A personalized pension guide with AI

To approach this challenge systematically, there are three basic steps you CAN follow. While these areas are intended to inspire participants, you can also go with alternative and creative approaches.

During the process, you can use personas to validate your technology (e. g. 25-year-old student who just starts his first job; 72-year-old pensioner receiving monthly pension), but the ultimate objective should be to personalize the information and offers provided on an individual level.

AI Concept & Design

Step 1: Define the generative AI´s purpose and target audience (structure into personas if needed)

• Who do we want to address?
• What are the specific pain points or challenges that the generative AI is meant to address (e. g. language barriers, educational barriers, …)?
• How can we personalize the generative AI´s features and functionality for different user-segments?
• How can we measure the success of the generative AI in meeting customer needs?
  

Step 2: Develop a user-centered design

• How can we ensure the generative AI´s interface is intuitive and easy to use?
• What are the essential functionalities that the generative AI should include to support an Efficient process?
• How can we build trust with users and ensure transparency in the generative AI's decision-making process?
• How can we ensure that the generative AI is accessible to all users targeted by your solution, regardless of age, education level, or language?
• How can we ensure the generative AI provides a seamless user experience across different devices and platforms (online/ offline channels)?
• How can we incorporate user feedback into the design process?
  

Step 3: Ensure compliance, security, and integration

• How can we integrate legal sources into the generative AI´s knowledge base?
• How can we ensure the provided information are correct and comply with current regulatory and legal standards & norms?
• How can we ensure that the generative AI is compatible with existing systems and processes within APG?
• How can we ensure that the AI is scalable and can handle increasing amounts of data over time?
• How can we maintain the security of user data and prevent unauthorized access or breaches?
• How can we ensure that the generative AI's decision-making process is transparent and explainable to stakeholders?

In the following you will find some helpful background information to steer your solution in the right direction.

General Knowledge Base

Who does APG work for?

• The eight pension funds we work for are our clients (also known as “pension fund clients”). On behalf of these funds, we serve the employers and pension participants who are affiliated with the funds. For a number of funds, we handle pension administration and see to the management of assets.
• Pension funds give central priority to the participants. They strive to communicate with their participants as effectively as possible and help them to plan for their future financial situation. Personal and relevant information (specific to the individual) helps to reach participants with respect to their pension.
• We serve employers who are affiliated with our pension fund clients. They pay pension contributions to the funds; APG collects them and invests them on behalf of the pension funds.
• Our services are also aimed at millions of people: employees, pensioners, their dependents, and current and ex-partners. Active participants are those employees who are affiliated with our pension fund clients through their employer. Former participants are employees who were previously employed by these employers and who have not yet retired. To pensioners, APG pays pensions on behalf of the funds.

New pension system

• As one of the largest pension administrator in the Netherlands, APG plays an important role in the transition to a new pension system, which is expected to be fully implemented by 2028. In this complex process, we stand side by side with the funds and social partners: together, we will implement the future pension system as efficiently and clearly as possible. APG is already preparing thoroughly.
  
  Find out more about the Dutch pension system
  Find out more about DNB

Pension administration

• For our pension administration, we have IT systems that contain the agreements with participants, and that are used to collect contributions and pay out pensions. APG also provides the annual pension statements. Because APG works on behalf of eight pension funds, we can keep costs manageable. Innovation and digitalization play an important role here.
• We work with multidisciplinary client teams, offering actuarial and legal support, among other things, to help pension funds decide what course they want to chart. We are also careful to ensure that each fund can keep its individual character, being reflected mainly in the communication with participants and employers.
• The needs of participants and employers are our starting point. On behalf of the funds, we offer them information and guidance related to their specific pension contract and their individual situations. We see it as our responsibility to give participants an overview of, and insights into, their (expected future) pensions. This enables them to make better decisions about their income now, and in the years and decades ahead. Our Customer Contact Center, which handles some 42,500 inquiries every month, plays an important role here. The questions come in by phone, and over email and chat. Customers can also find a lot of information online.
• In our work for the funds, we see employers as important partners: they are close to the participants. With our services, we help employers meet their administrative and other obligations and duties. We also support them in educating their employees.
  
  Find out more about pension communication
  Find out more about the supervision of pension funds with regards to ethical operational management

There are no degree requirements. This challenge is open for every ambitious mind determined to make an impact with an innovative approach to the topic, no matter if student, researcher, Startup, etc. 

This Innovation Challenge will be conducted in English and german - but note: the solution must be tailored to german language!

We are aware that your solution concepts are at different stages of development and that's okay! However, make sure to check out the knowledge base of the respective challenges in order to not miss out on additional information for your approach.

For the submission, it is sufficient to describe your idea or approach in the submission template and upload it via our platform. It doesn't have to be a fully developed concept with a concrete implementation strategy. A visualization of your approach ( e.g. a sketch, visual drafts or prototype) is beneficial – it should be as well developed as possible but appropriate to the time you have. Remember, there will be an elaboration phase for the finalists of this challenge, in which you will develop your submitted idea/approach.

Your business idea fits to our challenge? Excellent! Then take part and let's take the next steps together. You only have to fill in the submission template. In addition, you can upload further materials, such as a pitch deck.

Check out our tutorial: Get started! 

Check out our tutorial: Join a Challenge!

Your participation is not binding until you submit the Submission Template, and the qualification phase ends. You can always withdraw your submission before the deadline. Once you have uploaded your submission and you want to take part, please consider the timeline and be aware that you should be able to participate in every further step.

After the end of the deadline (August 14), the submissions will be reviewed by the challenge provider. The final teams of every challenge will be selected and invited to participate in the digital Innovation Bootcamp of the AI & Data Science Innovation Program. We will inform you via mail. Check the timeline.

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If you want to talk to someone from our team about your approaches, you need more information or if questions arise, just join one of our call every Tuesday. It is a group call and you also get the chance to meet other innovators!
Simply register here

All final teams agree to enter into discussions with the respective Challenge provider within three months of the programs completion regarding possible further use of the solution.  

During this period, the final teams also agree not to enter into discussions with third parties regarding further use of the solutions. 

Both parties (challenge provider and finalists) are also entitled to jointly agree on deviating and individual provisions with regard to confidentiality agreements or IP rights during the elaboration phase. 

In addition, concerning the planned joint publication of all solutions, the final teams will grant ekipa the necessary rights  

so that we can publish the solution under a Creative Common License (non-commercial). Important: Via your submission in the second phase you are in control of what we are allowed to publish regarding your solution. 

All details can be found in the conditions of participation.