View more on these topics

Bupa axes 150 HCAS staff and revamps role of force

Bupa is slashing the size of its commission-only private medical insurance salesforce by nearly half in the latest round of cutbacks at the health- care giant.

Bupa&#39s Health Care Adviser Service is cutting 150 of its 330 staff selling personal PMI cover. It will also make 18 area sales managers redundant.

This is the second major cutback to Bupa&#39s salesforce in three months.

It slashed its long-term-care salesforce by over 50 per cent to 24 from 61 in November, blaming a disappointing demand for products and delays to Government legislation.

Bupa will set up a 180-strong team from the "most-experienced" of the remain- ing HCAS sales staff to work alongside its salaried salesforce, direct telesales arm and intermediary salesforce.

Sales director Andrew Briscoe says: "This move reflects the increasing demand from our customers for access to our services through a wide range of distribution channels and with the highest standard of advice.

"The 180 advisers are our most highly skilled and highly trained sales professionals and we want to focus our efforts on supporting them and our other personal sector distribution channels better while at the same time being more cost-effective.

"Redundancies are always regrettable but these chan ges are necessary so that we can serve our customers better.

"This refocusing of HCAS completes the changes that we needed to make to our distribution channels to meet the needs of our customers."

Bupa says it is discussing "alternative employment" with those affected by the cuts.


The PIC of the bunch?

One of the greatest challenges facing the UK as the millennium approaches is support for its ageing population. It is already becoming clear that ensuring that individuals are self-sufficient in retirement is high on the Government&#39s agenda. Consumer surveys still show a worrying lack of knowledge regarding the question of post-retirement provision and, more worryingly, […]

Northern Rock cuts standard loan rate

Northern Rock is reducing its standard mortgage base rate by 0.2 per cent to 8.5 per cent for new borrowers this month. It will come into effect for existing borrowers on April 1, provided that UK base rates are not increased next month.

Fidelity merges income funds

Fidelity Investments is merging its £23m Strategic income fund with its high-income fund to create a £221m unit trust. The Strategic fund has an 80-20 mix of bonds to equities but has not attracted a lot of investor demand in the low-inflation environment. The merged fund will have a 50-50 balance.

Scottish Mutual has restored faith

As an alternative to the general carping and complaints directed at the insurance industry, may I, by way of a change, congratulate and compliment Scottish Mutual for a recent experience which underlines what I was taught when I first started in sales 40 years ago, which is that justified complaints should be welcomed as they […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm