, and a coordinated approach to, business models that will enable consumers to deal with financial services providers, including insurance companies, in the manner that suits them. In developing a real understanding of customers and delivering products that meet their specific needs and motivations, the devil is in the detail. For example, younger consumers across the countries surveyed present a particularly interesting dilemma for insurers. On the one hand, the financial crisis has scarred them more than most, encouraging many under-25s to be more risk-aware and seek greater financial security than might have been supposed. On the other, the advance of technology is increasingly distancing them from traditional purchase channels, with the result that they are likely to be less loyal to financial services providers. New methods of engaging and communicating with this audience are increasingly required, recognising also how their sources of information and guidance are altering. However, the continuing pressure on traditional intermediary sales models applies to virtually all age groups even if banks still have a substantial role in the market in certain countries. This helps explain the value attributed to good technology and digital distribution assets that is increasingly showing through in insurers M&A priorities. It is hard to see this trend reversing in the short term. Going forward, we see analytics capability as a particular battleground. Many insurers have already improved their use of analytics. But a lot of the activity to date has been focused on using data more effectively in pricing. Much as this is increasingly essential due to the competitive and expanding nature of a growing number of markets around the world, it still largely stems from a product push mentality. A key implication of the survey, we believe, is that insurers will need to use analytics to enhance their understanding of customers and consumer behaviour more generally. This is the next challenge for the many insurers that have only taken small steps down this road so far. The good news is that, in many cases, there will be unexploited internal sources of data that are relatively easily accessed and valuable. But there is a wide world of external data out there that are potentially beneficial to insurers and that can enrich how they interact with customers. The danger is that if insurers do not get to grips with how consumers use of technology to make financial decisions is evolving, others with relevant expertise (Google, for example) may step in. But if insurance, like many consumer industries, does continue to move inexorably towards generally more remote relationships with customers, it does not, however, devolve responsibility from insurers for explaining what their customers are buying. Insurers across continental Europe need to be alert to the very real danger of a more stringent regulatory view of conduct risk spreading from the UK. Future business models will need to leave room for adaptation to the ever-shifting customer/ client relationship. The shifting balance of power 17

18 Further information For further information, please contact your usual Towers Watson consultant, or one of the country contacts below: France Guillaume Beneteau Germany Henning Maaß Italy Alessandra Gambini Netherlands Harm Blaak Spain Julio Koch Turkey Evrim Koksal Arkut UK Tammy Richardson towerswatson.com

19

20 About Towers Watson Towers Watson is a leading global professional services company that helps organisations improve performance through effective people, risk and financial management. With 15,000 associates around the world, we offer consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. Learn more at towerswatson.com Towers Watson 71 High Holborn London WC1V 6TP Towers Watson is represented in the UK by Towers Watson Limited. The information in this publication is of general interest and guidance. Action should not be taken on the basis of any article without seeking specific advice. To unsubscribe, with the publication name as the subject and include your name, title and company address. Copyright 2015 Towers Watson. All rights reserved. TW-EU March towerswatson.com /towerswatson

PAYMENT PROTECTION INSURANCE RESEARCH

PAYMENT PROTECTION INSURANCE RESEARCH PAYMENT PROTECTION INSURANCE RESEARCH ANALYTICAL REPORT NOVEMBER 2015 ABOUT COMRES ComRes provides specialist research and insight into reputation, public policy and communications. It is a founding member

More information

to selection. If you have any questions about these results or In the second half of 2014 we carried out an international

to selection. If you have any questions about these results or In the second half of 2014 we carried out an international Candidate Experience Survey RESULTS INTRODUCTION As an HR consultancy, we spend a lot of time talking We ve set out this report to focus on the findings of to our clients about how they can make their

More information

2012 HOUSEHOLD FINANCIAL PLANNING SURVEY

2012 HOUSEHOLD FINANCIAL PLANNING SURVEY 2012 HOUSEHOLD FINANCIAL PLANNING SURVEY A Summary of Key Findings July 23, 2012 Prepared for: Certified Financial Planner Board of Standards, Inc. and the Consumer Federation of America Prepared by: Princeton

More information

Next generation insurance - insights into the behaviour and beliefs of the European consumer

Next generation insurance - insights into the behaviour and beliefs of the European consumer Next generation insurance - insights into the behaviour and beliefs of the European consumer Dr John Schoonbee, Chief Medical Officer, EMEA, Swiss Re IAA Colloquium 2015, Oslo, Norway, 7-10th June 2015

More information

Driving greater loyalty in Europe. What consumers want and where brands are failing to deliver

Driving greater loyalty in Europe. What consumers want and where brands are failing to deliver Driving greater loyalty in Europe What consumers want and where brands are failing to deliver Research commissioned with consumers in France, Germany and Switzerland Executive summary Fast-changing technology,

More information

ACCIDENT & HEALTH. Risk BRiefing. Changing Consumer. financial protection

ACCIDENT & HEALTH. Risk BRiefing. Changing Consumer. financial protection ACCIDENT & HEALTH ACe european Risk BRiefing Changing Consumer perceptions of personal financial protection ReseARCh BACkgRound And methodology ACe group commissioned orc international to undertake research

More information

International IPTV Consumer Readiness Study

International IPTV Consumer Readiness Study International IPTV Consumer Readiness Study Methodology The Accenture International IPTV Study is based on structured telephone interviews using a standard questionnaire and quantitative analysis methods

More information

An introduction to European employment law for Japanese companies

An introduction to European employment law for Japanese companies Acquisitions issues to expect Employing staff in Europe An introduction to European employment law for Japanese companies For Japanese companies encountering the European employment law system for the

More information

Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012

Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012 Ipsos / Europ Assistance barometer Europeans Plans and Concerns for the Holidays Summary Ipsos for the Europ Assistance Group May 24th 2012 Contacts Ipsos Public Affairs: Fabienne SIMON 01 41 98 92 15

More information

E-print from Paybefore Magazine Fall 2011

E-print from Paybefore Magazine Fall 2011 Know Your Audience MasterCard studies the differences and similarities among consumers in five European countries By Bill Grabarek, Senior Writer Prepaid card usage across Europe is increasing. But to

More information

The future of charitable donations

The future of charitable donations The future of charitable donations Contents 3 Introduction 4 Section one: How are donations being made? 5 Who are donations coming from? 6 Assessing the digital preferences of donors 7 Section two: Breaking

More information

THE EURO AREA BANK LENDING SURVEY 3RD QUARTER OF 2014

THE EURO AREA BANK LENDING SURVEY 3RD QUARTER OF 2014 THE EURO AREA BANK LENDING SURVEY 3RD QUARTER OF 214 OCTOBER 214 European Central Bank, 214 Address Kaiserstrasse 29, 6311 Frankfurt am Main, Germany Postal address Postfach 16 3 19, 666 Frankfurt am Main,

More information

The Business Impact of the Cloud. According to 460 Senior Financial Decision-Makers

The Business Impact of the Cloud. According to 460 Senior Financial Decision-Makers The Business Impact of the Cloud According to 460 Senior Financial Decision-Makers March 2012 Contents Summary of key findings 4 Finance decision-makers have a high awareness of cloud computing 4 The majority

More information

Briefing Paper on Equity Release

Briefing Paper on Equity Release COUNCIL of MORTGAGE LENDERS Briefing Paper on Equity Release What is equity release? 1. Equity is the difference between any mortgage you may have and the value of your home. Equity release is a way of

More information

Deconstructing Long-Term Care Insurance

Deconstructing Long-Term Care Insurance Insights November 2012 Deconstructing Long-Term Care Insurance In spite of the growing need for long-term care financing, two observations about the current state of long-term care insurance market are

More information

Age and Insurance: Helping older customers find the cover they need. February 2009

Age and Insurance: Helping older customers find the cover they need. February 2009 Age and Insurance: Helping older customers find the cover they need February 2009 AGE AND INSURANCE: HELPING OLDER CUSTOMERS FIND THE COVER THEY NEED 1 Executive Summary The insurance industry is committed

More information

An introduction to European employment law for Korean companies

An introduction to European employment law for Korean companies Acquisitions issues to expect Employing staff in Europe An introduction to European employment law for Korean companies For Korean companies encountering the European employment law system for the first

More information

Perspectives. Professional service firms. Re-engaging and retaining employees

Perspectives. Professional service firms. Re-engaging and retaining employees Perspectives Professional service firms Re-engaging and retaining employees Re-engaging and retaining employees in professional service firms An engaged workforce one that is fi ring on all cylinders and

More information

Perspectives. Employee voice. Releasing voice for sustainable business success

Perspectives. Employee voice. Releasing voice for sustainable business success Perspectives Employee voice Releasing voice for sustainable business success Empower, listen to, and act on employee voice through meaningful surveys to help kick start the UK economy. 2 Releasing voice

More information

COMPETITION IN THE AUSTRALIAN PRIVATE HEALTH INSURANCE MARKET

COMPETITION IN THE AUSTRALIAN PRIVATE HEALTH INSURANCE MARKET COMPETITION IN THE AUSTRALIAN PRIVATE HEALTH INSURANCE MARKET Page 1 of 11 1. To what extent has the development of different markets in the various states had an impact on competition? The development

More information

Helping customers protect their lifestyles in these challenging times

Helping customers protect their lifestyles in these challenging times Helping customers protect their lifestyles in these challenging times insurance services Recent consumer focus group activity that we have carried out in conjunction with YouGov within the 30 to 54 year

More information

Tech deficit. June 2014

Tech deficit. June 2014 Tech deficit June 2014 Executive Summary Breaking into new markets, meeting customer requirements and increasing profitability are key objectives for all companies. Efficient and adaptable technology is

More information

HAS FINANCE BECOME TOO EXPENSIVE? AN ESTIMATION OF THE UNIT COST OF FINANCIAL INTERMEDIATION IN EUROPE 1951-2007

HAS FINANCE BECOME TOO EXPENSIVE? AN ESTIMATION OF THE UNIT COST OF FINANCIAL INTERMEDIATION IN EUROPE 1951-2007 HAS FINANCE BECOME TOO EXPENSIVE? AN ESTIMATION OF THE UNIT COST OF FINANCIAL INTERMEDIATION IN EUROPE 1951-2007 IPP Policy Briefs n 10 June 2014 Guillaume Bazot www.ipp.eu Summary Finance played an increasing

More information

responsible equity release Responsible for your comfortable retirement The Latest On Equity Release In Just 800 Words

responsible equity release Responsible for your comfortable retirement The Latest On Equity Release In Just 800 Words The Latest On Equity Release In Just 800 Words Releasing equity with a lifetime mortgage Designed for those aged 55+, who own their property, are asset-rich and want to access to this wealth in a flexible

More information

New Channels Create New Growth Opportunities for Insurers. North American Insurance Distribution Survey Findings

New Channels Create New Growth Opportunities for Insurers. North American Insurance Distribution Survey Findings New Channels Create New Growth Opportunities for Insurers North American Insurance Distribution Survey Findings Introduction After a period marked by disruption of the financial systems and heightened

More information

Study into the Sales of Add-on General Insurance Products

Study into the Sales of Add-on General Insurance Products Study into the Sales of Add-on General Insurance Quantitative Consumer Research Report Prepared For: Financial Conduct Authority (FCA) March, 2014 Authorised Contact Persons Frances Green Research Director

More information

Are caravan dealers riskier than insurance brokers? Insuring the insurers: are caravan dealers riskier than insurance brokers?

Are caravan dealers riskier than insurance brokers? Insuring the insurers: are caravan dealers riskier than insurance brokers? Agenda Advancing economics in business Are caravan dealers riskier than insurance brokers? Insuring the insurers: are caravan dealers riskier than insurance brokers? A recent consultation by the UK Financial

More information

Financial services mis-selling: regulation and redress

Financial services mis-selling: regulation and redress Report by the Comptroller and Auditor General Financial Conduct Authority and Financial Ombudsman Service Financial services mis-selling: regulation and redress HC 851 SESSION 2015-16 24 FEBRUARY 2016

More information

Why a Floating Exchange Rate Regime Makes Sense for Canada

Why a Floating Exchange Rate Regime Makes Sense for Canada Remarks by Gordon Thiessen Governor of the Bank of Canada to the Chambre de commerce du Montréal métropolitain Montreal, Quebec 4 December 2000 Why a Floating Exchange Rate Regime Makes Sense for Canada

More information

Bank of America Merrill Lynch Banking and Insurance CEO Conference. London, 29 September 2009

Bank of America Merrill Lynch Banking and Insurance CEO Conference. London, 29 September 2009 Bank of America Merrill Lynch Banking and Insurance CEO Conference London, 29 September 2009 Good morning. I d like to thank Bank of America Merrill Lynch for letting us speak this morning. Before I talk

More information

THE DELOITTE CFO SURVEY 2015 Q2 RESULTS PATH TO GROWTH

THE DELOITTE CFO SURVEY 2015 Q2 RESULTS PATH TO GROWTH THE DELOITTE CFO SURVEY 2015 Q2 RESULTS PATH TO GROWTH 2 Contents Key points from the 2015 Q2 Survey 4 Economic context 5 The economy and CFOs outlook 6 Funding 7 Cash flow and risk 8 M&A 9 A note on methodology

More information

Summer 2015. Mind the gap. Income protection gap study Western Europe

Summer 2015. Mind the gap. Income protection gap study Western Europe Summer 2015 Mind the gap Income protection gap study Western Europe Foreword There is growing awareness of the pension gap, but most people underestimate an even greater risk to their standard of living:

More information

The AR Factor. The economic value of Accounts Receivable Finance to Europe s leading economies October 2011

The AR Factor. The economic value of Accounts Receivable Finance to Europe s leading economies October 2011 The AR Factor The economic value of Accounts Receivable Finance to Europe s leading economies October 2011 Executive Summary The purpose of this report is to assess the benefits that Accounts Receivable

More information

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers

KEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers KEY FACTS 2015 UK Insurance & Long Term Savings Key Facts 2015 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS The UK insurance and long term savings industry is

More information

Research. What Impact Will Ballooning Government Debt Levels Have on Government Bond Yields?

Research. What Impact Will Ballooning Government Debt Levels Have on Government Bond Yields? Research What Impact Will Ballooning Government Debt Levels Have on Government Bond Yields? The global economy appears to be on the road to recovery and the risk of a double dip recession is receding.

More information

A BETTER RETIREMENT PORTFOLIO FOR MEMBERS IN DC INVESTMENT DEFAULTS

A BETTER RETIREMENT PORTFOLIO FOR MEMBERS IN DC INVESTMENT DEFAULTS A BETTER RETIREMENT PORTFOLIO FOR MEMBERS IN DC INVESTMENT DEFAULTS JUNE 2014 TALENT HEALTH RETIREMENT INVESTMENTS EXECUTIVE SUMMARY The majority of defined contribution (DC) plan members typically end

More information

Description. Understanding consumer attitudes and future trends in the UK motoring industry. Richard Barton Group Managing Director

Description. Understanding consumer attitudes and future trends in the UK motoring industry. Richard Barton Group Managing Director Automotive Main Title Trends 2015 Changing Lanes Description Understanding consumer attitudes and future trends in the UK motoring industry Richard Barton Group Managing Director Contents Executive summary

More information

Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC).

Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC). LABUAN CAPTIVES Below is a general overview of Captives with particular information regarding Labuan International and Business Financial Centre (Labuan IBFC). Kensington Trust Labuan Limited is a licensed

More information

Global Trends in Life Insurance: Front Office

Global Trends in Life Insurance: Front Office What you need to know LIFE INSURANCE Global Trends in Life Insurance: Front Office Key front office trends and their implications for the life insurance industry Contents 1 Highlights 3 2 Introduction

More information

Creating a Secondary Annuity Market: a response by the National Association of Pension Funds

Creating a Secondary Annuity Market: a response by the National Association of Pension Funds Creating a Secondary Annuity Market: a response by the National Association of Pension Funds June 2015 www.napf.co.uk Creating a secondary annuity market: a response by the NAPF Contents Executive Summary

More information

Long-Term Care Insurance Buyer Profiles: Implications for CLASS

Long-Term Care Insurance Buyer Profiles: Implications for CLASS Long-Term Care Insurance Buyer Profiles: Implications for CLASS By Eileen J. Tell Spring 2011 No. 15 The Community Living Assistance Services and Supports (CLASS) Plan a groundbreaking component of the

More information

Investor survey of fixed income liquidity 2013

Investor survey of fixed income liquidity 2013 Investor survey of fixed income liquidity 2013 Association for Financial Markets in Europe Sponsored by: About AFME The Association for Financial Markets in Europe (AFME) is the voice of Europe s wholesale

More information

Life insurance industry in India Life after the game-changing unit linked regulations of September 2010 (910)

Life insurance industry in India Life after the game-changing unit linked regulations of September 2010 (910) Life insurance industry in India Life after the game-changing unit linked regulations of September 2010 (910) Unit linked guidelines were first introduced in December 2005 and the first set of major changes

More information

There s no such thing as a free lunch Why fees are the future for current accounts

There s no such thing as a free lunch Why fees are the future for current accounts www.pwc.co.uk/financial-services There s no such thing as a free lunch Why fees are the future for current accounts January 2015 Introduction PwC s research into what customers think about their bank suggests

More information

the future of digital trust

the future of digital trust the future of digital trust A European study on the nature of consumer trust and personal data September 2014 2 the future of digital trust my data value As outlined in the first instalment of The Future

More information

Centralised Portfolio Management

Centralised Portfolio Management Centralised Portfolio Management Introduction In our previous paper (Centralised Portfolio Management, December 2014) we highlighted the importance of improving investment outcomes for members by considering

More information

The impact of online marketing on children's behaviour. CMEG Brussels, 17.02.2016

The impact of online marketing on children's behaviour. CMEG Brussels, 17.02.2016 The impact of online marketing on children's behaviour CMEG Brussels, 17.02.2016 Presentation structure Aims and objectives Research process and methods Key findings: Problematic online marketing practices

More information

RETAIL FINANCIAL SERVICES

RETAIL FINANCIAL SERVICES Special Eurobarometer 373 RETAIL FINANCIAL SERVICES REPORT Fieldwork: September 211 Publication: April 212 This survey has been requested by the European Commission, Directorate-General Internal Market

More information

MiFID II From a compliance to a business challenge

MiFID II From a compliance to a business challenge MiFID II From a compliance to a business challenge Pascal Eber Partner Advisory & Consulting Operations Excellence & Human Capital Deloitte Michael Flynn Director Advisory & Consulting Strategy, Regulatory

More information

Workforce Strategy Survey: Global Key Findings

Workforce Strategy Survey: Global Key Findings Workforce Strategy Survey: Global Key Findings A Manpower Survey Insights on Whether Organizations Workforce Strategies are Aligned to Their Business Strategies and Their People are Prepared to Execute

More information

Job levelling solutions

Job levelling solutions Towers Watson Job levelling solutions Global Grading System and Career Map Towers Watson s systematic approach to job levelling helps organisations manage the opportunities and challenges of rewards and

More information

Insurance Market Outlook

Insurance Market Outlook Munich Re Economic Research May 2014 Premium growth is again slowly gathering momentum After a rather restrained 2013 (according to partly preliminary data), we expect growth in global primary insurance

More information

Can DC members afford to ignore inflation?

Can DC members afford to ignore inflation? May 2013 Can DC members afford to ignore inflation? Mark Humphreys, Head of UK Strategic Solutions, Schroders Introduction Around 95% of individuals are forgoing inflation protection for their retirement

More information

Workers Still Uneasy About Financial Security and Retirement

Workers Still Uneasy About Financial Security and Retirement Workers Still Uneasy About Financial Security and Retirement Results from Towers Watson s 2013/2014 Global Benefit Attitudes Survey By Jonathan Gardner and Steve Nyce 1 In the more than five years since

More information

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904

largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 largeequityrelease.com EQUITY RELEASE GUIDE Speak to one of our specialists today on 020 3824 0904 CONTENTS What is equity release?... 3 How much money could I raise through an equity release?... 4 What

More information

ING International Survey. Financial Empowerment in the Digital Age

ING International Survey. Financial Empowerment in the Digital Age July 2013 Financial Empowerment in the Digital Age Mobile Banking, Social Media and Financial Behaviour This survey was conducted by Ipsos on behalf of ING Table of contents About the 3 Executive summary

More information

UK Video Advertising Report November 2012

UK Video Advertising Report November 2012 UK Video Advertising Report November 2012 BrightRoll UK Video Advertising Report: November 2012 brightroll.co.uk +44 (0)207 550 5580 22, Long Acre London WC2E 9LY Copyright 2012 BrightRoll, Inc. 64% of

More information

International Students' Attitudes to Postgraduate Study in Australia and New Zealand Survey 2013

International Students' Attitudes to Postgraduate Study in Australia and New Zealand Survey 2013 International Students' Attitudes to Postgraduate Study in Australia and New Zealand Survey 2013 Introduction Working with StudyOptions, our survey aimed to find out potential postgraduate students' attitudes

More information

ADVERTISING TRAVEL PRODUCTS TO MULTI-SCREEN CONSUMERS. A UK Travel white paper November 2012

ADVERTISING TRAVEL PRODUCTS TO MULTI-SCREEN CONSUMERS. A UK Travel white paper November 2012 ADVERTISING TRAVEL PRODUCTS TO MULTI-SCREEN CONSUMERS A UK Travel white paper November 2012 THE UNITED KINGDOM - A NATION OF MULTI-SCREENERS With the spread and evolution of mobile devices, be prepared

More information

PROTECTION REPORT BEFORE AND AFTER THE MORTGAGE MARKET REVIEW

PROTECTION REPORT BEFORE AND AFTER THE MORTGAGE MARKET REVIEW PROTECTION REPORT BEFORE AND AFTER THE MORTGAGE MARKET REVIEW JUNE 2015 HOMEOWNERS A R E FAR MORE AWARE OF THE WAYS THEY SPEND THEIR MONEY IS THIS GREATER AWARENESS CHANGING ATTITUDES TOWARDS OUR FINANCIAL

More information

The Future of Practice Management. Member Briefing December 2013

The Future of Practice Management. Member Briefing December 2013 The Future of Practice Management Member Briefing December 2013 Overview While financial advisers assist clients in planning for their eventual transition out of the working world and into retirement,

More information

the future of digital trust

the future of digital trust the future of digital trust A European study on the nature of consumer trust and personal data February 2014 2 the future of digital trust executive summary Organisations are seeking to obtain and make

More information

Global and US Trends in Management Consulting A Kennedy Information Perspective

Global and US Trends in Management Consulting A Kennedy Information Perspective Global and US Trends in Management Consulting A Kennedy Information Perspective Summary There is firm evidence of significant growth in the management consulting industry in 2005 and 2006. In some markets,

More information

Global Investment Trends Survey May 2015. A study into global investment trends and saver intentions in 2015

Global Investment Trends Survey May 2015. A study into global investment trends and saver intentions in 2015 May 2015 A study into global investment trends and saver intentions in 2015 Global highlights Schroders at a glance Schroders at a glance At Schroders, asset management is our only business and our goals

More information

Trends in B2B ecommerce in the UK RESEARCH 2013 WHITE PAPER

Trends in B2B ecommerce in the UK RESEARCH 2013 WHITE PAPER Trends in B2B ecommerce in the UK RESEARCH 2013 WHITE PAPER RESEARCH 2013 Background to the research Stibo Systems (a Master Data Management company), and Salmon (an ecommerce digital agency), commissioned

More information

AGE position on financial inclusion: age limits in access to financial products

AGE position on financial inclusion: age limits in access to financial products 23 May 2008 AGE position on financial inclusion: age limits in access to financial products Most cases of exclusion from access to financial products reported by our members and experts relate to age limits

More information

Household wealth and retirement savings

Household wealth and retirement savings Household wealth and retirement savings What we have learned from a joint research with OECD and OEE Daniele Fano Head of the Pioneer Global Asset Management Unit Introduction Retirement is one of the

More information

Annuity underwriting in the United Kingdom

Annuity underwriting in the United Kingdom Annuity underwriting in the United Kingdom 1. Purpose This note is for the International Actuarial Association Mortality Working Group (IAAMWG). It aims to provide an overview for an international audience,

More information

FCA Retirement income market study: Interim Report. A response by the National Association of Pension Funds. January 2015 www.napf.co.

FCA Retirement income market study: Interim Report. A response by the National Association of Pension Funds. January 2015 www.napf.co. FCA Retirement income market study: Interim Report A response by the National Association of Pension Funds January 2015 www.napf.co.uk NAPF response to FCA retirement income market study Contents Overview...

More information

How international expansion is a driver of performance for insurers in uncertain times

How international expansion is a driver of performance for insurers in uncertain times How international expansion is a driver of performance for insurers in uncertain times Accenture Global Multi-Country Operating Model Survey May 2009 Copyright 2009 Accenture. All rights reserved. Accenture,

More information

Session 4a A Money and Information Business: Insurance E-Business Development and Trend in China. Steven Chen, FSA, MAAA, CFA

Session 4a A Money and Information Business: Insurance E-Business Development and Trend in China. Steven Chen, FSA, MAAA, CFA Session 4a A Money and Information Business: Insurance E-Business Development and Trend in China Steven Chen, FSA, MAAA, CFA A MONEY AND INFORMATION BUSINESS INSURANCE E-BUSINESS DEVELOPMENT AND TREND

More information

RETAIL FINANCIAL SERVICES

RETAIL FINANCIAL SERVICES Special Eurobarometer 373 RETAIL FINANCIAL SERVICES REPORT Fieldwork: September 211 Publication: March 212 This survey has been requested by Directorate-General Internal Market and Services and co-ordinated

More information

The Open University s repository of research publications and other research outputs. Age differences in graduate employment across Europe

The Open University s repository of research publications and other research outputs. Age differences in graduate employment across Europe Open Research Online The Open University s repository of research publications and other research outputs Age differences in graduate employment across Europe Other How to cite: Little, Brenda and Tang,

More information

Premier Private Client Portfolio

Premier Private Client Portfolio Premier Private Client Portfolio Available through Lighthouse Group LIGHTHOUSEGROUP Whether seeking a steady income stream, strong long term capital growth or a combination of both, finding a portfolio

More information

Institutional Investors and Hungarian Stocks in 2014

Institutional Investors and Hungarian Stocks in 2014 Institutional Investors and Hungarian Stocks in 2014 Institutional Investors and Hungarian Stocks in 2014 Capital markets were generally on a roller-coaster ride in 2014, with increased volatility and

More information

Variable Annuity Marketing from the Perspective of Consumers Financial Awareness

Variable Annuity Marketing from the Perspective of Consumers Financial Awareness Variable Annuity Marketing from the Perspective of Consumers Financial Awareness By Atsuko Kuribayashi Insurance Research Group Introduction Variable annuities have become increasingly popular as a wealth-building

More information

Equity Release An easy to understand guide just for you

Equity Release An easy to understand guide just for you TRuE BEARing ChARTEREd e Right direction for Financial Advice Equity Release An easy to understand guide just for you True Bearing Chartered 2 Buckshaw Court, East Terrace Business Park Euxton Lane, Euxton,

More information

THE CUSTOMER, GOOGLE, AND UK CAR INSURANCE: LESSONS FROM EVOLVING CUSTOMER SEARCH BEHAVIOUR

THE CUSTOMER, GOOGLE, AND UK CAR INSURANCE: LESSONS FROM EVOLVING CUSTOMER SEARCH BEHAVIOUR THE CUSTOMER, GOOGLE, AND UK CAR INSURANCE: LESSONS FROM EVOLVING CUSTOMER SEARCH BEHAVIOUR 27 SEPTEMBER 2012 Craig Beattie, Celent 1 Insurance and innovation The insurance industry isn t perceived as

More information

BEYOND PERSONALISATION European retailers perspective on contextual marketing

BEYOND PERSONALISATION European retailers perspective on contextual marketing An executive summary from The Economist Intelligence Unit BEYOND PERSONALISATION European retailers perspective on contextual marketing Retailers are at the sharp end of the digital revolution. Once, their

More information

... '~ nmg ~! ~ CONSULTING

... '~ nmg ~! ~ CONSULTING ... '~ nmg ~! ~ CONSULTING SHAPE YOUR THINKING Impact of the Retail Distribution Review on consumer interaction with the retail investments market A quantitative research report Prepared by NMG Consulting

More information

Meeting the Needs of the New Financial Consumer: A Snapshot of Six Customer Segments

Meeting the Needs of the New Financial Consumer: A Snapshot of Six Customer Segments Meeting the Needs of the New Financial Consumer: A Snapshot of Six Customer Segments By First Data and Market Strategies International 2011 First Data Corporation. All trademarks, service marks and trade

More information

SOCIETY OF ACTUARIES THE AMERICAN ACADEMY OF ACTUARIES RETIREMENT PLAN PREFERENCES SURVEY REPORT OF FINDINGS. January 2004

SOCIETY OF ACTUARIES THE AMERICAN ACADEMY OF ACTUARIES RETIREMENT PLAN PREFERENCES SURVEY REPORT OF FINDINGS. January 2004 SOCIETY OF ACTUARIES THE AMERICAN ACADEMY OF ACTUARIES RETIREMENT PLAN PREFERENCES SURVEY REPORT OF FINDINGS January 2004 Mathew Greenwald & Associates, Inc. TABLE OF CONTENTS INTRODUCTION... 1 SETTING

More information

The Future of Retirement A balancing act. Singapore Report

The Future of Retirement A balancing act. Singapore Report The Future of Retirement A balancing act Singapore Report The research The Future of Retirement is a world-leading independent research study into global retirement trends, commissioned by HSBC. The global

More information

www.jpespartners.com

www.jpespartners.com www.jpespartners.com Jan-1 Apr-1 Jul-1 Oct-1 Jan-11 Apr-11 Jul-11 Oct-11 Jan-1 Apr-1 Jul-1 Oct-1 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Volume of coverage Jan-1 May-1 Sep-1 Jan-11 May-11

More information

Online Credit Card Report

Online Credit Card Report Measuring the digital world. TM Online Credit Card Report April 2011 FOR FURTHER INFORMATION, PLEASE CONTACT: Sarah Lenart comscore, Inc. (703) 234 8689 slenart@comscore.com Stephanie Houck comscore, Inc.

More information

E-commerce: The outlook for online B2C insurance in the Irish retail market.

E-commerce: The outlook for online B2C insurance in the Irish retail market. E-commerce: The outlook for online B2C insurance in the Irish retail market. Presented to the Society of Actuaries in Ireland Brian Heffernan FSAI Martin Ryan FSAI Introduction There are as many different

More information

The Money Charity is the UK s leading financial capability charity.

The Money Charity is the UK s leading financial capability charity. The Money Charity is the UK s leading financial capability charity. We believe that being on top of your money means you are more in control of your life, your finances and your debts, reducing stress

More information

Life Protection Metrics: Consumer Approaches to Protection-Related Life Insurance in Europe

Life Protection Metrics: Consumer Approaches to Protection-Related Life Insurance in Europe Life Protection Metrics: Consumer Approaches to Protection-Related Life Insurance in Europe Series Prospectus November 2012 1 Prospectus contents Page What is the research? Which titles are available?

More information

Understanding the Path to Purchase

Understanding the Path to Purchase Understanding the Path to Purchase Lisa Allan Research Director SPA Future Thinking Introduction Understanding the purchase decision process within the automotive sector is increasingly complex. In less

More information

Household Trends in U.S. Life Insurance Ownership

Household Trends in U.S. Life Insurance Ownership Household Trends in U.S. Life Insurance Ownership Full Report Cheryl D. Retzloff, LLIF, ACS Markets Research 860-285-7738 cretzloff@limra.com Maximize the Value of LIMRA Research The value of LIMRA research

More information

Motives and Origins of Gold Ownership among Private Individuals in Germany

Motives and Origins of Gold Ownership among Private Individuals in Germany STEINBEIS UNIVERSITY BERLIN Motives and Origins of Gold Ownership among Private Individuals in Germany KLEINE Financial Study Munich, October 2011 Steinbeis Research Center for Financial Services Rossmarkt

More information

Post Budget At Retirement Market - Qualitative Consumer Research

Post Budget At Retirement Market - Qualitative Consumer Research Post Budget At Retirement Market - Qualitative Consumer Research Commissioned by syndicate members: This report is for media use only and may not be reproduced or circulated in its entirety. Any quotes

More information

The Role of Professional Email Services for Small to Medium Enterprises (SMEs)

The Role of Professional Email Services for Small to Medium Enterprises (SMEs) The Role of Professional Email Services for Small to Medium Enterprises (SMEs) May 2013 The Role of Professional Email Services for Small to Medium Enterprises. Executive Summary The means by which small

More information

Age differences in graduate employment across Europe

Age differences in graduate employment across Europe November 2008 The Flexible Professional in the Knowledge Society new demands on higher education in Europe (Report 5) Age differences in graduate employment across Europe Report to HEFCE by Centre for

More information

Current challenges for the fiduciary manager. White paper published on the occasion of the 4th WorldPensionSummit

Current challenges for the fiduciary manager. White paper published on the occasion of the 4th WorldPensionSummit Current challenges for the fiduciary manager White paper published on the occasion of the 4th WorldPensionSummit Wouter Pelser, Chief Investment Officer MN wouter.pelser@mn.nl Introduction About twelve

More information

Boomer Expectations for Retirement 2015. Fifth Annual Update on the Retirement Preparedness of the Boomer Generation

Boomer Expectations for Retirement 2015. Fifth Annual Update on the Retirement Preparedness of the Boomer Generation Boomer Expectations for Retirement 2015 Fifth Annual Update on the Retirement Preparedness of the Boomer Generation April 2015 About the Insured Retirement Institute: The Insured Retirement Institute (IRI)

More information

EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION

EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION EXECUTIVE SUMMARY FINANCIAL LIFE STAGES OF OLDER CANADIANS ONTARIO SECURITIES COMMISSION EXECUTIVE SUMMARY This research identifies the top financial concerns of older Canadians and places them in the

More information

2016 OUTLOOK: GLOBAL PAYMENTS

2016 OUTLOOK: GLOBAL PAYMENTS December 2015 2016 OUTLOOK: GLOBAL PAYMENTS Disruption across the industry a global theme Around the world, new entrants (including start-ups and nontraditional players) are entering the payments industry.

More information