UK ICMIF member Engage Mutual, which provides life insurance, health and savings products to half a million customers, has appointed Peter Burrows as chief executive.
The new appointment supports Engage Mutual’s strategy to be a leading customer- owned organization, delivering benefits that go beyond customers’ expectations.
The decision was made by the board of directors following an extensive external selection process to identify the best candidate to lead Engage Mutual on the next stage of its journey. During that time, Peter fulfilled the role of acting CEO.
Announcing the appointment, chairman David Robinson, who led the selection board, said, “Pete combines a thorough understanding of the business with a strong mutual ethos, both of which he has already demonstrated as acting chief executive since the turn of the year. Importantly, he also has the drive and ambition to grow Engage Mutual as a successful, sustainable, customer-owned organization.”
Peter said, “I am thrilled to be given the opportunity to take on the leadership of Engage Mutual at such a pivotal time.
“There is a real opportunity for the mutual business model at the moment, and the organizations that succeed will be those that connect with the wider needs of their customers.
“Engage Mutual faces the same fundamental issues as others in the sector: the [UK] economy is fragile, trust in financial services providers is low, and, quite simply, the products that have been provided to customers in the past will not be enough to meet their needs in the future. Where I believe we differ, however, is that we recognize the need to reinvigorate ourselves to address changing customer needs.
“Every decision we take is in the best interests of our customers. It’s our customers’ money and as a well-capitalized business we can begin to act more ambitiously, making additional wider benefits available to customers and the communities in which they live.”
Peter joined Engage Mutual in 2010 as finance director, adding a range of additional responsibilities to his role before stepping up to lead the organization as acting chief executive when incumbent, Andrew Haigh, stood down in December 2012.