“We make pension provision as easy as online banking” – Jan Kundert on Helvetia’s new Financial Fitness Score

Helvetia is setting new standards in the Swiss pension landscape with a digital self-service pension check and the newly developed Financial Fitness Score. In just 90 seconds, users receive an individual overview of their financial security.

In this interview, Jan Kundert, Head of Customer and Market Management and member of the Executive Board of Helvetia Switzerland, explains why this innovation is far more than a technical gimmick and how it could permanently change the pension culture.

Mr. Kundert, in its press release Helvetia speaks of a “revolution in the Swiss pension world”. What exactly is so new about this digital pension check?

Our self-service check offers interested parties a transparent and comprehensive analysis of their personal pension situation based on the data they enter themselves. What is revolutionary is that the data can be entered in a very short time and that the check generates a “financial fitness score” with which you can compare yourself against a reference group. And last but not least, this service is absolutely free.

Our pension check is also omnichannel-capable, i.e. it can be used in self-service via various channels. At the same time, our advisors have the same tool at their disposal and can directly transfer the data entered by the customer to enable fact-based advice.

What triggered the development of such a tool? Customer needs, regulatory developments or technological possibilities?

The idea was developed together with our partner vlot AG from a strong customer perspective. We wanted to provide our BVG policyholders with a comprehensive overview of their pension situation. Customers want to be covered for unforeseeable risks and for their financial situation in old age. It is not so important whether the money comes from the first, second or third pillar. It must be enough to enable you to lead a carefree life. It is important to have an overall view of all three pillars. Until now, however, gaining this overview has been time-consuming, which has prevented many customers from gaining an overview at an early stage.

Our customers can read the data from the second pillar from the customer portal or directly via the Helvetia pension certificate using a QR code. Without having to laboriously search for the data, as we have found that reading a pension certificate is quite difficult for many insured persons. Supplemented by the data from the first and third pillars, users receive a holistic picture of their personal pension provision, which is presented in an understandable way and shows which measures can be used to close gaps. This is how we optimally combine customer needs and modern technology.

How does the Financial Fitness Score actually work? What data is included and how is a single key figure calculated from it?

The new Financial Fitness Score integrated into the pension check allows you to summarize your own financial situation in a single figure and compare yourself with a reference group. The score takes into account the risk and pension analysis, family constellation, age and financial situation. The various dimensions of the score are weighted according to life phase and gap size before they are aggregated to form a figure. Users can also playfully test how their score changes when a risk is hedged or the savings rate is increased.

The QR code on the pension fund statement is an important component. What role does this innovation play and how did you manage to be the first insurance company to read it in a standardized way?

We have developed this together with our partner vlot AG for our pension certificates. The automated data transfer makes it easier to fill in, minimizes possible incorrect entries and saves time. From 2026, a large number of pension funds will also use a QR code on their pension certificates via the bvg-digital association. We will also be able to read this code in future.

Many people find pension provision complex and confusing. How did you design the tool so that it remains easy to understand and accessible?

Our tool can be operated intuitively by the user. To ensure this, numerous usability tests were carried out with customers. We counteract the complexity with clear presentations of personal pension gaps and brief explanations. An advisor is available at all times to refine the self-service analysis and to discuss users’ needs in person.

How do you ensure that sensitive personal data remains protected and that users really retain control over their information?

The pension analysis is subject to Helvetia’s usual data protection standards. Privacy and personal rights as well as the handling of personal data are important to us. We therefore inform users in detail about the underlying standards before the personal analysis is started.

Users can use the score to simulate various scenarios. How much does the score typically change if, for example, the savings rate is increased or risks are hedged?

This depends on the extent to which the risks have already been hedged and how high the target income and thus the savings rate is set. This depends on the user’s life situation, risk appetite, financial situation, willingness to invest and spending behavior. It is not possible to give a blanket answer here.

To what extent can this tool replace traditional consulting – or is it intended as a supplement?

In any case, it makes sense to start with a self-service analysis, deal with the results yourself and then refine and further individualize the analysis in a next step together with a Helvetia advisor. Pension provision is long-term oriented, based on trust and many components have to be included. That’s why I see the digital tool and personal, individual advice as the ideal combination.

You talk about a “contribution to raising awareness” of pension provision. How do you intend to ensure that younger target groups in particular or people without an advisor are reached?

The challenge of pension provision is the time-consuming collection of all data. This “barrier to entry” prevents many people from taking the first step and getting an overview. With the digital pension check and the option to enter data via QR code, we are removing most of these barriers to entry. It is important to carry out a corresponding analysis as early as possible, as early provision is extremely efficient for younger people in particular due to the compound interest effect.

Comparing one’s own financial situation summarized in a figure with a reference group contains a playful element. Especially in the younger target group, benchmarking is an important element in assessing one’s own life situation. With the Financial Fitness Score, we want to provide a measure that the younger target group can also use for orientation.

How do you involve your sales partners and consultants in this new digital offering? Do you see opportunities or areas of tension here?

In addition to the self-service analysis tool, Helvetia advisors already use an expert advisor version from our partner vlot, which allows an even more in-depth analysis. Sales partners, on the other hand, use their own advisory tools. vlot is a SaaS (Software as a Service) solution that is constantly evolving and can also be implemented by other pension providers.

What role did the collaboration with the start-up vlot AG play? Was the external expertise decisive for the development?

The expertise and innovative capacity of an external partner helped us to develop and implement a modern omnichannel strategy. We have implemented the central element of such a data and channel strategy by means of a deep data connection to our CRM. This allows us to benefit even more from the strength of the tool.

The pension check is also explicitly aimed at real estate owners and people aged 50+. Why this segmentation – and how do the use cases differ?

We differentiate between the cases in terms of the weighting of needs. Younger people should deal with pension provision promptly, particularly with regard to risk protection. For property owners, we see a very large affordability gap in old age, which needs to be addressed proactively. Last but not least, people in the 50+ segment should actively consider their pension situation and pension planning.

How do you measure the success of this new tool? Is it primarily about reach, customer loyalty or actual contracts concluded?

We measure success on the basis of the checks carried out, the downloads of the analyses – which are available free of charge – and the resulting new customers, which are certainly delayed.

What are the next steps? Do you foresee further expansion stages or interfaces, for example to pillar 3a or to bank offers?

A direct online conclusion option from the tool would be a conceivable solution. As far as a bank-side offering is concerned, a successful conclusion of the current merger plans with Baloise and its banking services would of course help us. Integration into our MyHelvetia customer portal is also on the roadmap.

And finally, how will this tool change the role of an insurer like Helvetia in the Swiss pension market in the long term?

With its low-threshold offer, this tool is intended to encourage people to tackle the topic of pension provision and deal with it. For many people, we want to help them take the first step, create transparency, better understand their financial situation and improve it on this basis.

Try out the pension check here
For young people: www.helvetia.ch/vorsorge-check
For property owners: www.helvetia.ch/abgesichert
For 50+: www.helvetia.ch/pensions-check

Conclusion

With the digital pension check and the Financial Fitness Score, Helvetia is introducing a low-threshold, innovative tool that provides a transparent overview of the personal pension situation within 90 seconds. The combination of data integration via QR code, real-time score and self-explanatory nature is intended to make pension provision accessible to all sections of the population. Jan Kundert sees this as an important step towards raising awareness, simplifying processes and strengthening the role of the insurer as a digital partner for the future.

The questions were asked by Binci Heeb.

Read also: Helvetia brings a breath of fresh air to the Swiss pension world