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Tesco Pet Insurance Partner RSA

tesco pet insuranceTwo of the finance world’s largest tectonic plates have shifted, and sent ripples through the pet insurance market. Tesco Bank have partnered with RSA (Royal Sun Alliance) to underwrite Tesco Pet Insurance. Experts are predicting that consumers looking to compare pet insurance will be given added benefits, by British-owned businesses.

The upshot of the move will create 230 new jobs within RSA, backed up by an expected £100 million in premium income (income from consumers buying pet insurance policies) in the first year.

Adrian Brown, Chief Executive of RSA, said: “We are delighted to be working with Tesco to provide pet insurance to all of their pet owners. By combining our expertise in underwriting, pricing and strong service delivery with Tesco’s brand and marketing ability, I am confident that this partnership will go from strength to strength.”

Tesco Bank is already the UK’s largest online pet insurer, with over 700,000 pets insured and this latest move can only mean good news for British pet owners; both RSA and Tesco have proven track records in offering consumers competitive packages, and some of the best pet insurance policies in the market. Tesco Pet Insurance customers will migrate to RSA over a 12-month period.

Benny Higgins, Chief Executive of Tesco Bank said: “We are currently the UK’s largest online pet insurer and have ambitious plans to further grow our pet insurance business to develop new products and services that meet our customers needs. RSA understands our customer-focused approach and has demonstrated that it has the capabilities to support and develop our pet proposition.”

This isn’t RSA’s only foray into the pet insurance market, they’re already the fourth largest providers of pet insurance, through their MORETH>N brand, which offers British pet owners, pet cat insurance, pet dog insurance or combined cat and dog pet insurance at competitive rates.

Are RSA spreading themselves too thin? Are Tesco flexing their might too much? We don’t think so. We see this as a positive move for pet owners, and the British economy as a whole.

Creating 230 jobs, and creating added competition in a relatively new marketplace is a good thing. We’ll be keeping you updated on the alliance over the course of the year, but what do you, the consumers think?

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Category: Cat Insurance, Dog Insurance

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