John Lewis is to begin selling a range of insurance policies under its own brand. But those hoping to exploit the firm's "Never knowingly undersold" slogan may be disappointed.
The company has previously sold insurance, alongside products such as event booking and travel, through a separate firm known as Greenbee. That's now closing, but the insurance will continue under the John Lewis name. (Existing Greenbee policies remain unaffected.) The actual cover will be provided by firms including ACA, Fortis, Friends Provident and Sterling.
The retailer has already made clear that it won't be offering the cheapest premiums by any means. That might not seem to gel with it's well known slogan, but that's because many people forget the full promise is "Never kowingly undersold on quality, price or service."
It appears the price guarantee won't come into play as the company will argue that rival policies aren't comparable. To make sure that's the case, it plans to add additional extras to the policies. For example, the home cover includes garden contents, while motorists are protected against the cost of taking a cab when they don't have time to wait for a courtesy car, or the horrendous expense that ensues after putting the wrong fuel in an engine.