Yorkshire Building Society Rolls Out New Home Insurance Services And Waives Commission To Further Support Customers
08 January 2025
- Mutual supports customers by waiving all commission to provide the best possible price
- Almost a quarter (23%) of Brits admit to having no protection in place for their home
- A third (31%) citing policies are too expensive
- Over a quarter (26%) have not reviewed their current policy for over two years
Yorkshire Building Society has partnered with award-winning insurtech Uinsure to make home insurance more accessible, affordable, and transparent.
This collaboration enables the mutual to offer its customers easy access to competitive insurance products and it has made the decision to waive all commission fees, so its customers get the best possible price for every policy.
By leveraging Uinsure’s advanced technology and partnerships with a panel of leading UK insurers, Yorkshire Building Society customers receive tailored insurance quotes based on a 5-Star Defaqto-rated policy. The only variable between options is price, simplifying comparisons and making it easy for customers to see which policy is the best value.
As part of its customer-first ethos, Yorkshire Building Society’s decision to forgo commission demonstrates its commitment to long-term value and this innovative approach has already proven to be popular after the partnership reported strong sales in the first official month of business.
This partnership strengthens Uinsure’s position as a trusted insurance provider for the financial service industry, with Yorkshire Building Society becoming the third top-10 building society to join its growing portfolio, alongside Leeds Building Society and The Nottingham Building Society.
The need for accessible home insurance is underscored by new research from Yorkshire Building Society that revealed:
- Almost a quarter (23%) of UK households have no buildings or contents insurance.
- Cost remains a key barrier, with 31% citing high premiums as the reason for not having insurance.
- Over a quarter (26%) of respondents admitted they review their policies only every two years or more, leaving them vulnerable to outdated coverage.
Chris Irwin, director of savings at Yorkshire Building Society, said:
"I'm really pleased to launch this new service to our customers. Finding partners that hold values aligned to our purpose was absolutely essential.
“We’re confident we’ve found this in Uinsure and I’m excited to see how they can help our existing and future customers with their protection needs going forward.
“It is important for our customers to be able to access the right insurance products at an affordable price available in ways that they want. We believe by passing commission back to customers, reducing their premiums, continues to demonstrate our commitment to member value and we hope this new service will enable customers to enjoy life knowing we have options available to give them the protection they need.”
Lauren Bagley, chief distribution officer at Uinsure, added:
"Our mission is to make insurance more accessible by offering a seamless, user-friendly purchasing experience for our partners' customers. At the core of this mission is our innovative technology, which sets us apart and empowers us to deliver on this commitment.
“Our collaboration with Yorkshire Building Society reflects the trust that major brands place in our technology and service. Their dedication to delivering excellent customer outcomes aligns perfectly with our values, creating a natural synergy between our teams. Together, we’ll enhance the insurance journey, making it effortless for Yorkshire Building Society customers to secure the protection they need."
