June 19, 2023 — SONNET Insurance has teamed with Tangerine to offer the digital bank’s two million customers exclusive deals on home and auto insurance.

Tangerine credit card users can earn back 2% of their insurance premiums when the bank’s credit cards are used for recurring payments for policies with Sonnet, the direct channel arm of Waterloo, Ont.-based insurer group Definity Financial Corp.

“This relationship speaks to the needs of our like-minded customers who value digital-first experiences that are trusted, straightforward and customized,” Sonnet senior VP Roger Dunbar said in a recent press release.

The companies said the relationship offers “a refreshingly uncomplicated, purely digital experience to buy home and auto insurance.”

Tangerine was launched as ING Direct Canada in 1997 and was acquired by Scotiabank in 2012. The current branding was rolled out in 2014.

Sonnet was launched in 2016 and is headquartered in Toronto. Its direct written premiums were up 13% in 2022 compared to the year before to more than $332m, spurred by aggressive marketing on mainstream and digital channels.

“Through this relationship with Sonnet, we are thrilled to provide our clients with access and savings on simple and seamless insurance options that make it easier for them to get the coverage they need, with the innovation and client care they are accustomed to,” said Gillian Riley, CEO of Toronto-based Tangerine.

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