Vitality announces launch of car insurance together with Covéa InsuranceVitality have today announced they will enter into the car insurance market from the spring of 2021. Offered in addition to their health insurance, life insurance and investment products, this will be the latest business expansion from the insurer and be provided in partnership with Covéa Insurance.
In common with Vitality’s other products, the new car insurance proposition is built on their unique Shared-Value Insurance Model, which uses incentives that rewards members and promotes positive behaviour change. In addition to offering comprehensive car insurance, VitalityCar will focus on supporting members to drive safer and encourage them to consider the environmental impact of their driving.
VitalityCar will be available to consumers to purchase directly, with existing members able to access a number of benefits and rewards at launch.
Neville Koopowitz, CEO of Vitality said: “Expanding our business to offer car insurance is a natural next step for Vitality, and we are delighted to be working with Covéa Insurance to launch in the spring.
“Our move into the car insurance market is firmly embedded in our commitment to enter markets where we are confident that we can make a positive difference to our members’ lives and wider society. Our Shared Value approach to insurance means we are well placed to provide comprehensive car insurance, whilst at the same time encouraging people to consider how they drive and the impact this has on the environment.”
James Reader, CEO of Covéa Insurance said: “This is an exciting partnership for Covéa with one of the most trusted brands in the UK. The Vitality proposition delivers genuine innovation in the private car insurance market through their shared value and rewards based approach, based on a deep understanding of their members’ needs. At a time when the FCA’s pricing reforms promise to drive fundamental change in the market, we are delighted to be partnering with Vitality to offer a compelling new proposition for the UK’s drivers.”
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