Age Concern Financial Partnerships (ACFP) and Norwich Union - the UK's largest insurance company - are to launch a major assault on the long-term care market under its new strategic partnership alliance. The original partnership - which has been running for a year - made considerable inroads into the market to ensure ACFP was at the forefront of people's minds for long term care.
Age Concern Financial Partnerships (ACFP) and Norwich Union - the UK's largest insurance company - are to launch a major assault on the long-term care market under its new strategic partnership alliance. The original partnership - which has been running for a year - made considerable inroads into the market to ensure ACFP was at the forefront of people's minds for long term care.
The assault on the market will combine the extensive expertise and training capability of ACFP together with:
- 6 ACFP Long Term Care Development Managers
- New dedicated streamlined business processes exclusively for LTC
- Technical support team
- Support of Norwich Union's 32 IFA Regional Sales Branches
- Support of almost 300 Norwich Union IFA sales consultants.
However long term care has long been seen by many as a niche product in a market which has been dogged by uncertainty. This new partnership approach - which utilises the full strength of the Norwich Union IFA sales force - will target the whole IFA community with the aim of promoting long term care as a key product offering of an IFAs armoury.
The long-term care market is now at the edge of major development with Government CAT standards and regulation just around the corner. We have also had clarity on the issue of free nursing care in England and Wales, although the situation in Scotland may take a little longer to resolve.
The partnership will continue to develop custom-built IFA training programmes to ensure that IFAs are well placed to capitalise on the LTC market and develop a professional and effective approach with their customers.
Norwich Union LTC Strategy Manager, Sandy Johnstone, said: "The partnership is now well placed to take advantage of what is an increasingly important market for long term care. There are sweeping changes taking place in financial services and the needs of older people will be a key development area for IFAs from now on".
ACFP Director and General Manager Peter Gatenby, said: "The combined expertise of ACFP and the full weight of the Norwich Union IFA sales force will ensure that we continue to grow the Long Term Care market. We will be doing all we can to assist IFAs in ensuring their older clients get the best protection for their future needs"
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Norwich Union Life Services Limited Registered in England No. 2403746 2 Rougier Street York Y090 1UU
Norwich Union Life Services Limited represents only the Norwich Union Marketing Group, members of which are regulated by the Personal Investment Authority and/or IMRO, for life assurance, pensions and investments.
Age Concern Financial Partnerships Limited (ACFP) represents only the Norwich Union Marketing Group, members of which are regulated by the Personal Investment Authority and/or IMRO, for life assurance, pensions and investments.
ACFP is a trading company of Age Concern England and covenants all profits to that registered charity.
ACFP is registered in England and Wales No. 3819694. Registered address: Astral House, 1268 London Road, London SW16 4ER