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Empirics partners with IXUP to launch secure data collaboration platform for super industry

By |August 31st, 2016|

Data collaboration platform will deliver member insights and analytics giving super funds deeper understanding of member behaviours
Sydney, 31 August 2016: Leading data specialist Empirics today launched MarketSuite Alliance, a platform which enables super funds and their business partners to collaborate with their data in a highly secure and encrypted environment, to help improve member retention and satisfaction.
Empirics, part of Link Group’s Information, Digital and Data Solutions division, provides data visualisation, analytics and communications services to 26 major super funds in Australia. The Marketsuite Alliance platform has been developed as part of an exclusive partnership agreement between Empirics and leading technology software provider, IXUP.

MarketSuite Alliance allows super funds to collaborate and match customer data in a secure environment with partner organisations. The platform’s technology compares the super funds’ existing data with external data while it is in an encrypted state, and then produces de-identified insights that both companies can see, without compromising the security or privacy of the data.

Super funds and their partners will effectively have joint visibility of customer demographics, via an easy-to-use portal, enabling more informed decision making on potential lead generation opportunities. The data can also be extracted into other platforms, such as marketing automation platforms.

Empirics Chief Executive Officer Darrell Ludowyke said: “The new platform was developed in response to the increasing demand from super funds to more effectively gather and use external data to better understand and retain their members and assist in finding new prospects.

“MarketSuite Alliance gives super funds an unprecedented level of insight into both their member base, and the customer base of their business partners.

“As an example, a gym that targets females aged over 50 may want to partner with a super fund to offer discounted rates. The gym and […]

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Super member retention driving demand for predictive analytics

By |December 11th, 2014|

Analytics specialist Empirics adds Australian Ethical Super to its growing line-up of clients
Sydney, 19 September 2014: Australian superannuation funds are increasingly competing for members though the use of data analytics to target and predict member behaviour, according to leading data specialist Empirics.
Empirics today added the $900 million Australian Ethical Investments as its latest client, adding to a raft of super fund client wins over the past year.
Empirics Chief Executive Officer Darrell Ludowyke said the company’s proprietary predictive analytics capability addresses growing demand from funds both large and small to drive more effective member retention strategies.
“We’re seeing a real surge of interest from funds who are moving on from reporting, which essentially looks backwards, to using predictive analytics to look forwards and see what these insights can do for their fund, particularly how they can help engage and retain members.
“We are very pleased to be working with a fund like Australian Ethical, as it’s a unique offering that promises to invest members money in a way that aims to not only help members maximise their retirement income, but also to invest in positive, sustainable change for society and for the environment.”
“We believe the growing understanding of our services among super funds like Australian Ethical demonstrate the maturity of the industry,” Mr Ludowyke commented.
Mr Ludowyke said the industry is changing rapidly, “driven by increased competition and legislative changes, with funds having to work much harder to retain disengaged members who are consolidating their super elsewhere, rolling out or moving to other investment vehicles such as SMSFs under the advice of financial planners”.
Australian Ethical Head of Marketing Paul Smith said the fund decided to appoint Empirics due to the team’s experience and proven track record in applying analytics […]

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Super funds are ‘missing’ in social media conversations on superannuation

By |December 5th, 2014|

SMSFs currently winning superannuation debate on social media.
ASFA CONFERENCE, MELBOURNE: 13 November 2014: Australian super funds are absent from the vast number of social media conversations on superannuation, and must engage or risk being left out of the debate, according to new research from leading data specialists Empirics.
Speaking at the annual Association of Superannuation Funds of Australia conference in Melbourne today*, Empirics CEO Darrell Ludowyke told delegates that SMSFs are currently dominating the share of mind when it comes to social media conversations on superannuation.
“Social media is a significant battle zone for member engagement, and the commitment shown to SMSFs is greater than that of super funds. While the chatter on individual funds is fairly low, consumers are actively engaged on Facebook, Twitter and blogs debating the merits of SMSFs compared with super funds, who to date are missing from the debate,” Mr Ludowyke observed.
“Currently SMSFs are winning that debate and this will inevitably lead to consumers who are weighing up their options being influenced towards SMSFs. Fund executives should be asking themselves – how can we fight back?” Mr Ludowyke asked.
Empirics analysed approximately 40 billion conversations since 2012 to build and refine its Social Media Analytics product. Social Media Analytics aims to help super funds use the data gathered across the full social media spectrum to better understand, analyse and communicate with their members and potential members.
As part of its development, Empirics conducted research into social media conversations in the first six months of 2014 on superannuation, including major super funds and SMSFs. The research found fewer than 100 social media conversations on individual major super funds, contrasted with 35,000 conversations on superannuation, including a dominant share of conversations focused on SMSFs.
Based on its […]

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Superfunds access analytics to retain members

By |September 19th, 2014|

Australian superannuation funds are turning to predictive analytics in a bid to retain members, data specialist firm Empirics has said. Predictive analytics were increasingly being used to target and anticipate member behaviour as competition for members within the super space ramped up, it said. “We’re seeing a real surge of interest from [super] funds who are moving on from reporting, which essentially looks backwards, to using predictive analytics to look forwards and see what these insights can do for their fund, particularly how they can help engage and retain members,” Empirics chief executive Darrell Ludowyke said. “Previously analytics used to mean identifying and segmenting members, however, today we can accurately predict behaviour, inform business and marketing strategies and then track and measure direct causal outcomes.” By predicting client behaviour, super funds were now able to identify members who were most at risk of exiting the fund, as well as those who were most likely to change jobs or acquire additional products and services.
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