Legacy planning was defined by investigating relevant and analogous services and industries.

Description

Extension of the life insurance experience that creates emotional connections with policyholders and future MetLife customers.

Overview

MetLife is the largest provider of individual life insurance in the U.S. and has the most commonly held stock in North America. However, insurance is a crowded industry that is increasingly relying on large-scale efficiencies, customer service and the acquisition of competencies to deliver shareholder value. We believe these finite methods of value delivery will soon be ubiquitous in the insurance industry. This project is about minimizing the effects of efficiency maximization among insurers by helping MetLife develop long lasting and powerful emotional connections with customers.

The team proposed that MetLife expand its services to include the burgeoning industry of legacy planning. This project demonstrates how the implementation of legacy planning satisfies unmet customer needs and differentiates MetLife from its competition.

In short, rather than simply receiving an impersonal check from a life insurance company after a loved one passes away, beneficiaries would receive a customized bundle of memories, lessons, and values that the deceased collected and saved throughout his or her life.

Interviews provided key user motivations and goals for legacy planning participation.

Service concepts were created and refined during a collaborative workshop session.

An implementation roadmap was created to strategically leverage MetLife’s competencies.