Marsh's schemes and affinities business is the largest in the UK by market share according to a new market report published by Finaccord, a leading international market research and consulting company specialising in financial services.
The report, Affinity and Partnership Marketing in UK Commercial Non-Life Insurance, assessed market share according to each affinity broker's share of the product partnerships market. It placed Marsh at the top of the ranking, with almost 10% of the total market (9.6%), a full percentage point ahead of its nearest rival (8.4%).
The schemes and affinities business in the UK incorporates the Marsh, Jelf and, smei brands (all part of Marsh & McClennan Companies). In recent years the business has grown significantly and now operates close to 150 schemes for a wide range of partners, including some of the leading trade associations, brands, and franchises in their sectors.
Reacting to the number one ranking, Paul Buckle, Managing Director (Schemes & Affinities) said: "We are all very proud because it is the hard work and commitment of a very talented team, working as custodians of the various schemes and customers, that has made this achievement possible.
"Over the past few years we have continued to grow existing schemes, retain all of our affinity clients, while embarking out on a range of new partnerships. Along with the prestigious industry awards we have won in recent years, including "Schemes Broker of the Year" and "Customer Service Award" , this is a fantastic result. It confirms once again that affinity clients can trust us with their member insurance schemes."
The schemes and affinities business' success is built on – a collaborative approach to working with partner organisations, flexibility, constant development, and a highly effective co-marketing operation. The team works closely with each client to understand its needs, before developing the right mix of products, services and marketing support.
For instance, depending on client need, Marsh uses its brand portfolio to deliver a highly tailored solution – whether Marsh, Jelf or smei branded, or white-labelled to deliver a partner branded scheme. That flexibility is supported through day-to-day excellent customer service by the operational centres, and a development team that works to nurture and enhance each relationship, to deliver the high-quality service clients have come to expect.
Finally, the growth of each scheme is supported by dedicated Marsh marketing resource with the expertise to deliver innovative marketing initiatives that dovetail seamlessly with affinity partners' existing communication channels. Marketing support includes building dedicated affinity websites which rank highly on all of the major search engines, engaging videos, eye-catching brochures and sales literature, showcasing at tradeshows, and frequent member communications.
For more information, contact the schemes and affinities development team on 020 7357 3161 or email email@example.com
1. Insurance Times Schemes Broker of Year Award in 2017, Customer Service Award at the UK Broker Awards and the National Broker of the Year Award at the Insurance Times Awards in 2014.