February 2019 – #SelfCare: Self-Service Account Maintenance

​Online self-service capabilities benefit both account owners and firms. As their addresses, family members or preferences change, account owners need quick and straightforward ways to keep account information accurate. As 84% of banks allow online servicing for all major changes, account owners will expect the same options from annuity providers. Online capabilities allow immediate changes and spare account owners the need to call, email or send mail to firms. When self-service capabilities are easily findable and usable, they preempt calls to customer service, saving firms time and money. This Annuity Monitor Report evaluates the contract information and profile update capabilities of the 18 account owner sites in our coverage group.

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