IKEA starts offering insurance

Publish date 14 October 2014
IKEA starts offering insurance image

The Swedish furniture company IKEA Group will enter the insurance market, launching a number of trial products in selected stores in the next few weeks, informs WSJ, citing a familiar source.

On October 1, IKEA began selling insurance policies for children and pregnant women under the name Omifall1 in several selected stores of the chain in Sweden. Home insurance products will now be available in stores within weeks.

The insurance is aimed at the 2.5 million members of the IKEA loyalty club in Sweden, and the policies can also be offered abroad at a later stage. Worldwide, the IKEA Loyal Club has 59 million members.

Child and home insurance is handled by a company called the Ikano Group, which is part of the IKEA empire. It is owned by the three sons of 88-year-old IKEA founder Ingvar Kamprad.

Source: profit.bg