The fast-growing website silversurfers.com, which targets the over-50s with discounts and services, has struck a deal with major insurers as it takes a swipe at the Saga market.
The website has launched a range of products in partnership with insurers Allianz Global Assistance, A-Plan and Free Spirit. These include motor, home and life insurance.
Silversurfers is run by co-founder and chief executive Martin Lock who was pivotal in setting up BA.com for British Airways in the 1990s.
Target: Silversurfers.com has struck a deal with major insurers to offer services to over 50s
Lock said: ‘This is a major development for us. We know Saga makes about 75 per cent of its revenue from selling insurance so this seemed to be a natural thing for us to do.
‘This was the strategy from day one. We just needed the right partners.’
The website was launched in December 2013 and has already raised £2 million for growth from private investors. Saga floated in 2014 with a value of £2.5 billion.
Silversurfers also operates a discount card.