O2 has invited distributors to tender for its lucrative insurance fulfilment contract following the exit of leading insurance broker Marsh from the mobile phone insurance claims sector.
Marsh issued O2 and its fulfilment partner 20:20 Mobile notice of its intention to quit mobile phone insurance this month. O2 had utilised Marsh to secure a series of underwriters and logistics partners for its insurance cover.
An O2 spokesperson said: “We can confirm that we are currently going through the request for proposal process for our insurance providers and we are reviewing our options with regard to the supporting functions. We will keep you updated when we have an announcement to make.”
20:20 UK managing director James Browning said: “Currently the relationship remains unchanged and we are working, in conjunction with our partners, to respond against O2’s request for proposal requirements.”
A Marsh spokesperson said: “Marsh has recently undertaken a strategic review of its mobile phone insurance scheme business, which principally provides claims administration. From this review, it has concluded that this business is not core to its principal activities as a leading insurance broker and risk adviser in the UK.
“As a consequence of this decision, Marsh is conducting an orderly wind down of its mobile phone insurance scheme contracts over the next six months.”