"Sustainability field presents abundant prospects for consultancy services"

In the ever-evolving world of finance, Standard Life, a leading insurance provider, has been adapting to meet the needs of its German customers for the past 25 years. Since its entry into the German market in 1996, the company has been at the forefront of innovation, introducing digital and sustainable solutions while phasing out traditional products.

The low-interest phase has led to a significant change, with Standard Life departing from guarantee products due to insufficient high yield. Instead, the company now focuses on investment-oriented old-age provision with multi-asset portfolios, a higher equity share, and a focus on yield.

Currently, Standard Life offers a range of products in Germany, including Maxxellence Invest, Parkallee, and Weitblick. Christian Nuschele, who heads sales and marketing at Standard Life in Germany and Austria, leads the company's efforts to adapt to the changing market.

The topic of sustainability presents great opportunities for advisors beyond regulatory requirements. Numerous studies have shown that sustainable funds perform as well as non-sustainable funds. In fact, every third customer in Germany would sacrifice yield for more sustainability in their investments.

To capitalize on this trend, Standard Life has introduced the obligation for intermediaries to inquire about and consider customers' sustainability preferences, thanks to the IDD and MiFID 2. The EU Transparency Regulation and new standards in the Taxonomy Regulation, set to come into force on January 1, 2022, will further reinforce this commitment.

To aid intermediaries in this transition, Standard Life has provided assistance to help them implement the new transparency directive requirements. The company has also launched a program with Going Public to further educate intermediaries on the topic of sustainability.

For those interested in learning more, recordings of online seminars and presentations are available on the Standard Life website. Additionally, sample formulations of the AfW and checklists of the BVK can be found on the site. A confirmation email has been sent to activate a subscription.

Digitization will greatly change the insurance distribution, and Standard Life has been proactive in this area. The company has continuously adapted its product range to meet evolving customer needs and market conditions. For instance, the company developed an index policy at the end of the 1990s, but there was no corresponding demand at the time.

In the face of the changing savings market, Standard Life remains committed to its customers and the future of finance. The company's approach emphasizes sustainability, ensuring that its products align with the values and preferences of its customers. With its focus on innovation and adaptability, Standard Life continues to set the standard in the German insurance industry.