The new operational model will see greater cohesion in its distribution strategy
Norwich Union Insurance announced sweeping changes to its operating structure this week in moves that it claimed would streamline the business and ultimately improve the service to brokers.
The changes will see RAC become further integrated into the NUI business and bring the management of its distribution channels under the control of a single director, John Kitson.
Over the coming weeks the change to the operational structure will be filtered down throughout the organisation, with job cuts likely.
NU says the changes are not simply about cost cutting but will have a positive impact on its service and products.
Igal Mayer, NU Insurance chief executive, says it will enable the insurer to simplify its products and streamline its service. “We want to make sure we are offering the right products at the right price and getting them to market via the best channel,” he says.
What will this mean in practice?
Kitson, the new sales and marketing director, says bringing NU’s channels under one umbrella will lead to greater “cohesion” between the channels.
Will this mean an end to situations, occasionally complained of by brokers, of NU’s direct arm undercutting its broker channel?
“It will mean fewer anomalies,” Kitson says.
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