PRN: Online Insurances are Now Booming Throughout All of Europe
Online Insurances are Now Booming Throughout All of Europe
VIENNA, June 18, 2012 /PRNewswire/ --
MOUNT ONYX, in cooperation with the UNIVERSITY of Vienna and TCI Consult, is publishing the new executive highlights of the first and most comprehensive analysis about direct & low-cost insurance in Europe ever. The "BEST PRACTICE REPORT" http://www.mountonyx.com/best_practice_report.pdf presents the major 200 insurers with direct channels in 30 Western & Eastern European countries. The study provides a first complete overview about direct channel markets & trends and the latest best-in-class strategies and tools.
Today, direct & low-cost insurance, offered mainly online and by phone, is responsible for 80 billion EUR revenues (gross written premiums) in non-life & life business in Europe. It is the fastest growing business model with a four times higher average growth rate per country vs. the total market (2000-2010). Especially in bigger Western European countries, the market pressure by online insurances is constantly increasing. Online channels are now starting their successful business also in the rest of Europe. For the next 10 years, the core market potential is estimated to represent an incremental premium volume of 44 billion EUR in Europe.
Dr. Johannes Ospald, Managing Partner of MOUNT ONYX: "We have identified 25 growth & cost-driven direct channel key success factors and many innovative best practices & facts. Whatever the current business model or country, the results create immediate practical use for all companies in the financial services sector in Europe."
Dr. JÃ¶rg Finsinger, Chair of Financial Services, UNIVERSITY of Vienna: "Direct insurance will supplement traditional channels, not replace them. To achieve above-average growth & profit, executives need to look into the future and to think incrementally. This report offers high scientific and practical value at a very fair price."
Information downloads and orders at http://www.mountonyx.com.
Dr. Johannes Ospald