Retirement Services
Industry Solution Templates

Intense competition for a shrinking pool of retirement assets.  Turbulent financial markets.  Rising customer service expectations combined with increased cost pressure.  New forms of regulatory scrutiny.  Retirement services companies are under pressure as never before to retain assets and deliver increasingly personal service.  These issues are complicated by the underlying demographic trends, which are shifting assets from accumulation and growth to preservation and distribution.

Retirement services companies are meeting these challenges with a combination of innovation and cost management.  DecisionPath believes that business intelligence has an important role to play in driving changes with measurable ROI and fast paybacks.

While the challenges involved are often substantial, many performance and process improvements can be accomplished by making better use of plan and member information, and advanced analytical tools. 

To help our clients leverage enterprise data and applications, DecisionPath Consulting has developed customizable retirement services industry solution templates that can jump start improvement in many of the business processes that are vital in today’s challenging retirement services environment. 

Leveraging our retirement services industry experience, our broad functional experience, our Six Sigma-based process improvement methods, and our high caliber BI and BPM skills, DecisionPath has developed five Retirement Services Industry Solution Templates that enable companies to solve common industry challenges and jump-start process improvement initiatives. They can be specifically tailored for your company to provide a solid foundation for business intelligence solutions.

Plan Sponsor Marketing Analysis

• Understand the impact and value of plan sponsor marketing efforts
• Analyze response rates and close rates by campaign
• Measure incremental lift from campaigns compared to baseline sales
• Manage marketing campaign costs
• Estimate return on marketing investment

Individual Customer Marketing Analysis

• Analyze individual customer attributes and preferences to target specific campaigns based on life stage, life event, etc.
• Focus on increasing individual customer value, retaining customers, and retaining assets
• Measure effectiveness of individual marketing channels
• Understand campaign costs and results to measure return on investment

Sales Analysis

• Measure long-term value of sales – duration of clients, projected vs. actual deposits
• Understand sales trends to optimize plans and pricing
• Measure accuracy of sales pipeline estimates to improve financial forecasting
• Analyze sales by channel to identify best performers
• Compare sales with acquisition costs to measure profitability
• Forecast internal sales resource needs

Product Management Analysis

• Measure profitability of individual products by analyzing revenues and costs
• Evaluate enrollment, participation, deferral rates, and lapse rates by product
• Integrate financial information to make better product design decisions
• Optimize product pricing and profitability by evaluating accuracy of pricing assumptions
• Analyze how product profitability varies across different clients

Financial Analysis

• Measure budgets and variance across departments and at the corporate level
• Gather input to pricing that ensure products, features, and customers are priced profitably
• Design transfer pricing that correctly assigns both cost and revenue
• Manage key drivers of cost structure
• Identify financial risks and ensure ongoing solvency

For more information about our Financial Services Industry solution templates, please send us a note at FinancialServicesIndustrySolutions@DecisionPath.com.