As part of the Association of
British Insurers (ABI) research into customers'
understanding of the new Open Market Option (OMO)
"Wake Up" Packs, we would like to share with you
our findings which the ABI has recently published.
The research sought to understand
several key points amongst
customers:
- Determine the clarity and
understanding of the OMO and whether customers
understand its benefits
- Establish the impact of the
'wake up' pack on understanding of annuities and
consideration of the OMO
- Identify whether the pack has
helped customers understand how and where to
access financial advice
We were also asked to explore the
following areas:
- Identify levels of readership
and usage
- Establish reasons why customers
have not read the pack in detail
- Test understanding/clarity of
specific aspects of the packs contents
Based on recommendations and
recent guidelines from the ABI, pension providers
should have updated their new pre-retirement OMO
literature.
We worked in partnership with
our sister company Quaestor Finance on
this project, which you'll see uncovered
some interesting findings, click on the report below to read
more.
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| ABI Report into
pre-retirement "wake-up" packs |
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ABI's published
report showcasing AIA's research
findings
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If you would like
to find out more about any of the information in
this report, or talk about how we could help you,
please do not hesitate to contact
me.
I look forward to
hearing from you.
Ian
Sparham
Director
Andrew Irving
Associates
T: +44
(0)20 8444 5678
F: +44 (0)20 8444
9221
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