Motor Insurers’ Bureau to cut 10% of staff

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As part of its transformation programme, the MIB has revealed some changes to its staff base

The Motor Insurers’ Bureau (MIB) has announced that it will be cutting its total number of staff roles by 10%.

The not-for-profit organisation entered a consultation period beginning 8 September with its employees as part of its latest phase of transformation.

The MIB is now working through a “thorough and fair process, listening to and considering alternative suggestions and offering people the best possible support”.

The proposed plans consider the MIB’s commitment to minimise costs due to the financial challenges being faced currently by the insurance industry with the ongoing coronavirus pandemic and the current economic climate.

Jordan Barry, chief people officer said: “Our proposals reflect an important next step in our transformation programme to accelerate our plans to exploit our technology and become a more agile entrepreneurial enterprise that delivers great service to our customers and society.

“Our plans also factor in the significant budget challenges facing insurers following Covid-19.

”We believe we have a responsibility to minimise our costs which influence people’s insurance premiums and adapt to the changing requirements our customers have of us. Our priority now is to support all those affected through the consultation process and beyond.”

It follows the MIB rolling out its new values the same week that lockdown was imposed by the UK government.

Transformation

The MIB’s proposals are expected to be complete by the end of October.

It is part of its ongoing work to reshape the MIB into a progressive, innovative organisation that delivers excellent services, customer experience and value for money for the insurance sector.

In 2018, the industry invested £30m in the MIB to create “a modern, fit-for-purpose organisation”.

The next phase that the MIB is focusing on is making sure it creates the right size organisation with the appropriate structures where high performance is the norm at all levels.