Improved online communication is one of the key factors super funds are focusing on in order to increase member engagement and stay ahead of the competition, according to Rice Warner Actuaries.
Senior consultant Greg Wilkinson said he had seen a marked increase in funds using online information as a key part of their member engagement, especially as market consolidation continued to increase competition between funds.
Wilkinson said the Internet was a good place for funds to meet members’ increasing needs around education and advice.
“The complexity of super means funds need to convey complex financial information to members in a readily accessible environment in digestible formats, making the Internet — supported by easy-to-access and competent call centre staff — the channel of choice,” he said.
Rice Warner Actuaries has recently developed a set of online tools for Local Government Super to help members with transition-to-retirement, super contributions, insurance needs, and more.
