Empowerment of the Consumer Presentation for OECD Paris, 9 july 2009 Rob Groenemeijer Chairman NBVA Chairman Federation FIDIN
Empowerment of the Consumer
Presentation for OECDParis, 9 july 2009
Rob GroenemeijerChairman NBVAChairman Federation FIDIN
NBVAorganisation of independent financial
advisors and insurance brokers
- Founded in 1909- 880 members - 6100 employees- 3 million customers - 3.5 billion premium income
CentiQan initiative of the
Ministry of Finance in The Netherlands
Mission CentiQ CentiQ partners share the ambition to enhance better insight in financial matters for consumers in order to consciously take financial decisions
NBVA is a partner of CentiQ
Financial MarketsConsumer • Low interest
• Little knowledge• No time
Products• High complexity
• Massive documentation• Many product
substitutes
The empowered consumer will beNo specialist
BUTBetter motivated
Self consciousAsking the right questions
The environment for financial advice has changed forever
The EU (MIFID) sets the standard for the financial markets • Quality of advice • Client in the driving seat• Financial advisors act to
the benefit of the customer
NBVA marketing activities will focus on the interests of the consumer• Integrity• Transparency • Protection & Awareness
The Future of Finance : Service will be the Key Succes Factor
ConsumerFinancialAdvisor
Insurance companies Banks
Integrity, quality, transparency
Platforms for access to products and services
NBVA’s new approach of customer information
go to www.nbva.nl/nbvatv andmeet FRANK (= the consumer)
www.nbva.nl/nbvatv
• Pension• Pensiongap• Mortgage• Remortgaging• Investing• Life cycle
• Car Insurance• Travel insurance• Home-owner • Household
One-minute customer oriented movies
http://www.nbva.nl/nbvatv-kijken/pensioenopbouw
• First pillar state provision will continue to be funded on a pay-as-you-go basis
• Second pillar depends on employment, might include pension gaps
• Use the Private Pension 3rd Pillar to save on taxes and secure your financial future
Pension Build-upFrank, take care of your financial future,
take care of the third pillar
Step 1 • create awareness : movies
Step 2• empower : useful
information on the subject of the movies on nbva.nl
Step 3• advise : choose the nbva
independent advisor in your neighbourhood on nbva.nl
Educating Frank
http://www.nbva.nl/nbvatv-kijken/oversluiten
• Bear in mind that remortgaging is not a cost-free process though. Your current mortgage may carry penalties or charges if you try to leave it early, plus there will probably be costs associated with the new deal, so factor all of this into your decision.
RemortgagingFrank, be careful,
Costs might pile up…..
http://www.nbva.nl/nbvatv-kijken/beleggen
Frank, are you an Offensive, Neutral or Defensive Investor
InvestingFrank, know yourself as part of your
investment plan
Investments so far• 10 youtube movies• 1 flagship site : nbva.nl• 900 member sites• Online campaign (100.000+ clicks)• TV campaign (200+ GRP)• Budget : EUR 300.000
• 10 new movies in production
Thank you for your attention
www.nbva.nl/nbvatv