CIS selects Junction to develop 'ecoinsurance' aggregator product

Junction, the UK’s leading affinity insurance provider and part of the BGL Group, has been selected by Co-operative Insurance as its long term partner to develop a motor web product that will be used on aggregators.

Junction will develop a bespoke product for Co-operative Insurance that will allow the company to offer its insurance products on price comparison websites including Tesco Compare, Confused.com and comparethemarket.com.

Co-operative Insurance alongside the Co-operative Bank forms the financial services arm of the Co-operative Group – which has over 4.7 million customers and administers more than £20 billion. It is also a direct insurer and underwrites its own business.

David Neave, General Insurance Director, Co-operative Insurance said: “Junction demonstrated a clear understanding of what we required in terms of both infrastructure and support. The development of an aggregator-friendly product is a necessity in today’s competitive personal lines market.

“We are confident that Junction’s experience and expertise will enable us to break into this market where our products will be able to speak for themselves.”

Matthew Donaldson, Group Director, Junction, said: “Co-operative Insurance is a massive brand and its decision to appoint Junction is testament to our proven ability in providing other major companies, both retail and insurance, with web-based personal lines products.

“We will work closely with Co-operative Insurance to help them achieve their growth targets using our own sophisticated insurance system. This system will help change prices regularly and quickly in order to respond to the changing market.

“The Junction pipeline is stronger than ever and I anticipate communicating further deal signings in the near future.”