Affinity Insurance

In a typical customer protection insurance arrangement, a retailer offers its customers insurance products at point of sale. The cover can be all risks cover for the goods they purchase and can include extended warranty benefits.

It can also pay off the outstanding monies due on the purchase contract if the insured is retrenched, becomes disabled, or dies. A professional association may wish to develop and offer a tailored all-risks or professional liability insurance policy to its membership. A union may wish to offer its members basic insurance products e.g. motor insurance, householders contents insurance, life insurance, funeral insurance or savings and retirement products.

Underwriting profits can be utilised to further the aims of the association or to benefit members through lower future premium rates.