How to… Present a scheme

In a nutshell ▶ Brokers must demonstrate they understand the sector and the opportunities it presents ▶ Provide solid evidence of their capabilities for marketing and administration and ideally evidence of other schemes’ successes ▶ Explain how the scheme will operate including how the proposition will differentiate the scheme from open market products ▶ Outline the processes that will be put in place to manage and monitor the scheme’s performance

The secret of a good scheme is to fully understand the target market in depth; that necessitates the broker having an intimate knowledge of potential customers. A good idea in isolation is not enough; an insurer will want to be assured that the broker knows what customers need. For example, what does the economic outlook for this sector look like in the medium to long-term? Is the sector undergoing change that might lead to wholesale replacement of machinery and equipment or the introduction of