FirstAssist has announced a complete overhaul of its current business structure “to provide even greater focus on its core expertise”.
As of 1 January 2007, the group will be split into three independent units - FirstAssist Insurance Services Limited, FirstAssist Legal Expenses Insurance Limited, FirstAssist Services Limited.
FirstAssist Insurance Services will provide and distribute a range of health related insurance products (personal accident, hospital cash plans, creditor and travel policies).
FirstAssist Legal Expenses Insurance will encompass the before and after the event legal expenses businesses and will be an FSA appointed representative of FirstAssist Insurance Services.
FirstAssist Services will continue to deliver a range of health and wellbeing solutions including employee assistance programmes, sickness absence management, rehabilitation and legal advice and employment services as well as international medical assistance to SME's and corporates.
The restructure will also see Tim Ablett step down as group chief executive, although he will remain involved in each of the trading companies as a non executive director
Commenting on the restructure, Ablett said, “Since the management buy out in April 2003, FirstAssist has demonstrated its ability to change as markets have developed. Eighteen months ago we embarked on a change programme to unleash the potential of FirstAssist. The result is that we have transformed ourselves from a division of a major corporate into three focused, flexible and fast-reacting medium-sized businesses each positioned for profitable growth. This will ensure that we are able to provide our customers with great, cost-effective service and genuine commercial advantage in each market.”
