Prestige Underwriting announces home insurance partnership with Tesco Bank

Offering aimed at customers with "unique circumstances"

Prestige Underwriting announces home insurance partnership with Tesco Bank


By Terry Gangcuangco

Prestige Underwriting and Tesco Bank have partnered to offer Coverall, a non-standard home insurance policy designed for customers of the bank who have unique circumstances and requirements.

In an emailed release, the managing general agent said Tesco Bank customers who are unable to get home insurance from the lender will be directed to Prestige brand Open & Direct and receive an exclusive referral discount on their premium if they go on to take out cover.

Underwritten by Prestige Underwriting, Coverall is aimed at those who require non-standard insurance due to their homes’ risk profile or the use of non-typical construction materials in their properties.

“I am extremely pleased to announce the partnership with Tesco Bank, and the delivery of a tailored solution for Tesco customers with unique circumstances and in need of specialist cover,” commented Tim Baxter (pictured), head of broker development & partnerships at the MGA.

“We will offer customers, through our Open & Direct brand, access to a suite of established insurance solutions developed by Prestige Underwriting, providing flexibility and choice for those individuals with extraordinary requirements.

“Partnerships, agility, and the ability to create bespoke insurance solutions is at the core of what we do, and credit must go to the implementation teams within Tesco Bank and PIHL (Prestige Insurance Holdings Limited) for the successful delivery of this new initiative. I look forward to developing this new partnership with Tesco Bank.”

Tesco Bank insurance director Alex Cross, meanwhile, noted that they want to help customers find the coverage they need.

“In instances where Tesco Bank home insurance doesn’t offer appropriate non-standard cover, we’re pleased to be teaming up with Prestige to deliver this,” he said.

“At Tesco Bank we’re committed to offering products and services which align with the needs of Tesco shoppers, and this proposition means customers can secure cover that works for them and their home, while still getting the same Tesco value that they expect from us.”

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