Provide deep insights into member demographics, behaviors, and preferences to improve member engagement.

Our Member Insights service delivers a detailed analysis of member demographics, behaviors, and preferences, enabling pension funds and institutional investors to make informed decisions. We use mixed methods research, combining quantitative and qualitative approaches to building data-informed insights about members. This comprehensive understanding of the member base helps organizations tailor communications, services, and engagement strategy to meet the specific needs of their unique stakeholders.

Identify patterns among members to develop and act on segments.

Our Member Segmentation service builds on the foundation of research-led member insights to identify patterns in member data and define segments that address priority problem frames, considering;

• demographic data such as age, employment status,
• behavioral data such as online usage and click through rates, and
• psychographic data such as communication preferences and retirement aspirations.
  
  

Data-informed segmentation can categorize members for engagement in tailored communication, operational campaigns, plan design and product development and testing, and to inform organizational priorities and investments. We can also build personas to humanize segments, supporting their integration into pension administration workflows and planning. Our approach considers not only the creation of segments, but the building of organizational capabilities across legal and privacy frameworks, data collection and storage, and digital engagement that enable segmentation on an ongoing, as-needed basis.

Map the member journey to build winning experiences.

A member’s experience of our plan includes a myriad of interactions, only some of which we directly control. Too often, we observe members not using products or services effectively, high call center volumes, and inconsistent service delivery – how can member experiences be better? Our Member Journey Mapping services guide clients through the process of developing a comprehensive view of members’ interactions with the plan across managed and unmanaged touchpoints—from self-service channels like online portals to assisted channels such as contact center interactions. We aim to gain a deep understanding of member-specific experiences like the enrollment journey or retirement process by immersing ourselves in members’ shoes and viewing pension plan benefits and administration from their perspective. This approach allows us to identify positives, pain points and opportunities which can be prioritized and addressed by organizations through product development, enhanced engagement strategy, or improved communication tactics.

Develop compelling value propositions that resonate with members and drive engagement and satisfaction.

Pensions have customers – whether we typically frame it this way or not. Value proposition – the reason our customers should choose us – matters. Our Member Value Proposition Design service assists pension administrators in creating value propositions that clearly articulate the benefits and value plans offer to stakeholders, especially members and employers. Building on member strategy and insights inputs, we identify the relevant customer needs and required organizational capabilities to bring together in a compelling value proposition. We conduct competitive analysis that can inform value proposition choices, providing valuable perspective on differentiation, innovation and value to stakeholders. Deliberate value proposition design can drive stakeholder engagement, satisfaction, retention and trust as well as evolution and growth of products and services.

Optimize communication and service delivery channels to deliver members timely and relevant support.

Our Channel Optimization service helps organizations enhance the effectiveness of their communication and service delivery channels. We assess current channels, including digital, phone, and in-person interactions, to identify strengths that can be enhanced and areas needing improvement. By optimizing these channels, members can receive timely, relevant, and effective support, enhancing their overall experience. Our approach includes working with organizations to develop multi-channel strategies, integrate technology solutions, and implement continuous performance monitoring to ensure ongoing effectiveness and member satisfaction.

Help members understand their pension plans and make informed decisions.

Our research – and lived experience – shows us that the typical pension member is not educated about their plan and may be missing out on opportunities to maximize the benefit, confidence and security that pensions offer. Our Member Education service offers a range of educational resources and programs designed to empower members with the knowledge they need to make informed decisions about their pension plans. We develop customized educational materials, conduct workshops and webinars, and offer digital learning solutions tailored to the needs of different member segments. effectively articulating the expertise of organizations to meet the identified needs of members. By enhancing plan members’ understanding of their benefits and options, member education services can help improve engagement, satisfaction, and overall financial well-being.