Aegon is set to tell investors and analysts that it aims to double the percentage of sales it makes directly to customers (D2C) to about a third by 2015, according to reports.
Aegon chief executive Alex Wynaendts is set to tell investors and analysts at a conference today that the company plans to double its D2C sales as part of a wider strategy to reduce complexity, according to the Financial Times.
The company aims to do this by accelerating its investment in technology and better leveraging local initiatives across the business.
Wynaendts will go on to say that sales of complex products have created a "sense of a lack of credibility in the sector" and that customers need more simple and transparent products.
Speaking at the opening of a two-day conference in London, Wynaendts will also present plans to strengthen Aegon's position in the ‘at-retirement' market in North America, the Netherlands and the UK.
The Netherlands-based insurer has been working to regain investors' trust after taking a €3bn government capital injection from the Dutch government at the height of the crisis in 2008.
Despite the pledge to increase its direct to consumer market, Aegon has reiterated its commitment to the advice distribution channel. It said in a statement: "We remain absolutely committed to the advice distribution channel in the UK, we are looking at opportunities where we can reach customers who would not necessarily be served through the traditional advice market.
"This will include partnerships with banks, such as the Barclays Business Protection deal we announced last week."
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View from the front row
Retirement Planner Forum 2019