Thursday, 22 October 2015

Sun Life partners with Brightside on home insurance

Following its recent entry into the pet insurance market with BDML (see our post dated 30th September 2015 for details), Sun Life has confirmed a new partnership with Brightside for home insurance, using the broker's existing household insurer panel. 

The partnership is for an initial 5 year period and supports Sun Life's ambitious growth plans of securing 250,000 customers in the next 4 years; even without an existing book of business to develop. At the time of writing, a household insurance quote system is not yet available on the Sun Life website. 

Sun Life is planning to add a number of new general insurance products and features to its range, following the recent recruitment of Simon Stanney as its GI Director. 

Brightside currently works with a small number of other partners; mostly on motor insurance. These include Asda Money (car), Churchill (van), NatWest (van) and Royal London (car). 

Wednesday, 14 October 2015

Virgin Money launches insurance partnership with last

Virgin Money has launched its new home and motor partnership with Ageas, having originally announced it in December 2014 (see our post dated 23rd December 2014 for details). As expected, Ageas will underwrite the household products and will use a panel of insurers for the motor product. Ageas will be providing the sales, servicing and claims capabilities for the new partnership. 

It is understood that the partnership does not involve the transfer of an existing book of business from BDML, Virgin Money's previous home and motor insurance partner and despite the attraction of the brand, the volume of Virgin Money insurance customers has never been considered significant.  

Nevertheless, Virgin Money does have a wide range of channels including 70 "stores" and "lounges", although this branch network does not offer mortgage advice, or the long-cherished "point of sale" household insurance opportunity for Ageas.  

Virgin Money continues to work with Insure & Go for its travel insurance, UK Insurance for pet insurance and Friends Life for life cover. 

Friday, 9 October 2015

Bupa chosen to partner with Benenden

Benenden, a leading healthcare and "well-being" provider has announced a partnership with Bupa, which has won a tender to administer a range of Benenden's products and to arrange diagnostic and treatment services for its 900,000 customers. The new partnership will extend the network of UK hospitals available to Benenden's customers.

The partnership is understood to be for 5 years and worth in the region of £200 million over this period. In July 2015, Bupa took over responsibility for Benenden's health cash plan product; which, since 2011, had been underwritten by Engage Mutual. 

Benenden recently announced a home insurance partnership with Hood Group (see our post dated 23rd July 2015 for details) and also works with Insure & Go for travel insurance.