Superannuation funds must re-engage members through the means by which they were already captivated, Suncorp Life chief executive Geoff Summerhayes said yesterday.
Using the techniques and rewards of computer games and social networking – ‘gamification’ – at the same time as MySuper was introduced was the key to improving trust and confidence in the industry.
“Strings of industry awards for customer engagement are effectively meaningless and gloss over a big issue and challenge for our industry,” Summerhayes said.
Elsewhere, banks would appear to be leading the way in financial services at present. For example, Commonwealth Bank of Australia’s (CBA) Investorville online game simulates ongoing costs in property investment, without putting customers’ capital at risk.
While CBA would not confirm costs and return, InvestorDaily was told the project costs were around $400,000 and the game generated about 600 loans.
The ‘game-ified’ tool combines market insights from RP Data and web-based technology to mimic real-time exposure to the property market.
Investorville was aimed at existing homeowners who might not realise their potential to invest in real estate, as well as those who already owned an investment property.
Commenting on super funds’ use of gamification to engage members, Brainworth chief executive Ben Sand said: “Generations are developing an expectation of rich visuals, instant feedback and personalised experiences and this demand has not been satisfied.”
The virtual worlds Brainworth was creating let players set targets themselves, with the game-world providing a series of levels between their current and desired skills, he said.
“We use game mechanics and applied social psychology to keep people engaged, sharing, learning and growing together. Our system does far more than merely provide a series of lectures to listen to or problems to solve,” Sand said.
