UK-based insurance firm Aviva has entered into an exclusive seven-year distribution agreement with TSB Bank to provide its general insurance products for the bank’s customers.
Under the deal, Aviva will offer its core general insurance products such as home, travel, motor, pet, and commercial insurance through TSB’s branch network, online and telephone.
TSB CEO Paul Pester said: "This partnership will enable TSB to launch a new range of insurance products for TSB customers including some innovative offerings such as our new ‘design your own’ home insurance."
Aviva will also provide its new modular home insurance product to the 4.7m customers of the bank.
The company said that it will manage claims and customer service for TSB from its operations in Perth.
Aviva UK general insurance CEO Maurice Tulloch said: "In choosing Aviva, TSB recognised the breadth and quality of our product portfolio, the dedication of our award winning customer service teams and our industry leading digital capability."
The firm provides life insurance, general insurance, health insurance and asset management services in 16 markets across the globe.