Michael Bailey: What sort of sponsorships are you undertaking?
John Jones: We’ve entered into a sponsorship arrangement with V8 Super Cars, and through two teams. The newer insurance arrangements don’t roll out until July 1, so there’ll be a fairly intense period in the lead up to that. Part of the exercise has been to develop and recognise a partnership with an insurance provider that we trusted. And that was MetLife…We were only half way through our arrangements with MetLife when we decided that we wanted to review our insurance arrangements and we had got to a point with MetLife where there was a level of understanding and trust between us. It will be multi-faceted…direct campaigns as well as some linked advertising arrangements.
Michael Bailey: How are you trying to make it real for people to look at this and maybe consider? I’m assuming the aim is that people will assess their needs and if need be top up from the default?
John Jones: I think we’ve got to engage them first to get them to even think about what their needs are, and that’s part of the challenge. And I don’t have any easy answers about that. We’ll be writing to members, trying to contact members through contact centre web site. All the usual sort of marketing and communication exercises. But in the end it’s trying to help them to make a decision. We’ve got a distribution group of business development managers and imbedded planners with IFFP, and of course a fairly extensive contact centre. And all of those sources or resources will be used in terms of promoting the insurance arrangements.
Amanda White: Obviously all the funds look at their membership demographics. Can anyone else make some comments on targeting different groups of members for those that have a wide range of members. I mean John’s quite lucky in a way that they are all of a similar demographic that you can target in that way. But perhaps Julie, your fund might be a very broad ranging group of members. Do you target them in particular ways with communication particularly?
Julie Lander: We did some broad ranging research on the fund, satisfaction of the fund and what people wanted from the fund, and what their awareness was etc. And we actually found that insurance made it on the radar for middle aged people and not younger people and not older people. Maybe the older people felt I’ve got other assets and insurance and it’s going to be too hard to get insurance or whatever. The younger people as we know are just not connected. But we have now, even just this year, segmented our membership for our midyear magazine which goes out with the midyear statement. So we’ve got four versions of that which were pretty much aged based. And so we did address insurance in different ways in each of those magazines.