Aviva Clarity
Aviva Clarity - our streamlined de-risking solution for smaller schemes
Aviva Clarity is our streamlined de-risking process aimed primarily at schemes with liabilities up to £100m and standard benefit structures improving their access to market.
Since 2007 we’ve helped hundreds of smaller schemes to secure their members’ benefits. We’ve used our experience to create a new process designed for smaller schemes. We also accept larger schemes that are comfortable following a standardised de-risking process, who can benefit from a faster approach.
Our streamlined process offers a simple and efficient transaction process, with several innovative features including:
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Standard data and benefit templates
A robust template catering for a wide range of features. All main benefits can be accommodated, and the template enables detailed and accurate pricing from Aviva
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Access to key information before quotation
Production of benefit specification, member data and reconciliation cashflows in advance of the quotation, to make sure the benefits to be insured are consistent with expectation
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Timescales agreed at outset
And significantly faster than a traditional quotation process
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Price locks
Available at any premium size
Aviva Clarity explained
Our video explains more about our streamlined de-risking process, how it works, and why Aviva could be the right choice for you and your members.
Transcript for video Helping schemes look ahead with confidence
The UK’s Defined Benefit de-risking market has grown substantially in recent years, with both the number and size of transactions increasing – a trend that looks set to continue for the foreseeable future. During this time, larger schemes have been attracting the most insurer engagement, meaning it’s been challenging for some schemes to secure access to market.
That’s where Aviva can help. We’re a whole-of-market provider with vast experience supporting schemes of all sizes on their journey to de-risking.
Our streamlined solution, Aviva Clarity, provides a quicker, more efficient, but fully robust de-risking process. It’s primarily aimed at schemes with liabilities of up to £100m and standard benefit structures – improving their access to market.
We’ve made it easy to ask for a quote by creating a standard template for trustees to give us the scheme data and benefit details. When you do this, we commit to:
• Triaging your request promptly – so you’ll quickly know if we can quote.
• Sending your quote within timescales agreed at the outset.
• And giving you access to our dedicated team of highly-experienced pension professionals, to guide you through the journey.
Here are four reasons why Aviva could be the right choice for you and your members.
Capability: With over 15 years in the market and more than 650 BPA transactions of £100m or less, we have the knowledge and experience to support your scheme.
Reliability: Our robust and efficient process supports a smooth end-to-end journey. You and your members get full access to expert support from our in-house UK teams. And with over 325 years of helping people safely plan for their futures, Aviva is a brand your members will know – and can trust to provide a secure home for their pensions.
Stability: With a Solvency II Coverage Ratio of more than double the regulatory requirement and Insurer Financial Strength ratings in the double A range, you can be confident Aviva has the strength and durability to meet its long-term commitments to you and your members.
Sustainability: We work closely with our in-house fund manager, Aviva Investors, who’ve been ranked 3rd out of the world’s largest asset managers across responsible investment themes.
We integrate environmental, social and governance factors into our investment processes to help manage risk, and with the aim to enhance performance over the longer term. We believe this will help ensure our de-risking processes are fit for the future.
Defined Benefit Solutions
We're a leading provider of de-risking solutions for UK Defined Benefit pension schemes.
We have the experience and specialist expertise to reduce or fully remove your liability. Through our buy-in or buy-out solutions, we offer protection against risks including investment underperformance, longevity, interest rate changes and inflation.