Morrisons has rolled out new pet and travel insurance products, becoming the latest major UK supermarket to expand into financial services. The move follows similar initiatives by Tesco, Asda, and Sainsbury's, as grocers seek to leverage their customer bases and loyalty schemes for additional revenue.
Partnership with Hood Group
Morrisons has partnered with insurance specialist Hood Group to offer the coverage. The products are integrated with Morrisons' More Card loyalty scheme, offering 20,000 More Points for pet insurance purchasers and a 10% discount on travel insurance. Every 5,000 More Points can be exchanged for a £5 Morrisons voucher.
Product Details
Morrisons Pet Insurance provides three levels of lifetime cover with annual veterinary fee limits of £2,500, £5,000, and £10,000. Policyholders also get access to a 24-hour Pet Health Assist Line staffed by UK-based vets and nurses. Morrisons Travel Insurance offers three levels of protection and includes gadget cover as standard for direct purchases.
Pet insurance is underwritten by Burns & Wilcox Global Solutions Limited on behalf of Accredited Insurance (UK) Limited, while 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, commented: "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." Reid described the launch as "a brilliant collective effort" involving teams from Morrisons, Hood Group, and insurance partners.
Industry Context
The expansion reflects a growing trend among UK supermarkets to diversify beyond grocery sales. Tesco already offers a wide range of insurance products, while Asda has moved into motor, home, gadget, and business insurance through partnerships. Sainsbury's continues to operate in the sector after Allianz acquired its home and motor insurance policies from Sainsbury's Bank.
