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What is an affinity scheme?

where a firm forms a scheme with another business (usually a brand whose main business is not insurance) to distribute home insurance or motor insurance products to consumers under the partners brand name.

What is affinity market in insurance?

What is affinity insurance? 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.

What is an affinity sale in insurance?

An affinity sale is the sale of insurance through groups such as business or professional associations.

What is an insurance affinity program?

Affinity insurance is supplemental insurance that companies offer their customers and that is taken out at the time of purchase of a consumer good or a specific event. This optional coverage can be taken out by the end customer or covered in full by a company that wants to offer it as a free gift to its customers.

What is an example of affinity insurance?

Some examples of insurances included in affinity group specialist products: Property, accidental damage, stock, glass breakage, business money. Business interruption.

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