Tesco to Enter UK Life Insurance Market
Tesco, a UK retailer, is expected to expand its range of financial services by entering the market of life assurance. The company, which is already present on the British banking market, recently announced that it signed an agreement with insurance providers to sell household and car cover.
Despite the fact that these sectors, as well as pet cover, have previously been the major focus of Tesco, life assurance is expected to become another sphere that the giant retailer will enter.
Commenting on the coming changes, Mr. Higginson of Tesco said that the company's insurance business will become more flexible and unique, which will allow the retailer to provide UK customer with better products.
The potential of Tesco on the market of financial services is high, experts believe. As such, researchers from Lafferty Group say that "they are really on the right track" despite the small issues that may arise.
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