Those taking out a pet insurance policy will get 20,000 More Points (Image: Getty)
Morrisons is offering shoppers a major loyalty points boost as part of a new push into financial services, launching pet and travel insurance products that come with exclusive customer rewards. The supermarket has partnered with insurance specialist Hood Group to roll out the products, joining rivals including Tesco, Asda and Sainsbury’s in using their brands and loyalty schemes to expand beyond traditional grocery retail.
Shoppers signing up for the new insurance products can earn rewards through Morrisons‘ popular More Card loyalty programme. Customers taking out a pet insurance policy will receive 20,000 More Points, while those purchasing travel insurance can benefit from a 10% discount on their cover.
Every 5,000 More Points can be exchanged for a Morrisons Fiver (Image: Getty)
Every 5,000 More Points can be exchanged for a Morrisons Fiver to spend online or in stores. Morrisons said in January that More Card active users were up 11% to a record 8 million.
Morrisons Pet Insurance is underwritten by Burns & Wilcox Global Solutions Limited on behalf of Accredited Insurance (UK) Limited. It offers three levels of lifetime cover with annual veterinary fee limits of £2,500, £5,000 and £10,000.
Customers will also have access to a UK-based 24/7 Pet Health Assist Line staffed by vets and nurses.
Meanwhile, Morrisons Travel Insurance, underwritten by Axa, is available in three levels of cover and includes gadget protection as standard for customers who buy directly.
The policies are available online through Morrisons, with the digital platform operated by insurance specialist Hood Group.
Jamie Winter, Morrisons’ director of procurement, said: “With the launch of Morrisons Insurance, we’re giving customers access to trusted pet and travel cover while rewarding them through our popular More Card with points and exclusive discounts.
“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.”
Reid said the launch is “a brilliant collective effort” between the teams at Morrisons, Hood Group and insurance partners.
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The expansion comes as supermarkets continue searching for new revenue streams amid fierce competition in the grocery sector.
Retail giants like Tesco, Asda and Sainsbury’s already offer a variety of insurance products.
By teaming up with major insurance firms, supermarkets are able to sell insurance products to their customers while boosting loyalty scheme engagement through rewards, including extra points and money-saving perks.
For example, with Tesco Pet Insurance, you can choose from three levels of cover: Lifetime, Maximum Benefit or Time Limited and you get a discount with your Clubcard.
Asda has also recently launched business, gadget, home and motor cover through a series of partnerships. expanded its insurance offering in recent years, introducing products including home, motor, gadget and business cover through partnerships with specialist providers.
Sainsbury’s also remains active in the market, with Allianz managing home and motor policies previously provided via Sainsbury’s Bank.
