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Simplified Advice

Simplified Advice. What is simplified advice?Will consumers value it?Is it commercially viable?Any other ideas?Is this the way to profitably serve more customers?. What is simplified advice?. Holistic Advice. Execution only. Focused Advice. . Basic Advice. . . Non-advised services. Advised services.

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Simplified Advice

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    3. What is simplified advice?

    4. What is simplified advice?

    5. Will consumers value it?

    6. Will consumers value it?

    7. Is it commercially viable? Consumers find the service valuable... But today they don’t see ‘the value’ How will this change post 2012? when the cost of Full Advice becomes very real...

    8. Any other ideas? Expand Basic Advice? “Isn’t simplified advice just basic advice with more flex and wider scope”? Straightforward products - Government announced plans for a range of straightforward products, especially products which will encourage people to save The bought and not sold approach Execution Only - Money Made Clear + Straightforward Products = Free ‘advice’ without the regulatory risks?

    9. Is this the way to profitably serve more customers ? Pilots being conducted ahead of 2012 assess consumer engagement in process and quality of outcomes assess value add and willingness to pay (and preferences) trial alternative approaches – internet, telephone and F2F facilitation Both IFA and Direct models developed internet/phone models showing real potential to add value the interface is key (the ‘App’ not the application)... Encouraging signs...

    10. Peter Jolly Assistant Director, Consumers & Distribution Association of British Insurers peter.jolly@abi.org.uk

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