British Supermarkets Cash in on Insurance

In addition to providing for all the citizenry's grocery needs, British supermarkets now are offering a full range of services, from wedding ceremonies to insurance. An Asda store in York, England, became the first supermarket to be licensed for full wedding ceremonies. Less imaginative grocers have contented themselves with selling frozen foods, toiletries, cookware sets, and insurance.

New technology that provides retailers with sophisticated data regarding their customer's needs and wants has made supermarkets particularly well suited to take advantage of the insurance market. Since Sainsbury's became the first British supermarket chain to offer its own in-house bank in 1997, this sector has blossomed, according to the Liverpool Daily Post. Other retailers quickly followed suit, including Safeway, Marks & Spencer, and the ubiquitous drug store, Boots. The coverage available through such outlets encompasses car, life, holiday, pet, and buildings and contents insurance, the Post noted.