Grocery retailer to insure shoppers

Grocery retailer SuperValu has entered the insurance market, offering its customers discounted car and home insurance rates.

The company announced it has created 20 jobs after establishing a financial services division to launch a suite of home and car insurance products.

It has joined forces with AIG to offer supermarket customers discounted rates for car and home insurance.

SuperValu said it had opted for the move following customer feedback that it was one of a number of services they would like to see offered by the retailer.

Research conducted by Red C on behalf of SuperValu found 58% of car insurance and 38% of home insurance policy holders said they were likely to switch from their current providers.

Focusing on its customer base of 2.6m weekly shoppers, the retailer will offer shoppers, who sign up for home or car insurance, money-off vouchers up to the value of €20 to spend in-store and also give them the opportunity to avail of a 30% multi policy discount.

Some of the benefits being offered as part of SuperValu’s home insurance package include a 20% discount if the policyholder has a monitored burglar alarm, a 24-hour home emergency assist helpline, and up to €1,000 in SuperValu vouchers to replace freezer contents.

SuperValu’s car insurance product meanwhile, also offers a range of features including breakdown assistance and home start as standard, along with offering protection for possessions in a customer’s car for up to €300.

Managing director of SuperValu, Martin Kelleher said with consumer trust in financial institutions at “record lows”, people are looking to other companies to provide a wider range of services.

“With trust in financial institutions at record lows, we had a lot of interest from customers who were looking to avail of a range of services from SuperValu beyond our traditional food offer.

“As one of Ireland’s most trusted brands, we believe that we can combine great discounts for our customers with the quality and service you would expect from SuperValu.

“By partnering with AIG we have been able to fulfil this vision and roll out car and home insurance that rewards the customer,” he said.

The consumer line manager with AIG, Aidan Connaughton said that he hoped the collaboration with SuperValu would help offer customers excellent variety and value in car and home insurance.