Article date: 26 June 2012
- Five-year life insurance distribution agreement for Aviva’s protection products.
- Products are available online via Tesco Bank or over the telephone.
- Consolidates Aviva’s position as one of the leading life protection providers in the UK.
- Further evidence of Aviva’s expertise in successful relationships built on its strong life and general insurance capabilities across all distribution channels.
Aviva has announced today an exclusive five-year deal with Tesco Bank to provide life protection products for its UK retail customers.
The agreement, which will begin later this year, will cover the sale of Aviva’s core protection products, including life insurance and critical illness cover. These products will be available online via Tesco Bank or over the telephone. Customers will also be able to obtain information through some of Tesco’s 2,900 stores.
Tesco customers will be able to choose simplified life insurance, over 50s life insurance and life insurance with critical illness cover. This expands Tesco’s existing relationship with Aviva which already provides a private medical insurance scheme for Tesco’s employees.
Julie Hopes, Managing Director, Insurance at Tesco Bank, said: “We’re delighted to be extending our relationship with Aviva. Partnering with one of the UK's leading life protection providers will bring benefits to our customers offering them a range of straightforward and good value products that we believe will give customers the reassurance they look for in life products.”
David Barral, CEO, Aviva, UK and Ireland Life said: "This is a fantastic opportunity for two household names to deliver a real benefit for millions of people across the UK who have no family protection in place. Together we can provide Tesco's customers with peace of mind, offering a quick and easy way to purchase a range of protection products to suit their individual needs.
"We are delighted with this new distribution agreement which strengthens further our position as one of the leading life protection providers in the UK. We know too well the challenges families face when they lose a loved one or experience a critical illness, but having financial protection in place can provide some comfort and stability at a difficult time. This relationship, combined with our outstanding record of paying claims, means we will be able to help even more families when it matters most."
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Notes to editors:
Aviva provides insurance, savings and investment products to 43 million customers worldwide.
We are the UK’s largest insurer with over 14 million customers and one of Europe’s leading providers of life and general insurance. We combine strong life insurance, general insurance and asset management businesses under one powerful brand. We are committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
We are ranked as one of the UK’s top ten most valuable brands and Aviva Plc are in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2011 we invested £5.3 million into our UK communities. One in three of our employees were involved in community investment activities which included giving nearly 33,000 hours.
Aviva is working in partnership with Railway Children through the Aviva Street to School programme to get children living or working on UK streets back into everyday life. Find out more at www.aviva.co.uk/street-to-school.
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Tesco Bank is the UK’s largest supermarket bank. Since our launch in 1997, we have grown to 6.5 million customer accounts across a range of financial products and services.
Our principal activities are credit cards, savings, personal loans and general insurance including car, home, pet and travel. We also operate a network of cash machines (ATMs).
Customers can buy our products in-store, by telephone and online. Headquartered in Edinburgh, all our call centres and sales staff are based in the UK.
Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. 173199. Registered Address: Interpoint Building, 22 Haymarket Yards, Edinburgh, EH12 5BH.