View more on these topics

NU chief makes admin top task

Norwich Union UK chief executive Gary Withers says improving service levels is his number one priority because the weakness of its admin is losing it business.

Despite NU’s leading 12 per cent share of the life and pension market, Withers is concerned that the firm’s brand integrity is being und- ermined by a perception that its admin systems are poor.

In an interview with Money Marketing editor John Lappin which is due to be screened at Money Marketing Live at Olympia, Lon- don next week on May 5, Withers also says he does not expect multi-ties to make a big impact this year but that over time there will be a more significant move.

He says: “We have got to improve our service. I know that we are not writing as much business as we could because people can be frustrated by the time it takes and the quality of our service. We are putting extra investment into that and it is my number one priority.”

“I think the end projections which suggested that quite a few people may go multi-tied are still right. but it is something that people will take their time over, consider it and move to gradually. We are happy to work with existing structures, happy to support multi-tie structures and let the market decide.”

Withers adds that the recruitment of Katherine Gar-rett-Cox is a measure aimed at trying to boost Norwich Union’s fund management arm Morley and points to the strong performance of Morley’s property and fixed-interest investments.

Recommended

Standard launches another technology guide

Standard Life has launched a free booklet focusing on technology tools to help adviser firms discover the advantages of online planning tools and calculators.The booklet is the fourth in a series of seven free adviser booklets entitled The easy technology guides, designed to give advisers a complete reference library of advice on all aspects of […]

Mortgage Express joins the Exchange

Mortgage Express is now available on the Exweb equity release trading platform.Using the equity release trading platform, financial intermediaries can now research, quote and source equity release products from a total of 11 lenders. Figures from the Council of Mortgage Lenders show equity release mortgages newly advanced in 2004 totaled 1.2 bn, up 10 per […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment