The Principal Launches iGoogle and Text Messaging Features for Retirement Plan Participants
Initial interest exceeds expectations
August 12, 2009 (Des Moines, IA) — Participants with retirement accounts through the Principal Financial Group® can now experience the ease and convenience of receiving certain account information via text messages and their personal iGoogle home pages.
"We've heard from participants, especially younger ones, that they'd like to be communicated with electronically," said Danelle Kronmiller, assistant director of marketing for The Principal®. "We're reaching out to them on their terms, and hoping to cut through the clutter by doing so."
Participant use of these technologies, which became available mid-May, is exceeding goals. Within the first month of the launch, nearly 800 participants added the gadget to their iGoogle home page. And nearly 1,500 participants had signed up to receive e-mail or text messages from The Principal.
"We're pleased with the results so far, and we'll continue to adapt the way we communicate with participants to align with their preferences," said Kronmiller.
Participants can opt-in to receive e-mail or text messages with retirement account information weekly on whichever day they choose. The messages include total account balance and personalized rate of return.
In addition, The Principal also created an iGoogle gadget that allows participants to view key account information directly from iGoogle without accessing www.principal.com. Through iGoogle, users can create customized Web pages with quicker access to the information they value the most. The gadget uses the same encryption and security measures that are in place when logging in at www.principal.com, and users must still go to the Web site to perform transactions.
Both technologies are available to participants at no additional fee.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $257.7 billion in assets under management and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.