“Automated investment advice is in its infancy but will evolve more to play a role in delivering personalised information and services; machine learning, behavioural modelling and segmentation is working behind the scenes and will replace demographic segmentation in the future…”
FST Media: What are your business and digital priorities for the next 6 months?
Sadler: Personalisation of the website using most recent transactions and segmentation data. It will mean dynamic delivery of timely and relevant messages to members. Marketing automation platform implementation, linked to the web platform is also scheduled for the period.
FST Media: What technology or innovation is proving to be the biggest game changer in superannuation?
Sadler: There is no single technology that stands out. Game changing is being achieved using platforms and capabilities in combinations. Automated investment advice is in its infancy but will evolve more to play a role in delivering personalised information and services. Machine learning, behavioural modelling and segmentation is working behind the scenes and will replace demographic segmentation in the future. In the end, the effectiveness of what we’re doing is limited mostly by our own imagination.
FST Media: How are you leveraging big data and analytics to meet industry demand for customised products?
Sadler: We have commenced mapping third party data – investment and economic indices – over member data to understand the external influences on investment behaviour and preference. It is early days and we are seeing trends that require further explanation. This will require additional data overlays on media consumption.
FST Media: How is digital disruption transforming the focus of the superannuation industry?
Sadler: Disruption is primarily being seen in components of super rather than across the sector itself. Examples are platforms and product offerings pitching to specific niches and being built around a narrative and simplified interfaces for mobile devices. In short, the disruption is occurring in the way super and financial advice are distributed.
FST Media: What are the key challenges for Equip in the current competitive marketplace?
Sadler: We are challenged by low brand awareness in the consumer space, so we choose to compete for new employer business, which promotes our distribution capability. From there, it is a matter of providing an enhanced member experience in order to promote advocacy and optimise retention among the members we have. The secret to that is a combination of making it easy to do business, inform and enable better members to make the most of their super, and timely interventions driven by data insights.
FST Media: What is the next big thing for Equip?
Sadler: In a word, its growth. We are a fund that is growing and this includes all aspects of our business whether that be members, FUM or services such as financial planning.
FST Media: What are you hoping to achieve from your panel discussion at the FST Future of Superannuation conference?
Sadler: Super is a vital part of our economy, social and personal well-being and outstanding national savings achievement. It has enabled ordinary people to share in the wealth generated by our leading companies, property development and infrastructure. If we can contribute to building community awareness of the important role super plays in people’s lives, that will be a great outcome.
FST Media: Where do you look for emerging technology trends?
Sadler: Within and outside the industry, both here and overseas. Ensuring we employ a diverse group of people who bring different perspectives and experience to our business is a key part of that. We’re very proud to have employees from Australia and overseas, who are of all different ages, well educated, engaged in what we’re trying to achieve and who trust and respect each other.
FST Media: What is the best career advice you have received?
Sadler: Say yes to opportunities as they arise, be adaptable as change is a constant and focus on adding value and implementation.
Justin Sadler will be speaking at The Future of Superannuation in Sydney 18 May 2017. View the agenda here.