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Affinity

With over 30 years of experience, Marsh can help you create an affinity insurance scheme that takes your brand further and offers members the unique coverage and support they need.
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For affinity partners, trade associations, and franchises, finding new ways to capture growth and reduce risk for members is a key component of success.

Whether you oversee a global corporation or a smaller enterprise, creating an affinity group insurance scheme can help you offer new value while attracting more business. An affinity group insurance scheme provides greater control over risk management and the ability to capture new cost efficiencies, reduce claims frequency, and improve member safety.

Although the benefits are clear, many organisations lack the time, resources, or internal expertise needed to manage a successful affinity group insurance program. At Marsh, we will help design, implement, and support a full range of insurance and risk management solutions built around the needs of your own members.

Guide

How to build an affinity insurance programme

Are you overwhelmed by the complexities of providing insurance to your customers or members? Are you currently offering an affinity or embedded insurance programme that is not performing well? Use this guide to help build or enhance your affinity insurance programme.

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Please consult with a Marsh adviser on product availability in your region.

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Unlock your revenue potential

Are you ready to explore how affinity insurance can add value to your organisation?

Book a free 30-minute meeting.

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Case studies

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Case Study

Franchisee insurance program drives 14% revenue growth over four years

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Marsh partnered with the franchisor to design a comprehensive and tailored insurance program aimed at addressing its franchisees’ challenges.
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Consumer cyber protection in the age of digital dependence

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To protect consumers against cyber risks, Marsh developed an embedded micro-cyber insurance programme, which can be used by organisations across a broad range of sectors.
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FAQs

An affinity insurance programme is a customised insurance offering designed for a specific group or organisation, such as a professional association, trade group, or franchise. By leveraging the collective buying power of the group, the sponsor (your organisation) can negotiate favourable insurance terms and pricing. Members of the group can access insurance coverage tailored to their specific needs at competitive rates.

Plus, a new affinity insurance programme can create an additional income stream for your organisation by introducing a structure that benefits you — among other powerful benefits such as increased customer penetration and strengthened brand loyalty.

Here are a few examples where Marsh clients have harnessed the power of insurance for their affinity programme. Please note that products may vary by region.

  • Providing professional indemnity insurance for lawyers, accountants, dentists, doctors, allied health professionals through the professional association.
  • Offering business insurance for contractors and tradespeople through the relevant trade association.
  • Creating a customised package including property and business interruption insurance for a franchise and its franchisees.
  • Incorporating accidental damage and theft protection for devices, equipment, and heavy machinery.
  • Providing content insurance as part of the service contract for a student rental association.
  • Offering insurance for peer-to-peer rentals or sharing mobility services.
  • Helping gig workers get ride protection coverage.

In an affinity programme, a broker plays a crucial role in helping build the insurance offering. The broker acts as an independent adviser to the sponsor group or organisation. By working closely with the sponsor to understand their specific insurance needs, the broker designs and negotiates the terms with the insurance provider. Additionally, the broker assists in managing the programme which can include providing the digital platforms, handling policy administration, claims processing, and ongoing support for the members.

Affinity insurance and embedded insurance are both specialised insurance offerings, but they differ in their approach. Affinity insurance programmes are designed for specific groups or organisations, leveraging the collective buying power of the group to negotiate favourable terms and pricing. These programmes provide tailored insurance coverage to the members of the group.

On the other hand, embedded insurance refers to insurance coverage that is integrated into the sale of a product or service offered by a non-insurance organisation. For example, when you purchase a new smartphone, it may come with embedded insurance coverage for accidental damage or theft. Or you purchase a car which comes with extended warranty and motor vehicle insurance. The insurance is seamlessly bundled with the product or service, providing a convenient and comprehensive solution for the customer.

While both affinity and embedded insurance aim to provide specialised coverage, the key difference lies in their distribution and target audience. Affinity insurance targets specific groups or organisations, while embedded insurance is integrated into products or services to offer coverage to a broader customer base.

Talk to us

Contact us to get in touch with an industry or risk subject matter expert, learn more about a specific solution or submit a sales/RFP inquiry.

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