Affinity Market

WHY THE AFFINITY MARKET

An effective distribution strategy for an ever-changing world

Discover why leading insurance and financial services companies use the affinity market to develop valuable offerings to win specific consumer groups.

Testimonials

Leading companies rely on affinity market to drive business growth

"Affinity is about relationships. Product providers who build solid relationships with intermediaries such as the brokers and groups with captive audiences increase the likelihood of success reaching new preferred customers. PIMA is the place where those relationships are made."

Jean-Marie Lovett, President
Bindable

"The Affinity market takes advantage of the affiliations consumers have with organizations they already trust. Partnering with those intermediary organizations helps us reach new customer bases and challenges us to develop customized solutions. Affinity keeps us innovating."

Kelly Abeles, Vice President, Strategy, Underwriting & Account Management
Prudential

"There is an incredible amount of opportunity to be innovative and creative within the Affinity market. The camaraderie in this industry really allows collaboration across disciplines and meets customers where they are."

Paul Prendergast, CEO
Kayna
Affinity Market Explained

One objective: Business growth

Some call it group-sponsored distribution, some call it B2B2C, and some call it affinity marketing. Regardless of the term, the affinity market is a distribution strategy with three main components:

INITIAL GROUPS OR AFFILIATIONS

Consumer groups that have an affiliation with and affinity to an organization (employer, warehouse club, credit union, etc.) are often more responsive to a company’s products and services because of the relationship with that organization.

TAILORED PRODUCT & SERVICE OFFERINGS

Partnered companies use organizational data to make their insurance offerings more attractive and develop targeted products, pricing, and marketing programs that provide more value to a consumer group.

DISTRIBUTION AND PROMOTION

Beyond price differentials, affinity partners look for “moments of truth” to understand the customer journey and introduce tailored marketing tactics to promote programs and leverage other products within the organization.

Why Affinity Works

The power of affinity

Companies rely on the “affinity” that consumers have for an organization to help with marketing and distributing.

Without affinity market

  • A disjointed consumer/member ecosystem.
  • General marketing programs designed to appeal to large audiences.
  • Products built to cast the widest net of users possible.

With affinity market

  • Integration into the consumer/member ecosystem.
  • More targeted marketing programs based on segmented audience data.
  • Innovative products focused on customized experiences.
Affinity Benefits

An ideal distribution model for companies in the insurance and financial service space

Using an affinity model affords a company the opportunity to develop products, services, and often pricing specific to individual groups of consumers.

For Insurance Carriers

  • Trust and brand loyalty increase conversions
  • Customized offerings to targeted audiences boost sales and enhance customer experience
  • Strategic partnerships create opportunities to do business in new industries

For Brokers/MGAs/TPAs

  • Leverages existing relationships
  • Increases perceived value among consumer groups
  • Generates access to preferred and niche markets

For Business Partners

  • Produces new lines of business across the market
  • Creates ample opportunities for collaboration and innovation
  • Enhances industry education through partnerships
AFFINITY MARKET GUIDE

Everything you need to get started with the affinity market

This resource outlines what the affinity market is, how it works, its benefits, case studies, and more.

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PIMA Insights

Our latest thinking on the affinity market

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Frequently asked questions.

Affinity refers to the B-B-C model that allows product providers to partner with intermediary organizations to reach their customers.

The Affinity Market refers to a business strategy where specialized products or services are offered to a targeted group of consumers who share common interests, characteristics, or other affiliations.

The affinity market is made up of insurance providers, insurance brokers, and the firms that provide services to those firms. It also includes the customer (the C in B-B-C), which includes employers and their employees, professional associations and their members, banks and their customers, and any number of other consumer or business groups with affiliated members.

Establishing partnerships using an affinity model affords a company the opportunity to develop products, services, and often pricing specific to individual groups of consumers. In turn, the consumer group is more responsive to the products or services, often due to more relevant offerings, to more economical solutions and to learning from a trusted and existing relationship.