London, 12 November, 2001, Zurich Financial Services has made several key changes as it implements plans to integrate its various life businesses into a single unit. The reorganisation will enable Zurich to offer customers more effective and innovative services and solutions.
Individual brand marketing divisions and product development units within the organisation have been reorganised to eliminate duplication and increase the strategic focus on customers. There is now one specialist team for each 'lifestyle' area covering brands like Zurich Life, Eagle Star and Allied Dunbar. This is expected to result in 20-30 redundancies in Zurich's Swindon and Cheltenham offices. These redundancies are part of a larger re-organisation programme announced in April.
A customer strategy and segmentation team has been created to ensure a more holistic approach to customers' present and future needs, with a remit to take a broad and forward looking view.
Rodney Cook, Customer Solutions Director said:"This is about reshaping our business to better meet customer needs, rather than focusing on just product and distribution channels. I want our people to start thinking outside the box and to stop thinking about simply enhancing or improving current products already on the shelf. The modern world is not about narrow 'products' that fulfil one need only. For instance, we will consider all the needs customers will have in retirement: somewhere to live, nursing care if needed and the money to pay for it - not just pensions or annuities that answer only part of the retirement need. We will be making extensive use of customer research and attitudinal segmentation to better understand people's current and future requirements. Armed with knowledge of people's aspirations or needs, we will be in a better position to develop innovative ways of meeting our customers' needs."
These will be developed by a new 'solutions' development team that includes specialists focusing on wealth creation, in-retirement solutions and lending and protection solutions. And further strategic alliances will also be key to providing more innovative services and solutions going forward. "So if we can't meet our customers' needs through our own products and services, we will find the right partner who can help us maximise our relationship with our customers," said Rodney Cook.
Customers will also begin to see other changes in the way Zurich deals with them. A new client management system which covers all Zurich's life brands: Eagle Star, Zurich Life, Allied Dunbar and Sterling - will ensure an improved service for customers, particularly those who have relationships with more than one brand.
"These changes are some of the first moves that will take Zurich's life business towards our vision. We aim to set the standards that others will aspire to, however, we recognise that there is still a long way to go before we can meet our goal of totally reshaping the way financial services are delivered in the UK," said Rodney.
Notes to editors
Zurich's Customer Solutions comprises:
Customer Solutions Director, Rodney Cook
Solutions Development Director, Kevin Ronaldson
Customer Strategy and Segmentation Director, Arvind Malhotra.
18 April 2001, Zurich Financial Services announced a programme to reduce operating expenses in the UK Life Businesses by an annualised £65 million per annum. The 20-30 redundancies announced today are part of the overall 170 redundancies expected as part of the overall programme.
