Pru pitch heralds its switch to direct sell

The Prudential has invited four direct marketing agencies to pitch for its existing general insurance services and banking, pensions and mortgage products, in the wake of mass redundancies and office closures.

The Prudential has invited four direct marketing agencies to pitch

for its existing general insurance services and banking, pensions and

mortgage products, in the wake of mass redundancies and office

closures.



The insurance firm announced this week that it is making 300 of its

sales staff redundant and closing 34 of its 113 branches. This will mean

many more of its insurance policies will be sold direct, signalling a

greater investment in direct marketing.



WWAV Rapp Collins North is believed to be one of the four agencies that

have been invited to pitch. It will be going head-to-head against

existing incumbents Barraclough Hall Woolston Grey and Tullo Marshall

Warren, which have been with the Prudential for three years and one year

respectively.



Agencies have been invited to re-pitch for the general insurance

business because the Prudential wants to look at whether it needs to

’refresh its approach’, according to Clare Salmon, marketing

director.



However, a new element in the pitch is the company’s decision to begin

marketing and targeting a wider audience with direct mail for products

such as mortgages and pensions.