It can be difficult to know just what kinds of retirement benefits you can access after retiring, so 'Renew' is a service that aims to make it easier to find out. Set to launch in 2017, 'Renew' will work by connecting employers and employees to different benefit options that are available to retirees after they've left the workforce.
'Renew' would work as a resource that would be implemented by an employer and have an employee sign up; from here, a list of benefits would be curated that suits their needs. This would enable a retirement benefit package that's suitable for individuals to be obtained rather than having employees rely on guesswork or waiting until after retirement to make decisions.
Retiree Benefit Services
'Renew' Provides Retirement Benefit Information to Boomers After Retiring
Trend Themes
1. Retirement Benefit Information - Disruptive innovation opportunity: Develop a digital platform that provides accurate and personalized retirement benefit information to retirees.
2. Employee Benefits Curators - Disruptive innovation opportunity: Create a service that connects employers and employees to curators who can help navigate and optimize retirement benefit options.
3. Pre-retirement Decision-making - Disruptive innovation opportunity: Build a tool that empowers employees to make informed retirement benefit decisions before actually retiring, maximizing their financial security.
Industry Implications
1. Employee Benefits - Disruptive innovation opportunity: Introduce technology-driven solutions to streamline the benefits administration process and enhance the overall employee benefits experience.
2. Retirement Planning - Disruptive innovation opportunity: Develop innovative tools and platforms that assist retirees in planning and managing their financial resources during retirement.
3. Human Resources - Disruptive innovation opportunity: Harness AI and automation to revolutionize HR processes and provide employees with personalized retirement benefit guidance.