American group CUNA Mutual offers financial services to credit unions and other mutual organizations in the United Kingdom and throughout continental Europe.
CUNA Mutual Group Europe, based in Dublin, has built a network of partnerships with U.K. building societies, offering products in such areas as mortgage payment protection and life insurance.
CUNA's latest venture in the United Kingdom is a partnership with the Co-operative Group, to provide co-branded funeral insurance. Co-operative Funeralcare is the United Kingdom's number one provider of funeral services.
CUNA, which will sell the funeral product through a variety of channels, sees the venture as a chance to deliver business to the Co-op.The funeral product came from an idea that originated in the Caribbean. It is a life policy with a link to the Co-op's funeral program, and its large market and its ownership of more than 50% of U.K. funeral homes.
New research from YouGuv says that more than eight in ten Britons have made no provision for their funeral costs. 40 million people would leave their families with an average £3000 immediate bill for the cost of their funeral.
Funeral plans: News update: 5 October 2010