On September 27, Lumera invited prominent representatives from the Nordic Life and Pensions industry to join a webinar about digital participant activation.
Peter Roos, International Business Development at Lumera, moderated the webinar with Tim H. Burggraaf, Associate partner at EY, Ralf Widtmann, Founder and CEO at riskine, and Brendan Kelley, Head of Provider Sales at Benify, as they shared their experiences and recommendations around digital participant activation and how to help consumers make informed decisions.
Most participants are often overwhelmed by difficult and complex choices when securing the foundation for a better pension and stable finances in the future. This leads to inactivity when examining their retirement savings situation. Important challenges that life and pension providers therefore face is how to communicate effectively to foster greater awareness of the importance of life and pensions, but also how to activate participants to make informed decisions.
Participants today expect to receive help and support as they want to “get things done” – well before retirement. With innovation and new techniques, there is a lot that life and pension providers can do to create customer engagement and help participants make profitable decisions.
Success factors for participant activation – main key take aways
- Keep it simple, consistent, and clear
- Decide which game elements or interventions you are setting in
- Set achievable goals – use tiny steps
- Offer a personalized, relevant, and timely experience
- Trigger the behavior
- Create content that is valuable and interactive
- Use dashboards to visualize the risks – this creates a sense of control
- Make it fun – participants are more likely to engage
Watch the webinar to learn more about the significant drivers, best practices, challenges, and opportunities that come with creating digital customer journeys.