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Building society teams up with fintech to offer ’20-second’ home insurance quotes

Nick Cheek
Written By:
Nick Cheek
Posted:
Updated:
16/05/2023

Leeds Building Society has partnered with fintech firm Uinsure to allow society customers to arrange home insurance quotes in ‘just 20 seconds’.

Mutual members can get a quote online in as little as 20 seconds and can get quotes in branches in minutes.

The lender said that this is a fraction of the time its takes with direct insurers and aggregators and the only information required is name, date of birth and postcode.

The partnership will offer the mutual’s customers to around seven leading underwriters who compete to deliver the lowest price on Uinsure’s five star Defaqto-rated policy. The cheapest is offered to members.

Leeds recently partnered with credit ratings service Experian to allow borrowers to use the company’s boost service, so Netflix and Spotify subscriptions can contribute to affordability.

Offering peace of mind

John Scally, head of commercial development at Leeds Building Society, said: “Our purpose is to put homeownership in reach of people, and this partnership with Uinsure means we can offer our members peace of mind that their property is protected should they suffer any unexpected loss or damage.

“We have made use of new technology to simplify the application process in order to encourage people to protect their homes, which is usually the most expensive asset people own.”

He added: “It’s important to us that our service is accessible for everyone, so customers will be able to apply online, in one of our branches, over the telephone or alongside their mortgage application with Leeds Building Society.”

Martin Schulthiess, Uinsure’s group managing director, added: “The partnership underlines how smart insurance technology can play a big part in helping people protect their homes and we’re excited to deliver this to Leeds Building Society members.”