Santander Home Insurance is one of the banking group’s first insurance products to carry the Santander name in the UK ahead of the complete rebrand of its Abbey, Alliance & Leicester and Bradford & Bingley businesses by the end of next year.
Miguel Sard, chief executive of Santander Insurance Services, says the launch is driven by the consumer shift towards researching and buying insurance via aggregators and direct websites.
“We have been selling home insurance to customers for some time, but wanted to harness the potential of the online marketplace,” he says.
The Spanish banking group has appointed BGL Group’s affinity arm Junction to manage the direct online business and place the product on insurance aggregators.
Last month, the firm signed a five-year sponsorship deal with the Ferrari F1 team as well as extending its deal with McLaren.