Our five strategic imperatives* are applied across all business units. The following illustrates them in action in the Savings division.
(Download XLS:)  |
|
Imperative |
Activity | ||
|---|---|---|---|
| |||
|
Financial Management |
Significant costs have been taken out of the business, commissions reduced and products re-designed to reduce strain of writing new business. | ||
|
Diversified Business |
Transformation of the mix of products sold with increased focus on retail investments and Self Invested Personal Pension (SIPP) products. | ||
|
High Quality Products, Broad Distribution |
Savings products distributed to individuals and companies via a broad range of bank and building society partners, IFAs and direct to consumer. | ||
|
A Positive Customer Experience |
Charging structures of some products changed to reward and encourage customer loyalty, aligning what is best for the customer and the business. | ||
|
High Expectation Culture |
Several awards won in 2009 including Group [SIPP] provider of the year. | ||
FOCUS ON WORKPLACE SAVINGS
In the corporate market our WorkSave platform, which combines Group SIPP and our new Group [ISA], appeals to employers looking to establish holistic savings opportunities for their employees. Major [FTSE] companies including First Group, Morrisons and BG Group took advantage of this offering in 2009.
Workplace Savings won two awards at the 2009 Pensions Management Technology, Administration and Service awards (TAS) – Group SIPP provider of the year and Group Pensions provider of the year as well as Group [SIPP] Provider at the Pension & Investment Provider Awards.
