Personal Pension  

Friends Life releases client segmentation tool for employers

Friends Life has launched a tool to help employers segment their workforces and more effectively address their various needs.

The Consumer Segmentation Model, already used internally by Friends Life, is now open to all employers.

Built in partnership with marketing solutions provider CACI, the tools is meant to provide more precise insight to employers of their workers’ attitudes towards money. This is ascertained using information about consumers’ home, work, wealth, leisure, media use and thoughts on brands and advertising.

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According to Friends Life, the tool can help employers provide financial education, preparation for retirement, and information on auto-enrolment and return on investment among other topics.

The company claims its tool will also help advisers manage corporate clients.

Neil Hawkins, executive financial education manager at Friends Life, said: “The new model allows employers to focus on identifying and making available the products and services that meet particular employee needs.

“It allows employers to better understand their workforce and design corporate benefits in a targeted, tailored way that drives greater engagement and resonates with their employees.”