The flow-on effect of these results said plenty for their effectiveness: over 6,000 people visited the ‘Check My Cover’ website to learn how they could click, check and protect themselves. The impact was also reflected at the Group Insurance Summit in August, where delegates were asked about the rates at which their members opted-in to their insurance in response to the PYS legislation. As was revealed, more than half of the delegates (56%) had expected fewer of their members to opt-in for their insurance than did, suggesting that the campaign had been more successful in generating awareness than had been reasonably hoped for (35% responded that the opt-in rates were what they had expected; 9% that they were lower than what they’d expected).
While impressive in and of themselves, these results must be seen as part of a wider industry effort to improve the level and quality of engagement with super members. A particularly notable example of this was the industry campaign, ‘Time to Check’ run by associations ASFA and FSC and contributed to by AIA Australia, which encouraged Australians to engage with their super fund in order to better understand their level of insurance cover and the impact it was having on their super balance.
Going forward, a large part of the focus will be on the continued development and promotion of digital tools that enable members to monitor their account activity and keep abreast of their insurance needs, mitigating the risk of Australians being left without adequate cover, and better positioning them to prepare for a dignified retirement.
To find out more about our public awareness campaign, head to checkmycover.com.au