We're making the transition from "What is" to "What if?" We're giving our teams time and space to experiment in our new innovation lab, investing millions in startups that are leveraging technology to solve big problems, and hosting meetups, hackathons and other events to advance innovation and technology in our region.
A decade ago, when we started to see the impact technology would have on our industry, we formalized our innovation program at Northwestern Mutual. The ideas that began to emerge made it possible for us to transform from a traditional life insurance company to a digital business with a singular focus on helping people achieve financial security. And, we know that is not good enough. We must continually disrupt ourselves to deliver the best possible experience for our clients and for our advisors. Innovation is how we’ll get there.
Do you know how financially secure you are? The Financial Wellness Score can help answer that question for you. Like a credit score or a blood pressure reading, the Wellness Score is a single number you can use to measure progress as you follow your financial plan.
Do you know how financial secure you are? Most people don't-- but the Financial Wellness Score can help you answer that question. Like a credit score or a blood pressure reading, the Wellness Score is a single number you can use to measure progress as you follow your financial plan. Calculated using Monte Carlo predictive modeling, we simulate 10,000 different scenarios to anticipate any combination of risks, like market volatility, disability, or death as part of your financial planning process.
Northwestern Mutual is exploring a technology to use a collaborative experience allowing multiple parties to hold an online conference with video, audio and messaging as well as offer features including: co-browsing & co-editing forms, e-signature and compliant audit trail.
Easy 'live' and timely collaboration between clients and financial advisors in completing forms leads to faster forms processing and elimination of incomplete forms. Northwestern Mutual is exploring a technology to use a collaborative experience allowing multiple parties to hold an online conference with video, audio and messaging as well as offer features including: co-browsing & co-editing forms, e-signature and compliant audit trail.
Plan Tracker is a digital tool that empowers the clients to make progress on the financial plan created by their financial representative, which can be accessed anytime and anywhere.
Northwestern Mutual provides comprehensive financial planning that gives consumers accessible, achievable and actionable financial goals. Plan Tracker is a digital tool that empowers the clients to make progress on the financial plan created by their financial representative, which can be accessed anytime and anywhere.
Joint work digital tool helps provide timely and comprehensive service when joint work financial representatives/specialist and their staff interact with clients. It allows for greater client service stemming from a partnering of skill sets.
Joint work occurs when two or more representatives work together with prospects and clients for the benefit of all involved. Joint work digital tool helps provide timely and comprehensive service when joint work financial representatives/specialist and their staff interact with clients. It allows for greater client service stemming from a partnering of skill sets and promotes a positive network office culture fostered through collaboration and interdependence among representatives.
Socialeads is a startup that won our first ever ReversePitchMKE challenge. The platform leverages data science and machine learning to help financial advisors connect with the right people at the right time.
Socialeads is a startup company that won our first ever ReversePitchMKE challenge. Socialeads analyzes social networks and other data so financial advisors can stay up-to-date on client milestones (like having a child, buying a home or saving for college). Socialeads received initial seed money from Cream City Venture Capital and will be testing the idea's viability in our accelerator.
Using data, advanced analytics and new digital tools, we're able to approve a subset of life insurance policy applicants for our best rates in as little as a day—without the need for a medical exam! Time saved and less intrusive, that’s underwriting reimagined.
Using data, advanced analytics and new digital tools, we're able to approve a subset of life insurance policy applicants for our best rates in as little as a day—without the need for a medical exam! Rather than providing blood samples, waiting for medical records or having follow-up phone calls, select applicants can get rapidly approved by completing an application and online medical history questionnaire at their convenience. Time saved and less intrusive, that’s underwriting reimagined.
Butterfly Island is a virtual reality game that provides distraction therapy for children with cancer. The employee-submitted idea was built with Ronald McDonald House of Southeast Wisconsin.
Butterfly Island is a virtual reality game designed to provide distraction therapy for children with cancer. One of our employees came up with the idea and its development was funded by our company's Foundation in partnership with the Ronald McDonald house of southeastern Wisconsin. Butterfly Island is free and available on the Google Play Store.
Role Call is a mock prospecting application designed to boost the confidence and success rate of new financial advisors when they pick up the phone to call a client or potential client.
Practice makes perfect. That's the idea behind Role Call, a platform designed to boost the confidence and success rate of new financial advisors when they pick up the phone to call a client or potential client. The platform lets financial reps make mock calls and receive direct feedback from mentor coaches through the application.
Posting+ is a CRM-enabled mobile app that saves our advisors time through automation workflows and helps create a more consistent experience for clients.
Posting+ is an app that makes it more efficient for our financial advisors to process meeting notes and schedule follow-ups with clients. The app captures case notes with voice dictation, automatically generates follow-up letters and creates tasks in the client relationship management (CRM) software for the next meeting.
Intelligent things learn, adapt, make decisions and act – often without human involvement. How will AI and automation impact the future of work, society and a person’s ability to achieve financial security?
Just as digital has transformed industries, new tools and technology can transform individuals. Which digital tools improve lives and experiences? How are individuals becoming more digitally savvy at home and work?
There are now thousands of startups laser-focused on delivering targeted products and technologies that solve acute business needs. What opportunities can be seized by leveraging these new sources of innovation?
Voice, gesture and augmented reality will change how we interact with computers – and each other. How can these new interfaces provide seamless and friction-less interactions among people and technology?
More than just fitness trackers, even hospital-grade devices are becoming personalized and affordable for most consumers. How will people leverage these sources to take control of their health and well-being?
For the second year in a row, we opened our doors to innovators, entrepreneurs and creatives to help us solve some of our most pressing business challenges, and they answered the call!
We're only as strong as the community around us. See what we're doing (and join in the movement) to make Milwaukee a more vibrant hub for 21st century business.
As we prepare to head into a new year, the Northwestern Mutual Innovation team outlines three themes that will be increasingly critical for our industry in 2021 and beyond.
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