NEW YORK, Nov. 4, 2021 /PRNewswire/ -- EY today announced the launch of EY Innovation Studio (EYIS): empowering financial security and wellness. The program is a key element of the firm's broader focus on financial well-being and long-term value. The first year's cohort focuses on "Reframing retirement," reflecting EY's vision of the future of the retirement ecosystem and spotlighting the fundamental challenges and evolutions that the industry must embrace to continue to serve the growing needs and expectations of its customers.
"COVID-19 emphasized the existing disparities within the current US retirement industry and accelerated the changes that have been bubbling to the surface over the past years," said Justin Singer, Partner, Financial Services, Ernst & Young LLP and EY US Retirement Leader. "The purpose of 'Reframing retirement' will be to bring critical issues into focus and inform the ecosystem to produce better financial outcomes."
EY leadership believes that this is a critical time for the retirement industry and is determined to help executives shift their engagement with this ever-changing landscape from reacting to reframing, so that financial well-being is improved for millions of Americans. Engaging C-suite and other senior leaders from across the retirement landscape – wealth managers, insurers, plan sponsors, asset managers, consultants, government, recordkeepers, associations and technology firms – the program elevates diverse ideas and actionable insights that influence agendas related to social impact and improving consumer outcomes. This initial five-month program will provide insights to help enable executives to think beyond established boundaries to envision tomorrow's high-growth opportunities and conceptualize optimal strategies for success.
"The retirement industry is experiencing significant disruption, and we anticipate this change to persist," said David Kadio-Morokro, EY Americas Financial Services Innovation Leader. "Our clients need to understand these changes across their broader ecosystem in order to create opportunities for their businesses and the future of the industry. We believe our unique EYIS program creates those avenues."
The EYIS financial security and wellness event series gives participants the opportunity to:
- Create a vision of the future of financial services and retirement
- Frame the business case for change
- Understand opportunities for sustainable innovation and strategic agility
- Explore accelerators and use cases that create long-term value for businesses and consumers
"Today, the leaders within the retirement industry must navigate a rapidly changing environment while managing employer interactions and delivering financial well-being to members, pensioners and beneficiaries. The goal of this year's EYIS 'Reframing retirement' program is to educate and explore new ways for these institutions to create value, security and trust for a broader set of stakeholders than ever before," said Josef Pilger, EY Global Pension and Retirement Leader. Participants in this year's EYIS event series will have the opportunity to connect with key influential industry leaders across the retirement ecosystem."
For more information about EY Innovation Studio (EYIS): empowering financial security and wellness, visit ey.com/en_us/financial-services/ey-innovation-studio-empowering-financial-security-and-wellness
For more information about our retirement practice, visit ey.com/en_us/financial-services/reframing-retirement
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