El Corte Inglés and Grupo Mutua are now in a position to deepen the strategic alliance that will mean offering a range of insurance products to customers of the department store chain. Customers have already started receiving personalized communications to alert them to changes in service offerings, which means: El Corte Ingles stopped being an insurance broker and continues to market as agency insurance connectedon behalf of and on behalf of insurers.
El Corte Ingles already Mutual Groupthat it is a part of SegurCaixa Adeslas and that it is part of Seguros El Corte Inglés Vida y Pensiones. The difference between insurance brokerage and associated insurance agent is that the agent is for a single company’s products whereas an insurance brokerage usually markets the products of several insurance companies.
El Corte Inglés now offers a new range of private insurance. home, car, motorcycle, life, accidents, health and deaths Mutua Group’s insurers and, in some cases, other insurance companies with agency agreements.
Impact on customers
Customers’ existing insurances with different insurance companies will remain in effect as before, and ECI will continue to provide support. This personal information they will be treated the same at remote customer service or through offices in shopping malls.
ECI’s further step in insurance marketing is the result of the Mutua Madrileña operation’s approval by the National Markets and Competition Commission (CNMC) to acquire 50.01% of Seguros El Corte Inglés.
The operation has two parts: On the one hand, Mutua bought 8% of El Corte Inglés. 555 million. The group, on the other hand, holds half of the insurance division of El Corte Inglés for an additional 550 million. In this way, the acquisition totals 1,105 million Euros. The entire operation follows the expansion of the agreement with CaixaBank to expand the insurance marketing to the former Bankia network, which was taken over by the Catalan entity. For this, the insurer paid $ 650 million. SegurCaixa AdeslasAt a net cost of approximately 325 million euros for Mutua as the owner of 50% of SegurCaixa Adeslas.
Source: Informacion
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