Co-op financial brand looks into green insurance and mortgages

Co-operative Financial Services (CFS) is considering launching what it calls the UK’s first “green” mortgage and home insurance to sit alongside its Eco car insurance product.

CFS marketing director David Newman says the financial services organisation is considering the launch of a range of ethical products.

The plans follow the “early success” of its Eco car insurance, launched by sub-brand Co-operative Insurance Services (CIS) earlier this year (MW July 6).

Newman adds that CFS is responding to the growing demand from consumers for ethically and environmentally sourced products.

The company is launching a £1.3m TV campaign, created by Yorkshire-based agency Dig for Fire, to support the car insurance. Newman says the campaign was not part of the media schedule but has been developed to continue the success of the product. The media planning and buying is via Rocket.

The Eco car product contains environmentally friendly features, from the underwriting to the claims process.

It pledges to offset emissions by funding environmental projects and says its claims service is “environmentally backed”.

CFS is keen to develop its ethical image and has overhauled its marketing communications to reflect a green approach (MW February 16).

Newman says the Manchester-based firm is ethical “from top to toe”. He adds: “The key message for us is that it’s not marketing gloss. ‘Ethical’ is at a tipping point now: it is moving from niche to mainstream.”

The Co-operative Bank is assessing the results of its pilot consumer-facing brand, Stand Up. It has been tested across 16 branches in the Midlands and is designed to appeal to consumers interested in green goods and services (MW August 17).

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