UK-based Swinton Insurance is planning to close 84 branches and cut nearly 900 jobs as part of a restructuring program.
A call centre located in Norwich is also included in the company's review process.
Swinton Insurance has blamed the rise of online buying for affecting its business, as reported by the BBC.
The insurance broker, which is said to have more branches than its counterparts, says that a majority of its customers are now buying policies by phone or through digital channels.
The job cuts are expected to be implemented throughout the country by the year end.
Swinton CEO Gilles Normand said: "We are reshaping our distribution model to ensure that we continue to meet the changing needs of our customers in an effective and efficient way.
"This change is difficult for all colleagues, especially those who are directly impacted by the proposals, but is vital if we are to remain competitive in a challenging insurance market."
To match to the varying buying habits of its customers, Swinton Insurance will be improving its IT and digital technology at its new main office as well as a call centre in Manchester with an investment of £45m, as reported by ITV News.
Swinton Insurance is reportedly set to initiate a formal consultation with all the potentially impacted employees including the 180 plus people working at the Rosary Road-located call centre in Norwich which is likely to face the brunt of the restructuring move.
The affected staff according to Swinton Insurance will be moved into other divisions of the business wherever possible.
Image: A Swinton Insurance branch in Headingley, Leeds. Photo: courtesy of Mtaylor848/Wikipedia.org.