P+
P+ launches new savings product in just 3 months with Keylane Plexus
Business objective
When the Danish public-sector collective agreement OK24 introduced the possibility for employees to allocate optional salary funds to pension savings, P+ needed to act fast.
The new agreement created an opportunity for P+ to expand its product portfolio with a new savings option for its members. But the timeline was tight. The solution had to be ready for launch on 1 April 2025, and the development pipeline was already fully loaded.
For P+, the objective was clear: launch a new savings product quickly, securely and efficiently while ensuring a smooth experience for members and minimal manual administration.
Solution
P+ and Keylane established a small, agile project group with participants from both organisations. This created a focused forum for fast clarification of business needs, product strategy, user experience and system support.
The project group was able to make decisions quickly while drawing on specialist expertise from both P+ and Keylane when needed.
A key enabler was Keylane’s pension platform, Plexus. Because Plexus is designed for flexibility and easy configuration, the new product could largely be implemented by configuring the product structure to P+’s specific needs rather than developing new core functionality.
This made it possible to accelerate the process and reduce time-to-market.
Business value
The project delivered the following significant business value to P+:
- New savings product launched on time within a tight 3-month timeframe, allowing P+ to respond quickly to the OK24 collective agreement and offer members a new way to allocate optional salary funds to pension savings.
- Costs below the expected budget, giving P+ a cost-efficient route to expanding its product portfolio despite a tightly packed development pipeline.
- Fully automated solution from day one, including automatic payment identification and allocation, policy creation, welcome letters, and handling of stopped or resumed payments. This reduced manual administration and created a smoother experience for members.
The project was completed faster and at a lower cost than expected.
We are very satisfied with both the result and the collaboration. The project was completed faster and at a lower cost than expected with a product that also creates value for our members. Keylane has delivered in a professional and focused way, and we are very pleased with that. Johannes Beyer, Head of Development, P+
About P+
The Danish pension fund P+ is for academics. With more than 125,000 members and assets totaling DKK 185 billion P+ is one of Denmark’s 10 largest pension companies. P+ is passionate about finding smart solutions to complex problems and offer intelligent pension schemes and flexible insurances that match the needs of an academic.
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