Norwich Union plans to rebrand its Lifetime wrap proposition in the wake of today's appointment of new managing director Clive Witter.
The new branding is likely to be pitched along the lines of "The Lifetime wrap from Norwich Union". Moves to put a new logo the business's existing website and materials will take place later this year.
Customer research suggests continuing confusion over the Lifetime name and its ultimate owner, while NU says it has knowledge of specific business deals that have not been closed as a result.
The rebranding is intended to bring the NU ownership of Lifetime to the fore, instil more trust on the basis of the signficant brand equity built into the NU name, as well as strengthen the message of using wrap as a new way to do business.
Formerly MD of Dublin-based NU International Limited, Witter replaces ceo Jeremy Bradburne, who will leave after a brief handover period of some weeks.
Witter, who says he takes over a business that is "in an excellent shape", will use this time to polish the scaleable platform objective NU wants to put in place. Business has been running ahead of targets in place earlier this year, which has resulted in targets being adjusted upwards.
A statement from the insurer says: “NU believes the time is now right to bring Lifetime much closer into the company and make it more integrated into its operations".
The goal is to speed up growth of the wrap business, according to Witter, who is quoted saying the platform has made “good inroads into getting advisers signed on….but we want to accelerate this process.”
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