John Lewis has partnered with four insurance experts including Digital Partners, Sedgwick, Hood Group, and ICE InsureTech for the new insurance product
John Lewis will offer new home insurance product. (Credit: John Lewis Partnership Plc.)
UK-based John Lewis & Partners has collaborated with four insurance industry experts to deliver a new home insurance product for its customers.
Under the new collaboration, Digital Partners, a subsidiary of Munich Re will offer insurance expertise, a team from Sedgwick will manage claims handling, the Hood Group will manage customer service in the UK, and ICE InsureTech will deliver the policy administration solution.
John Lewis has been operating a home insurance business, and the company intends to deliver new products designed to serve a broad range of targeted audience, from early 2021.
Munich Re Board member Thomas Blunck said: “We are delighted to be partnering with such a prestigious UK retailer. This partnership highlights Munich Re’s continued commitment to building new insurance solutions, meeting customers’ growing demand for flexible products, immediate fulfilment and coverage.”
Sedgwick International UK chief operating officer Neil Gibson said: “This new partnership is an exciting venture for us. By using our centralised dedicated customer claims platform, combined with automated policy validation and settlement, we will be able to provide John Lewis customers with a reimagined digital solution that makes claims easy for everyone.”
John Lewis Partnership owns and operates two retail brands in UK
The John Lewis Partnership owns and operates two of the UK’s top retail brands John Lewis and Waitrose, with more than 80,000 employees who are all partners in the business.
Its brand Waitrose operates 335 stores in England, Scotland, Wales and the Channel Islands, including 61 convenience branches, and an additional 27 stores at Welcome Break locations.
The company’s omnichannel business includes the online grocery service, along with specialist online shops including waitrosecellar.com for wine and waitroseflorist.com for plants and flowers.
John Lewis executive director Pippa Wicks said: “As part of our new Partnership Plan, we have a big ambition to grow our financial services offering to customers over the next five years. To support this, we’re delighted to have created a partnership with these innovative experts from within the insurance industry.
“While we have offered home insurance for fourteen years, together with our new partners we will re-imagine our home insurance offer to provide our customers with reassuring and fairer cover that is more relevant to them than ever before.”