Challenger bank Starling adds Churchill Insurance to offering
UK challenger bank Starling and insurance firm Direct Line Group have announced a partnership allowing the insurer to sell its products on the bank’s app.
Founded in 2014, London-based Starling has raised a total of £233m to date for its app-based banking service.
It will now offer buildings and contents cover from its Churchill brand.
The products will be available through the tech firm’s online marketplace, which already offers products from business partners including online mortgage broker Habito.
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Customers who chose to buy the product through Starling’s app will be able to access information on their policy through their Starling bank account.
The partnership will allow the pair to make use of open banking technology, which allows applications and financial institutions to safely share customer data.
Direct Line Group director of partnerships Rob Fleet said: “We recognise that the platform economy provides significant opportunities to streamline the insurance experience.
“Starling Bank is at the forefront of this movement and this partnership enables us to innovate as we continue to make insurance easier and better value for customers by providing seamless access to our insurance services through transactional application programming interfaces.”
Starling chief executive Anne Boden said: “Churchill is a well-known and trusted brand and we are both committed to using technology to financially empower our customers.”