The SME products mark the bank’s ‘first stepping stone’ into insurance as it plans to launch pet and travel covers later this year
Retail banking organisation Metro Bank has teamed up with Churchill Expert, part of the Direct Line Group, to offer a new range of insurance products targeted at small to medium-sized enterprises (SMEs), according to Best Advice.
The partnership is providing access to seven different products for businesses working across 11 industries. The products include:
- Residential and commercial property owners (real estate).
- Shop and retail.
- Office and surgery.
- Manufacturing and wholesale (including hotel and leisure).
- Businesses from home.
SMEs are able to apply for these covers via Metro Bank’s website, or over the phone. Existing Metro Bank customers can also apply using their mobile or online banking.
Speaking on the partnership, Ian Exworth, director of affinity and aggregator at Direct Line Group, said: “We are happy and excited to launch our new Churchill Expert partnership with Metro Bank and look forward to bringing the very best in SME insurance to Metro Bank business customers.
“With new needs and requirements emanating from the pandemic-affected last 12 months, we look forward to working with Metro Bank to continue to develop our product suite to best fit the evolving needs of SMEs.”
Kat Robinson, director of customer experience at Metro Bank, added that the new SME product range ”is just the first stepping stone in our insurance journey”, as the bank plans to launch ”pet and travel insurance offerings later this year”.
She continued: “This is a crucial step for Metro Bank, as we continue to deliver new products and services that appeal to our growing base of business customers and deliver on our strategy to become the UK’s best community bank.
“We’re thrilled to launch into the SME insurance market with Churchill Expert after what’s been a very difficult year for businesses across the country.”