Proposals to move business to Carole Nash
68 staff from Choice Quote Insurance Services are in consultation over their future following a business review by Groupama-owned GUK Broking Services (GUK).
The review outlines proposals for change to the business model of Choice Quote, a subsidiary of GUK.
Proposals include transferring the servicing and customer contact of Choice Quote’s personal lines and commercial vehicle portfolio to Carole Nash Insurance Consultants and consolidation of Choice Quote's commercial insurance portfolio into a single office in Glasgow in Q2 2011.
Personal lines business will continue to trade on-line via aggregators using the ChoiceQuote brand.
François-Xavier Boisseau, chief executive of GUK, said: "Trading conditions in the markets in which ChoiceQuote operates have been very tough throughout 2010. Not only have premium rates risen very sharply but underwriting capacity has reduced significantly too. It has therefore been necessary to look very closely at ChoiceQuote’s future business model to ensure that they are best placed to meet these challenges."
Choice Quote opened a six week consultation period with affected managers and employees on 9th November. If the proposals are accepted it will then be necessary to complete a detailed feasibility study to examine the practicalities surrounding any agreed changes and to establish the best business approach to ensure a smooth transfer so that client relationships and customer service are not compromised.
A GUK spokesman said the firm was keen to retain as many staff as possible within the restructured business.
Cathie Bruce, managing director of Choice Quote, said: "Market conditions in some of the specialist markets in which we operate are currently extremely challenging and to ensure our continuing profitability we need to keep our expenses low and to trade as cost effectively as possible. These business proposals are designed with this in mind.
“We do of course, understand the potential impact that these proposals might have on our people and we will be doing everything we can to provide the help and support they require throughout the process.”
Choice Quote Insurance Services was acquired by GUK in 2008 and offers personal and commercial motor insurance products including taxi insurance, motor trade insurance and private car insurance from offices in Liverpool, Manchester and Glasgow.