Friends Life has released its consumer segmentation tool to businesses in a bid to help them better understand and target their employees when delivering corporate benefits packages.
The insurer's model can been used to segment an employer's data to analyse their workforce and their financial profile, providing employers with insight and understanding of their employees' financial preferences.
This information can then be used to inform many areas of corporate benefits activity.
Understanding more about employees and their preferences helps companies to ensure they are providing the right options to best meet their employees' benefits needs, Friends Life said.
The model has been based on one built in partnership with CACI.
Information about consumers' home, work, wealth, leisure, media use and thoughts on brands and advertising as well as their preferred advice and purchasing channels has been used to gain insight into what consumers find important when it comes to financial services and their benefits.
Executive financial education manager Neil Hawkins added: "The Customer Segmentation Model allows employers to analyse and understand people's financial priorities, preferences and aspirations more than ever before. Everyone has different needs and one size does not fit all.
"The new model allows employers to focus on identifying and making available the products and services that meet particular employee needs. It allows employers to better understand their workforce and design corporate benefits in a targeted, tailored way that drives greater engagement and resonates with their employees."
