Retailers more involved in distributing insurance in South Africa, Latin America than in North America: Research and Markets

Major retail chains are more highly involved in the distribution of insurance in South Africa and Latin America than they are in North America, according to a global survey conducted by Research and Markets.The study, Global Retailer Insurance: Affinity Schemes in Supermarkets and other Stores, looks at the activities of more than 100 major retailing groups, including Abercrombie & Fitch, Costco, eBay, Gap, Hudson’s Bay Company, IKEA, Loblaw, Metro, Office Depot, Safeway, Sears, Toys ‘R’ Us and Walmart.Out of the companies researched, 19% reported selling standalone insurance products in South Africa, followed by 9.4% in Latin America and 7% in North America.Overall, 232 major retail brands, drawn from 106 retailing groups in 35 countries, were active in ‘brandassurance’ by 2010 Q1. More than 5% of the retail chains investigated in 12 countries (including Canada) are active in selling insurance, the report notes.The report cites a Finaccord study in the United Kingdom, which shows almost 20% of U.K. consumers acquiring pet insurance did so by means of a supermarket or other retailers or retail chains. The full Research and Markets report is available for a fee at: http://www.researchandmarkets.com