The Hartford Financial Services Group and Sears, Roebuck & Co., have signed an agreement to market home and auto insurance to Sears’ 60 million customers. The insurance products will be marketed under the Sears name, but the policies will be underwritten by The Hartford, with Sears earning a commission on all policies sold.
The arrangement is similar to an arrangement between the retailer and Allstate Corp. under which Sears offers self-branded life and health products. Sears owned Allstate until 1995 when it was spun off. The company reportedly chose The Hartford over Allstate because it was a better fit. The Hartford has similar arrangements with Ford Motor Co. and the American Association of Retired Persons.
It will be pitching its products through a direct-mail campaign to Sears customers beginning July 1.
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