A major new partnership between Direct Line Insurance Group Plc (DLG) and American International Group (AIG) has been unveiled.
Specifically, the five-year partnership is a tie-up between AIG Life Limited and DLG’s sub-brands Direct Line and Churchill. It focuses on a new life insurance offering that will be available to customers via their smartphones or online channels. Among the features on offer are optional coverage for critical illness, and an application process promisingly described as ‘jargon free’.
Indeed, it is claimed that filling out the application for the proposition takes less than seven minutes; should customers be satisfied with the quote given, the whole thing can be over in less than 10.
“For us, it’s incredibly important to be able to offer insurance that is not only easy to buy, but that is affordable and provides the reassurance and support when they really need it,” commented Kate Syred, Managing Director of Household and Partnerships at DLG. The impetus behind the partnership and the new life insurance proposition, she explained, relates to a perceived desire on the part of customers for fast-paced services and adaptable and comprehensive products; it was felt that AIG offered the capability to best put DLG’s ambitions into practise.
There is precedent for this heavyweight tie-up; last year DLG appointed AIG Life as the insurer of choice for its protection products. This was the first direct-to-consumer life insurance partnership of its kind to be agreed in the UK.