"Health and wellbeing is at the forefront as we want blue-collar workers to fly high"

"Also health and wellbeing is at the forefront in my mind. The construction industry is a tough industry and some of the conditions some people work on take a heavy physical toll. If we can provide a health-related product that encourage operatives at the sharp end to be more aware looking after themselves to do that and to provide them with risk based products that relate to the injuries and risks that are dealt with on construction sites."

Mr McCormack does not believe that being in such a niche market is a restriction. In fact, it is a blessing.

He said: "B&CE has a great opportunity in a very large segment. At a time when perhaps the mainstream financial services brands for one reason or another are viewed with suspicion, but protection is one of the fundamental needs of our market.

"It is pretty tough on a construction site, and operatives are exposed to real risks and hazards, and the mainstream financial services industry does not really like that risk. But the needs are very real.

"Take income protection for example, most providers are reluctant to underwrite blue-collar clients, the rates would be substantially higher."

Mr McCormack – who openly admits he tackles challenges in an unconventional but lateral way – continued: "The current range on offer are prohibitively expensive, so if I can find a way of simplifying that product and providing a provider will take a realistic view of that segment, I will be serving our customers very well.

"One of things I am looking at is that the provision is sensibly, competitively priced, easy to understand income protection for construction operatives because there is a very real need."

He added: "It is a big challenge but different from anything else I have done and utilises all my experience of change, product innovation and marketing as well as channelling a passion for delivering a relevant proposition to the customer."

Girlie Garduce is senior features writer of Financial Adviser

Eugene McCormack CV

1972: Underwriter, Manufacturers Life

1975-80: Agency manager, City of Westminster Insurance

1980-86: Sales and marketing manager, Premium Life

1986-88: General manager and director, Irish Life

1988-93: Marketing director, Cannon Lincoln

1993-95: Managing director, Excel Financial

1995-98: General manager sales and marketing, Europ Assistance

1998-99: Head of product marketing and development, Barclays Life

1999-2005: Director of marketing, Unum Provident

2007-present: Head of sales and marketing, B&CE