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Companies considering corporate wrap prospects

The corporate wrap sector looks set to flourish, according to Axa Distribution Services.

Axa DS director of marketing and distribution Martin Jennings says corporate wraps are not far from being a reality. He says: “Current market offerings have the majority of functionality required to deliver huge benefits for both employers and employees. Within a short per- iod of time and a modest amount of development, I believe you will see an array of new corporate platforms.”

Novia chief executive Bill Vasilieff says a number of companies are already assessing this area.

Money Marketing revealed last month that Friends Provident is looking at launching an employee benefits wrap proposition after conducting research with potential members on developments in the corporate platform space.

Vasilieff says: “I think others are looking at the corporate space as an unexploited market, including current players in group pensions because this is their traditional space.”

But Transact head of marketing Malcolm Murray says: “While it behoves all operators to constantly look at new markets, some cynics might say they would be better off concentrating on making their current offerings more successful.”

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