Transamerica was using outdated methods to engage with customers and found itself lagging behind competitors who were quick to adapt to the increasingly digital needs of their customers. Due to the lack of a digitized experience, Transamerica began to lose brand equity and recognition amongst its customers. The client wanted to transform its customer experience to remain valuable to clients and set itself apart by providing a unique digital experience that integrates health and wealth, unlike any other financial services company in the market. Connecting the Experience Wealth & Health Framework to the business was a crucial design task. The interrelationships of health and wealth were a foreign concept to people. They understand each other and their value individually, but not how they relate to or impact one another. The data to create the experience is grounded in existing Transamerica accounts, aggregating external financial accounts, and connecting to platforms like Fitbit, Health Kit, and RedBrick. Below is the experience framework that maps to the core components of both wealth and health. The overlap in the middle became experience pillars for users to receive and engage with content, recommended actions, advisory services, and partner opportunities. The key aspect of the solution was a mobile app for Transamerica customers to track data and receive advice regarding their financial and physical wellbeing. Through this concept, Transamerica positions itself as the first financial services company to focus on the overall wellbeing of its clients. We began with visioning work to prove that the health and wealth concept resonates with users. Then we iterated through an extensive prototyping process to combine financial and health advice into a holistic customer experience. Executing on the vision to bring health and wealth together through a digitized mobile experience will competitively differentiate the client from other financial services companies. In addition, this initiative will positively influence TA’s brand recognition, transform TA’s brand personality, and increase TA’s business performance. Prior to public release, the platform and native app have been released to 401K providers to demonstrate the impact and engagement of the platform.
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