In such a highly competitive market poorly educated consumers needing to turn their pension pots into annuities thought they had nowhere to turn for advice and tended to buy on rates rather than suitability. LV= had an advice team with a good track record of converting enquiries into sales waiting at the end of the phone. The challenge was to identify if and how digital channels could connect the two and drive more calls.
Having established the importance of education over rates we focussed on the LV advice team as the unique point of difference. We refreshed the annuities content on the website and used prime real estate to highlight the importance of seeking advice before making any decision.