SchemeServe Index highlights top-performing schemes

Cloud-based insurance software provider SchemeServe has found professional indemnity, pubs and clubs, and cyber schemes were the top three performers in terms of volume, gross written premium and commission earnings in the six months to 30th September 2021.

SchemeServe’s bi-annual index tracks trends and performance in the insurance schemes market. In the latest period, professional indemnity schemes recorded a 69% increase in volumes, a 726% increase in first premium and a 28% increase in renewal premium. They also showed a 272% increase in commission earnings. Average premium recorded in this period was £1,811.92.

Pubs and clubs schemes, which had seen premium volumes fall by 40% in the previous six months, were up by 71%. Premiums in the latest period were up by 130% with the average premium at £4,636.45. Commission earnings were up by 136% on the previous 6 months.

In cyber, volumes were up 108%, premiums up 37%, and commission earnings up 100% compared to the 208% increase already witnessed at the start of this year.

Looking to the future Adam Bishop, CEO of SchemeServe, predicted contractors all risks and property owners’ schemes may perform well in the months ahead.

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