Eagle Star is about to sign a deal with Air Miles which could make it the first insurer to offer loyalty points to customers.
Eagle Star will join the incentive company’s other major partners NatWest Bank, Sainsbury’s, Vodafone and Shell, in an attempt to break out of price competition in the insurance market.
It is understood that motor and home insurance policy holders will receive Air Miles when they take out or renew their premium.
Air Miles’ parent British Airways is also on the verge of signing a deal with Eagle Star to produce branded financial products. Eagle Star spokesman Andrew Baud admits the insurer has set up a team to look at joint venture opportunities.
Two weeks ago, Eagle Star announced it will sponsor the TWR Formula One team Danka Arrows Yamaha. The two-year deal allows Eagle Star to put its logo on the car and the drivers’ overalls.
Eagle Star has 4 million travel insurance customers, 1.8 million motor insurance customers and 1.3 million household insurance customers.