Members more engaged with video snapshots

With member statements sometimes eight to 10 pages long UniSuper has launched their video summary and retirement income projections to complement their new one page statements.

After running their pilot of the program, UniSuper found members become more engaged than ever and were three times more likely to take action.

UniSuper's executive manager for marketing and product, Tim Anderson, said in comparison with a controlled group the pilot group had four times more members making advice appointments, twice the number of member online registrations, and had an increase of threefold in rollovers.

"We used engagement metrics but [the pilot's] success was ultimately people taking action, thinking about super in a different way and doing something about it, and the ultimate thing was people booking financial advice appointments," Anderson said.

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The videos are a personalised summary of each member's statement in less than two minutes that they do not have to read.

Anderson noted that with technology they will be able to roll out the statements now to 150,000 members in 48 hours.

"We see this as being a core part of our statement communications program and provide video statements twice a year to the majority of our members for June and December," he said.

"It's a new kind of engagement channel and we're just seeing the beginning of it. We'd like to see this capability extended to our tools and calculators. If someone were to put information into one of our calculators we'd like to see the outcome generated on demand in a video in the future."