With an estimated value of more than £8bn in GWP, schemes and delegated authorities continue to be a crucial element of the market landscape. A report by Insurance Age magazine found that the market grew 15% year-on-year and, of the brokers operating in this space, 50% of them grew their schemes business in 12 months, 39% remained static and only 11% witnessed a decline.
Placed in the context of an increasingly volatile market, the attractiveness of schemes becomes obvious. But for every successful scheme, there are countless others that either failed or never made it past the concept stage. It is not as simple as coming up with an idea, selling that idea to an insurer and waiting for the money to roll in. Months of preparation, negotiation and patience are required to make a scheme or delegated authority work.
Relying on insight from individuals who have a track record of making schemes work, this whitepaper outlines how brokers can give themselves the best chance of delivering a successful scheme.
• Getting started.
• Pitching an idea.
• Ready for launch.
• Scheme smart in action.