2013-09-03 23:35:14 - PIMA announces results from member survey on the association and affinity market program
Chicago, IL – September 4, 2013 – The Professional Insurance Marketing Association (PIMA) has rolled out results of its latest member survey on the association and affinity program market. The survey is a follow-up to PIMA’s Affinity Marketplace Survey published last year estimating the affinity market at more than 26 million certificates in-force — and growing.
“The goal of this ‘deeper dive’ survey is to reveal greater detail on products and quantitative business benchmarking metrics,” said Sam Fleet, PIMA President. “The insights provided are valuable to any organization that shapes and implements marketing programs in the association and affinity group space.”
This survey, as with the earlier effort, was conducted in conjunction with IBIS Associates, Inc. Key reported findings:
PIMA members account for close to $10 billion in premiums of a more than $60 billion in-force market opportunity.
- Larger association and affinity groups (with over 100k members) represent 75% of all in-force association/affinity premiums.
- P&C products account for 69.5% of association/affinity sales and for 65.6% in-force premium. Life/health products are responsible for the balance — 30.5% and 34.4% respectively.
- Affinity groups and professional associations account for 65% of all affinity market in-force premiums. Credit unions and non-professional associations are responsible for another 25% of in-force premium.
Detailed survey results are available only to PIMA members and include: product, group type & group size segmentation; direct marketing response rates; emerging product & marketplace opportunities; and key areas of Agency and Carrier investment.
About IBIS Associates, Inc.
IBIS Associates is a Washington, DC-based research firm with more than 25 years of experience producing in-depth market analysis studies for industries including insurance.
About PIMA – Where Affinity Business Grows
The Professional Insurance Marketing Association (PIMA) connects & empowers leaders in the affinity benefits industry to thrive in a dynamic marketplace. For more information, visit the PIMA web site at www.pima-assn.org
or contact PIMA CEO Mona Buckley at (817) 569-7462 (PIMA).