News analysis: Why are brokers offshoring to South Africa?

South Africa flag

Complete Cover recently became the latest personal lines broker to offshore some of its operations to South Africa. Saxon East explores the attraction for intermediaries in outsourcing to a country over 6000 miles away from the UK

These are tough times for personal lines brokers.

First came the Covid-pandemic, knocking sales as motorists went into lockdown.

Then the Financial Conduct Authority hit them with a demand for fair value on products, with lucrative premium finance set to take a big hit (see pages 6 to 10).

Amid this storm, one broker thinks it has the answer.

As revealed by Insurance Age, Complete Cover Group is making a ‘significant reduction’ in the UK workforce with a chunk of customer-facing activities

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