The problem.
Most Australians approach retirement without a clear picture of what their money can actually do, and most super funds have no scalable way to help them figure it out. Personal advice is great, but expensive and slow. Generic calculators are everywhere, and don't help.
Aware Super wanted to close that gap. To give members real, personalised guidance on a path to retirement without sending every one of them to a one-on-one adviser. Giving members confidence to live a better retirement.
The approach.
We started with the customer, not the regulation. Long conversations with members about what they actually want to know, and what they're afraid to ask. From there we worked backwards into what the product had to be, and then further backwards into what it had to be allowed to be.
- Mapped the decisions a member needs to make as they approach retirement.
- Designed a tool that meets members at the question they're actually asking, not the question the rules want them to ask.
- Built the governance and the product in parallel, so neither was waiting on the other.
The outcome.
Retirement Manager is now live to Aware Super members. Bringing personal advice to all 25,000 a year retiring members. Members are using it. Members are loving it. Members are making more confident retirement decisions.
What I learned.
No two retirees are the same. Designing for a range of personas and personal situations is tough. 95% of the effort goes into 10% of the edge cases.