Proactive and personalised nudges
The welfare industry is working tirelessly to make people aware of the benefits they are eligible for and putting the infamous £16bn/year in unclaimed benefits into people’s pockets. However, being aware of the benefits you might be eligible for is just the first step of a long journey, and people still need help, support and loads of encouragement to apply for the benefit they are eligible for.
We are releasing a new feature on our API portal to allow our partners to send proactive, relevant and personalised notifications to encourage people to take action and apply for their benefits. This new feature not only helps people to maximise their income and build their financial resilience, but it also allows our partners to drive customers’ engagement and recurrent customer usage.
The nudges feature allows our partners to send proactive, relevant and personalised notifications to influence and encourage customers to take action and apply for their benefits, grants and social tariffs. These notifications are tailored to customers’ specific needs, benefits entitlement, and more importantly, they adapt to each stage of the benefits lifecycle i.e. benefits awareness, application and management.
For example, our partners can tailor customers’ journeys with the following personalised notifications:
- Complete benefits calculation: Remind customers to finish the benefits calculations to find out all the benefits they could be eligible for.
- Switch to Universal Credits: Remind customers to switch to Universal Credits if they are eligible to have more benefits than in the legacy benefits framework.
- Apply for their benefits: Remind customers to apply for their benefits if the benefits they are receiving do not match the benefits they are eligible for. We can update the benefits they are receiving using our endpoint for Open Banking data entry.
- Apply for seasonal benefits: Remind customers that they have to apply for seasonal benefits such as Free School meals, School clothing costs, and Warm home discount.
- Benefits changes and new benefits: Let customers know about changes in their benefits entitlement and new benefits they might be eligible for.
Welfare benefits have powerful features to help people increase and protect their income, reduce their daily living costs, and save for their future. We believe that benefits calculation features should be part of broader money management propositions, specifically those solutions targeted towards low and middle-income households.
Our partners use our easy-to-implement API portal to embed these nudges seamlessly into any customer journey or channel e.g. in-app alerts, push notifications, or emails. Welfare benefits are not a feature that customers use on a daily basis, but they certainly have to review their benefits entitlement every 3 to 6 months and apply for seasonal benefits and ad-hoc support. Proactive, relevant and personalised nudges generate great customer touch points to drive engagement and recurrent usage.
The nudges feature allows supporting customers across the end-to-end user journeys, which also helps FS firms comply with FCA guidance on the fair treatment of vulnerable customers and FCA consumer duty.
How we can help
Inbest is a benefits platform that our partners embedded on their existing user journeys to identify households with unclaimed benefits, nudge them to check their benefits entitlement, and help them to apply and manage their benefits.
We partner with a wide range of companies, from government agencies to FS firms and growing fintech companies, and together we help 70% of their customers find additional benefits of £5,300 per year, which can mean the world during the ongoing cost of living crisis.
Feel free to reach out if you want to explore how you can embed a benefits check into your digital journeys and view our benefits platform in action!