Heywood Pension Tech
Video ABS (annual benefit statements) have emerged as a game-changer in member engagement strategies. By adopting this innovative approach, pension schemes can captivate their members, deliver crucial information, and drive a deeper connection to their pension savings.
Visual Storytelling for Greater Engagement
In today's digital landscape, video has become the preferred medium for consuming content, especially on mobile devices - 75% of people watch short-form videos on their mobile. By leveraging video ABS, pension schemes can tap into this trend, delivering information in a format that members are not only accustomed to but also prefer.
Video ABS can be accessed through a secure website or mobile app, and members can watch the video at any time. They may also be sent to members via email or shared on social media channels.
The Power of Personalisation
Video ABS offers a unique opportunity for personalisation. By tailoring videos to the specific circumstances and needs of individual members, schemes can make the information presented instantly relatable and add exceptional value. Customising the content to align with retirement goals and projected benefits enhances the member experience and strengthens their connection to their pension. This increased engagement can lead to better understanding and directly impact more informed decision-making.
Simplifying Complexity, Boosting Understanding
Access and play videos across your devices, wherever you are. This freedom eliminates the need to wait for printed statements or rely on HR support, empowering members to digest their benefit information effortlessly.
Video ABS from Heywood
Implementing video benefit statements can significantly enhance member engagement, increase the perceived value of pension benefits, and ultimately improve employee retention. This is why we’ve introduced Video ABS to our suite of tools designed to support our clients as they seek to drive engagement with their members.
Our customers are already benefiting from effortless connectivity to our pension administration platform, Altair, with a direct connection running the ABS process as part of standard processing.
Members simply sign on to their account and a video ABS is visible on the homepage. Members are presented with a short video presenting their key pension highlights, with the option to explore their ABS in depth should they wish.
A video ABS is also visible for all years from which a statement has been generated since the introduction of CARE (2014/2015).
But it doesn't stop there. Our video ABS goes beyond numbers; it fosters member
pension education. Context and explanations are provided to enhance their understanding of their financial position now and when they retire.
For pension schemes, valuable analytics track key metrics like video plays and completion rates, empowering you with a deeper understanding of how your members engage with their accounts.
Video ABS helps support clients in their goals to increase member engagement as it offers a new format for them to engage with their members.
Our data reveals that annual benefit statements are a pivotal event for members, and the time of the year when members are most likely to engage.
Contact us today and unlock the full potential of our video annual benefit statements. Let us show you how they can elevate member engagement to new heights.
