A perfect storm is in full swing in the Life and Pensions sector
– and, gladly, I don't mean this winter's extreme
weather.
This storm is virtual (literally), formed over the last couple
of years by the regulator changing the rules of the game (RDR,
Pension Reform), individuals increasingly expecting new ways of
engaging with financial institutions and technology advancements
making it all possible. The timing is perfect as the UK economy
gathers momentum, putting growth firmly on the corporate
agenda.
Educated over a number of years by the banks to do their banking
online, consumers in the UK have seen further empowerment in the
last couple of years. The range of financial interactions online is
growing, with platforms supporting do-it-yourself and advised
savings and investments; and offering online services almost
certainly means via smartphone and tablet as well as a PC.
