April 2015: Private Site e-Delivery and e-Documents

From the standpoint of an account holder logging into the private site, this Annuity Monitor Report examines the e-delivery services and electronic documents of 16 firms in our coverage group. The report focuses on the e-delivery enrollment process, including ease of completion, document selection and delivery preferences. The report also evaluates online account documents as an extension of the e-delivery service, examining the location and presentation of documents.

Specifically, this report focuses on the following criteria:

  • Location of e-delivery and e-documents
  • E-delivery enrollment process
  • Online account documents

A total of 16 Annuity Monitor firms offer e-delivery services on the private site. Most firms provide adequate e-delivery service, with document customization and manageable platforms. Four firms, however, excel in providing intuitive enrollment processes, and ample document selections that extend beyond account statements and regulatory documents. Three of these firms also let clients unsubscribe from marketing emails in the same e-delivery enrollment process.

In terms of enrollment process, the most efficient allows clients to choose the delivery method for individual account documents – a feature currently offered by 75% of firms. Of these firms, 32% offer a seamless, one step process. Two firms, for example, allow clients to enroll various documents in e-delivery and sign up for marketing emails in one location, in one step. The type of documents eligible for e-delivery vary: a majority of firms provide regulatory documents (94%), account statements (88%) and transaction confirmations (88%).

When examining the online document platforms, four firms offer both sort and filter options within the online document platforms, making it easy to manage accounts. Separately, nine firms provide document archives of over five years. Providing a manageable online document platform is vital, as clients contemplating the switch from paper to electronic delivery can rest assured that they will have access to a comprehensive documents platform.

Additional key findings include:

  • One firm is currently running an e-delivery sweepstakes promotion.
  • Six firms allow clients to sign up for marketing emails.
  • Nine firms provide document archives of over five years.