Bluefin's Elite in run-off to allow greater Platinum focus

A spokesman for the group said that while 44 roles had been put at risk of redundancy, Bluefin hoped to minimize job losses via a number of both new and run-off roles being created by other opportunities that may exist in the wider Axa group.

He added that the move had been designed to improve customer service and operational efficiency.

Platinum is based on the Acturis platform including e-trading capability and a high degree of auto-rating. The insurers partnering Bluefin in the first phase of this new strategy include Axa, Aviva, RSA and Zurich.

The spokesman said: "Elite has served us well for many years but a strategic review established we could serve our customers better and improve our own profitability by enhancing our Platinum product, which is a tried and tested solution for shops, offices, hotels, pubs, restaurant and other SME businesses."

In November 2007, Bluefin, then trading as Venture Preference, boasted that Elite had the potential to more than treble in size from £30m to £100m by the end of 2010 given the potential merged weight of its parent.

When Bluefin launched at the start of 2009, it said it would maintain the Platinum brand it inherited as part of the acquisition of Smart and Cook, but administer the unified businesses through Layton Blackham's long-standing Elite SME business unit.

Launched in 1988 to provide bespoke SME packages, Elite had counted Axa, Aviva, Allianz, Fortis (Ageas), RSA, Hiscox, DAS, Chubb Europe, Zurich and AIG among its underwriters.

Source: Insurance Age – December 2010