Roland Smith
In June 2007, Police Mutual (PMAS)
purchased Roland Smith Insurance Brokers to bring together two key
providers of financial services to the Police Family.
At that time Graham Berville, Chief Executive
of the Police Mutual Group, said of the acquisition: “It would be
difficult to find a better scenario……… Unlike most mergers where
similar companies come together to remove duplication and drive
down costs, here two businesses are coming together to add value.
The product offering, quality of service delivery and relationships
with the Police Family are all set to benefit.”
Enhanced products and service
Since the acquisition, the following benefits
are being felt:
Product offering - the
increased scale of the combined business was put to good effect
when product terms were negotiated with Norwich Union who
underwrite the Group’s new home insurance product. Existing home
insurance customers are now being offered the Norwich Union product
upon renewal.
Quality of service –Customers
are not only benefiting from our new home insurance products that
have been negotiated with our business partner Norwich Union, but
also from the first class service provided by Roland Smith.
Relationships with the Police Family
- Roland Smith has a long-standing relationship with NARPO
and branches of the Police Federation and, since the acquisition,
these relationships are thriving. The joint approach means a wider
range of insurance and educational services can be provided.
Increased Resource
From the outset, the executive of Police
Mutual and Roland Smith reassured employees that staff numbers were
anticipated to increase as a consequence of the acquisition because
the plan for the combined business was one of growth. Extra
positions have already been created at Roland Smith to handle the
additional business from Police Mutual customers.
Staff have been kept fully informed about
the integration, the decisions that need to be made and any
actions taken as a consequence via a fortnightly staff newsletter
which has been positively received by the employees of both
businesses.