Asda Money has announced the end of its motor insurance partnership with Brightside; at least for new business. The two organisations have worked together since 2012, when a home and motor insurance partnership was signed, with hopes of generating £70 million GWP "within 18 months".
The motor partnership was renewed in March 2014; supposedly for a period of 3 years and in March 2015, Brightside signed a deal to provide a motor aggregator to Asda Money customers. It is understood that following this decision, Brightside will remain the provider for Asda Money's car and van renewal book. The Hood Group replaced Brightside as home insurance partner in July 2014, with policies underwritten by RSA.
The suggestion has been made that this is a strategic decision by Asda to wind down new business sales of its financial services products, but at this stage, it is not known how and whether this will impact on the retailer's other insurance partnerships.
Asda has a reputation for its frequent changes of insurance partners and relatively short-term deals. At the time of writing, it also works with BDML Connect for pet insurance and, since October 2015, with Insure & Go for travel insurance.
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