The extent and quality of technological assistance offered by Russell Investments’ iQ Super product has helped it win Best Commercial Personal Product at the Super Fund of the Year Awards in Melbourne last night.
The Heron Partnership judging panel praised iQ Super’s updated website, high touch service, and voice contracts that enable account consolidation over the phone, thereby removing the need for paperwork.
The judges also noted new initiatives from the product, including a retirement tracker, personalised to-do list, and an “innovative” Retire Ready program. Russell Investments has signalled that there are more initiatives planned to further improve member engagement too.
Head of strategic partnerships at Russell, Nicki Ashton, said that technology was a core part of helping engage members.
“We’ve spent so much time, money and effort working out what our members want … and technology and knowledge is a key part of that. It’s helped us [share information on] our insurance offering and simplify information on retirement and superannuation,” she told Super Review at the awards night.
The firm’s insurance manager, Justin Vo, said that the product helped make sure information was “in members’ language”.
“It’s amazing to be recognised. Our team has put in a phenomenal effort over the last decade at working out what members need and using technology to deliver … what they want from retirement,” Ashton said.
When judging, Heron focused on depth of features, which then impacted flexibility and appeal, long-term investment performance, and competitiveness of premiums and costs.