Life offices

How they scored

Scottish Life

In many ways Scottish Life was a trailblazer in this area several years ago with its Works4You proposition. Only a couple of weeks ago I was speaking at length to a benefits specialist that continues to have significant success in attracting new customers using this platform.

In fairness it could probably do with a refresh as a somewhat lower set of scores reveals. Mid-table results were recorded for Online Facilities, HR Functionality and Platform Service Availability, but more could be achieved in numerous areas including Benefit Selection, Benefits Promotion, Scheme Setup, MI & General Reports and Tools. We would also recommend that the inclusion of Behavioural Finance and Joiners & Leavers functionality be addressed in the next wave of development. That said, based on recent anecdotal evidence, if advisers are looking for a tried and tested out of the box solution that still adds valuable additional benefits to employers this should not be ignored, especially by mass market IFAs and other firms who may lack the budget to offer their own unique proposition.