Jobs to go when insurer integrates broker, direct and affinity channels

Allianz Cornhill is to restructure its personal lines business by integrating its broker, direct and affinity sections.

The changes could result in up to 20 job losses across the 500-strong section, according to chief executive Andrew Torrance.

He said: "It is clear there will be a diminution of jobs in the new structure."

The change will see service-related activity concentrated in Bristol with credit management taking place in Leeds.

Personal lines general manager Ruediger Schaefer said: "There is no pure broker, affinity and direct channel anymore. Each one shares methods so it doesn't make any sense to separate these distribution channels anymore."

Allianz Cornhill had not set specific targets for the new business arm as these were counter productive to encouraging profitable growth, Torrance said.

He said: "We have a good business here that puts profits first and growth second. Both (broker and direct) businesses have been trading very profitably for three years. What we are looking for here is driving the business forward in line with our philosophy of sustainable development."

The company said it expected three main outcomes from the change: a broader product range,;more competitive products from scale economies; and access to a broader range of marketing skills.