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7 simple and cost-effective steps to build a digital affinity insurance program in Asia

Learn how to digitise your affinity insurance program to streamline operations and boost customer satisfaction. 

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Many companies stay tethered to outdated legacy systems due to inertia or a lack of understanding of how digital programs can improve customer experience, audit procedures, identify fraud, and more.
 

Building a digital affinity insurance program can help companies:

  • Enjoy a seamless user journey from registration, placement, quotation, and policy binding to claims reporting and processing.
  • Get real-time data and analytics such as aggregated claims and loss ratio for data-driven decision-making.
  • Facilitate easy tracking of the program’s performance on a centralised platform.

7 simple and cost-effective steps to build a digital affinity insurance program

  1. Analyse customer experience – ensure that your customer views the insurance as a value-added product, and make sure to ease the purchase process for them. 
  2. Evaluate a risk partner – work with a reliable risk partner to secure and arrange insurance coverage for your affinity insurance program. 
  3. Assess tech requirements – ensure your platform governs how different disciplines work with one another to reduce disruption during implementation.
  4. Enhance brand proposition – partner with companies that can ensure your marketing strategy complies with regional regulations while delivering an enhanced marketing approach.
  5. Manage claims process – ensure that claims notifications are sent to you from the outset to reduce bottlenecks and inefficiencies.
  6. Improve program performance – continuously optimise your program using data derived from the platform to drive greater customer value and satisfaction.
  7. Navigate regulations – consult a third party to assess your risk tolerance and assist you in navigating regulatory requirements.

"Unleashing the potential of affinity insurance can generate new revenue and strengthen brand loyalty, yet the daunting complexity and regulatory hurdles often deter organisations. We tackle these concerns in this guide by demystifying the process and providing invaluable insights at each step."
 

Phil Hobson
International Affinity Leader, Marsh

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How an auto dealer increased revenue by adopting a digital affinity insurance program

An auto dealer partnered with Marsh to diversify its revenue stream and improve its service experience. Marsh helped the company design and implement an extended warranty program powered by Bluestream, Marsh's proprietary digital insurance platform, to deliver a comprehensive digital affinity insurance program for the client. With the new platform, the dealer is projected to increase extended warranty sales by 30% to 45%.

Partner with a reliable risk broker to build a seamless digital affinity insurance program

Transitioning from legacy affinity systems to digital solutions can be complex. A comprehensive digital affinity insurance platform can help companies rapidly innovate and respond to demands in a competitive market. 
 

In the automotive industry, for instance, Marsh Asia has helped more than 10 world-renowned brands with over 400,000 extended warranty contracts and 4.3 million devices covered under affinity electronic contracts.

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Download the guide or speak with our affinity team to find out more.

Learn more: What is affinity insurance?