Telstra subsidiary Kaz today launched a new SMS messaging service for the superannuation industry dubbed Australian Administration Services (AAS).
It allows SMS messaging to be used as a vehicle for superannuation funds to communicate via SMS e-mail and the Web in a quick and cost effective manner with members, according to company officials.
Kaz claims SMS has taken Australia by storm with mobile penetration rates in the local market exceeding 81 percent, a rate predicted to exceed 94 percent in 2005/06 with more than six billion SMS messages to be sent in Australia, according to the Allen Consulting Group.
Kaz is keen to exploit the introduction of superannuation choice legislation in the industry on July 1, 2005 recognizing organizations are seeking innovative solutions to win business.
AAS managing director, Stuart Korchinski, said that since the introduction of legislation super funds have been looking to provide value-added services to their members to differentiate themselves from their competitors.
"This is a strong example of how our technology expertise leverages off Telstra's capability to deliver the desired value-added services for our clients," he said.
SMS can enhance processes by sending an employer a reminder SMS advising that their contribution payments are outstanding, instead of calling them.
For members, SMS can be used to confirm that their contribution payments have been made. From a communication perspective, SMS can be used to inform fund members, acquire new members, deliver performance results, manage relationships and build loyalty among members and employers.
TwuSuper marketing manager Melinda Primmer said the organization recently began sending information to members via SMS.
"The results were great. With a majority of our members working in the transport industry and highly mobile, the traditional marketing communication channels are not as effective at getting news across," she said.
"With SMS, we reach our members wherever they are, so there is a strong likelihood that members will read the messages we send to them."