Prestige partners with Tesco Bank

Prestige Underwriting is partnering with Tesco Bank to offer non-standard home insurance to Tesco customers.

Prestige and Tesco Bank have come together to offer insurance to customers who find it difficult to obtain standard cover. Some customers need non-standard cover due to the risk profile of their home or the use of non-typical construction materials in their property.

The insurance, named Coverall, is underwritten by Prestige Underwriting, who are long established specialists in the UK non-standard market, and offered under the Prestige Group’s Open and Direct brand following its relaunch into the general insurance market.

Customers unable to get home insurance from Tesco Bank will be directed to Open and Direct to obtain a quote either by phone or online. Those customers who then go on to purchase a policy with Open and Direct will receive an exclusive Tesco referral discount on their premium.

Tim Baxter, Head of Broker Development & Partnerships at Prestige commented:

“I am extremely pleased to announce the partnership with Tesco Bank, and the delivery of a tailored solution for Tesco customers with unique circumstances and in need of specialist cover.  We will offer customers, through our Open & Direct brand, access to a suite of established insurance solutions developed by Prestige Underwriting, providing flexibility and choice for those individuals with extraordinary requirements.  Partnerships, agility and the ability to create bespoke insurance solutions is at the core of what we do and credit must go to the implementation teams within Tesco Bank and PIHL for the successful delivery of this new initiative.  I look to forward developing this new partnership with Tesco Bank.”

Alex Cross, Insurance Director at Tesco Bank said:

“We want to help customers find the cover they need.  In instances where Tesco Bank home insurance doesn’t offer appropriate non-standard cover, we’re pleased to be teaming up with Prestige to deliver this.

“At Tesco Bank we’re committed to offering products and services which align with the needs of Tesco shoppers, and this proposition means customers can secure cover that works for them and their home, whilst still getting the same Tesco value that they expect from us.”