Restructure to Increase Focus on Broker and Customer
Towergate Partnership has unveiled plans to shape the
company for future client and broker service.
At the heart of these moves is a restructure to reflect
Towergate's two main core areas of strength: underwriting and
The new underwriting and broking operations will have separate
management structures headed by Divisional Chief Executives, Clive
Nathan and Amanda Blanc, who will report to the Group Chief
Executive, Andy Homer.
Both Clive and Amanda will also join the Board of Towergate
Underwriting Group Ltd. (the regulated company) subject to FSA
The Underwriting Division, headed by Clive Nathan, will have
centres of underwriting excellence, which complete the underwriting
and pricing for a wide range of product areas including Property,
Liability, Motor, Household, Financial Risks, Marine, Property
Owners, Construction and Agricultural.
Over half of Towergate’s business currently emanates from
third-party brokers and the new division will give brokers a clear
route to the right underwriters and products, as well as 'Package'
commercial business in the 'VSME' sector.
Fusion will maintain its separate identity as a market-leading
underwriter for medium commercial combined risks.
The Retail Broking Division, headed by Amanda Blanc, will
comprise the Towergate regional brokers grouped into three regions
– North, Central and South.
Andy Homer said: “Our strategy has been consistent for many
years - we create great value for both customers and insurers
through our expertise and delivering great service and great
"Our latest moves are designed to focus our underwriting and
broking skills into separate divisions, so that it is clear to our
customers and our supporting brokers what our service proposition
"To give great service needs absolute focus and this restructure
achieves exactly that.
"I have no doubt that our virtual insurer model is one that many
others will try to copy over the next couple of years".
Peter Cullum said: "The restructure is about playing to people’s
strengths to deliver first class and service.
"It also keeps us ahead of the game in respect of transparency
and FSA compliance in line with the requirements for Treating
"What it is not about is cost saving – we have created a number
of vacancies and we will be recruiting some of the best talent in
the Industry over the next few months.
"Our goal to reach £2bn of GWP in 2006 is on track and we are
now setting our sights to get to £3bn by the end of 2007. These
changes provide us with a strong operating platform to accomplish