March 2013: Electronic Delivery Services

This Annuity Monitor Report evaluates the private electronic delivery services offered exclusively on our coverage firms’ websites. The eDelivery services of the 14 Annuity Monitor firms were analyzed on the following key criteria:

  • The accessibility and organization of private electronic documents and eDelivery services.
  • The types of eDocuments being offered and available for eDelivery.
  • The preferences and process of enrolling in eDelivery.

Overall,
Annuity Monitor firms generally offer a good selection of eDelivery services to clients on the private website. Firms provide easy access to eDelivery preferences and eDocuments, and clients can complete the eDelivery enrollment process from a single page.

 

The majority of firms in the report provide clients with at least four document types available for eDelivery. Most firms also do an impressive job of positioning the eDelivery preferences and eDocuments on the private website either through a main menu link or a private homepage link. Of the 14 firms covered in this report, only six offered access to eDocuments through links on the homepage and five firms provide access to the eDelivery preferences directly from the eDocuments page. Documents available for electronic delivery are generally plentiful, but vary across firms. Roughly 64% of firms make at least four document types available for eDelivery, and only one firm offers fewer than three.

 

Every firm covered in this report offers clients the ability to enroll for eDelivery and update document delivery preferences online. Twelve firms provide users with a confirmation screen upon enrolling for eDelivery or updating document delivery preferences. Additionally, 57% of
Annuity Monitor firms are currently promoting eDelivery services via imagery or sweepstakes/rewards online.

Additional key findings include:

  • Nine out of 14 firms enable customers to view documents available for eDelivery on the private website dating back to the annuity policy’s inception.
  • 71% of firms allow clients to elect to receive statements, prospectuses and confirmations electronically.
  • All but one firm enable clients to opt-out of eDelivery online.