Aviva signs Israeli insurtech hibob for pensions auto enrolment
Aviva will be offering its workplace pension scheme at a discount to employers through a tie-up with insurtech firm hibob. The UK's largest insurer will use the Israeli start-up's auto-enrolment platform to offer its Aviva workplace pension product to small and medium-sized businesses. Auto enrolment on hibob's platform takes 15 minutes and Aviva hopes the partnership will allow it to capitalise on the 500,000 new corporate policies expected to be bought in the UK this year.

03 Mar 2017

Aviva, the UK's largest insurer, has teamed up with HR and insurance tech start-up hibob to help small and medium sized companies set up their workplace pension schemes.

The hibob platform, which launched in June 2015, simplifies the auto-enrolment process by enabling companies to automatically use their employee information, assess eligibility, plan costs and then feed directly into Aviva's online system. From there, a small business owner or their business adviser can complete the auto-enrolment journey, with the whole process taking 15 minutes. hibob clients will also be eligible for a discount on the employer charge with Aviva's Workplace Pension.

Under auto-enrolment legislation all companies with at least one employee must now offer their staff a pension. More than 500,000 businesses will go through the process in 2017, with the majority of those being smaller companies who are not finding auto-enrolment easy. In Aviva's 2016 Working Lives report only 24% of small businesses said they found the process straightforward.

Andy Beswick, Managing Director of Business Solutions at Aviva, said:

'We have integrated our systems to make it as easy as possible for SMEs to set up and manage their workplace pension online. Aviva is committed to being a more digital company and we have already made a huge amount of progress in that area. Working with hibob is a natural step for us. They have a great team with huge ambition, are well funded and are already doing incredibly innovative things to help smaller businesses deal with their HR and People Management responsibilities.

'We will set up a workplace pension for companies of all sizes, including those with just one employee, and we have created a simple online application process. hibob clients will be able to send their data to us and set up their workplace pension in just 15 minutes.

'I'm delighted to be working with a really exciting tech start-up which is changing the way small businesses manage their employees. Aviva and hibob share a vision to reduce the complexity of administration so business owners have more time to actually do business. I'm looking forward to continuing this collaboration so we can build systems that really work for SMEs.'

Lady Barbara Judge CBE, Chairman of hibob and Chairman of the Institute of Directors, said:

'Having been the Chairman of the Pensions Protection Fund and the current Chairman of the Institute of Directors, I know first hand how businesses feel when embarking on what is perceived to be a lengthy and complex journey to auto-enrolment. This partnership is ideal for businesses. hibob uses smart technology to take away the pain of set-up administration, whilst Aviva delivers expertise, scale and credibility in pensions, which is so important when thinking about the long-term financial future of your employees.

Ronni Zehavi, co-founder and CEO of hibob, said:

'We're committed to changing the way SMEs manage their people and, in particular, helping businesses set up, administer and engage their employees with the important benefits they provide.

'Collaborating with a brand like Aviva is incredibly important for us. Aviva is one of the most established companies within this sector and yet the team has a hunger and desire to become one of the most modern and innovative businesses out there. We are excited to work and build on this collaboration in the coming months and years to deliver efficient and market leading solutions for our customers.

'Offering a pension is now a legal requirement and by partnering with Aviva we'll be able to help our clients fulfil their obligations with the minimum amount of hassle.'

- Ends -

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Notes to editors:

• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide

• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.

• Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £319 billion in assets.

• Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.

• By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

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About hibob

hibob is VC backed startup whose sole vision is to redefine how Smart Modern businesses manage their people through technology.

hibob takes people management out of the back room and puts it at the heart of a business. Sorting HR & Talent Admin, Benefits and Culture in a way that drives huge efficiencies, provides invaluable management information and most importantly greater engagement and retention of employees.

hibob launched in June 2016 after receiving $7.5m in one of the largest seed rounds ever seen in the UK. The investment round was led by Silicon Valley based Bessemer Venture Partners and joined by LocalGlobe, as well as several angel investors well-known in the startup community. Since launch hibob has seen considerable traction as being adopted by some of the UK's most forward thinking and fast growth companies such as Receipt Bank and Wieden & Kennedy.

To learn more and take a free trial, visit www.hibob.com

Find hibob newsroom here.

Find hibob Press Kit here.