Morrisons has introduced new pet and travel insurance products, marking its expansion into financial services and mirroring strategies already adopted by rivals Tesco, Asda and Sainsbury's. The supermarket has partnered with insurance specialist Hood Group to deliver the cover, leveraging its brand and More Card loyalty programme.
New Insurance Products Linked to More Points
Customers taking out pet insurance will receive 20,000 More Points, while those opting for travel insurance can claim a 10% discount. Every 5,000 More Points can be exchanged for a Morrisons Fiver to use in-store or online. The move underscores a growing trend among major supermarkets to exploit their large customer bases and loyalty schemes to sell additional services, from banking and insurance to mobile contracts and broadband.
Pet Insurance Details
Morrisons Pet Insurance offers three levels of lifetime cover with annual veterinary fee limits of £2,500, £5,000 and £10,000. Customers also benefit from a UK-based Pet Health Assist Line staffed by vets and nurses round the clock. Policies are underwritten by Burns and Wilcox Global Solutions Limited on behalf of Accredited Insurance (UK) Limited.
Travel Insurance Details
Morrisons Travel Insurance is available in three tiers of protection and includes gadget cover as standard for those purchasing directly. Travel insurance is underwritten by AXA.
Company Statements
A Morrisons spokesperson said: "These new services are designed to make life a little easier by offering simple, good-value options in areas that really matter to our customers." Bruce Reid, Commercial Director at Hood Group, said: "Absolutely delighted to see this latest affinity partnership come to life with Morrisons. It's been a genuine pleasure collaborating on the launch of Pet and Travel Insurance for their customers - an initiative that truly reflects their ambition and forward thinking." He added: "Morrisons have embraced the opportunity they can unlock within their estate, recognising the meaningful value they can bring to their shoppers by offering high-quality Pet and Travel insurance products."
Competitive Context
The launch arrives amid intensifying competition between supermarkets, with chains progressively pursuing extra income sources beyond grocery retail. Tesco already offers an extensive range of insurance products. Asda has recently expanded into motor, home, gadget and business insurance through collaborative arrangements. Sainsbury's remains active in the sector after Allianz took over home and motor insurance policies previously offered through Sainsbury's Bank.
