Finding the way forward for TPAs
As well as working for Pension Schemes and Sponsors we also work for providers.
In 2015, a small existing TPA provider approached us to seek input to the design of their Third Party Administration services. After detailed discussions, Ian and Philip carried out a Market Insight exercise for them, which involved nearly 100 interviews with reward & pensions professionals and over 1,000 pieces of separate feedback.
We then condensed this feedback in to key themes and a ‘strawman’ of how buyers perceived a future optimised pensions administration service to be designed.
We are now a ‘trusted adviser’ to the Leadership Team at this provider and provide ongoing support and guidance across a range of administration related areas.
Another TPA was looking to expand into a new market and John carried out an assessment of the market including interviewing prospective clients and other stakeholders and created a business plan to assess the viability of the expansion. Eventually he concluded that the TPA had better options to grow and develop their business in the areas in which they currently operate and worked with the senior management team to have a revised strategy accepted by the Board.