Former NU distribution director linked to RAC product development job

Sources have linked Tim Rolfe, former Norwich Union director of distribution development, to a key position at the RAC.

RAC is looking to recruit a new director of product development for its financial services division as it seeks to build on its recent purchase of AXA Direct.

But RAC Financial Services managing director Nick Hall declined to comment on any discussions with Rolfe.

The position is a key part of a strategy designed to grow the business from 300,000 to 500,000 policies over the next five years.

Hall said the business had several developments planned for 2005.

"A lot of this year has been spent quietly trying things out. You will see some new things in advertising in the New Year," he said.

Among its new initiatives, RAC is planning to cross-sell its insurance products to breakdown customers as well as using direct sales to grow the book.

Hall said: "We have an established breakdown business with a huge database, which allows us to do some very sophisticated marketing.

"We have a number of options, including targeting customers.

"People say motor insurance is all done on price, but there is an element of service. If you have a good experience on the phone that makes a huge amount of difference."

RAC has also recently expanded its panel from 17 to 22 insurers as it seeks to integrate the AXA business into its portfolio.

Hall said: "The volume we now have allows us the flexibility to grow the business more rapidly."

He added: "It also enables us to have an investment strategy that we feel comfortable with. The deal has freed up the RAC and means we don't have to work with a business partner any more."