Robo-advice is becoming an area of development in the distribution and accessibility of advice for customers. Technology such as data science, machine learning, and artificial intelligence (AI) is evolving and disrupting the advice space. It is an area where competitors are able to differentiate their services. As a result, it is vital to ensure players are aware of current propositions in the market and can adapt their own in order to remain relevant. This report aims to help players understand how best to evolve their own service. 

This report focuses on robo-advice within the protection insurance, retirement, and pensions markets. It discusses a multitude of robo-advice propositions currently available, and uses them to give an overview of how the robo-advice space is evolving. It analyzes what types of providers are entering the robo-advice space, what type and complexity of service they offer, and what areas of customer finances they are advising on.

Case studies are discussed in chapters by provider type, as each has different approaches and experience in the robo-advice market:

·         Online Wealth Managers

·         Banks and Incumbents

·         Start-ups

·         Advisors and Technology Companies

The report concludes with key questions providers must ask themselves when developing a robo-advice service, alongside key lessons learned and takeaways from the range of case studies explored.