Sun Life to launch industry-first wireless enrolment for group retirement plans in Canada
TORONTO, Nov. 5 2010 – One of the greatest challenges for employers who offer group retirement plans is getting their employees to take action. Sun Life Financial is developing an easy and immediate solution – wireless enrolment using the new BlackBerry® PlayBook™.
Too often employees attend enrolment sessions, walk away with forms and enrolment instructions and the best of intentions – but then don’t enrol. The result is a missed opportunity to save for their future and take advantage of key benefits. With Sun Life’s new wireless enrolment program, employees will be able to enrol on the spot – no paper, no delays, and no hassles.
“Our vision is to make the enrolment process as simple and easy as possible,” said Senior Vice-President of Group Retirement Services at Sun Life Financial, Tom Reid. “Employees who attend enrolment sessions will each have access to a BlackBerry PlayBook. Our Education Specialists will take them through the plan design, explain the benefits and walk them through the enrolment process. They will be able to use the PlayBook to instantly input all enrolment data.”
When the employee hits “Submit” at the end of the process, the data will be transmitted wirelessly and securely to Sun Life systems for direct processing.
In the U.S., where wireless enrolment has recently been introduced, it has increased registration rates up to 90 per cent, compared to typical sign-up rates closer to 50 per cent with more traditional methods. The use of innovative devices such as the BlackBerry PlayBook will only make the process easier and more attractive for employees.
“Saving for the future is a positive financial step, and employees know it,” said Reid. “Wireless enrolment allows employees to take immediate action through a very simple process.”
“We’re thrilled that Sun Life has chosen the BlackBerry PlayBook to roll out their new wireless enrolment program,” said Jeff McDowell, Senior Vice President, Enterprise and Platform Marketing, Research In Motion. “The BlackBerry PlayBook will put enrolment literally in the hands of employees with an application that’s easy to understand and simple to use.”
Sun Life’s award-winning group retirement education program integrates print, online, and in-person education options to reach as many plan members as possible. In 2009 alone, Sun Life conducted over 3,000 education sessions. Group retirement services plan members will soon have access to wireless enrolment, transforming these education sessions to “take action” sessions.
This simple application of wireless technology ensures that more employees than ever can take advantage of key benefits such as employer-matching contributions, low investment management fees and easy payroll contributions. This is the first of many technological innovations that Sun Life has planned to increase member awareness of their wealth, health and life insurance plans.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of September 30, 2010, the Sun Life Financial group of companies had total assets under management of $455 billion. For more information please visit www.sunlife.com.Tags: benefits, Blackberry, retirement planning & savings, Sun Life