Thursday, 9 March 2017

Direct Line secures partnership with Tesla (and Nationwide update)

Direct Line has announced a car insurance partnership with Tesla Cars, as part of a wider initiative into advanced technology and driver aids. The partnership has not been arranged through Direct Line Group's (DLG) partnership business - "Brand Partners" - and appears to be an "introducer only" relationship. Current estimates suggest there are over 2,000 Tesla vehicles in the UK, but the brand is experiencing strong growth. 

DLG currently has more traditional motor manufacturer partnerships with Peugeot and Citroen and at its 2016 results presentation (7th March 2017), DLG also announced that the length of these partnerships had been extended.

A more significant announcement was also made in the results presentation regarding DLG's household insurance partnership with Nationwide Building Society. This had been expected to move to RSA in February 2017 (see our post dated 17th December 2015), but to date this has not happened and DLG announced that "Nationwide termination date [is] currently being reviewed and may result in a later migration." 

No additional details were provided.