A single members' platform for three pension funds
With the help of Magnetix, Forca has launched a new, responsive and personalised member universe. The solution sets new standards for member-oriented, digital pension communication.
Very few people know Forca, despite the fact that more than 1 in 7 Danes of working age use the company and its services. Forca is the management company for three of the biggest pension funds in Denmark: Lærernes Pension, PBU and PKA. With the help of Magnetix, Forca has constructed the new digital foundation for their member communication.
The three pension funds, which manage the occupational pension schemes of approximately 500,000 members – school teachers, kindergarten teachers, nurses and related professions – wanted to reduce expenses, while improving communication with their members.
Lærernes Pension, PBU and PKA could already pride themselves on some of the lowest administrative costs in the sector; and the lower the administration costs, the more money there is for the members’ pensions. But nothing should ever be at the expense of excellent service for members. That was the dilemma Forca faced.
Digitisation should provide better service for members. And preferably be cheaper and more efficient as well.
Before the new platform was created, the three pension funds had a joint membership portal. It was excessively cumbersome to update and not suitable for the publication of on-going content. Meanwhile, there were three independent sites that lacked synergy, joint development and shared resources. The new solution consolidates everything on a single joint platform, which gives the companies a much more dynamic environment in which to provide services for their members.
The same solution has redesigned the pension funds’ self-service tools, making them much more comprehensible and providing a significantly better user experience. As a result, the joint platform makes it much easier and much quicker to provide digital services for members, while also providing better information and substantially raising the level of service.
In addition to facilitating self-service, another goal was to bring personally relevant information as close to the individual as possible. The platform personalises content and information on the basis of each user’s data. This prevents members from drowning in irrelevant information, and instead provides them with the exact knowledge they require in their particular life situation. This applies to both the closed universe behind authentication and the open information universe. The three companies share the personalisation logistics - an excellent example of the streamlining inherent in the solution.
reduction of bounce rate