Table of ContentPage
1 ) 0 Professional Summary two
2 . 0 Introduction - Current UK pension marketplace trend3
several. 0 History вЂ“ AVIVA
3. you current AVIVA situations4
three or more. 2 future prospects AVIVA4
4. zero Industry evaluation
4. you SWOT analysis5
4. a couple of PEST analysis6-7
5. 0 Product evaluation
5. 1 Types of Pension Personal Schemes8
your five. 2 Important issue experienced by AVIVA's PPS9
5. 3 Rival AVIVA10
your five. 4 Target market11
6. 0 Aims setting of AVIVA12
six. 0 Guide and Appendices13-17
1 . 0 Executive Synopsis
Due to changes for long term demographic and social trends such as a slowly but surely older and more affluent population has increased people awareness in importance of described contribution pension schemes. This kind of report target is to increase AVIVA's personal pension plans sales and reposition on its own by focus on target market just like middle salary people (generation X). It also presents a summary of the problem faced by simply pension and retirement profits intermediaries. Moreover of evaluating the macro environment, the report also highlights company internal environment by using SWOT analysis.
2 . 0 Introduction (Current UK Pension Schemes Market)
Due to a speedily UK populace trend, you will find considerable advancements in longevity and suffering state and occupational pension check provision, has turned retirement planning crucial than ever before. Begin from 2012, the united kingdom government happen to be continue to bettering its pension index credit score through auto-enrolment for UK employees in private monthly pension schemes or perhaps defined contribution pension strategies, encourage community saving money pertaining to retirement gain. This has setting up a new business possibilities for the united kingdom pensions market. Furthermore, monthly pension providers are actually in the process of developing, boosting and starting new selections вЂ“ quite a few plan enjoying new system and bundled solutions technology. However , over-regulation by the FSA, low consumer financial capability, ineffective government policies along with poor agent relationship are distorts pension check market functionality. In close to term, economic downturn economic situation while the number one obstacle faced by simply pension intermediaries.
3. 0 Background of AVIVA Plc
Aviva Plc is the sixth-largest insurer around the world and also the certainly one of leading insurance brand and customer business in the UK following replacing UK brand Norwich Union last season. Aviva offers deal with 53 million buyers by offering associated with insurance, conserving and expenditure, and monthly pension products in United Kingdom, European countries and United States. According to the group annual report (2011), В the revenues acquired declines approximately 28. 7% of ВЈ36, 003 mil (approximately $55, 646. 2 million) during the FY2011 more than FY 2010. The functioning profit experienced declines approximately 67. 3% of ВЈ635 million (approximately $981. 5 million) in FY2011 over FY2010. The net profit was declines approximately 84. 6% of ВЈ225 million (approximately $347. 8 million) in FY2011 over FY2010. In accordance to IFAonline (2012), AVIVA has growing life and pensions marketplace and sales increased 10% to ВЈ11, 315 , 000, 000. AVIVA have got a 25% individual annuities market share and have number two rank in the a life insurance policy protection industry. 3. one particular Current AVIVA situation
According to gross annual report 2011, AVIVA has built a successful several year syndication partnership with Royal Bank of Scotland Group pertaining to sales life, protection and pensions items from you January 2011. In addition , AVIVA are currently broadening rapidly in the newer Far eastern European countries of the Europe Union to gain even more competitive advantages. AVIVA happen to be prefer to concentrate their work on make use of their key competence (refer to Bout 2) and raising their profile amongst employers and pensions wholesale real estate flipper, as well as intermediaries and consultants. Thus, according to 2012 annual survey, AVIVA Existence and Pensions launched a fresh web set up in Nov 2012 because of its brokers and agents, that may...