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Home > Special Projects > Affinity Groups
Affinity Groups Affinity Groups
An "affinity group" is a phrase usually heard from insurance company marketing representatives or underwriters. In the insurance industry it often means homogenous units, thus the ability to insure them in a single program.
As a practical matter, Affinity Groups can have as their only link the fact that they are alike in some meaningful way. For example, all the units involved in the selection are homeowners with new heaters or a particular model of house. In either example, an insurance company could insure all the heaters under a master policy, or all that model house in some marketing program.
More than likely, though, there are several reasons to link participants in the affinity group, thus the program has a higher likelihood of lasting. For example, all of the shoe repair shops in the state of Texas can comprise an affinity group and thus obtain insurance on a group basis as well as obtain other benefits from their new purchasing power.
Affinity Groups
An "affinity group" is a phrase usually heard from insurance company marketing representatives or underwriters. In the insurance industry it often means homogenous units, thus the ability to insure them in a single program.
As a practical matter, Affinity Groups can have as their only link the fact that they are alike in some meaningful way. For example, all the units involved in the selection are homeowners with new heaters or a particular model of house. In either example, an insurance company could insure all the heaters under a master policy, or all that model house in some marketing program.
More than likely, though, there are several reasons to link participants in the affinity group, thus the program has a higher likelihood of lasting. For example, all of the shoe repair shops in the state of Texas can comprise an affinity group and thus obtain insurance on a group basis as well as obtain other benefits from their new purchasing power.
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