Insurance
Home›Insurance›Industry & Deals›Avios Insurance launches in the UK with travel coverag…
Avios Insurance launches in the UK with travel coverage and rewards
Customers can earn 10 Avios for every £1 spent on travel insurance, with each policy capped at 1,000 Avios.
Open Insurance Technologies and IAG Loyalty have launched Avios Insurance in the UK, a new insurance brand designed to let customers earn Avios points when they buy coverage. Travel insurance is available at launch, and car and home insurance are expected to follow.
According to Coverager, the travel insurance offering pays out 10 Avios for every £1 spent on either single-trip or annual travel insurance, up to 1,000 Avios per policy. Coverager also said upcoming car and home products are each expected to offer up to 5,000 Avios, enabling members to collect as many as 11,000 Avios across the program.
The brand uses Open’s technology and insurance relationships, including regulated operations and policy administration. Coverager said customers can quote, purchase, manage, and renew policies through Avios Insurance without being redirected to a third-party platform.
Policies are arranged and administered by Open Insurance Services UK on behalf of a panel of UK insurers, the outlet reported. Coverager added that the launch expands on an earlier partnership between Open and IAG Loyalty that introduced Wanda by Avios, a travel insurance product that also rewards Avios.