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Seven-year exclusive distribution agreement to underwrite general insurance products under the TSB brand through 600 branches and digital platforms
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4.7 million TSB customers to benefit from modular home insurance that allows them to design their own insurance package
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Consolidates Aviva’s position as a market leader in home insurance. Aviva insures one in ten UK households
TSB’s 4.7m customers will have access to a new modular home insurance product, which differs to the one-size-fits-all approach normally seen in the market. It enables customers to use a menu-based approach to select cover based on their needs and lifestyle.
Aviva will manage claims and customer service for TSB from its operations in Perth.
Maurice Tulloch, Chief Executive Officer – Aviva UK general insurance, said:
“I’m delighted to announce the start of this long term, strategic partnership with TSB. Winning this competitive tender process underlines Aviva’s position as the leading general insurer in the UK. In choosing Aviva, TSB recognised the breadth and quality of our product portfolio, the dedication of our award winning customer service teams and our industry leading digital capability
“The opportunity to work with TSB excites me enormously. Aviva and TSB have similar values and a similar approach to doing business, focused on doing the right things for our customers."
Paul Pester, Chief Executive Officer, TSB, said:
“I’m delighted to be working with Aviva. This partnership will enable TSB to launch a new range of insurance products for TSB customers including some innovative offerings such as our new ‘design your own’ home insurance. We look forward to working with Aviva and continuing to bring more competition to UK banking.”
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