Brokers reacted angrily to AXA's proposed broker segmentation system for its personal lines business.
Manor Insurance head Ian Mantel said the segmentation was a "waste of time, effort and money" ...
Brokers reacted angrily to AXA's proposed broker segmentation system for its personal lines business.
Manor Insurance head Ian Mantel said the segmentation was a "waste of time, effort and money" and that AXA needed to look at the service it gave to brokers.
"This move shows brokers what AXA really thinks of them," he said.
AXA acting personal lines intermediaries development manager Kate Mutter confirmed the insurer was refocusing its energy on its personal lines intermediary business and redefining the way it operates.
"We need to look at the way we operate from the front end to fulfilment," she said. "Intermediaries have been involved in the discussions and AXA is evolving the procedure with them."
She said the process would be emulating the commercial lines broker segmentation, which she said was "successful".
Mutter confirmed that in the next few weeks, a team would be launched to run the new strategy. This new team will concentrate on personal lines intermediary distribution.
She said the team would focus on the top 60 brokers in personal lines for AXA and meet their needs, but would continue to work with other brokers. She could not confirm if this would constitute the highest broker class in the segmentation.
An industry source said that ideas for segmentation were still being formed and the proposal would be for four or five segments of brokers.
These would include a premier class, a commercial broker class for brokers who do commercial as well as personal lines business, niche segments and other smaller classifications.
Mutter said the changes were, "not about rejecting but about how we can work with brokers".
