Category: Embedded insurance · Reviewed by Matt Bartlett, Director · Founder · Last reviewed 2026-06-10
A co-branded insurance product is an insurance contract distributed under the joint branding of two named parties — most often the FCA-authorised insurance provider and a partner brand whose customer base or marketing channel is leveraged — with both brands visible to the customer in marketing, policy documents and customer support.
Category: Embedded insurance Aliases: co-branded insurance, dual-branded insurance, partnered insurance product, joint-brand insurance Established: Common across UK retail and motor markets for several decades; renewed activity from c. 2015 in retail and fintech partnerships Related: White-label insurance, Affinity insurance, Marketplace insurance, Embedded insurance at point of sale
Co-branding is distinguished from white-label insurance in that both partner brands appear to the customer, and from affinity insurance in that the partnership is brand-led rather than membership-led. The motivation for co-branding is typically marketing reach and customer trust: the partner brand provides brand-equity capital that the insurance brand alone may lack with the target audience.
UK co-branded products are common in motor insurance (Hastings Mansion, Hastings Premier with various partners), retail co-brand partnerships, and credit-card-bundled insurance (where a credit card brand is paired with a travel-insurance brand). The historical Mansion / Hastings partnership is a notable UK case study of co-branding in motor.
Each party’s regulatory role is defined in the distribution agreement. Typically the FCA-authorised insurer or distributor holds the regulatory permission and the partner brand acts as an introducer, appointed representative or marketing partner. The FCA Connect register records the arrangement.
ICOBS 4.1 requires the firm to disclose its name, address, role and the nature of its involvement before the contract is concluded. In co-branded arrangements, the disclosure must clarify which party is the insurer, which is the distributor, and what the partner brand’s role is. ICOBS 4.4 requires disclosure of commission arrangements.
PROD 4.2 requires manufacturers to identify the target market and to test that the product delivers fair value to that target market. In co-branding, the manufacturer’s target market must contemplate the partner brand’s customer base. PROD 4.3 places distributor obligations on each firm involved in distribution.
PS22/9 (July 2022) brings the consumer understanding outcome particularly to bear. The FCA expects co-branded products to make clear which party is responsible for what. The customer should understand who underwrites, who handles claims, who handles complaints, and what role each brand plays.
The price and value outcome requires each party’s contribution to the total customer price to be tested. Where the partner brand’s marketing royalty significantly inflates the customer price without commensurate customer benefit, fair value testing may flag concerns.
The General Insurance Pricing Practices remedy in PS21/5 (May 2021) applies to motor and home co-branded products. Renewal pricing must not exceed equivalent new-business pricing through the same channel.
Where operational functions are split between the parties, SYSC 8 (outsourcing) applies. The authorised firm cannot delegate accountability for regulated activities; the contractual arrangements must address performance, audit, exit and continuity.
The parties agree a distribution and marketing partnership. The product is designed (or an existing product adapted) for the target market. Branding rules — typography, palette, ordering of brand marks, brand-mark placement on documents — are specified in a brand book. Customer-facing marketing materials show both brands; the product literature, IPID and policy documents disclose the regulatory roles. Customer service may be operated by either party or split — for example, sales by the partner brand and claims by the insurer.
Variations include three-way co-branding (insurer, distributor and host merchant — common in embedded retail), retail-financial co-brands (supermarket and bank insurance), and fintech-and-insurer co-brands (Monzo Premium with insurance providers, Revolut with travel insurance underwriters). The Consumer Duty’s emphasis on consumer understanding has reduced the prevalence of confusing multi-brand arrangements.
A co-branded motor insurance product is marketed under both the partner brand and the insurer’s brand. Marketing materials show both logos; the IPID is single-issuer and names the insurer; ICOBS 4 disclosure is integrated into the policy summary and online journey. The PROD 4 product file documents the target market reflecting the partner brand’s customer base. Renewal pricing is constrained by PS21/5 and the fair-value assessment is reviewed annually.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-10. Next review: 2026-12-10.
Apex Insurance Brokers Limited. Authorised and regulated by the Financial Conduct Authority, FRN 724952. Registered in England and Wales, Companies House 07014570. This entry provides general information about UK insurance concepts and is not regulated advice. Consult your insurance broker on your specific position.
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