Sainsbury’s is a retailing giant and the UK’s second-largest supermarket brand. As with rival Tesco, Sainsbury’s Bank spread its wings into the financial services industry in the 1990s and is now a well-established name in personal lines, able to play off its brand recognition, cross-selling capability, and strong understanding of its customers. A reduction in marketing activity around its personal lines insurance portfolio in a highly competitive market has seen Sainsbury’s remain below Tesco (and other retail brands in some cases) in terms of brand selection. The question is whether, facing a range of challenges in its core retail business, it will demonstrate appetite to fully leverage its strength in the insurance space.
- Sainsbury’s Bank was the 20th most selected insurance brand for home insurance, according to our 2015 General Insurance Consumer Survey, while it was only 29th most popular for car insurance.
- Sainsbury’s Bank’s insurance advertising has declined quite dramatically in the last couple of years.
Verdict Financial’s “Insurance Competitor Profile: Sainsbury’s” explores Sainsbury’s brand power within the context of Sainsbury’s Bank and looks at the strengths, weaknesses, opportunities, and threats found within Sainsbury’s insurance business.
Reasons To Buy
- Gather insight into where Sainsbury’s Bank is performing strongest by insurance product and purchasing method.
- Identify the comparative strengths and weaknesses of Sainsbury’s insurance business and the opportunities or threats emerging as a result.