BIBA’s Official Non-Standard Schemes Provider Lisa Brennan – Regional Director

2. How has the Scheme’s Market changed? 3. Who needs a Scheme? Learning Objectives 1. What is a Scheme? Thanks for joining Going to talk about the schemes market and how brokers and insurers need to adapt to the changing needs of the consumer In addition how technology will play a part in the development of schemes 2. How has the Scheme’s Market changed? 3. Who needs a Scheme? 4. Benefits to Customers 5. Benefits to Brokers 6. Case Study 7. How Accelerate can help

A Scheme is… 1. What is a Scheme? A bespoke product solution Often referred to as a scheme or facility, A bespoke solution offering wider cover and features and benefits designed to appeal to the target audience This could mean a tailored product and rating structure Aligning to trade bodies affinity groups etc means that a level of expertise is developed by the broker and underwriter leading to a strengthened relationship A bespoke product solution Tailored cover and / or rating Access to an affinity group, distribution channel or customer base

How has the Scheme Market Changed? 2. Change in the Scheme’s Market How has the Scheme Market Changed? We all know we need to embrace new and innovative technology in order to survive the ever changing insurance market and schemes business is not immune to those needs In the past broker may have seen schemes as a small part of their business in fact 1/3 of brokers don’t have direct access to a scheme. However with new business being harder to attract for brokers schemes give them regular and consistent access to a growing client base. Schemes gives a broker th opportunity to stand out from the crown with their chosen target market allowing them the ability to cross sale or sub broker again widening the opportunity. The rise of social media will have a huge impact on all business but can be positive in allowing your client to share their experience with like minded groups of people Broker and clients need instant response trading a product manually automaticly introduces delays that can be overcome by using online platforms Analytics is an essential part of the development of a scheme. Trading using online platforms means a greater opportunity to analyse your client base and spot trends before they happen The Scheme’s Market has developed significantly in recent years making it an important part of brokers appetite. Things that need to be taken in to account now include… Need to trade online No longer a side line Stand out from the crowd Social media Access to decision makers Analytics

Who? 3. Who needs a Scheme? Affinity groups Schemes can be developed to appeal to a wide range of markets Affinity groups/ trade associations or simply the consolidation of a large book of business containing a few common denominators, You may have a client base which has a de,mand for one particular cover or enhancement which could be wrapped up into a scheme EXAMPLES Affinity groups Customers with a common denominator Specialist Customers

Benefits to Customers 4. Customer Benefits Tailor made cover EXAMPLES Tailor made cover Buying power Access to knowledge Safety in numbers

Benefits to Brokers 5. Broker Benefits Third Party Endorsement Working with a affinity group means that you automatically have the endorsement of a professional body already know to the client base This will allow easy marketing and access to their client base One product one system one type of client will provide operational efficiencies by default Stronger relationships will appear particularly with a affinity group Allowing staff to specialise in an area and develop stronger relationships wit=h client will help with retention Third Party Endorsement Access to Market Operational efficiencies Stronger Relationships Staff retention and development

Case Study – Forestry 6. Case Study Before… Existing scheme Broker approach us with an existing scheme that had run profitably for a number of years There had been no changes or updates to the scheme meaning and the wording had remained the same. As it was traded through a Lloyds market each case was individually underwritten meaning there were sometimes inconsistencies in the endorsements and pricing. Technology was moving on in the industry meaning there were risk improvements that were not reflected in the pricing. Manually trading the scheme meant that there was little opportunity for the team to actively sell the product so growth was stagnant and the broker relied on word of mouth. We identified some areas where improvements to technology had improved risk and therefore we were able to take a different stance on wording and endorsements We kept the same rating but built and online system that made pricing consistent. System is full cycle Edi and so quote bind and issue of paperwork is instant. Branding the documentation means that the broker can market the product leading to profitable growth in the scheme Before… Existing scheme Manually traded Lloyds market capacity Manual endorsement Changing technology Stagnant growth Split markets Now… Risk improvements identified Bespoke wording Same rating Online platform developed White label Profitable growth Commissions

Accelerate… 7. How we can help As BIBA’s official non-standard facilities provider, Accelerate Underwriting specialises in building bespoke solutions for non-standard, specialist and niche commercial schemes for Property and Casualty business in particular. We reverse traditional models as instead of offering pre-designed products, we listen to our broker partners insights and build bespoke facilities make our approach refreshingly different. With the use of our product governance and underwriting expertise, we will help you through the process of identifying your non-standard business, designing solutions and rapidly building efficient propositions that meet customer needs. Our expertise in underwriting and product governance then support you, our brokers, by allowing you to focus on operations and sales. While our brokers have access to all of our underwriters, each product has a lead underwriter that they can build a strong relationship and provide training on the scheme. Our ability to rapidly develop innovative insurance products to meet broker and customer needs derives from our web based trading platform AcceleRATER. It is a full cycle web-based quote and bind system that has been specifically designed to create and transact non-standard products. Alternatively we can also work with you to build and launch the product on your chosen IT platform Refreshingly different – we reverse traditional models Specialise in building bespoke solutions Expertise in underwriting and product governance AcceleRATER, our web based trading platform Access to both Lloyd’s and non-Lloyd’s capacity Insure more than 160,000 businesses and individuals

8. Questions Questions?

Calls may be monitored and recorded for quality assurance purposes. Thank You Accelerate Underwriting Limited is an Appointed Representative of Resolution Underwriting Partnership Limited, which are authorised and regulated by the Financial Conduct Authority (FRN 308113) in respect of general insurance business and is registered in England No. 05104119. Registered Office: Number One, 1 Vicarage Lane, Stratford, London E15 4HF. Calls may be monitored and recorded for quality assurance purposes.