J Sainsbury : Sainsbury’s Bank launches new lifetime pet insurance products and services

Sainsbury's Bank is launching new pet insurance products and services including a range of lifetime cover options for dogs and cats up to £7,500 a year.¹ Nectar members can take advantage of a guaranteed discount² and bonus points³ when purchasing Sainsbury's Bank Pet Insurance.

The new Sainsbury's Bank Pet Insurance products will be underwritten by Cardif Pinnacle. Both lifetime and time-limited cover will be offered to cater for the wide-ranging needs of different breeds of cats and dogs.

The new products are:

Lifetime - three levels of cover available up to £7,500 per year ¹

Time-limited - up to £3,000 of cover available ⁴

The new pet insurance products have been developed with the Sainsbury's customer in mind. A study of Sainsbury's shoppers found 46% of pet owners considered lifetime cover as the most important feature when insuring their pet.⁵ The new lifetime product benefits customers who may need cover for an ongoing condition.

In addition cover can be used for dental cover, complementary treatment and physiotherapy up to the annual cover limit each year.

A separate study of Sainsbury's shoppers found that 41% of pet insurance customers have switched providers and the top reason was cost.⁶ Sainsbury's Bank will offer Nectar members double Nectar points on Sainsbury's shopping and fuel⁶and those who have more than one cat or dog can take advantage of a multi-pet discount.⁷

Sainsbury's Bank Pet Insurance customers will also have access to a dedicated 24-hour veterinary nurse line that is open seven days a week, including Bank Holidays. The line is staffed by a team of experienced veterinary nurses who will be able to provide on-the-spot advice about a pet's condition.

Customers can also access My Pet Portal which will contain all of their policy information.

Karen Hogg, Head of Pet Insurance at Sainsbury's Bank said, 'We have listened to our pet owning customers to understand exactly what they want from their pet insurance. Our new policies provide different types of cover so owners can opt for the product that best suits them and their pet.

'When considering pet insurance we'd urge owners to think about the breed of their pet and consider if they are prone to any conditions which may mean they need lifetime cover which can help provide financial protection for ongoing conditions.'

Sainsbury's Bank is partnering with Cardif Pinnacle, a subsidiary of BNP Paribas Cardif, a worldwide provider of insurance and savings products.

Please visit www.SainsburysBank.co.uk/pet to find out more about Sainsbury's Bank Pet Insurance.

ENDS

For further information, please contact:

Sainsbury's Bank press office 0131 286 0010 / [e-mail]

Notes to editor:

This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers.

¹ There are three levels of lifetime cover offered by Sainsbury's Bank for cats and dogs. Lifetime cover will pay up to a total of £2,500, £5,000 or £7,500 (depending on the level chosen) per year.

²The discount is based on information related to you and the transactions you've made with Sainsbury's supermarkets and Sainsbury's Bank using your Nectar card.

³ Only available to customers buying a new Sainsbury's Bank Pet Insurance policy. You need to tell us your Nectar card number when you apply, and use this card with each Sainsbury's purchase. Double points begin on your policy's cover start date. If you don't tell us your Nectar card number until after your cover start date, double points will begin on the date you tell us. Double points stop when the policy is cancelled or you stop paying premiums. Each Nectar account can only collect points from one car insurance policy. It's only the base points you collect at Sainsbury's that are doubled. Bonus points won't be doubled, nor will any points from Argos, Habitat, Sainsbury's Bank (including travel money purchases), Sainsbury's Energy or any other Sainsbury's service. By the 10th of each month, you'll get a bonus point award equal to the total of your qualifying points during the previous month, up to a maximum of 20,000 points. Sainsbury's Supermarkets Ltd award the points from this offer. No cash alternative is available. We reserve the right to change or cancel this offer without notice.

⁴ Time-limited cover will be offered for customers to claim up to £3,000 in a 12 month period for each condition for cats and dogs.

⁵The Sainsbury's Bank Customer Panel was made up of 826 respondents and is managed by maru/matchbox. The data was generated in August 2019.

⁶ The Sainsbury's Bank Customer Panel was made up of 2,598 respondents and is managed by maru/matchbox. The data was generated in July 2017.

⁷Multi-pet discount is a minimum of £24 when insuring more than one pet as this is worked out at £1 per pet per month for each pet on a policy.. Pets can have different cover levels and optional extras. Discount deducted separately from any other offer.

About Sainsbury's Bank:

To view our latest press releases and product information, please visit the Sainsbury's Bank online media centre at https://www.about.sainsburys.co.uk/news

Sainsbury's was the first major supermarket to open a bank in the UK in February 1997. Our range of financial products includes, credit cards, savings and loans, as well as travel money, and car, home, pet, travel and life insurance which we provide online and by telephone. We offer Sainsbury's shoppers great deals and rewards for choosing to shop and bank with us.

We have travel money bureaux at various Sainsbury's supermarkets across the UK and a large ATM estate.

Sainsbury's Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury's Bank plc is covered by the Financial Services Compensation Scheme (FSCS).

About BNP Paribas Cardif

Cardif Pinnacle is the UK insurance business within BNP Paribas Cardif which serves 100 million customers in 35 countries around the world. The company is part of the global banking group, BNP Paribas, a European leader with a significant international reach. As the insurance subsidiary of BNP Paribas, BNP Paribas Cardif is the world leader in bancassurance partnerships and creditor insurance[1]. Within the UK, Cardif Pinnacle develops products and services for the Pet and Protection Insurance markets. Cardif Pinnacle's subsidiary BNP Paribas Cardif Ltd provides Motor Protection services.