In 2017 our partnership with this unique scheme covering all risks for hirer and suppliers of lighting or audio-visual equipment was established. The scheme today also provides cover for event management and support trades. We successfully obtained the business after winning an extensive pitch process. Our partner then moved its clients to AXA from one of our competitors.
We used all our internal expertise across our dedicated schemes team, specialist underwriters and customer services to win the contract. The proposition not only impressed the founder, but demonstrated how we could support the scheme’s growth, and not simply house it, but provide it with the perfect home.
The 2020 pandemic has impacted some opportunities for growth with this scheme. To maximise opportunities, we tightened up our proposition to enable our client to attract and retain more business. With the continued strong relationship with the founder, we arranged an annual marketing fund to support in growing the scheme through various trade advertisements, presenting opportunities at shows and general emphasis on raising its profile. Having understood the needs of this scheme we then created some bespoke wordings.
To ease transition this was successfully achieved though working with our technical experts to adapt our approach to assessing risks, to ensure customers are charged fairly.
We also assessed how well the client met all regulatory requirements and provided the necessary governance and compliance support to create a customer focused proposition.
Our specialist underwriters are currently developing a more competitive rating strategy to enable the scheme to attract larger AV companies to facilitate market growth of the scheme. With these changes we expect the growth to remain profitable.
If you have any questions about this case study, or looking to develop a new scheme, then please contact the team who will be happy to help.
"...a partner that is as committed to success as we were. The team continue to deliver to high standards, and it's a pleasure to deal with the individuals."