Dive Brief:
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Flat-pack furniture retailer Ikea Group is offering prenatal and childcare health insurance at some of its Swedish stores on a trial basis.
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The retailer plans to begin offering home insurance in coming weeks as well.
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The moves are part of a larger plan to offer insurance products to its 2.5 million loyalty members in Sweden through insurance and financial services company Ikano Group, which is separate from Ikea but is run by the three sons of Ikea’s founder, Ingvar Kamprad.
Dive Insight:
Although Ikea founder Ingvar Kamprad is approaching the age of 90, his three middle-aged sons have had little to do with the furniture giant’s operations. Ikea’s move into insurance by an entity the sons control is likely a sign that that is beginning to change.