Creditor Insurance in Latin America

Finaccord’s report titled Creditor Insurance in Latin America offers updated and detailed insights into the market for creditor insurance, sometimes also referred to as payment protection insurance or loan-related insurance, in six countries, namely Argentina, Brazil, Chile, Colombia, Mexico and Peru. Creditor insurance was worth USD 5.97 billion in gross written premiums in the region in 2015, including coverage for life and permanent disability as well as the temporary disability and unemployment elements.

Drawing on the results of a survey of close to 400 lending institutions, the report analyses the provision of creditor insurance by lending institutions, variances in provision by underlying lending product, operating models for provision of creditor insurance, weighted provider share of partnerships and the potential for selling creditor cover through distribution channels other than the lending institutions themselves. The PartnerBASE™ dataset that accompanies the report details each of well over 600 creditor insurance distribution deals traced by Finaccord.

You may be able to use this report and the PartnerBASE™ that accompanies it in one or more of the following ways:

• appreciate the magnitude of the opportunity in creditor insurance in Latin America and how this breaks down between policies cross-sold in conjunction with mortgages, point-of-sale automotive finance, other consumer finance and credit cards;
• identify partnership opportunities for creditor insurance and prioritise these according to the potential that they offer as defined by the size of lending institutions’ retail customer base;
• understand the supply structure for creditor insurance in Latin America and whether specialists are winning business by virtue of their focused approach;
• assess the extent to which the provision of temporary incapacity and unemployment modules within creditor insurance policies is commonplace in different Latin American countries;
•  gain insight into the presence of leading creditor insurance market participants including BNP Paribas, Bradesco, CNP Assurances, Grupo Sura, Itaú Unibanco, MAPFRE, Santander and Zurich.