Schemes: Scheme boom to drive down rates
Commercial affinity schemes are growing in popularity but increased competition could have a detrimental impact on rates.
According to recent research from Finaccord, 42.9% of professional and trade associations in the UK have a commercial insurance affinity scheme for members, compared to 34.7% in 2008.
The report Affinity and Partnership Marketing in UK Commercial Non-Life Insurance found the majority (52.9%) of affinity partnerships were run by brokers but that as 150 intermediaries were active in this space, market concentration was low, with the top five of these holding just under a quarter of the
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