Morrisons has become the latest UK supermarket to expand its financial services offering, launching new pet and travel insurance policies. The move places the retailer alongside Tesco, Asda, and Sainsbury's in treating insurance as a key part of their customer strategy.
Partnership with Hood Group
The supermarket has partnered with Hood Group to roll out the products. Morrisons Pet Insurance is underwritten by Burns & Wilcox Global Solutions Limited on behalf of Accredited Insurance (UK) Limited. It offers three levels of lifetime cover with annual veterinary fee limits of £2,500, £5,000, and £10,000. Policyholders also receive round-the-clock access to UK-based vets and nurses through a dedicated Pet Health Assist Line.
Morrisons Travel Insurance, underwritten by AXA, is available in three corresponding levels of cover and includes gadget protection as standard for customers who buy directly. Both products are available through Morrisons.com and are powered by Hood Group's digital platform.
More Card Rewards
A major part of the launch centres on the supermarket's More Card loyalty scheme. Customers taking out a pet insurance policy will receive 20,000 More Points, while travel insurance customers can claim a 10% discount. Every 5,000 points can be exchanged for a Morrisons Fiver to spend online or in stores, linking insurance purchases directly to shoppers' existing grocery spending habits.
Jamie Winter, Morrisons' director of procurement, said: "With the launch of Morrisons Insurance, we're giving customers access to trusted pet and travel cover while rewarding them through our popular More Card with points and exclusive discounts. These new services are designed to make life a little easier by offering simple, good-value options in areas that really matter to our customers."
Supermarket Insurance Race
Morrisons is the latest supermarket to expand into insurance as Britain's biggest grocers increasingly diversify beyond food retail. Tesco already offers a wide range of insurance products, while Asda has recently launched business, gadget, home, and motor cover through a series of partnerships. Sainsbury's has also remained in the market after Allianz took over home and motor policies for existing Sainsbury's Bank customers.
The expansion reflects the growing use of loyalty schemes, digital platforms, and established retail brands to help supermarkets distribute insurance products.
