Zurich UK Life has launched a robo-guidance service for workplace retirement scheme members.
According to Zurich the service, called FutureYou, aims to give people “interactive and personalised ways of planning their financial futures” and the provider stated it remains committed to being a “strong supporter of intermediaries.”
The new service is a series of digital tools.
As opposed to focusing on pensions in the traditional sense, the tool is supposed to engage customers by helping them picture the kind of future life they would like to lead, such as travelling the world or learning new skills, and what might be required to achieve it.
Additionally, the FutureYou service digitises the process of consolidating pension pots allowing customers to combine savings simply into their existing workplace scheme with Zurich.
On the occasions when people require more support FutureYou will offer a referral to remote, product specific financial advice.
Emma Huntington, managing director of FutureYou, said: “FutureYou will help Zurich’s workplace customers take steps towards the life they want to live, feel better informed and more in control so that they can make the financial choices, big or small, that are right for them, today and in the long run.
“Zurich is a strong supporter of intermediaries, promoting the value of face-to-face financial advice and its benefits.
“However, we also know that there are many people in the UK that do not access this and are not engaged in their financial futures.
Ms Huntington added the last 18 months or so have seen several changes introduced by the government, which have shifted responsibility from the state to the individual.
“We’ve also seen the publication of The Financial Advice Market Review that aims to increase affordable and accessible financial guidance and advice for everyone.
“The development of FutureYou, reflects this growing need for – and desire of – some customers to take control of their future financial well-being, complementing Zurich’s broad proposition and strong presence across the retail intermediary and corporate consultancy sectors.”
Daren O’Brien, director at Aurora Financial Solutions, said: “It is good to see a traditional provider engaging more with their customers.
“This proposition will help those clients who have previously been confused about what they can expect in retirement and a simple, more online interactive approach will be most welcomed.”
ruth.gillbe@ft.com