News analysis: Why are more brokers competing for brand and affinity partnerships?
A number of brokers have recently announced tie-ups with household brands to distribute insurance. Ida Axling explores the benefits these affinity deals bring for intermediaries and their partners, and the prospects for future growth in the brand-insurance space.
Brands are increasingly turning to insurance to diversify their revenue streams, and brokers are vying for the business.
To highlight three examples: Everywhen has partnered with Asda Money to launch the supermarket’s first business insurance service; Superscript has teamed up with tools, accessories and building supplies provider Toolstation; and Uinsure recruited 60 new team members after securing several major partnership deals including bank, building society and other affinity partnerships.
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