Customer insurance schemes
Advice in 9 key areas:
CUSTOMER INSURANCE SCHEMES
Businesses with a strong market reputation and a large customer base, such as the major supermarkets, have been able to enhance their brand loyalty and customer knowledge by selling a wide range of valuable insurance products to their customers and make significant profits into the bargain. Other have targeted specialist products such as motor dealers selling GAP insurance, travel companies selling travel insurance, electrical retailers selling warranties and hire companies selling damage waivers.
The key to success for customer insurance schemes is getting the products and product mix, the marketing proposition, the contractual deals with insurers and service providers and the regulatory position absolutely spot on.
We help businesses to set up customer insurance schemes in a commercially effective and regulatorily compliant manner, as well as re-structuring existing schemes to improve returns, including advising on:
- The suitability of a client’s trading platform
- Revenue options e.g. commission/profit share/underwriting profit/risk sharing/JVs
- Suitable legal structures
- Identifying and securing key stakeholders
- The core agreements which underpin the structure
- Regulatory issues
- The content and use of point of sale documentation
- The development of compliant point of sale procedures
To explore how our distinctive approach could benefit your business, please contact Nigel Wallis on 0151 906 1000 or contact us.
