The insurance specialist, Junction, has announced that it will merge with the high street bank, HSBC, in a five-year contract, to provide a range of motor and car insurance products and services to its customers.

The bank selected Junction, for its expertise in the area of motor insurance and ability to grow it file size, enabling the bank to meet its customers’ expectation of high standard quality car insurance products. This union between Junction and HSBC, places the bank in the third position of its biggest clients.

Junction will provide car insurance products, to the banks customers, within the various branches, online and via phone and the products and services will be provided under the HSBC Insurance brand.

Peter Thompson, Managing Director of Junction said: "Banks need to address customer requirements for quality products and services that may be outside their core business area. By outsourcing the provision of insurance to experts such as Junction, they can ensure that the products offered are competitive and of a quality that reflects their brand values. HSBC is a well known and trusted banking brand, and we are proud to deliver motor insurance in its name."

Andy Watson, Chief Executive of HSBC General Insurance UK commented: "Our new partnership with Junction is great news for our customers. Junction has proved it can deliver tailored products fast and with flexibility to react to market changes. As experts in providing motor insurance, we are confident that HSBC customers will benefit from high quality competitive products, supported by excellent service, starting with the sales process and continuing through a fast and efficient handling of claims."