A panel of superannuation commentators have shared how data and technology can be used to improve the member experience at an exclusive Super Review event.
Titled SuperEngage: AI, Data and Experience, the gathering on 26 November brought together influential leaders to explore key trends reshaping the industry from the rise of artificial intelligence to member engagement and smarter use of data.
Designed specifically for superannuation fund executives focused on member and customer experience, it was hosted by Super Review in partnership with Wipro, Informatica and AWS.
A panel session included Balaji Gopal, senior leader at Vanguard, Wipro’s head of financial services consulting (ANZ) Jennifer Man and Jonathon Bowring, communities practice leader at Informatica.
In a lively discussion, the group discussed issues such as success factors in member engagement, the importance of having a digital-first approach and ways to develop personalisation.
Gopal shared a case study on his experience at Vanguard Super, a newer fund which launched in November 2022, and learnings from the parent company’s experience in US. The lack of legacy data held by the fund, he said, meant it was able to start with a clean slate in a way that other funds are not.
For Man, she emphasised the importance of a member-centric and outcomes-driven operating model that enables technology, data and business teams to work together, by aligning on the use case blueprint and sharing a single view of data. Super funds should also keep their members updated throughout the process when it came to personalisation enhancements and nudges.
From a technology perspective, Bowring detailed technological challenges he had found super funds experience as well as how they can improve data quality, a common issue cited by super funds.
They also discussed the upcoming Delivering Better Financial Outcomes (DBFO) legislation which will potentially see super funds be able to provide simple advice and nudges to their members and how this will change the industry in terms of meeting regulators’ expectations. Man discussed how the super funds may adopt AI for ‘responsible personalisation’ as well as a ‘human in-the-loop’ approach in their member experience design.
Also participating in the event was Amol Ubale, financial services consulting partner at Wipro who spoke about achieving data-driven member outcomes in the age of AI and shared insights from a Wipro survey.
Meanwhile, Paul Sherlock, data and analytics leader at Wipro, discussed how funds can enact their own customer transformation journey and the role of data teams in supporting member experience expectations.
The event concluded with a private lunch hosted by Melbourne restaurant Reine & La Rue, allowing participants to connect with peers and exchange strategic insights in an intimate setting.
