The head of Workplace Pensions at Aegon UK, wanted BEI to compare the client value proposition (aimed at employers and members) through a detailed benchmarking exercise across eight of the leading Workplace Pensions offerings in the United Kingdom.
The Workplace Pensions market in the UK is a dynamic, highly competitive market with numerous service providers offering very similar solutions. Aegon UK chose BEI because of our deep understanding of the financial services market and our tried and trusted methodologies and best practice in value proposition benchmarking.
BEI conducted a detailed analysis comparing the Client Value Proposition offered by eight of the leading Workplace Pensions providers in the UK. We compared the various solutions across key areas like service and support (pre- and post- implementation), Investment proposition, Default Fund proposition, Member engagement and communication, Platforms (employer and member), pension dashboards and digital self-help tools, etc.
The analysis enabled BEI to identify key areas where Aegon has a distinct advantage as well as areas of potential risk. This provided Aegon with clear direction on how it could enhance its proposition and leverage key areas of competitive advantage.