Legal & General is tying up with The Co-operative Bank for a new home insurance offering, it has been revealed today.
The new partnership will see the insurer offer its household products to The Co-operative Bank’s customers through the bank’s website and a dedicated telephone service.
Legal & General’s SmartQuote facility will also be offered as part of the move – the first time it has been available outside of the insurer’s direct business. SmartQuote uses data and technology to provide customers with a quote in 90 seconds for buildings and contents cover with “no form-filling,” which its CEO says allows for a quicker and easier customer experience.
“Consumers are increasingly purchasing services on their phone and the retail sector is well advanced in the mobile market,” Cheryl Agius, CEO of general insurance for Legal & General, said in a statement.
“Consumers want to buy insurance quickly and easily and our new SmartQuote technology allows customers to obtain a quote for the cover on their phone or direct in seconds.”
Adding that the insurer is “delighted” with the new partnership, Agius said that the two firms would be working together “to continue to evolve this customer-centric proposition now and for the future.”
Paul Norcott, head of mortgages and insurance at The Co-operative Bank, added: “We are pleased to be offering Legal & General’s SmartQuote general insurance products to our customers.
“This leading technology from an award-winning insurer is a great opportunity for our customers to get their home insurance policy quickly and easily. The Co-op Bank already works with Legal & General to introduce protection insurance policies to our customers via our website and also has a solution for lifetime mortgages in place, and we believe this latest venture will be as well received by our customers.”
Legal & General products available through the partnership are Everyday Home Cover (silver) & Home Cover Extra (gold).