Industry leading pension reporting

Challenge

We partnered with L&G to modernise their data infrastructure, revolutionise pension reporting to clients, increase customer satisfaction and reduce the pressure on L&G employees. 

Providing regulatory pension reporting for clients was complex and time consuming - analysts had to manually construct governance reports from disparate data sources, whilst also dealing with ad-hoc client requests. 

Due to long lead times on responses (3-4 weeks) client satisfaction was dropping and the pressure resulted in a high staff turnover in L&G’s operations team.

Solution

Our goal was to make pension performance information and forecasting available at L&G pension clients’ fingertips. 

Existing, legacy systems were a limiting factor here, so a key focus was supporting L&G through the labyrinth of digital transformation, kickstarting a smarter way of working.  

We moved from a legacy IBM architecture & infrastructure to a cloud-first Infor Birst data & analytics platform, enabling a self-service model.

We gathered data for the new platform, from all of the necessary sources across the business and collaborated with L&G to build secure interactive dashboards allowing clients to access their pension data in real-time. 

As the project was accessing and querying highly sensitive pension information, security was critical and was rigorously tested at every step. We took a belt-and-braces approach to security, using Birst’s native security protocols to ensure data was only seen by those with permissions to see it.

Impact

We delivered a solution that enables up-to-date MI about client pension schemes on demand.  This innovative, progressive solution cements L&G as a market leader in this space. 

£50bn

Assets Under Management (AUM) in near real-time

The project has garnered widespread industry recognition for L&G for delivering real innovation for clients in the pensions area.

More than 300 of L&G largest clients are onboarded, representing 3 million members. 800+ users can access secure dashboards on the platform, managing £50bn Assets Under Management (AUM) in near real-time.

The L&G teams and clients now have secure, accurate interactive pension data available at their fingertips.

Overall benefits to L&G have been financial, operational and reputational - reducing costs, increasing capacity, improving performance, improving client satisfaction and gaining industry plaudits.