On Monday 1 June, Norwich Union, the UK's largest insurer will complete its planned name change to Aviva as part of the group's strategy to grow and transform as it competes globally.
The international savings, investments and insurance group already trades as Aviva in most of its 28 markets across Europe, North America and Asia Pacific and the change in the UK is a key part of Aviva's strategy of uniting the business behind a worldwide brand.
Aviva has grown from the merger of a number of businesses to become the fifth largest insurer in the world providing savings, investments and insurance to around 50 million customers.
Today's change is part of the transformation set out by Andrew Moss, chief executive, in October 2007 in the "One Aviva, twice the value" vision, which aims to maximise the company's full potential as a global group. A consistent, recognisable name and branding across its markets around the world is an important part of Aviva's strategy to succeed in an increasingly competitive and global marketplace.
For Norwich Union customers, becoming Aviva is not just about a name change, it is also about being part of a company which is transforming itself to meet the needs of its customers. As part of a global company, Aviva customers in the UK will benefit from the group's experience and expertise around the world, bringing improved products and services in the future.
Aviva customers will also be able to log on to the newly launched website www.aviva.co.uk/, which brings significantly improved capabilities allowing customers to check prices against competitors to ensure they are getting the best deal for their insurance, and to manage, change and renew their policies online. A new market leading pension tracker system also gives new customers and advisers instant online access to their pensions. These new services are among the many changes Aviva is implementing to make life easier for its customers.
Aviva is now ranked as the fourth most valuable insurance brand in the world and in the UK the name change advertising campaign has proved highly effective; public awareness of the name change sooared to around 80% following the initial burst of advertising and has remained high. Reduced levels of advertising because of the current economic climate mean that Aviva has been able to advertise at lower costs, achieve greater cut-through and has benefited from extra exposure, for example, when posters have remained on billboards after the paid-for booking has ended.
Andrew Moss said: "This is a key moment for Aviva. Over the past two years we have been working hard to bring Aviva businesses around the world closer together to maximise our full potential and to build the new Aviva around the needs of our customers. For our 54,000 staff across the world we're bringing them together as one team under a common identity and together we are totally committed to making sure our move to a global brand brings many positive changes for our customers.
"Aviva's trusted brand is one of our most valuable assets, particularly in the current economic environment when customers are looking for solid financial companies to save and invest with. Now is the right time to invest in our brand so that it adequately reflects the improvements we're making in the service we give to our customers."
Outside the UK, Aviva's businesses in Ireland and Poland will complete the name change to Aviva in 2010.