Wednesday, 30 May 2012

Tesco launches van and tradesman insurance with AXA

Tesco has announced the launch of specialist van and tradesman covers for SMEs, in a new partnership with AXA. The insurer is responsible for the "sales, adminstration and underwriting" of the new products and it is understood that this is through its Partner Solutions team based in Glasgow.

Tesco van insurance can also include motor breakdown and legal cover provided by AXA Assistance and Lawclub respectively. The tradesman policy is based primarily on a public liability cover, which can be extended to include employer's liability, tools and trailer contents.

The launch of SME covers by Tesco does not come as a surprise, although the choice of AXA over its car and houseold insurance joint venture partner, Ageas, is of some interest.  

Friday, 25 May 2012

RSA announces John Lewis partnership

RSA has announced a partnership to provide household and pet insurance to John Lewis and Waitrose customers.

The announcement came in RSA's results for the first quarter of 2012 and unusually for such a major partnership deal, this was made in advance of final contracts being signed. (Update: Official confirmation of the deal made on 24 July 2012.)

The partnership follows a detailed tender exercise managed by the John Lewis Partnership in 2011 and represents a significant loss for AXA; of what is widely regarded as one of the UK's leading affinity partnerships. AXA remains the incumbent insurer for household, pet, travel, wedding and event covers. It is understood that the travel cover is also likely to be removed from AXA's portfolio and further launch announcements are expected soon.

Ageas continues as the motor provider through its UKAIS operation and Friends Life as the life provider.