Nationwide Insurance, the specialist arm of the building society, is understood to be holding a pitch for both its advertising and media planning and buying accounts ahead of a major relaunch later this year.
The pitch follows a deal tied up between building society Nationwide and Liverpool Victoria, known as LV=, for the latter to white-label its insurance products.
LV= is expected to run marketing for the division on behalf of Nationwide, andis thought to be investingover £10m.
From December, for six years, LV= will provide all of Nationwide’s insurance products, including travel, car and business insurance.
It is thought that Nationwide roster shop Tangible Financial, formerly known as CCHM: Ping, LV= incumbent Designate and Karmarama have been approached to pitch for the advertising business.
An LV= spokeswoman says: “We will be looking at how we will support themarketing for the Nation-wide insurance accountover the coming months, but at this time I can’t comment further.”
Under the partnership,all customer service callsto Nationwide will also behandled by LV=, and all existing insurance customers at Nationwide will have theirpolicies transferred to LV, where they will be under-written by LV= when up for renewal.
The deal is thought tohave been triggered by Nationwide’s desire to extend the number of products it offers to make it more comparable to the high street banks. LV= also has ambitions to be a top five insurer.
Separately, Gautam Datar, who joined LV= as head of brand management from Nationwide last year, hasleft the company and will not be replaced.