SLK Partnered with one of the fastest Fortune 100 entrant to build an integrated health and wealth platform on cloud that boosts personalization and retirement confidence.
Case Summary
One of the world’s most admired companies in retirement space was dealing with disjointed organization due to multiple M&As that hindered growth and cross-sell/upsell opportunities.
SLK partnered to build an integrated platform that boosted participant, employer, and employee retirement outcomes from health, wealth, and investment perspectives.
The platform delivered insights to over 6Mn participants helping engage 90% of users and improving retirement confidence by 24%
The Challenge
The client’s strategy around health, wealth, and investment management had evolved over multiple M&As and was hindering organization growth and cross-sell/upsell opportunities. The client wanted to enable the participants to get the most out of their retirement portfolio. For this, they wanted to reimagine their overall business to bring together capabilities and solutions together in a customer-focused way. They also wanted to share these solutions and insights to engage stakeholders on the retirement outlook across channels. They were looking for a partner to create an integrated platform that can help support these goals.
The Solution
The SLK team partnered to assess the data and digital landscape for this signature program. We relooked at all customer journeys, identified gaps and improvement areas, and defined a unified journey to enable a better, enriched customer experience. Then we built a cross-channel application that provides a compass to participants to navigate their road to retirement and enables stakeholder engagement portfolio.
Business Impact
90%
Engaged users
39%
Increase in savings rate
24%
Improvement in retirement confidence
SLK’s Efforts Showed Quick Results:
The integrated platform helped the client create better outcomes for all its stakeholders by:
- Enabling insights to be shared with 6M+ participants and led to 90% engaged users
- Personalizing offerings for over 40% of participants thereby helping save 29% more money for retirement users
- Improving customer journeys that resulted in 25% increase in plan participation thereby generating USD 8.3 Bn as additional retirement income each year
SLK’s support in reimagining business strategy helped the client improve overall customer experience and
profitability.
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