Affinity

With over 20 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.

Linking your business with our expertise can open up new opportunities. An insurance scheme, designed exclusively around your customers’, members’, and/or franchisees' interests, can enhance your own proposition and the confidence they have in you. By providing added value, you can strengthen relationships, helping you retain and attract new business. Your new scheme could also create an additional income stream by introducing a structure that pays commission to you.

Setting up a bespoke scheme is easier than you think because of the resources we have at our disposal. We are one of the world's leading risk and insurance advisory specialists and have built our business by delivering highly professional and efficient services.

By taking the time to understand your business, we develop the insight that helps us define the risks that need to be covered.

The result: A bespoke solution for your business; one which meets your needs expectations.

 

Affinity Partnerships

When you work with Marsh, you can expect services that align with your brand, culture, and values. Our expertise and in-depth market knowledge helps us create products that are truly fit-for-purpose.

We believe it's the personal touch that makes the difference. An important aspect of our scheme will be the support we provide to you and your customers. We take the time to listen to you to understand the needs of your business and customers before designing a flexible solution that meets your requirements in terms of content and pricing. 

 

Trade Associations

Introducing a cost-effective insurance scheme designed specifically for your members is a great way to add value to your trade association and strengthen your membership base. It could also help you attract and retain loyal members.

By taking time to understand your association, we develop the insight that helps us define the typical risks your members face, helping us to provide you with the right level of cover. Some associations may have specific membership requirements, such as a minimum level of professional indemnity insurance. We take these factors into consideration when developing your scheme to create a solution that appeals to your members in terms of its content and pricing. 

 

Franchises

Give your franchisees a head start by making it easy for them to protect their businesses from day one. By offering a bespoke insurance scheme, you could help free up their time to focus on running their business, safe in the knowledge that they have the cover they need. This could be a great way to add value to your franchise and strengthen your brand as you build your franchise network.

By understanding the contractual arrangements between you and your franchisees, we help ensure the correct insurance is in place to cover everyone's needs. We then design a flexible solution that appeals to your franchisees in terms of its content and pricing. We believe it's these details that make the difference.

Related articles

An affinity organization is formed around a shared interest or goal, to which individuals formally or informally belong. Some common examples include alumni associations, business groups, and military organizations.

In addition to these, affinity organizations also include:

  • Trade associations: An organization founded and funded by businesses that operate in a specific industry.
  • Franchises: Created when a franchisor licenses its business model and brand to other franchisees.

To better pursue members' interests, affinity group leaders should look toward an insurance scheme designed around their unique needs and risks.

Affinity insurance provides policies unique to the members of the group. By pooling together risk, participants are able to reduce the costs of coverage.

These insurance schemes are formed when a group of individuals or entities come together to jointly own a captive insurance company. For organizations or individuals who lack the resources to create their own captive, a group scheme offers minimized risk, increased coverage, and lower costs.

By creating a program specific to your own group, your organization is able to build a customizable plan that offers the solutions to risk areas that more generic policies likely will not address.

Affinity insurance offers pricing stability, insurance coverage stability, and improved services.

A cost-effective insurance scheme, designed exclusively around the interest of your customers, members, or franchisees, can help you pursue your own business objectives and enhance the reputation of your company or organization. By providing this added value, you can strengthen relationships, helping you attract and retain loyal members.

A new affinity insurance scheme can also create an additional income stream for your business by introducing a structure that pays commission to you.

When creating a scheme that directly benefits members of your affinity group, it's crucial to consider any membership requirements and any other unique considerations, business protections, and pricing.

After deciding to form an affinity insurance scheme, you’ll need a captive manager to lead the process.

At Marsh, we can help you set up an affinity insurance scheme tailored to the unique risk needs of your potential insureds. By understanding the threats you and your affiliates face within the context of your business, we gain insight that helps us define the risks to be covered and create a solution tailored to your specific risk profile.

Our experienced team will work with you to define, design, and deliver the right products for your affinity group members.

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Thomas Delaney

Head of Affinity, New Zealand