“Standing still not an option” as Wesleyan reveals growth plans

BIRMINGHAM insurer Wesleyan Assurance Society today announced plans for “significant investment” in its business as it aims to grow in its chosen customer markets over the next five years. 

Wesleyan – which provides specialist financial advice and solutions for doctors, dentists, lawyers and teachers – is also changing its branding in relation to specialist offerings.
 
Growth will focus on four key areas: increased use of technology, improving and expanding the product range, upskilling staff  and expanding the general Insurance and bank business
 
Bryan Jackson CBE, Wesleyan’s chairman, said: “We have a great relationship with our customers. However their expectations of us are changing in line with the world we live in.

“Ultimately they want more from us and technology will be a driving force to help us grow the business. We firmly believe that we have the potential to grow in our current markets but we must keep pace with the changing times to ensure our business stays strong and relevant to benefit members, customers and staff.
 
“We have a track record of delivering planned, sustained and organic growth.  In 2005 we set out an ambitious ten year plan to grow Wesleyan and we achieved many of our key goals ahead of time. 

“Standing still now is not an option if we are to continue to provide the kind of service our customers want and deserve.”
 
While face-to-face advice will remain at the heart of Wesleyan’s business through its 300 plus sales force, the company says it is currently trialling remote advice to deliver increased convenience for customers.

There are also plans to introduce a new point of sale system and enhanced customer relationship management capability to deliver exceptional customer service. 
 
Craig Errington, Wesleyan’s chief executive said: “Part of the reason for our brand refresh is to ensure we can operate more effectively in the digital environment. 

“However technology on its own won’t be enough. So we will complete a thorough review of our product range to see where we can improve and expand. We want flexible products that can work across our different professional customer groups. 

“To support this we will review our IT systems to improve product capability and distribution.”
 
Following the brand refresh former distribution brand names such as Wesleyan Medical Sickness, Wesleyan for Teachers and Wesleyan for Lawyers will no longer exist.