With every area of their marketplace being disrupted, UK Life, Pensions & Investments (LP&I) providers are reassessing distribution arrangements, changing product propositions and targeting operational excellence across their operations.
These are all core priorities, but they come second place to ensuring an in-depth understanding of each consumer segment, identifying where long-term value can be generated in each one, and developing the capabilities that will be needed to achieve this goal. LP&I providers that fail to address this priority will risk being sidelined as ‘financial utilities’ and/or becoming increasingly disconnected from customer needs.
This study identifies what Accenture believes to be the key forces of disruption in the UK Life, Pensions & Investments market over the next 10 years. It helps providers navigate their journeys towards becoming the progressive providers of the future.