iGO4 & Markerstudy - partnership, direct or aggregator Play?

iGO4 has announced its first "partnership" with Markerstudy, under the Zenith Insurance and Zenith Insurance Plus brands.

Markerstudy has, to date, relied heavily on broker distribution and this development enables the organisation to launch a direct capability, offered primarily through the aggregators, where iGO4 has rapidly built a strong position.

The development of "direct" brands by previously broker-focused insurers is by no means a new phenomenon and nor is the use of aggregators for this purpose.

What does look more interesting is whether this forms a partnership, direct or aggregator play and Markerstudy's reliance on a third party organisation, which will utilise its real-time pricing capability and aggregator relationships, whilst sitting outside of the insurer. 

Barclays selects Aviva and L&G

Barclays has announced significant life and general insurance partnerships for its UK retail customers.

 

Aviva already has a general insurance partnership with the bank and this has been extended to include a range of non-advised covers (life assurance, over 50s life cover and personal accident), available through branches, online and via the telephone. 

 

Legal & General will provide family and mortgage life assurance and critical illness protection covers on an advised basis, supplementing the mortgage protection distribution arrangement it has held since 2001. 

 

The significance of these partnerships is considerable and looks as if Barclays is cementing its position with 2 of the UK's largest bancassurers in preparation for the impact of RDR.

Ageas partners with Vauxhall & Chevrolet

Ageas has recently commenced a 5-year partnership with General Motors to offer car insurance for Vauxhall and Chevrolet customers in the UK.

The deal follows a detailed tender exercise and sees Ageas replacing Provident Insurance (until recently owned by GMAC) which had held the account since January 2009. This deal had originally been scheduled to run for 3 years.

The partnership is being managed by Ageas Insurance Solutions in Stoke-on-Trent and represents the organisation's second major motor manufacturer success, following Toyota in 2010.

TUI travel contract returns to AXA

After a gap of 3 years, Axa has regained the travel insurance account for TUI in the UK and Ireland.

The change from Mondial Assistance to Axa has come after a market tender, and covers a number of major TUI brands including Thomson and First Choice.

The account is estimated to be worth between £10m and £15m to Axa.

Sainsbury’s launches car insurance partnership with RBSI

RBS Insurance (RBSI) has kicked off its motor insurance partnership with Sainsbury’s and has ambitions to achieve 500,000 customers by the end of the 5 year deal.

RBSI will provide the underwriting, sales, service and claims management to Sainsbury’s Finance customers and has taken over from esure; which had worked with the supermarket for the previous 10 years.

RBSI previously partnered with Tesco, which moved its personal lines business to Ageas in October 2010. Sainsbury’s continues to partner with St Andrews and First Assist for its household and travel insurance respectively. 

HSBC re-signs Aviva partnership for 5 more years

HSBC and Aviva have renewed their general insurance partnership for a further 5 years; making this one of the UK’s largest and most important affinity deals.

The deal was originally signed in 2007 and has recently been extended to 2016.  Aviva becomes the bank’s strategic partner in Europe and the UK and it covers the sale of home, travel and creditor business through a wide range of channels.


HSBC currently partners with Junction for motor insurance; following a 5 year deal signed in September 2008. 

Age UK seeks IFA partner

Age UK Enterprises, the commercial arm of the charity Age UK, has announced that it is seeking a partnership with a national IFA, to supplement 2 other recent partnerships and to provide its customers with access to independent financial advice.

In November 2010 it teamed up with Premier Retirement Services, part of JLT Benefit Solutions, to launch an annuity service.

In March 2011, the charity launched its equity release advice service with Just Retirement Solutions. Details of the IFA service will be announced shortly.