Press releases

Legal & General announce new home insurance partnership with The Co-operative Bank

Legal & General’s award winning General Insurance business is announcing a new partnership with The Co-operative Bank to offer a range of competitive home insurance products.

9 May 2018


Press release

The new partnership means Legal & General is offering its household products; Everyday Home Cover (silver) & Home Cover Extra (gold), utilising the new SmartQuote quote facility; to Co-operative Bank customers through the bank’s website and also a dedicated telephone service.

Legal & General’s SmartQuote gives customers a quote in 90 seconds for buildings and/or contents cover, with no form-filling, using data and technology to underwrite the risk and enhance the customer experience. This is the first time the SmartQuote technology has been available through a partnership and until now was only available to direct customers of Legal & General.

Consumers want to buy insurance quickly and easily and our new SmartQuote technology allows customers to obtain a quote for the cover on their phone or direct in seconds. We look forward to working together with The Co-operative Bank to continue to evolve this customer centric proposition now and for the future”.

Paul Norcott, Head of Mortgages and Insurance at the Co-operative Bank, said; “We are pleased to be offering Legal & General’s SmartQuote general insurance products to our customers. This leading technology from an award winning insurer is a great opportunity for our customers to get their home insurance policy quickly and easily.

The Co-op Bank already works with Legal & General to introduce protection insurance policies to our customers via our website and also has a solution for lifetime mortgages in place, and we believe this latest venture will be as well received by our customers”.

The new partnership means Legal & General is offering its household products; Everyday Home Cover (silver) & Home Cover Extra (gold), utilising the new SmartQuote quote facility; to Co-operative Bank customers through the bank’s website and also a dedicated telephone service.

Legal & General’s SmartQuote gives customers a quote in 90 seconds for buildings and/or contents cover, with no form-filling, using data and technology to underwrite the risk and enhance the customer experience. This is the first time the SmartQuote technology has been available through a partnership and until now was only available to direct customers of Legal & General.

Consumers want to buy insurance quickly and easily and our new SmartQuote technology allows customers to obtain a quote for the cover on their phone or direct in seconds. We look forward to working together with The Co-operative Bank to continue to evolve this customer centric proposition now and for the future”.

Paul Norcott, Head of Mortgages and Insurance at the Co-operative Bank, said; “We are pleased to be offering Legal & General’s SmartQuote general insurance products to our customers. This leading technology from an award winning insurer is a great opportunity for our customers to get their home insurance policy quickly and easily.

The Co-op Bank already works with Legal & General to introduce protection insurance policies to our customers via our website and also has a solution for lifetime mortgages in place, and we believe this latest venture will be as well received by our customers”.

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.

Full consumer product information can be found at www.legalandgeneral.com/home-insurance or by calling 08000 279 833. Calls may be record and monitored. Lines are open 8am to 8pm Monday to Friday and 9am to 5pm Saturday and Sunday. Alternatively, consumers should speak to their insurance adviser to check they do have adequate cover in place.

SmartQuote

The Legal & General new product has two options – Gold and Silver. Gold is the most comprehensive cover, including things like Extended Accidental Damage, Home Emergency and Trace & Access cover as part of the policy. Legal & General customers will be presented the Silver and Gold options when they apply, and can also configure bespoke “add-ons” to make their cover more personal to their needs.

ABOUT THE CO-OPERATIVE BANK

The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Cheryl Agius, CEO General Insurance for Legal & General: We are delighted that we have secured this new partnership with The Co-operative Bank. Consumers are increasingly purchasing services on their phone and the retail sector is well advanced in the mobile market

Notes to editors

Established in 1836, Legal & General is one of the UK’s leading financial services groups and a major global investor, with international businesses in the US, Europe, Middle East and Asia. With almost £1.3 trillion in total assets under management*, we are the UK’s largest investment manager for corporate pension schemes and a UK market leader in pension risk transfer, alternative asset origination, life insurance, workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.

* at 30 June 2021