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Blockchain in a Day: Introduction to APG, the Largest Pension Service Provider

Learn about APG, the largest pension service provider in the Netherlands and one of the largest in the world, and explore the challenges and innovations in the pension industry, including blockchain technology.

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Blockchain in a Day: Introduction to APG, the Largest Pension Service Provider

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  1. Blockchain in a day

  2. Introduction The largestpension service provider in the Netherlands andone of thelargest in theworld. Hidde Terpoorten APG Blockchain Lead Background Bsc Industrial Engineering Msc Financial Engineering Certified Financial Risk Manager ContactMail: hidde.terpoorten@apg.nlPhone: 0031 (0)6 53 41 97 16 APG manages the pension assets of around 4.5 million Dutch citizens for its clients. We perform a responsible task for one in every five families. APG invests 450 billion euros for pension funds with the greatest possible care. 3200 people working in offices in New York, Amsterdam, Heerlen, Brussels and Hongkong. Founding father and key partner of Brightlands Smart Services Campus and Techruption Community.

  3. Challenges in the pension industry Pension challenges New Pension Contract Individuals vs communities Flexible careers and personal agency Owner-ship Longevity PUO challenges Culture Legacy systems Control Cost & Investments

  4. Innovationchallenges Can we provide new relevant and personal services Can we lower costs for the participant Can we create a more agile and flexible business(culture) to withstand external pressures. Can we leverage new technologies like blockchain and AI

  5. InnovationOrganisation APG-GroeiFabriek The Lab The Ecosystem Experiments Partnerships

  6. How we experiment Scale-in Scale-out Createyourownstart-up Implementation in theexisting business Horizon I Incremental improvement Business implementation Incremental improvement Horizon II Experiment (Concepting & prototyping) Explore (Discovery) Execute (Delivery) After every stage its possible to stop the experiment and gather the lessons learned Implementation in the existing business Idea generation Horizon III Observe

  7. Ecosystem Other TonChain Emodash ForeSight Stockbot Pefin Panoptes Talent Story BLIEP Virtual snr Agent Kandoor SSIF SAM PI Energy neutral housing BlueZones Durable buildings Marcy Self sufficient community NBQ NestEgg Techruptioin Consortium Blockchain Net.js RetireMe

  8. Blockchain for pensions Blockchain providesthetechnologytotransactvalue, information, business logic, governance, assets andcosts in anefficientand secure way, without theneedfor a central party Blockchain enables collaboration, without losing autonomy

  9. The future of pensions Asset Management Low costinfrastructure, smart personal pensions, tokenizedinvestments Low cost pension infastructure Personal pension contracts Tokenizedinvestments 1 2 3 Customer 3 Pension fund 2 Pension ‘smart contract’ Pension service provider Employers Auditors Pension Infrastructure 1 Pension funds Authorities Supervisor

  10. The future of pensions Pieces of thepuzzle FL!P NestEgg BLIEP Customer Net.Js Ton Chain Retire Me Pension service provider SSI WOD PI

  11. The future of pensionsBeginningwiththefundation, PI buildsthe Pension Infrastructure

  12. Animation https://vimeo.com/253774398

  13. Via experiments & pilots we reduce uncertainty Option 1 PPF APG showcase Option 2 New pension contract Option 3 Personal pension proposition 2018 2016 2017

  14. Multiple uncertainties in blockchain development Blockchain technology is new and immature. Scalability, interoperability and standardization are major challenges Current governance and legal frameworks don’t match with characteristics of blockchain technology. Ecosystem approach to create mutual value is a different paradigm. Using blockchain technology impacts business models, operations and value streams. Technology maturity Governance & Legal Ecosystem Business model

  15. Illustration of blockchain ecosystem Forreign Citizens Asset Manager Financial Service Provider (Bank) Pension Fund (PPF, PZFW) Full Node Citizen Admin Access Light Node BRP SVB APG, PGGMPension Service Provider External Application UWV DNB AFM Participants(current mijnomgeving) Client Application DNB PensioenRegister BRP AFM Blockchain Network Small Pension Service Provider Pension Service Provider Access Belastingdienst Small Pension Service Provider Blockchain Network APG Pensioen Register Work Admin Client Access Raet Employers Big Employer ADP Employers Small Work Admin 1 UWV Small Work Admin 2 Employers Citizen Admin Access Employer

  16. 16 Questions?

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