CommInsure has announced a restructure to its life insurance business that will see it re-organised into a ‘line of business’ approach for its four business units.
The insurer advises its new structure will bring together the product, distribution and support teams for each its businesses ‘… to better serve the needs of our customers and advisers.”
The four businesses are:
- Retail Advice
- Wholesale Life
- Super and Investments
- Direct Life
CommInsure details three benefits for its key stakeholders by moving to this model:
- To further focus on its adviser and customer segments
- To develop more compelling strategies and targeted offerings for each of the four business
- To be more effective at delivering on these plans and customer service promises
The key appointment announced to date, particularly from a life insurance industry perspective, has been that of Tim Browne, currently Head of Advice Delivery at Colonial First State, to the newly-created role of General Manager, Retail Advice.
The new Retail Advice business unit will comprise CommInsure’s:
- Retail risk products range
- Advice distribution team
- Technical, sales, strategy, relationship and training services to advisers and dealer groups
Other General Management appointees to date are:
- Greg Ballard: General Manager – Superannuation and Investments
- Gareth Newton: General Manager – Direct Life
CommInsure advises the position of General Manager for Wholesale Life is to be announced shortly.
Transition to the new structure will be taking place immediately, with the reorganisation to become effective from 1 July 2010.
