Over half of adult Danes told researchers in a new survey that they are worried about their finances when they retire, according to Danish business paper Berlingske Business.

Per Klitgård, CEO of Danica, acknowledged to Berlingske that the sector as a whole has failed customers by focusing too much on gut feelings rather than trying to identify their customers’ needs by means of anthropological studies.

"It is completely wrong that so many people are feeling worried," says Per Klitgård, CEO of Denmark's second largest pension company, Danica.

He tells Berlingske Business that pension companies have been too "transaction-minded" and that they have generally built their solutions based on what was "heard in the market." Now, he says, Danica has a much more academic approach to understanding what customers are asking for.

English Edit: Marie Honoré