Life and pensions providers need fully integrated digital operations, says Atos

Life and pensions providers need fully integrated digital operations, says Atos

Life and pensions providers need to achieve fully integrated digital operations to enable pension and investment plan holders to interact with them easily via their channel of choice, according to a whitepaper from IT company Atos

The whitepaper, Digital Vision for Life and Pensions, predicts “an exciting future for the supply side of the life and pensions industry”, which Atos has dubbed ‘Life and Pensions 3.0’.

Atos UK and Ireland financial services leads Chris Darlington and Michael Davison explained that “where 1.0 focused on lifting and shifting high-volume workloads for immediate cost-benefit without process transformation, 2.0 was about moving to new platforms with only limited transformation”.

“What distinguishes Life and Pensions 3.0 is that it is fundamentally customer-centric and digitally enabled. These are the twin drivers for real transformation for product providers, members, trustees and independent financial advisors alike. And Life and Pensions 3.0 has arrived.”

Full realisation of  ‘Life and Pensions’ requires “innovative approaches to operational excellence and employee engagement, always with customers at the heart and all powered by new, best-of-breed technology platforms”.

“Enabling end-customers to communicate and transact through their channel of choice increases use of digital self-service methods,” they continued.

The Atos whitepaper is well worth a read, as it illustrates how and where life and pensions providers and their fintech partners need to innovate in order to open up access and substantially increase assets under management across Europe.

It’s also worth taking a look at the Pensions Tech Award, which will form a central part of the UK FinTech Awards in 2020. The deadline for entries is 24 January 2020. The event is taking place on 2 April 2020 in London.

To enter the Pensions Tech Award, provide a 250 to 1,000 word written submission, focusing on the following points:

  • Provide an overview of the product or service, detailing how its aims, capabilities, marketing and delivery met customer needs and requirements, as well as any background that may be relevant
  • Explain your product/service’s potential and how it can achieve critical mass
  • Outline its unique selling points and what differentiates it from the competition
  • Highlight any inventive or innovative aspects that have been developed to bring the product or service to market
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