NatWest Launches Sub-60-Second Home Insurance Quotes in Exclusive Uinsure Tie-Up
NatWest Launches Sub-60-Second Home Insurance Quotes in Exclusive Uinsure Tie-Up #
NatWest has struck an exclusive deal with insurance technology platform Uinsure to offer a home insurance service that can deliver quotes in under 60 seconds, the bank announced on Tuesday 28 July. The service is available to NatWest customers and non-customers through the NatWest app, website, phone line, or any branch.
The service uses a panel of UK insurers that compete on price for identically specified cover, rated five stars by independent financial research firm Defaqto. NatWest says the competitive pricing applies at each renewal, not only at the point of sale, addressing the common complaint that premiums rise after the first year.
The launch also introduces a feature called the Home Insurance Tracker, built into the NatWest app. Users can upload and monitor the price and coverage details of any existing home insurance policy, regardless of provider. The bank says the tracker will flag whether customers are getting fair value, removing the need to shop around manually.
The bank and Uinsure jointly commissioned a survey of 2,000 UK homeowners to coincide with the launch. The findings showed that nearly half (48%) had not reviewed whether their current home insurance offered good value in the past twelve months, and one in three cited the inconvenience of switching as the main reason for not doing so. The survey also found that 86% of respondents would welcome their bank using data it already holds to offer relevant home insurance, and 68% said they would trust their bank to quote a fair price.
Toni Powling, Head of Insurance at NatWest, said the tracker would handle the monitoring burden on customers’ behalf, “even if their cover isn’t with us.” NatWest serves roughly one in three UK families, she added, describing the service as an effort to simplify everyday financial decisions.
The deal is part of a broader bancassurance strategy at NatWest Group, which already holds a protection insurance partnership with AIG Life, now owned by Aviva. For Uinsure, it is a high-profile validation of its technology platform at scale; the insurer’s chief executive described it as “a significant moment, for us and for the market.”
Copy link