Aegon Open Innovation Challenge


Apply until July 2nd, 2019

Aegon, a global financial services provider, invites innovative start-ups to realize the business models of the future in their dedicated quest to help people achieve a lifetime of financial security. In a world rapidly changing and driven by technological innovations, we invite start-ups - whose goal and purpose is to help society at large – to develop and explore new business models for Aegon’s current and future customers.

After selecting the most innovative concepts, Aegon will work together with the selected start-ups in testing the applicability of their concept for Aegon and its customers during an 8-week Design Thinking journey, with the aim of establishing a sustainable relationship. Aegon supports the chosen start-ups with its global presence & network, large customer-base, distribution channels, and highly skilled employees.


Remote collaboration with
on-site KickOff event and Demo Day
in The Haque HQ

Time Plan

Phase #1 Review & selection of business models: June to July 15 2019
Phase #2 Design Thinking Sprint & Prototyping: September to October 2019
Phase #3 Demo day: November 2019

Use Cases

Aegon is looking for startups that have proven their business idea and could help to rethink and change the traditional business models. Startups that are addressing one (or more) of the following Pan-European customer problems are encouraged to apply:

#1 Pension

We are looking for partners that can help us rethink and change the traditional pension model.

Examples of customer problems we aim to resolve:
● Safety net from government and companies smaller; growing pension gap
● Lack of awareness/ interest
● Lack of flexible, scalable, platform based 3rd/ 4th pillar products
● Lack of access via an adviser and real omnichannel solutions
● Low interest rates
● More demand for sustainable solutions

#3 Health & Wellbeing
We are looking for partners that can help us rethink and change engagement and protection for health and wellness.

Examples of customer problems we aim to resolve:
● Lack of transparency
● Unclear choice between public and private health
● Lack of omnichannel solutions
● Quality of healthcare services
● No engagement and link between health and other insurances/ investments/ pension

#2 Underserved Segments

We are looking for partners that can help us rethink and change the model to serve segments that are yet neglected.

Examples of customer problems we aim to resolve:
● Silver generation: pension, health and wellbeing as retirees live longer and healthier lives
● Students: financial services to the new millennials before they start their careers
● Self-employed: engagement on benefits freelancers would otherwise receive from an employer
● Other underserved segments

#4 Disruptive Distribution
We are looking for partners that can help us rethink and change the traditional distribution model.

Examples of customer/ agent problems we aim to resolve:
● Difficult to switch between channels (online & offline)
● Need for digitalization & efficiency
● Lead generation from multiple sources
● Lower margins/ commissions in midst of regulatory changes
● Continuous need for physical touchpoints & personal contact
● Utilizing customer data to increase customer relevance
● Increase touchpoints (direct, with retailers, with agents, with brokers)

Proposal will be selected based on: Desirability (Customer Relevance, Omnichannel perspective and distruptivness), Viability (Market attractiveness and scalability) and Feasibility (Ability to develop and execute with Aegon).


The selected startups have the opportunity to:

Mentoring & Support

Leverage internal skills from Aegon (e.g. Business Analysts, Marketing, Finance/Investment or Project Management support)

Co-Creating & Business Modelling

Work on the business model and Proof of Concept with Aegon and partner with them to launch the new solution to the market

Go-to-Market & Networking

Have Aegon invest time and money to launch your idea and build a long-lasting relationship

The pre-selection criteria

In order to be eligible to apply for the Aegon Open Innovation Challenge, your startup or team has to meet the following criteria:

Idea & Fit

Innovative business idea and tested business model. The disruptiveness of the idea and fit to Aegon’s strategy are essential for the selection.


Europe Focus


Growth, Later Stage Startups or Scaleups (preferably with working product and/or experience in the relevant industry, field and technology).

Innovation Program Setup

Phase #1

The first start-ups selected will be invited to join one of our partner’s ideation platforms called Be-Novative. Here, as a start-up, you will be able to explain your business model, receive some input from our expert reviewers and fine-tune your business case. The goal is to think about creative and innovative solutions which can be offered to Aegon's existing and future customer base.

Phase #2

The selected start-ups will join us in an 8-week Design Thinking journey starting on Monday, September 16, 2019. During the 8-weeks, your team will be assisted by an expert from Aegon, a TuDelft student, as well as coached in webinars and face-to-face events by Pioneers & Be-Novative in Design Thinking. To build your idea, Aegon will financially support your organization towards a prototype and final demo.

Phase #3

At the end of the journey, each start-up and concept will be evaluated individually. Based on the outcomes of this evaluation a suitable and sustainable long-term relationship will be discussed. During the Demo Day, taking place in December 2019, each team has the chance to showcase their business models and solutions.

About Aegon

Aegon’s roots go back almost 200 years – to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia. Today, Aegon is one of the world’s leading financial services organizations, providing life insurance, pensions and asset management. Aegon’s purpose is to help people achieve a lifetime of financial security. More information on


Why should you participate? How do you apply?
Check the answers of these and more questions at our FAQs section.

If it sounds like just the right thing for you, then apply now!

Amongst all applications received, the top teams will have the possibility to co-create and hack the challenge.

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