SuperValu has announced the establishment of its financial services division, allowing the supermarket to offer its customers home and car insurance products, while creating 20 new jobs.
The retailer has teamed up with AIG insurance to offer loyal customers discounted rates for home or car insurance; a move it made following feedback from customers that it was the a service that they would like to see offered.
Research conducted by Red C for SuperValu revealed that 58% of car insurance and 38% of home insurance policy holders said that they were likely to switch from their current provider, underlining the opportunity for grocery retailers.
SuperValu plans to focus on their customer base by rewarding shoppers who sign-up for home or car insurance with money off vouchers to spend in-store, as well as giving them the chance to avail of a 30% multi policy discount (meaning a 10% discount where the customer provides a Real Rewards number and an extra 20% multi-policy discount on home if they hold a SuperValu car policy).
SuperValu chose to partner with AIG on the new insurance products after looking for a partner with high levels of trust and financial strength. SuperValu says that the insurance company’s A+ rating will ensure its customers have peace of mind in two brands they can trust.
The benefits of SuperValu’s Home Insurance include a 20% discount if the policy holder has a monitored burglar alarm, a 24 hour Home Emergency Assist Helpline and up to €1000 in SuperValu Vouchers to replace lost freezer contents. Meanwhile, its Car Insurance offers breakdown assist and home start as standard, as well as protection for possessions in a customer’s car for up to €300.
Martin Kelleher, Managing Director of SuperValu, explained, "With trust in financial institutions at record lows, we had a lot of interest from customers who were looking to avail of a range of services from SuperValu beyond our traditional food offer.”
He added, “As one of Ireland’s most trusted brands, we believe that we can combine great discounts for our customers with the quality and service you would expect from SuperValu. By partnering with AIG we have been able to fulfil this vision and roll out an car and home insurance that rewards the customer.”
© 2015 - Checkout Magazine by Jenny Whelan
