Vitality to enter car insurance market

From spring 2021

Adam Saville
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Vitality to enter car insurance market

VitalityCar will incentivise and reward members for positive behaviour change

Vitality has announced its plans to enter the car insurance market from spring 2021.

The health and life insurance provider has partnered with Covéa Insurance to offer the cover directly to consumers, with existing members able to access to number of benefits and rewards at launch.

Drawing upon its shared-value approach to insurance, the VitalityCar proposition will use incentives to reward members and promote positive behaviour change. In addition to offering comprehensive car insurance, the offering will focus on supporting members to drive safely and encourage them to consider the environmental impact of their driving.

Neville Koopowitz, CEO of Vitality said: "Expanding our business to offer car insurance is a natural next step for Vitality, and we are delighted to be working with Covéa Insurance to launch in the spring.

"Our move into the car insurance market is firmly embedded in our commitment to enter markets where we are confident that we can make a positive difference to our members' lives and wider society. Our shared value approach to insurance means we are well placed to provide comprehensive car insurance, whilst at the same time encouraging people to consider how they drive and the impact this has on the environment."

James Reader, CEO of Covéa Insurance said: "This is an exciting partnership for Covéa with one of the most trusted brands in the UK. The Vitality proposition delivers genuine innovation in the private car insurance market through their shared value and rewards based approach, based on a deep understanding of their members' needs. At a time when the FCA's pricing reforms promise to drive fundamental change in the market, we are delighted to be partnering with Vitality to offer a compelling new proposition for the UK's drivers."   

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