1 Your team, here today Ted Singeris Katherine Saarlaid Kathleen - - PowerPoint PPT Presentation
1 Your team, here today Ted Singeris Katherine Saarlaid Kathleen Stankowitsch VP, Client Relationships & Client Relationship Executive Business Development Implementation Project Manager Michael Carter Allan Porter Carol Edwards
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Ted Singeris
VP, Client Relationships & Business Development
Kathleen Stankowitsch
Implementation Project Manager
Carol Edwards
Regional Director, Business Development
Katherine Saarlaid
Client Relationship Executive
Michael Carter
Director, Digital Innovations
Allan Porter
VP, Chief Information Security Officer
Ella
Virtual Coach
Driving better member outcomes Strong execution track record Providing Honeywell with peace of mind Innovation excellence
Helping Clients achieve lifetime financial security and live healthier lives
It’s in our DNA
Plan Sponsor Partnership Advocacy Ignite Studio Member innovation myWellness Rewards Client Service Model
Just start Invest and invest smart Use your match Save extra – when you can
$25 monthly contribution increase
with an employer match
Simple change in investments –
2% increase in ROR
Investing 10% of annual bonus
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What’s next in engagement?
Eng ngage age
In person
Plan Members
Paper
Nudge Take e action
Be Better ter
67% increase in mobile visits (total
visits)*
Web App Phone
*Year over year December 2017 to December 2018
Ella is caring, optimistic, & knowledgeable Intelligence-based technology & analytics Right information to the Right member at the Right time Virtual coach & Digital assistant Behavioral Economic principles and Big Data
Ella has surfaced 7.5M personalized messages and nudged an additional $400M member savings*
Artificial Intelligence at Sun Life
*Source: Sun Life Financial universe of plan members experiencing Ella January 1 – December 31, 2018
“We are very pleased with Katherine and the entire Sun Life team. We worked to build valuable working relationships which has significantly improved our plan administration." - Aecon
Additional nal support rt:
Executive Partner • Regional Vice President • Shared Services Team
Cl Clie ient t Rel elat ation
hip Exec ecuti utive ve – Kat Katherin herine Saa Saarla rlaid id
Implem plementat ntation ion Project ect Lead- Kathleen hleen Stank nkowit
sch Account nt Mana nager ger – Patti Scherbi erbinsk nsky
new plan is implemented smoothly
assisting with key decisions on plan design, payroll, file transfer, investments, and enrolments.
Cl Clie ient nt ser ervi vice team eam
Responsible for day-to-day plan administration • Orchestrates processes and transactions for your plan based on your unique plan design
Member mber Experience erience Cons nsultan ultant t – Catharine harine Tauri riss sson
planning, strategy and services
Katherine Saarlaid to deliver on your communication vision for your members
Katherine Saarlaid and your plan
initiatives, projects, and changes
DPSP EPSP TFSA RRSP / SRRSP LIRA
Honeywell Savings Plan (active plan) Flexible Pension Plan (closed)
Setting a strong foundation
Defined Contribution Pension Plan* (closed)
*Four separately registered pension plans
Measurex Union Savings Plan (active plan) Speciality Chemicals Unifor (closed) Speciality Chemicals Teamsters (closed)
Implementation project team
SUN LIFE PROJECT LEADERSHIP TEAM
Implementation Project Manager Kathleen Stankowitsch Client Relationship Executive Katherine Saarlaid
SUN LIFE PROJECT SUPPORT TEAM
Education & Communication Catharine Taurisson Project Solutions Manager LeeAnne Anderson Client Data Solutions Team Andrea Grant and Monica Babensee Administration Lead Kelly Clay
and education strategy
meetings
program
reporting: requirements, build and test execution
at implementation
readiness
guidelines
assurance
STEERING COMMITTEE
Ted Singeris Executive Partner Katherine Saarlaid Client Relationship Executive Kathleen Stankowitsch Implementation Project Manager
Welcoming your existing members
Data Gathering & Validation process
Receive test file
(1-2 months prior to live data) Receive live data Primary audit (File feeds team) Data is uploaded to Sun Life system
ONE TIME:
Sun Life contacts other carrier/ Honeywell if clarification is required
Secondary audit
(Admin team)* * Additional relevant sample size audit will be performed. 100% accuracy required on sample. Otherwise further testing is performed.
Validate test file Create data load Member data loaded
Transition support
It starts with a customized announcement from Honeywell senior leadership about the move to Sun Life Announcement email
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Welcome email Sun Life sends the transitioning member a welcome email that includes a link to help them register for their website access They will also be provided links to detailed transition materials
1. Honeywell announcement 2. Welcome email 3. Ella 4. Education sessions 5. Download app
Member journey
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Education sessions and Client Care Centre support Eng ngage age Nudge Take e action
Members attend an education session in person
Our Client Care Centre provides guidance and answers questions. Members can connect via:
Transition support
Ella encourages your transitioning members to become familiar with all the tools and resources available to them
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Ella welcomes members
Eng ngage age Nudge Take e action
Transition support
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Download app and sign in Members download the app and set up their access Top rated group insurance app:
“Usually I do everything online, but the call from Sun Life to ask if I had any questions (and remind me to enrol) was so helpful.” – Sun Life member
New plan members
Honeywell sends Sun Life a demographic file Employee receives a welcome email with a link to join the Honeywell plan. Employee is ready to enrol
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Employees register for sunlife.ca
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Employee joins the plan
1. Welcome email 2. Join plan 3. Ella 4. Welcome call 5. Download App
Member journey
New plan members
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Welcome call and investment guidance New hires will enjoy our welcome program. They’ll receive a phone call from a Sun Life financial service consultant to help them enrol, answer their questions, and provide information to ensure they understand and participate in their plan
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Ella notifications Ella will nudge them to get comfortable with their new tools Ella provides valuable nudges to help your member make the most of their plan
Did yo you know?
Ella has increased Client engagement by 50% (transacting, clicking to learn more and other positive actions)
New plan members
1. Welcome email 2. Join plan 3. Ella 4. Welcome call 5. Download App
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Employees download the mobile app Members download the app and set up their access Top rated group insurance app:
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Did yo you know?
changes to their plan would not have done so without re-enrolment
Members have access to wealth of online educational resources:
allocation tool, retirement planner, investment profile manager and financial planning and retirement savings calculators
Online resources and calculators Targeted email campaigns We can offer Honeywell holistic financial check-up campaigns or additional targeted campaigns to focus on areas of concern. Our digital solutions can produce member emails or
communicate and encourage members to review their plan.
Eng ngage age Nudge Take e action
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Ella and website notifications Our proactive digital coach, Ella, is here to provide your members with a relevant and personalized experience. She provides tips and
manage their money
Did yo you know?
give a rating of 5 or 6 out
webinar facilitators
Digital campaign tool Our digital campaign tool reminds members to review and revise their plan details. Universal and custom campaigns are available
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Individual consultation (face to face / phone) In-person group sessions also can be supplemented by one-on-one meetings at your locations or by phone.
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Did yo you know?
financial knowledge as fair or poor
Financial wellness seminars Financial wellness webinar seminar topics include:
and finances
essentials
closer look
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Eng ngage age Nudge Take e action
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Summary of all plan transactions, investment information updates, with rates
Includes customizable messaging zones, as well as targeted, member-specific calls to action – ensuring that each plan member’s statement is relevant to them Member statement Flexible decumulation
Members are well- supported for their retirement income needs:
plan
income plan
income plan
Eng ngage age Nudge Take e action
Inbound and Outbound support for plan members age 50-70 Members set a retirement income goal and we help them with readiness and create a Retirement Income Roadpmap
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Money for Life Retirement Journey
“Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet.”
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Chief Information Security Officer Engineering Incident and Vulnerability Management Access Governance Cyber Forensics and Investigations Security Operations Architecture and Strategy Governance and Awareness Risk Advisory Security Analytics Program Management External partners providing support: Mandiant, IBM, and CrowdStrike
Our strategy leverages multiple technologies to protect both information and operating environments from cyber attacks
Perimeter Security
Protect external systems from cyber attacks. (e.g. distributed denial of service, web site compromise.)
Internal Security
Protect internal systems and employees from a cyber attack. (e.g. advanced malware, phishing.)
Security Analytics
Leverage event data to improve monitoring controls, investigation, reporting, and response capabilities.
Security Organization
Recruit and maintain a high performing team
professionals.
Security Process
Develop and maintain effective and efficient security processes to support the
Cyber Intelligence
Collaborate and share data across industry sectors to proactively manage and mitigate cyber threats.
Employee Awareness
Assess, educate, and frequently test employees to reinforce effective cyber security practices
Cyber Intelligence is the tracking, analyzing, and countering of digital security threats.
Automation Artificial Intelligence Analytics
“The Sun Life team was knowledgeable, provided the right support, responded in a timely manner, adjusted scope based on
transition in an impeccable fashion.”
Partnership (CPC, focus groups) Implementation Compliance (CAP and audit) Administration (recordkeeping) Better outcomes (reporting)
Monitor Execute Plan
GO LIVE
DEC FEB MAR APR MAY
Honeywell involvement
Approve ½ day to 1 day Review and approve 3-4 days Review and approve 4-5 days
Data transfer Readiness Communications and education File interfaces Discovery meeting System set-up Plan design approval Asset Transfer Status update meetings
1-2 hours weekly
JAN
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Overview
With approximately 3,000 members nationally, Purolator chose Sun Life as their partner and transitioned their group retirement plan to Sun Life. Our team assessed the scope of work and identified and resolved potential challenges.
The Challenge nge The Soluti tion The Re Result
Payroll provider not able to develop interfaces for launch. Interfaces for exchange member data with two different 3rd party providers would need to be developed
that would be able to accept our payroll files
interim process whereby the client was able to remit data on our Plan Sponsor website
member contributions and the member experience
The Challenge nge The Soluti tion The Re Result
After reviewing our Group Benefits data and 3rd party provider files, we identified several hundred records that were not properly identified via the Manulife data
communication to inform these individuals of the changes and impact
experience
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rated their implementation experience 9 or 10
Detailed implementation plan, critical path, action log Best practices Regular updates
Proven methodology
Validated by industry experience
New client implementations in 2018
Transitioned members in 2018
Natalia Caetano Director, Core HR Programs & Services Parmalat P: (416) 620-3065 M: (905) 510-5660
natalia_caetano@parmalat.ca
Brad Wallace Senior Director, Compensation & Benefits Aecon Group Inc. P: (416) 297-2600 M: (416) 735-7854
bwallace@aecon.com
Colleen La Civita Director, Total Rewards Lafarge Canada Inc. T: (905) 629-5444 M: (416) 560-3865
Colleen.lacivita@lafargeholcim.com
Jennifer Boyd, CHRL Manager, Pension & Benefits Purolator P: (289) 998-6357 M: (416) 709-9219
jennifer.boyd@purolator.com
Driving better member outcomes Strong execution track record Providing Honeywell with peace of mind Innovation excellence
Helping Clients achieve lifetime financial security and live healthier lives
Honeywell Solution Centre: www.sunlife.ca/yourneedsourfocus Username: HONEYWELL Password: SLF2019
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Next generation of recordkeeping: the evolution of global
even better digital experience
for information and transactions
security of system
based functions
sponsor tools
such as plan member enrolment
GLOBAL, our recordkeeping system, securely houses member related data for more than one million DC plan members Key features include:
reconciliations, transactions
large Canadian CAP clients
Client Care Centre: Accessible over the phone and online
Understanding the plan • Review Investment Options • Get enrolled • General inquiries • Information updates • Investment changes • Withdrawal requests
Foundational Optional
Digital Nudges: Available online and via Client Care Centre (nudges presented to reps)
Proactive digital coach • Provides relevant and personalized experience
Supporting your members wherever they are in the way that suits them best
In-person sessions and webinars: Available in-person and online
Enrolling in workplace plan • Value of workplace plan (including GB if joint) • Transition and change • Customized presentations for plan sponsors that have a client-specific RRIF/LIF program
Licensed live support – In plan financial and retirement support: Available over
the phone or in person Understand the plan • Get enrolled • Plan maximization Investments • Financial planning • Consolidating assets • Budgeting • Retirement Income Roadmap • Income planning check- ups • Plan adjustments as circumstances • New income product opportunities
Investment Advice: Available over the
phone Assess risk tolerance • create asset allocation mix from the funds offered by their employer-sponsored group plan.
Inbound / outbound Welcome:
Available over the phone or online Enrol in plan • Answer questions • Provide information
Holistic advice: Available in person, over the phone or online
Financial literacy sessions • Full financial planning • Written financial plan • Group plan advice • Investment advice • Retirement income projections • Retirement planning • Group sessions or One-on-one • Estate and Tax Planning
Registration enhancements: simplification & user interface changes Contact Info & Addresses Health and wellness offer hub: myWellness Rewards GRS webpages updates: Balances, Transaction History
Q1 & Q2 Q3
GRS webpages updates: Account Fees Retirement Planner re-design Budgeting tool
Q4
2019 member innovation calendar
Innovation initiatives Web Mobile app Voice assistance
Secure Key /verified.me integration for registration Personal rates of return Digital coach: Ella Share provider - Digital Health Solutions Mental health - new provider category added GRS Voice Alexa device integration with member account GRS webpages updates: statements, personal ROR, RRSP contributions info, RRSP receipts, tax slips Improvements to Payroll page: user interface & goal Enrolment including Payroll: with ability to edit contributions Integration of goal dashboard on personal webpage (my Plan) Enrolment: ability to change investments Investment portfolio changes (fund changes) eBeneficiary - Group Benefits clients More Ella Retirement readiness benchmark Exploring new annuity income solutions
2020
Voice of Canadians and employers
Regulators and Policymakers since 2008
Simplified Enrolment
a practical picture as to how solutions could work
ALDA (Advanced Life Deferred Annuity)
retirement, but payable at age 85.
VPLA (Variable Payment Life Annuity)
investment and mortality risk pooling
Included in March 2019 Federal Budget