Affinity Groups
RIA works with multiple Affinity Groups (any group which has come together for a cause, but not for purchasing insurance) to help insure their members. We work with Affinity Groups to manage all aspects of their program – marketing, member addition/ deletion, policy administration, premium collection, tax planning, and claims.
Our strength for our Affinity programs come from two areas:
- Our ability to structure the right insurance coverage for the group’s members
- Our use of technology and analytics to manage the insurance program
Amongst others, we offer the following insurance products to Affinity Groups:
- Health Insurance
- Personal Accident
- Extended Warranty Plans
- D&O and Professional Indemnity Liability
- Marine Cargo
- Motor Insurance
In addition to standard offerings, affinity insurance solutions are custom-built for specific groups, providing relevant, affordable coverage at a large scale. These products strengthen brand loyalty and can be embedded seamlessly into customer transactions.
For financial institutions and fintechs
- Credit protection insurance: Covers loan or EMI payments in case of events like death, job loss, or disability.
- Card enhancement programs: Provides added value for credit card holders, with benefits such as extended warranties, purchase protection, and travel insurance.
- Cyber protection: Shields customers from risks associated with online transactions and data breaches.
For e-commerce platforms and retailers
- Extended warranty and accidental damage: Offers protection for high-value products and consumer electronics beyond the manufacturer’s warranty.
- Purchase protection: Covers online and offline purchases made with a partnered credit card or account against theft or accidental damage.
- Mobile device protection: A type of micro-insurance that protects smartphones and other devices against theft, damage, and liquid damage.
For travel and tourism
- Trip cancellation and interruption insurance: Reimburses travelers for non-refundable expenses if their trip is canceled or cut short due to covered reasons.
- Baggage loss and delay coverage: Provides compensation for lost, stolen, or delayed checked baggage.
- Medical and repatriation coverage: Offers coverage for medical emergencies and the cost of emergency medical evacuation and repatriation.
For automotive and mobility companies
- Extended warranty plans: Offers coverage for vehicle repairs after the standard warranty expires.
- Tyre insurance: Protects individual buyers or fleet owners from the costs associated with tire damage.
- Usage-based insurance: Tailored programs that use data on driving habits to offer customized insurance rates.
For professional and trade associations
- Professional indemnity (PI) insurance: Protects members, such as doctors, lawyers, and accountants, against financial losses arising from alleged professional negligence.
- Specialty health and life insurance: Provides customized plans for an association’s members, often at a discounted rate.
- Directors and officers (D&O) liability insurance: Protects the leaders of an organization against claims of wrongful acts committed in their capacity as directors or officers.