Orange and Telefónica prepare to offer home and car insurance

Orange and Telefónica are negotiating with new alliances with insurers to offer their clients risk coverage policies, both car and home. The objective is to diversify your business portfolio, in an objective that neither Vodafone nor Masmóvil have.

From Orange it has been explained to Efe that they are currently studying the different offers that several insurers have presented to them to carry out a business alliance in Spain, in a process that is not yet closed and that does not have the association formula that will be chosen Orange is going to start shortly with its bank and has also put the focus on the insurance sector to be a company that offers a multitude of services, beyond telephony.

Zurich is one of the entities that negotiates with Orange, as both the insurer and the telephone operator have confirmed to Efe, although both have stressed that these contacts are simultaneous to those that Orange has with other insurance companies within the open call .

Yes, it confirms more advanced negotiations Telefónica to enter into an upcoming new alliance in the non-life insurance business.

Telefónica España has explained to Efe that they intend an association to offer home policies to Movistar customers and in those negotiations BBVA Seguros and Santalucía are the two best positioned insurers.

Telefónica will also offer soon insurance to users of Movistar Car, the specific device for the connected car, and in this case the most advanced negotiations have them with Mapfre.

Vodafone Spain has told Efe that they do not contemplate this expansion of the business towards insurance or other areas of activity, as the company prefers to focus on offering the best service "at the base of the business", which are telecommunications.

However, for the coverage of the internet of things applied to the automotive industry, Vodafone Automotive, the operator reached an agreement with the insurance company Generali in July 2018, as well as to cover the smoke or water sensors used in home automation and telematic managers Vodafone offers Caser insurance.

A spokesman for the MásMóvil group has told Efe that diversification towards insurance is not in the company's plans, although they do offer risk coverage for thefts and breakdowns of mobile phones acquired through its Yoigo brand, also through the insurance company Caser.

This type of insurance, in the case of accidental damage or theft of mobile phones or tablets, is offered by Movistar through another group company, Telefónica Seguros, a subsidiary in Spain of Telefonica Insurance, which is based in Luxembourg.

Coverage can be obtained if it is contracted within fifteen days after the purchase of the device, with an annual premium plus a franchise.

In cases of loss, breakage or theft, both Orange and Vodafone offer their insurance in Spain through the company Chubb, a Swiss multinational insurance company listed on Wall Street.