The new service has been launched following detailed consultation with clients and their advisers on their requirements. It is the first outcome of Phoenix Group's enlarged strategic partnership with TCS, announced at the end of 2019, and another step in Standard Life Assurance's Development Roadmap for 2020 and beyond, demonstrating the important role TCS will play in enhancing its workplace proposition.
The new tool will provide employers and trustees with much richer insights, enabling them to segment their membership base to take more targeted action with their scheme members as well as exercise their governance and oversight responsibilities. These enhanced analytics have been rolled out to an initial group of clients who have supported the development.
The tool will gather, organise and present data by specific member behaviours and groupings to create valuable insights. This will be displayed on a simple-to-use dashboard that will provide workplace clients with self-service information to help them understand the profile and needs of their members to help inform decision making.
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