Swinton to axe up to 900 jobs in digital push
UK insurance retailer Swinton Group is reviewing 84 of its branches as it restructures the business to be more digitally focused, which is likely to result in a reductions of around 900 roles by the end of the year.
This reshaping of the company’s business model is in response to changing customer requirements, with 90 percent now buying insurance over the phone or via digital channels.
Swinton is investing £45 million in enhanced IT and digital technology at its new head office and contact centre in Manchester.
The 84 branches that are under review, along with a contact centre in Norwich, have been selected based on a variety of factors including location and customer usage.
The retailer will conduct a formal consultation with all employees impacted by the proposals, and employees will be deployed into other parts of the business where possible.
“We are reshaping our distribution model to ensure that we continue to meet the changing needs of our customers in an effective and efficient way,” said Gilles Normand, chief executive of Swinton. “This change is difficult for all colleagues, especially those who are directly impacted by the proposals, but is vital if we are to remain competitive in a challenging insurance market.”
He continued: “Ever since Swinton started selling insurance door-to-door 60 years ago, this business has always evolved - first via branches, then contact centres and increasingly online. Our approach today, which is based on a high contact strategy, no longer meets our customers’ needs.
“While branches continue to be an important part of our multi-channel business model, we need to ensure that we can interact with customers whenever, and however, they choose.
“It therefore makes sense to continually review how we operate to ensure Swinton remains fit for the future.”
Today’s top stories
SCOR Q1 net income falls due to Ogden rate change
XL Group Q1 income jumps despite greater catastrophe losses
Disruptive Capital buys controlling stake in insurtech REG for US expansion
Qatar Re and Antares drive Q1 growth at Qatar Insurance Company
Willis Towers Watson appoints head of broking Great Britain
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
