Friday, 16 March 2018

New opportunities as Cigna departs travel partnerships?

The recent announcement that Cigna is exiting the travel insurance market in the UK (see Insurance Post article dated 16th February 2018) has left open a number of opportunities for other travel insurance providers, specialising in the affinity market. 

In the last month, Collinson has already taken advantage by announcing a partnership with over-50s specialist Saga (see our post dated 13th March 2018 for details), and Insurance Post also suggested that AXA would replace Cigna as the AA's travel insurance partner. 

Hood Group, which has also been particularly active in the travel insurance market, has recently replaced Cigna as the provider for esure and Sainsbury's Bank. The esure account is being underwritten by AWP (Allianz) and Sainsbury's Bank by ETI International. 

Other than the AA, Barclays Bank remains the only other significant travel insurance account still being underwritten by Cigna, but this too, is expected to move in the near future. 

Tuesday, 13 March 2018

Saga partners with Collinson for travel insurance

Saga has announced that Collinson has been selected as its new travel insurance partner, with policies underwritten by Great Lakes Insurance. The partnership applies to all standalone and optional Saga Holidays travel insurance covers. 

The partnership is a significant one for Collinson, which is well known for the provision of insurance, loyalty and lifestyle benefits in the travel sector. 

The new partnership coincides with the announcement (see Insurance Post article dated 16th February 2018) that Cigna, Saga's previous partner, is exiting the travel insurance market. The same article also suggested that Cigna's travel insurance partnership with AA  Insurance would soon be underwritten by AXA. 

Saga maintains a strong position in the over-50s insurance market and works with a panel of insurers for its car and home insurance (RSA provides its "high net worth" - TailorMade - home cover). It also partners with Acromas (previously Saga Insurance) for its pet, breakdown and personal accident covers.