NatWest launches new home insurance proposition

NatWest has launched a new home insurance proposition in partnership with insurance technology firm Uinsure.

The cover – also available to NatWest non-customers – will be distributed via the bank’s website, phone channels, in branch and through the NatWest app.

It will also see a panel of UK insurers compete for business both at policy inception and renewal.

Lauren Bagley, chief distribution officer at Uinsure, said: “For a bank of NatWest’s scale, to put Uinsure’s technology at the heart of its home insurance offer is a significant moment, for us and for the market.

“It shows that when the right technology exists, institutions with millions of customers can deliver insurance in a way that genuinely works, with a panel of leading insurers competing at purchase and at every renewal.

“Our insurance tracking technology puts customers in control in a way they haven’t had before and directly answers the challenge of switching hassle so many told us about in the research.”

Tracker tool

Alongside its new home product, the bank has launched a Home Insurance Tracker tool, with customers – including of other providers – able to upload policy documents to monitor cover levels and price comparisons over time.

NatWest said the tool would allow customers to “receive reminders when their policy is due for renewal and alerts when better value may be available, helping them stay on top of their insurance without the need to regularly shop around themselves”.

Toni Powling, head of insurance at NatWest, said: “Alongside providing quality cover at a competitive price with a quote in seconds, the Home Insurance Tracker means our customers no longer have to keep checking whether they’re getting a fair deal, because we’ll do it for them, even if their cover isn’t with us.”