Insurance company Swinton to shut 84 branches and cut 900 jobs

Insurance company Swinton is shutting 84 high street branches and slashing 900 jobs as part of a major restructuring programme launched in response to changing consumer behaviour.

The company in a statement said that 90 per cent of its customers now buy insurance over the phone or online, implying that Swinton is facing the same challenge as high street banks that are increasingly underused amid a rise in online and mobile banking.

Swinton currently has 195 branches across the country.

“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,” chief executive Gilles Normand said in a statement.

“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’ need,” he said.

He added that branches continue to be an important part of the company’s “multi-channel business model” but that Swinton needs to ensure that it can interact with customers “whenever, and however, they choose”.

The company also said that it would be closing a contact centre in Norwich as part of the review.

 

SOURCE:http://www.independent.co.uk/news/business/news/swinton-insurance-company-jobs-900-shut-branches-changing-consumer-behaviour-high-street-a7703961.html

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