Tenant Shop partners with Legal & General
Tenant Shop, the tenant concierge service company, is creating a single insurer relationship with Legal & General to offer protection products to the private rental sector.
Founded in 2008, Tenant Shop serves over 10% of the PRS in the UK through its “extensive base” of letting agents. The company, which provides a range of home products and services geared towards renters on the move, will offer a range of L&G products including life insurance, critical illness cover, income protection and the newly launched rental protection plan.
“Inchora has invested heavily in the rental space and has established an enviable position as the leading service provider to letting agents, demonstrated by 6 years of gold awards for delivery of services to tenants and the 2020 ESTAs gold award for best service provider to Letting Agents. Tenant Shop has an unparalleled ability to monetize the needs of the tenant while delivering a five-star service. Aligning our skills and abilities in Financial Services with our experience of the rental sector is the logical next step. When you add to that our exciting new referencing capability and our Void energy solution for landlords, Tenant Shop is truly the only one stop shop solution available to letting agents.” – Steve Whatley CEO of Inchora, the investment company behind Tenant Shop.
“Nearly a quarter of UK households will be renting by 2023 and the protection needs of these families will need to be met by products and solutions specifically designed for them. First-time buyers usually receive a protection ‘nudge’ when they seek mortgage advice, but most renters do not benefit from the same prompt. This leaves tenants facing a greater risk of vulnerability due to unforeseen circumstances. We believe that tenants are an underserved group in the protection market and we want to better address the needs of tenants through relevant and tailored propositions. Legal & General is proud to have been the first provider to offer a bespoke rental product and we are now delighted to be partnering with Tenant Shop to support renters in ensuring they have access to vital protection products and support their financial resilience.” – Craig Brown, Director, Intermediary at Legal & General Insurance.