It seems like more and more companies are diversifying their product offerings away from their core business and moving into financial services. The latest of these moves comes from The A.A. and Scottish Gas who have both recently decided to move into the life insurance market.
The A.A., who are already the UK’s biggest car, home and travel insurance broker, are to launch their service from 1st October. Scottish Gas are to provide their life insurance through Direct Life & Pensions, part of the Skipton Group.
In reality, these will probably just be 2 new channels selling the same life insurance from the usual big providers (e.g. Norwich Union, Standard Life, Liverpool Victoria etc. etc.), but in entering this market, they should make it even more competitive than it already is, and hopefully cheaper for consumers.