Effective self-management support for consumers

Published on: 17 November 2016

It is increasingly important for consumers to take responsibility for decisions about finances and work. Consumers will have to be better prepared in the future to address the effects of disability, unemployment, divorce, retirement or other family events themselves. In this Netspar paper investigates how consumers can be better enabled to manage risks themselves.


Confidence and ease of new financial applications via mobile devices.

Netspar paper Effective self-management support by, among other APG Alwin Oerlemans Collective provisions for social security and income (including pensions) are the last decade systematically retrenched and discussions are about the individualization of what there is left of it. At the consumer this is not yet reflected in a visible need for personal advice, but the low consumer confidence figures in institutions and financial parties speak volumes. As a consumer, you're on your own, that's the feeling. At the same time we are learning more about consumer behavior. We see that consumers are willing to share information and resources via new networks (supported apps), a large majority is online and is served by convenience new financial applications via mobile devices.

Understanding and action perspective

Roboadvicing is in the experimental stage, financial institutions, technology companies and regulatory authorities (DNB, 2016) look at how the rise of FinTech can help relieve the lives of consumers. On the labor market, we see rapid changes. An increasing proportion of the workforce has a temporary contract, working through a temporary business or yourself to work as freelancer. Keywords in the new economy have flexibility and choice. How the consumer is better able risks in terms of income, finances and work to manage themselves. Possibilities are integrated lifecycle planning and other options in the light of recent technological developments. The aim is to give consumers insight into his situation and an action perspective offer, both in terms of finances and assets as work and income at all stages of life.

Labor and financial services

This requires platforms required where consumers can find each other, information and solutions. Who makes these platforms come? What can the government do to make this a success?
Only in this way can be a response to the continuing shift of risk from government and business to any consumer and acting. Workers increasingly need to support their employability and financing of the life. Here the labor market affects the financial services market. The scope of collective employment is limited, these are increasingly the character of individual packages. At this junction which matches service workers by the hand, guides and helps to make better choices in their lives. These choices are about investing in employability, transitions to other work and save and invest for later when there is no income from work (more). How to provide these services in respect of finance, insurance and labor input form is the main question in this paper design.

Claims for consumers, providers and government

The researchers come, on the basis of the analysis of building blocks, business models, and bottlenecks, concluded at three levels (micro-consumers, meso - provider and macro-government). Consumers there is a need for convenient, but also personal and analytically sophisticated, supporting financial and career planning. For providers appears to be a co-creation model to offer the most opportunities, involving both cooperation with consumers, as with other providers. The researchers see different possible roles for providers, ranging from a role as an independent platform (commercial or represent consumers), to the development of an existing feature such as pension provider to a fully fledged self-management environment. The role of government is to indicate relatively less bright. Laws will have to find a balance between allowing, for example, flexible data exchange
between the parties, if the consumer so desires and safeguarding the privacy of consumers who do not want information to be shared.