Following its acquisition of AIG Life UK, Aviva has signed a five-year partnership deal with the NatWest Group for the distribution of its protection insurance products through NatWest’s UK retail banking brands NatWest, RBS and Ulster Bank.
The deal builds on the current arrangement between NatWest Group and AIG Life which is now owned by Aviva.
Bank customers will be able to purchase protection cover either through their mobile banking app which will pre-populate their information, online or over the telephone.
A term life insurance quote will also be built into customers’ digital mortgage applications.
The protection products will provide customers with Aviva’s Digicare+ app.
Health & Protection reported that Aviva’s £460m takeover of AIG Life UK in September last year. The deal was cleared by the Competition and Markets Authority (CMA) in March this year.
The partnership with NatWest is effective from Autumn 2025, when bank and mortgage customers for the three retail brands will be able to purchase term life insurance, critical illness cover and guaranteed over-50s products provided by the insurer.
Daren Boys, protection portfolio distribution director at Aviva, said the bank had a strong digital customer strategy which it would help with its data science capability.
“We are delighted that NatWest Group has chosen Aviva to help their customers put vital individual protection cover in place,“ he said.
“We look forward to collaborating with them and continuing to innovate for their customers, building on the successful partnership they had with AIG Life.”
Lloyd Cochrane, head of proposition and protection at NatWest Group, said: “Today’s announcement marks an exciting new phase in our partnership with Aviva.
“This new ability to offer Aviva’s protection insurance products to our retail banking customers feeds into our wider strategic goal of meeting our customers at their point of need.
“We look forward to rolling this out across 2025 and working with Aviva to optimise this new service.”