Legal & General announces tie-up with Asda
Legal & General has a new partner in the form of Asda Money.
Unleashing its first ever pet insurance affinity, Legal & General said it has entered into a three-year commercial agreement that will see the financial services firm offer its pet insurance product range for dogs and cats to Asda Money’s clientele. Distribution channels include phone, the Asda Money website, and price comparison portals.
“We are delighted that Asda has chosen Legal & General to partner with them on pet insurance,” commented Cheryl Agius, chief executive of Legal & General’s insurance division. “The strength of Asda’s customer base coupled with the broad range of products and digital capabilities from Legal & General provides a solid foundation to continue to grow Asda’s pet insurance customer base.”
The deal, which comes amid Legal & General’s 60% year-on-year growth in its pet insurance business, is also part of the company’s wider strategy to offer coverage via distribution channels and partnerships.
“Legal & General’s Petonomics report, which looks at how the pet market contributes to the wider UK economy, has found that the typical dog owner spends £198 every year on their pet’s medical expenses, with cat owners paying on average £97 a year,” explained the insurer.
“There is therefore a significant opportunity for further growth to be achieved by combining Asda’s distribution expertise with Legal & General’s digital and insurance expertise to offer a wide range of products to customers.”
Asda, which has been offering pet insurance for more than a decade, believes its new ally is a like-minded organisation whose decision-making puts the customer at the forefront.
“Legal & General has the necessary expertise to support our customers in their time of need,” noted Alistair Ball, head of insurance at Asda Money. “Our pets are part of the family, so it is vital insurance for them is backed by a name you can trust.”