科尔尼一份保险行业咨询报告.pdf

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1、PerspectivesonPerspectivesonLifeLifeandandPensionPensionFundsFundsIstanbul,June4th20021A.T.Kearney18/Data/Misc/Rel.Com./CA/05PerspectivesonLifeandPensionfunds-Agenda¢Marketpatterns¢Performancedrivers¢SpecificitiesoftheTurkishmarket¢Implicationsintermsofstrategyandtransformation2A.T.Kearney18/Data/Mi

2、sc/Rel.Com./CA/05Marketpatterns3A.T.Kearney18/Data/Misc/Rel.Com./CA/05MarketpatternsThispresentationaddressesthelongtermsavingsstrategicsegmentofthelifeinsurancemarketFinancialservicesEachsegmentischaracterizedbyspecificstrategicdemandcharacteristics,competitivesegmentationadvantagedrivers,supplystr

3、ucturePropertyandcasualtyInsuranceAccidentand•PersonalaccidentinsuranceHealth•HealthinsuranceLifeinsuranceLongterm•SavingsinsurancePresentationsavings•PensionfundsscopeSavingsShorttermsavingsLoansCashandDebtservicesCashservices4A.T.Kearney18/Data/Misc/Rel.Com./CA/05MarketpatternsGlobalLifeandPension

4、fundsmarketsareverydiverseintermsofbusinessenvironment¢AstructuralgrowthofLifeandPensionfundsmarkets•Agingofpopulationmix•MoreconstraintsonStatesbudgetdeficit¢Astrongdiversityofdemandandregulatoryenvironments•CustomerpreferencesBankdepositsin%ofsavings(2000)47%32%24%15%10%GermanyFranceUKNetherlandsU

5、S•Taxregimes-variousdegreesoftaxincentivesforLifecontractsandunit-linkedproducts-DIYpensionscanbeencouragedornotbytheStatetaxregime•Regulatoryregimes-nocrossownershiprestrictionbetweenbanksandinsurancecompaniesinEurope(restrictionintheUSuntil1999)-legislationwhichrestrictsnon-independentadvisorsinth

6、eUK5A.T.Kearney18/Data/Misc/Rel.Com./CA/05MarketpatternsNationaldemandandregulatoryenvironmentstranslateintoverydifferentdistributionchannelmixLifeInsurance–DistributionChannelMix-1999;%-Direct/other45291010Companyemployees916102426TiedAgents/41222710salesforceIFAs49245814506447Banks6160505013301912

7、10SpainFranceItalyBelgiumNetherlandsGermanyUSAUKSources:Italy–Ania;Spain–UNESPA;France-Moody’s;ATKearneyAnalysis;Germany-Datamonitor,BankVontobel;Netherlands-Datamonitor;MorganStanleyDeanWitter,ATKear