Friends Life announced the appointment of Steve Payne as Managing Director for its protection business. In his new role Steve Payne will be responsible for developing and implementing the strategy for Friends Life’s Individual and Group Protection business across all distribution channels.
The newly enlarged Friends Life business recently announced plans to consolidate its individual protection propositions onto a single platform for all new business in a bid to establish a best of breed proposition for the IFA market. This proposition will be built using the platform from the recently acquired life assurance business and will draw on the best elements of the Friends Provident individual protection offering and the heritage protection business acquired from AXA.
Andy Briggs, CEO commented on Steve Payne’s appointment:
“Steve Payne’s new strategic appointment underlines our plans for expansion in the protection market. We are fully focussed on developing a single, compelling protection proposition for IFAs comprising the optimum elements of each of the three historic brands. Steve’s skills and experience will prove invaluable as we complete this process.”
Friends Life recently announced its decision to use a single low cost operating platform for both its Individual and Group Protection new business as it believes this will provide the strongest base for building a best of the best offering to support new and innovative propositions.
Steve Payne said:
“I am tremendously excited to be leading the Friends Life protection business at such a crucial time. We have a hugely compelling offering and the challenge ahead of us is to ensure we develop something truly innovative for the market.”
Source : Friends Life
