Willis Expands Affinity Business into North America, UK

Willis Group Holdings plc announced that its Affinity business will become a new global practice as it expands into the North American and UK markets.

“Existing Affinity-like businesses in these high potential regions will become part of the new practice and act as footholds for future investment and expansion,” Willis said. “The new approach means Affinity operations worldwide can draw on greater networks and a global client base, and also leverage recent investment in IT systems.”

Willis considers Affinity business as a “high-growth area,” whose insurance solutions “reach everyday consumers and SMEs through partnerships and distribution agreements with retailers, employers and other organizations.

The bulletin explained that “Affinity focuses on a range of sectors, including: finance, retail, manufacturing, utilities, telecoms, car dealerships and large employers.” Some examples include mobile phone insurance provided by a telecoms operator, or a trade association offering tailored insurance products to its members.

Willis North America CEO Todd Jones commented: “The US is the largest Affinity market in the world and consumers are used to buying insurance products from retailers and other intermediaries, so this is a space where we see great potential for growth and innovation. Our challenge is to find the best solutions for partners, and that’s something in which the team has a great track record.”

Tim Wright, CEO of Willis International, added: “Affinity has been one of the growth engines for Willis International in recent years, with a distinctive and compelling model that will benefit from application across the entire Group.”

Willis also noted that its “Affinity business, which directly employs around 450 associates outside of the UK and North America, has proved a great success in markets around the world, including Latin America, Europe and China.”

Roberto Tinoco Pinto, CEO of Affinity, said: “Going global means we can leverage our existing success and replicate our best practices from around the world in North America and the UK. I’m excited about the opportunity to develop these markets and continue growing our business aggressively. We’ll be assessing the current operations in these new markets to refresh our approach, draw on global resources, and consider future investment and expansion.”

Source: Willis Group Holdings