Online channel key to driving member awareness &
engagement
Sydney, 1 November (ASX: BVA) - Bravura Solutions Limited
(Bravura), a leading supplier of KiwiSaver administration
systems and a global supplier of transfer agency, wealth
management and life insurance software applications and
professional services, recently hosted a roundtable on the
future of New Zealand's Kiwisaver scheme. A common theme
that emerged from the roundtable of New Zealand-based
superannuation experts was that while KiwiSaver has raised
the profile of superannuation, more could be done to
improve members' education and experience.
The roundtable, hosted in conjunction with FST Media and
called 'KiwiSaver: The Next Five Years - Staying in the
Game', saw chief executives and divisional heads from some
of New Zealand's leading wealth management companies
discuss emerging trends in the country's superannuation
space.
Martin Gould, National Relationship Manager for Bravura,
said: "Since KiwiSaver's inception in 2007, more than two
million members have joined the scheme and are actively
saving for their retirement. This is a positive change in
the savings landscape but there's room for improvement to
better New Zealanders' retirement prospects."
Participants agreed that the introduction of KiwiSaver has
highlighted the importance of superannuation but there
remains a general lack of awareness and engagement amongst
current and potential members.
The gap between what members think they need to save and
what they actually need for a healthy retirement income is
miles apart. Most people spend less time planning for their
retirement than they do for their next holiday, cited
roundtable participant David Boyle, General Manager - Funds
Management at OnePath.
KiwiSaver's online presence will encourage members to
actively monitor their investments and think ahead of the
income they'll need for a comfortable retirement. Members
find it reassuring to log on and see how their investments
are doing at their convenience, rather than relying on an
annual statement.
Providers can also more easily tailor information through
the online channel and educate members on the importance of
superannuation financial savings.
"Communication should not only comply with the rules but
should also be useful and digestible to members, no matter
what their level of investment expertise," said Roland
Slee, Bravura's Managing Director, Asia Pacific.
"There is huge opportunity for improved engagement through
online channels. It's an inexpensive communication method
for providers, and enables members to instantly and
conveniently connect with their savings."
Bravura's wealth management and life insurance application,
Sonata, combines leading capabilities for KiwiSaver
administration with 15 years of proven functionality and
modern, agile technology. Sonata's web driven capabilities
enable direct connection with a number of distribution
channels including online member and advisor access.
To view the full roundtable transcript go to: http://bravurasolutions.com/kiwisaver-roundtable
distributed by |