Aviva took part in our Financial Wellness without Open Finance ratings and gained overall Gold awards for their My Money and My Money Master Trust propositions (they achieved an overall sliver award for their Designer proposition).
Financial Education is a key part of the Aviva offering. They offer wide range of generic financial education to their members, including information on what a pension is, the State Pension, death benefits, investment options, budgeting, savings, and wills. They are also able to deliver personalised financial education content to the member based on their age, selected retirement date, family status and financial position.
Aviva communicate and engage with their members via multiple channels including email, phone, webchat, and instant message. They use push notifications and intelligent messaging via the mobile app and member portal where necessary and can create savings statements via all digital channels.
Aviva conduct their own research to gain a better understanding of what their members want from a Financial Wellness program. This includes questionnaires, interviews, case studies and focus group with their members, employer clients, advisers, and the general public.
They also host financial wellness events for advisers, employers and members and have a dedicated financial wellness team on hand to assist with any questions and provide support.
“Benefits Guru provides comprehensive insight that supports advisers and their clients. It is great to see that the communication support and financial education services are being recognised and we welcome the opportunity to showcase this.”
Aviva also achieved underlaying silver awards for their budgeting and goal setting functionality and for the range of additional savings vehicles they offer alongside the pension. They do not currently have any functionality for members to save/build an emergency cash fund, create micro savings or assist with debt management, which is something to consider in the future.
Overall, this is a fantastic outcome for Aviva and demonstrates their commitment to offering products and services that their members want and value. Well done to all at Aviva.