Aegon has confirmed it plans to shed its sales team by almost a third in a bid to focus on its platform business.
The insurer revealed during an internal meeting yesterday (28 January) that 30 roles in the 100-strong salesforce would be scrapped as part of a major reshuffle of its business.
A spokesman for Aegon said: “We’ve always been very clear that digital is the way forward and that our focus is on growing the business through our platform.
“The platform remains our long term strategic priority and we have implemented a new operating structure to support this. We are focusing our sales team behind the platform and unfortunately a number of roles will go in this process.
“Like any successful business we need to continue to evolve and the changes we’re making will help accelerate our growth.”
Aegon plans to relocate some of the sales staff to other parts of the business.
In November, the insurer announced its UK fee revenues were down 10 per cent to £101m against the third quarter of 2014 due to lower margins.
A further 47,000 new customers were added to the platform in the third quarter of 2015, bringing the total number of customers on the platform to nearly 200,000.
In April last year, chief executive Adrian Grace ruled out further redundancies after cutting 3,000 jobs in a push towards digitalisation of the business.
katherine.denham@ft.com
