Lloyds TSB pulls plug on Insurance Shop format

Lloyds TSB has scrapped plans to launch a chain of shops selling insurance products after tests revealed limited interest from shoppers.

Two Insurance Shops located inside Asda stores have been on trial since the beginning of last year. But Lloyds says the “offering is too narrow”.

Products include health, travel, motor, home contents and personal loan insurance. Shoppers can get on-the-spot insurance quotes and immediate cover.

But Lloyds has confirmed it plans to expand its Easibank format. It is in discussions with Asda to introduce the format at a further 30 superstores, on top of the existing 18.

Easibank is a mini Lloyds TSB branch which offers a slimmed down product range.

Lloyds TSB UK director of retail banking Gordon Pell says: “Our Easibank format has performed much better than our Insurance Shop brand because it has a much wider offering. We are not going to take the Insurance Shop any further, but could retain the existing branches to trial new ideas.”

In recent years all the major supermarkets have set up banking operations. But it remains uncertain whether customers want to make decisions on financial services when they are shopping at a supermarket.

Tesco Personal Finance recently scrapped its 12 in-store branches and launched a service online (MW October 21).

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here