Junction, BGL Group’s partnerships business, has signed a five-year contract to provide home and motor insurance products for SunLife.
The deal marks the next stage of SunLife’s expansion into the general insurance market and will see the brand offering motor insurance for the first time, along with a revamped and improved home insurance product. All policies will be 5* Defaqto rated.
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SunLife said Junction’s data expertise will combine with its rich customer data to deliver a competitive proposition for existing SunLife customers, while Junction’s insurer panel will ensure that customers who come to the site independently or via price comparison sites can also access highly competitive pricing.
The partners will share knowledge to unlock potential benefits not only across risk and underwriting, but also in marketing and demographics.
Customer service delivered by highly trained representatives at BGL Group’s own contact centre in Sunderland.
SunLife CEO Dean Lamble said: “We’re delighted to appoint Junction to run our motor and home insurance books. The combination of their tailored affinity service and long experience of building successful partnerships made them the obvious choice as we look to broaden our insurance proposition.”
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By GlobalDataGary Duggan, managing director at Junction, said: “Our expertise in data, our panel and our scale make us the insurance partner of choice for some of the UK’s biggest brands, and we’re excited by this fresh challenge.
“This multi-product offering will support our strategic intent to broaden and deepen our relationships with our affinity partners.”
Junction was formed in 2002 and has grown rapidly to its current position, providing insurance for over 2.4m customers through some of the UK’s best-known brands including O2, M&S Bank, Co-op Insurance, RAC Insurance, Post Office, Lloyds Bank, Halifax and Santander.
BGL Group owns and operates the UK price comparison website comparethemarket.com, as well as the online life insurance provider, BeagleStreet.com.
For all the latest insight, news and data on the global life and health insurance and reinsurance markets, visit www.lifeinsuranceinternational.com
