We won! Day 2 of the Pensions Dashboard Tech Sprint
By Shaun Gomm | 13/04/2017
We're coming to you from day 2 of the pensions dashboard TechSprint at Aviva's digital garage. Today, each of the teams has presented their ideas and their prototypes to the whole room, and to the judging panel.
We've been assessed on consumer focus, innovation and the level of technical completeness of our solution. Our concept tries to put the consumer at the heart of the approach. We don't think that is very intuitive, or user friendly, to present pensions data by provider, as people don't necessarily recognise the name of their provider or the associated technical details. Instead, we've presented a personalised view of an individual's pension data as a career or life timeline. This not only allows people to see their pensions information in a more meaningful way, that maps on to their life, but also to see gaps in contributions, to play with the data (for example moving sliders to change retirement date and see the impact), and to take action accordingly.
We know that people find it challenging to engage with their pensions, and so we also wanted to use life events as triggers that would prompt people to engage with their data and plan for their retirement more regularly, and more effectively. We set up communications (or nudge) preferences on an opt-in basis that prompt the platform to notify users when they've moved home, got married or divorced, had children, changed job, or under a range of other circumstances, by integrating with users' social media channels, financial or governmental data. There are also a number of other quick wins that can be achieved through this approach. For example, if you consent to linking with your mortgage provider, the platform can determine that you've moved home, and not only will it 'nudge' you to review your pension provisions, but it can ask you whether you'd like to update your address on the dashboard and to automatically propagate that change of address to all of your linked pension providers.
The results are out. We were given the top prize, winning the Consumer Champions award! It was great to work with such an enthusiastic, knowledgeable team and we're delighted that our ideas were so well received. There were a number of fantastic ideas from other teams too, and we hope that several of them will be taken further by HM Treasury and the ABI team into their thinking for the next phases of the 'real' dashboard design build project.
It's been a great, inspiring, and exhausting few days. Thanks to all involved for organising such a brilliant event. We're looking forward to continuing working with many of the participants and with the pensions providers and technology firms whose job, collectively, it is to deliver a truly consumer-focused, successful pensions dashboard that really engages people and helps them to plan much more effectively for their retirement.