Norwich Union Direct has bolstered its relationship with
Barraclough Hall Woolston Gray by picking the agency’s Anthem subsidiary
to handle the below-the-line launch of its Individual Savings
The assignment, awarded after a pitch involving Citigate Albert Frank,
complements Norwich Union’s life and investment business already at
Norwich Union declined to disclose details of the budget - believed to
involve an initial spend of pounds 500,000 - and described the
appointment as a ’natural progression’ of its current marketing campaign
for Peps and pensions.
Anthem’s task will be to promote ISAs to Norwich Union Direct’s existing
database of more than a million customers plus other prospective
ISAs were unveiled by the Chancellor of the Exchequer, Gordon Brown, in
his March Budget as a replacement for Peps from next year.
Their introduction is part of Brown’s plans to encourage long-term
saving by reforming the existing system of tax breaks which he claims is
too elitist and works in favour of wealthier savers while discouraging
ISAs will be sold through financial services companies as well as by
banks and building societies.
Norwich Union Direct is predicting a huge increase in the popularity of
ISAs with about ten million people expected to own them within the next
The company was set up at the end of 1995 as a spin-off from the
insurance giant to offer home and car insurance by phone in competition
with Direct Line.
The ISA initiative is in line with Norwich Union’s plans to diversify
its product range.