UK’S CHURCHILL IN FIVE-YEAR DEAL WITH AMP UNIT

UK-based direct writer Churchill has entered a five-year agreement with AMP of Australia to become the insurance provider for AMP’s UK general insurance operation Pearl, IFD ’s sister publication Retail Finance Direct reports today. Churchill is to take over the administration and underwriting of Pearl’s existing policies and new business. Pearl currently holds 400,000 home, 70,000 car and 35,000 commercial insurance policies. The Pearl brand will be retained by AMP and Pearl will distribute Churchill-underwritten products through its various channels, including a telesales centre in Peterborough and a direct sales force of 600. Pearl’s call centre staff of 420 will be transferred to Churchill. Churchill also has a centre in Peterborough and said that the agreement would significantly expand this operation. The product range offered by Pearl includes home, motor, travel, personal accident, mortgage protection and small business commercial insurance. AMP said that Pearl customers would benefit from an enhanced product range and servicing through the arrangement with Churchill. AMP added that the deal enabled it to concentrate on distribution and customer management, and allowed it to operate from a lower cost base and utilise Churchill’s systems and claims handling skills.