Icatu
An Investment to call yours
Context
Icatu is the largest independent insurance company in Brazil with R$ 52 billion under management. During their digital transformation process, the company tasked a third party agency to design the following concept: an end-to-end pension plan subscription experience.This initiative aimed to make the project of acquiring a pension plan by an ordinary individual into a company goal. Unfortunately they failed to achieve both board of directors and engineering team approvals with their solution, so I joined a multidisciplinary group of individuals from within Icatu to solve the problem.
Premisses
– To design the solution's concept with a third of the time;
– To keep the cohesion of institutional and life insurance website style guides;
– To give pension plans an investment-like treatment;
– To be a mobile first experience.
Our main personas, the newbie (left), the initiated (center) and the experienced (right).
My Role
As a senior product designer from Icatu’s Digital Team and lead designer within the group, my role was to conduct interviews inside the company, synthesize benchmark and competitive analysis researches, moderate user journeys and user personas workshops, provide wireframes and high-fidelity prototypes.
We did A LOT of benchmark and competitive analysis
The Opportunity
During our immersion with the team responsible for customer relations, it got very clear we have at least 3 types of investors: 1) the newbie 2) the initiated 3) the experienced.
In the discovery phase carried out with the business inteligence team, it was noticed that the competing experiences that had the best performance (acquisition vs. customer retention) were those that bet on default behaviors. Meaning, experiences that presented at least 1 suggestion within the alternatives performed better.
Over the last 5 years there has been a great expansion of fintechs in the Brazilian market. To the point where they become a reference for more traditional companies. This resulted in a scenario where digital financial experiences began to resemble one another.
A snapshot of our user journey workshop (left) and an overview of the first prototype iterations (right).
The Solution
Our proposal was very much based on the open sea context brought by our original problem. In that sense we thought that our experience must adapt to our prospect investors no matter where they came from (blogs, web search, social media), so we came up with a landing page where we would segment them by 3 simple statements:
1) I know my ways through investments. Show me all the funds you have;
2) I want to understand pension plans step-by-step;
3) I already have a pension plan. Show me you funds so I can compare them.
From there they’ll be guided by 2 types of experiences: 1) A flow that resembles some past experiences of both seasoned and not-so-new investors, that way their learning curve would be shorten and we could sum to default behaviors.
2) The second focused on a flow based on objectives and positive reinforcement, where the newbie investor is guided and informed all the way through their plan’s simulation and subscription.
Learnings & Outcomes
Because of the deadline we had to make hard choices, so during our discovery phase we prioritized the types of research that we could make inside the company and rely on our experts point of view. We listed, however, a series of assumptions we would like to user test later. In the end the project was a success and the team a were able to turn this concept into a as-soon-to-be developed product in early 2022.
Thank you for your time
