Phone firm EE plans car and travel insurance
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Phone company EE plans car and travel insurance: UK’s largest mobile network in ambitious expansion strategy
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The UK’s largest mobile network, EE, could offer travel and car insurance over the next two years as part of an ambitious expansion strategy.
The company is reportedly looking to cover gadgets like smartphones before eventually expanding to other types of insurance.
It follows an announcement last week that BT-owned EE would begin offering customers cyber and home security packages through a partnership with antivirus firm Norton and alarm system group Verisure.
Expansion Plans: The company is reportedly looking to cover gadgets like smartphones before eventually expanding to other types of insurance
A source said they “wouldn’t be surprised” if the company started offering the products in a year or two.
Paolo Pescatore, analyst at PP Foresight, said such moves from EE would likely be “just the beginning” as UK telecoms look for ways to generate new revenue streams.
He added that moving to new areas is “of paramount importance for future survival” for major telecom companies.
Plans for EE’s expansion are coming ahead of BT’s half-year results this Thursday, with many investors looking to see how the FTSE100 company holds up amid fears the cost-of-living tightness will cause customers to cut back on internet services. and telephone subscriptions.
There will also be interest in how the group is dealing with a wave of strike action as workers resign amid a bitter dispute over pay.