Pensions

At Retirement – "Will I die poor?"

A world of change and challenge for the insurance industry – international and domestic regulations, the digital and data agenda, disruptors, enforced changes to distribution, technology and of course Brexit to name a few. But the customer needs are unchanged, they remain critically important and simply articulated –to pay for life (by securing enough wealth to ensure purchases can be made and later life funded) and to be protected against the uncertainties of life.

Insurers who close the gap between today’s customer expectations and the customer experience they deliver (where our research shows Retail banks have stolen a march on insurers) can expect more customer loyalty.  There is the potential to become the provider of choice for a customer for a range of financial products over a significant length of time if you can become a trusted consumer brand.

Easy to say, hard to deliver, requiring a combination of a clear strategic direction, the right product suite and crucially the right engagement with each customer as a valued individual –which in turn demands better customer analytics to facilitate segmentation and understand behaviours and a strong multi-channel capability. Part of solving this puzzle requires the right product solution, designed around the needs of the customer, simple to use but providing all the services they need and expect. 

Product Insights – At Retirement addresses research findings including the questions:

  • What is a sustainable level of drawdown?
  • What is the impact of charges?
  • Is drawdown too risky for some?
  • How does a capital guarantee impact sequencing risk?
Download the product insight
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