New Scheme thinking
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The Schemes and Affinity Insurance product market has been growing over the last few years. Schemes arrangements provide distribution that is niche, specialist and bespoke to the client’s needs and, at Covéa Insurance, we have seen evidence of growth through new Schemes, with an over 50% rise in new enquires to us in the first quarter of 2019. Schemes policies shouldn’t be seen as a commodity product, even as the market moves towards more e-Traded solutions. All our schemes are bespoke to the client’s requirements and are on a Delegated Authority basis - a true partnership between Covéa Insurance and our Schemes Brokers. The more information we have, the better understanding we can gain of the Broker and end-customers’ requirements. This enables us to give a scheme opportunity our full consideration. If you are thinking of moving an existing Scheme or starting a new scheme, here are some points to think about:
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It also really helps to be able to provide a copy of the question set or statement of fact to be used and any risk management requirements. We hope this has given you a useful overview of the information we look for when we are considering writing a new or existing required when thinking about a scheme. If you want to discuss anything Schemes related, please contact Nicki Crabb, our Schemes Manger. |
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Our Schemes by their very nature are “Different by Design”, and we have built a proposition to match, a true one stop shop for our clients. From bespoke wording and software, to a Lead Underwriter handling the account management and Marketing support for the scheme, both digital and traditional. Our team boasts many years’ experience between them, so your scheme is safe with us.
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