Ever since the first mobile app was created in 1997 by Nokia (the popular arcade game snake) and popularized by Steve Jobs, phones have been increasingly using apps. However, some studies have shown that the number of available apps has begun to overwhelm users. A recent survey from Gartner found that 41% of mobile users have not downloaded a new app in the last six months and that mobile users spend 85% of their time on their phones using only five apps. This trend affects Managed Care Organizations (MCOs) and contributes to the growing problem of why engagement rates among members for mobile apps are down. With more than 1.96 million apps available on the app store, this ever-increasing trend is called app fatigue.

The COVID-19 pandemic has driven more businesses online than ever before. With health care plans growing their number of older members, this may not be welcome news. Even though remote mobile service is a growing industry trend, a study from the Pew Research Center found only 26% of internet users aged 65 and over were “very confident” when using smartphones. Optimizing your plan’s mobile design to accommodate their needs should be a key focus heading into 2021.

While every public pension agency has their unique differences, a common purpose unites them: to maintain the financial security of the trust fund and provide exceptional service to external stakeholders. In terms of protecting pension funds, there are numerous investment strategies to close the funding gap: using asset monetization and dedicated revenue sources, issuing well-designed pension obligation bonds, closing tax loopholes, among other tactics. Investment strategies aren’t the only way to maintain the sustainability of the plans, however. By updating the technology that is used to administer pension benefits, pension agencies can ensure financial security while simultaneously achieving customer service excellence.

Technology has changed the face of the world. Especially with the advances made during the last decade. However, if you look at new homes in the U.S., you will realize some outdated technology is still deeply entrenched.  Take, for example, telephone jacks; these still come as a default option provided by homebuilders. But how many of us use these telephone jacks? Technologies like VOIP and smartphones have taken over with aggressive pricing, marketing strategies, ease of use, and business value that cannot be overlooked.

The Public Retirement Information Systems Management (PRISM) conference is known for spurring thought-provoking discussions about how technology can improve public pension systems and this year was no exception. The educational sessions are the primary catalyst for these highly important discussions and this year’s conference in Nashville, Tennessee was chock-full of them. In an effort to move the conversation beyond the conference walls, I, Jordan Bartlett (JB) interviewed two Sagitec employees who attended PRISM to see what they learned.

Did you know that two of three Americans own a smartphone today? Smartphones are used for almost everything today – ordering food, banking needs, shopping online or booking doctor’s appointments. Most industries have realized the potential of mobility solutions and have leveraged it for better customer experience and detailed behavior analytics leading to personalized products and services.

Studies show that mobile app adoption rates amongst older generations are significant and climbing. A recent study (2015) from the Pew Research Center shows that 58% of Americans aged 50 to 64 own a smartphone¹.

MOBIAS Pension is a mobile app that provides your members access to their pension accounts via a downloadable application. MOBIAS differs from a traditional member web portal in that it offers mobile-optimized account access with the integrated native features of a mobile phone (i.e. camera, GPS, phone, email, etc.).  With MOBIAS, the power of self-service is at your member’s fingertips, allowing them to access and update their information anytime, anywhere.

Did you know that there is a mobile application that tells you where you parked your car in a pirate voice? Yes, there’s an app for that. An ARRR-guably useful app for some, what about the benefits for a member of being able to update contact information or view annual statements via a pension app?