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III. International Istanbul Insurance Conference 25-26 May Affinity Insurance . Affinity – Definition . Any group of customers who have the same insurance need Who can generate sufficient revenue. Affinity – Customers . Customers are purchasing products in different ways.
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III. International Istanbul Insurance Conference 25-26 May Affinity Insurance
Affinity – Definition Any group of customers who have the same insurance need Who can generate sufficient revenue
Affinity – Customers Customers are purchasing products in different ways
Affinity - Markets and Segments • Banks • Retailers • Trade Associations • Clubs
Affinity - Product • Commoditised high volume - Personal Lines • Bespoke low volume - Commercial
Affinity - Product • Standard volume products:- Home, Car , Pet, Travel, Personal Accident, Landlord Insurance • Specialist volume products:- Extended Warranty, Home Emergency, Payment Protection Insurance, Mobile Telephone • Specialist niche products:- Identity Theft, Gadget Insurance, Handbag Contents Insurance
Affinity - Brand Awareness • White labelling • Extending the brand • Synergies between Products
Affinity - Distribution • Retailers • Internet • Outbound Telephone Sales • Direct Contact • Social Media Sites
Association Benefits • Association Benefits • Revenue Generation • Attracts new members and retains existing • Adds value to the member and Association relationship • Comfort that members are properly insured • Collection of annual membership fees • Enhancement of membership numbers
Affinity – Distribution Future Trends • More data • Internet Retailers • Elasticity of Brand Values • Traditional Insurers under pressure • Social Media Sites
III. International Istanbul Insurance Conference 25-26 May Affinity Insurance