Budweiser brews up insurance business to tap into 'untapped' market

Brewing company Budweiser is making an unconventional foray into the Canadian insurance industry with the launch of Budweiser Insurance.

Budweiser Insurance will provide unique lifestyle-based coverage opportunities that it says will offer a new and modern take on classic insurance plans.

The coverage will be available for Canadians who are of legal drinking age.

Mike D'Agostini, Budweiser senior marketing director, Labatt Breweries of Canada, admitted that although the move could be viewed as a bit "unconventional", it is a creative business extension for the brand. He said the new venture has been designed around meaningful insights about customer experiences.

"Unconventional as insurance may seem, Budweiser is known for putting our customers first. The pandemic opened our eyes to this untapped opportunity, which is aimed at providing better security for Canadians and enabling them to live the life they want," he said.

D'Agostini further explained: "Jumping into the insurance space allows us to not only create an innovative part of our business, but also shape a customer-centric approach to insurance that is totally ownable for the Budweiser brand.

"Budweiser Insurance will tap into a specific-type of coverage not currently available to Canadians and will help them enjoy a worry-free summer, because Bud's got your back."

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