Auto-enrolment is the opportunity, workplace benefits is the prize.

Auto-enrolment is an open door to something bigger and better.

Sources: The Pensions Regulator and Swiss Re

2016 2017 201820152014

Source: The Pensions Regulator

512,000 employers in 2016661,000 employers in 2017

Auto-enrolment is an administration exercise and payroll owns it. It’s about the How, not What or Why.

The auto-enrolment landscape.

Accountant/Payroll Bureau

Pension provider(majority NEST)

DIY

Online, outsourced AE service

IFA

AE will be over soon, but what will be left behind? There’s a long term future here for advisers.

The IFA has little competition in workplace benefits advice.

Accountant/Payroll Bureau

Pension provider(majority NEST)

DIY

Online, outsourced AE service

IFA

Providers

After the initial trauma is over, employers will be able to think more clearly.

Segments as I see it.

Scale of employer enthusiasm and investment in workplace benefits

Aspiring SMEs: Recognise value but have

limited budgets

A bespoke fit: Larger employers (250+) prepared to pay for a tailored benefit programme.

Budget buyers:Legal minimum only

Cost and complexity perception barrier.

Cost and product availability barrier.

A typical client profile.

Recognises the need to attract & retain

Sees business value in looking after their staff

Wants to do “the right thing”

Limited budget

Limited time

Need a guide to help them navigate

You don’t need to be in the AE market or a specialist. You are probably better placed than you think.

EBCs would love these connections and technology

levels the playing field.

This market is more accessible now..

It’s also a defensive tactic too. If you’re not talking to your clients, you can bet others will.

There is good earning potential here from regular commissions to build a long term business. But you need lots of blocks.

Individual Protection advisersHow many of your high net worth clients own businesses?

• Make the most of your contacts • Strengthen existing relationships• Close out competitors• Gain new individual business from

employees with specific needs

Pension AdvisersIf you have AE clients already, you have a ready made pipeline.

• Make the most of existing client relationships

• Cross sell protection products that complement the pension

• Close out competitors

PMI advisersIf an employer is already buying PMI, they are likely to be interested in other benefits.

• Make the most of existing client relationships

• Group life is much cheaper than PMI• Expand coverage to all employees• Close out competitors and become a one

stop shop for employee benefits

Routes in.

Design a proposition that meets the needs of you and your clients

Simple & quick to setup

Good earning potential and low variable costs

Trustworthy & reliable suppliers (No hassle)

Simple to use

Good value (cheap)

Trustworthy & reliable

AdviserClient

You’ll need…

• A simplified product, bought off the shelf

• Process discipline

• Product knowledge

• Providers who are competitive & give good service

A 3 point plan.

Plan your route to market

Design your marketing plan

Choose your providers carefully and lean on them

List your prospects Survey them Profile your client base and make a business case

Pick out products and a proposition to fit your prospects’ needs

Work out the best way of engaging with them

Pick your communication channels

Do your research

Balance product choice, competitiveness and service

Be prepared to operate a limited panel

Use providers who will take on the admin work

We can help.

• Survey building• Marketing support• Product and process training.

From our team of regional consultants.

New brand, new way of working, but an established strong insurer

Ratings for ERGO Lebensversicherung

Standard & Poors = AA- (Very strong)

Moody’s = Aa3 (Excellent)

Fitch = AA- (Very strong)

€48bnMunich Re premium income in 2014

43,000Employees in the Munich Re group

Auto-enrolment is an open door to something bigger and better.

Ellipse is the trading style of the UK Branch of ERGO Lebensversicherung Aktiengesellschaft, which is registered in England. Registration Number: BR010594.

Registered office: 15 Bermondsey Square, London SE1 3UN.

ERGO Lebensversicherung Aktiengesellschaft is authorised by BaFin (the German regulator), registration number 1184 and is subject to limited regulation by the Financial Conduct Authority. Details of the extent of our regulation by the Financial Conduct Authority are available upon request.