A recent study* by AMP found that financial stress impacts two in five workers during their careers and costs Australian businesses an estimated $31.1 billion per year in lost revenue. In an on-demand SS&C podcast hosted by Shaun McKenna Senior Director – Product, Sales and Client Relations, SS&C Technologies, we discuss the issue of financial wellness with our guests Steve Freeborn, Head of Superannuation, Rice Warner, and Shannon O’Shea, Partner and Head of Member Services, Aon, and address ways Superannuation funds can support the financial wellness of members.
The podcast provides insights into the current activities being provided by Super funds in terms of wellness programs, as well as emotional and financial frameworks that encourage healthier and happier lifestyles. Insurers believe that healthier lifestyles lead to fewer claims, so wellness programs take a broad, holistic view that includes various aspects of what wellness can mean, like emotional and physical as well as financial wellness. We are also provided with insights into Aon’s smartMonday product that includes a series of smart and easy actions to help improve the financial wellness of Aon’s members.
As part of this discussion, McKenna provides details of SS&C platforms and technology that can support Super funds seeking to provide relevant content and greater personalization for members looking for financial wellness tools and information. Relevant and engaging content is the key to creating a positive customer experience that empowers members to make more confident decisions about their financial wellness.