Budweiser Canada is serving up a new product – but instead of beer, the company is launching a new business that offers “lifestyle-based” insurance plans.
The brewing company noted in a release that the insurance market has become a lot more relevant for people – millennials in particular – following the impact of the COVID-19 pandemic. Citing recent data from TD Canada, Budweiser said that there was a 30% increase in online life insurance searches in 2020 compared to the previous year.
“Unconventional as insurance may seem, Budweiser is known for putting our customers first. The pandemic opened our eyes to this untapped opportunity, which is aimed at providing better security for Canadians and enabling them to live the life they want,” said Mike D’Agostini , Budweiser senior marketing director, Labatt Breweries of Canada.
With so many insurance options available on the market, Budweiser Insurance is looking to be the go-to choice for Canadians who are looking to add on to any existing coverage plan that they may have. The insurer especially wants to ensure that Canadians are living summer 2021 “to its fullest.”
“Jumping into the insurance space allows us to not only create an innovative part of our business, but also shape a customer-centric approach to insurance that is totally ownable for the Budweiser brand,” added D’Agostini. “Budweiser Insurance will tap into a specific-type of coverage not currently available to Canadians and will help them enjoy a worry-free summer, because Bud’s got your back.”
A company release said that Canadians of legal drinking age will be eligible to apply for “a chance at coverage” with Budweiser Insurance in the coming weeks, with more details about the coverage to come.