Principal Financial Group

(and Cuprum AFP)

Principal provides financial services like Mutual Funds and another kind of savings for retirement in Chile. It owns Cuprum AFP as well, which is a Retirement fund administrator regulated by the Chilean government.

What challenged me to work there?

I was returning from The States to Chile, and the "No + AFP" movement was starting. This movement is against Retirement models because it is not clear to citizens about how they work. As a mandatory saving, nobody understands what happens with the money and why they get too little when retired.

I was curious to learn more about it. My challenge was learning about our Pension system and understand people's need for giving them more appropriate information about it.

We needed to tell people how an AFP works in a human language, why saving 10% is mandatory, and why they should be complementing their pensions fund with other savings like APV, which is like IRA.
(Mandatory saving is 10% of the monthly salary with a cap of 3,000 USD approx).

How did we start?

I started interviewing friends & family about their motivation for saving and the saving system in Chile. Since I was getting a lot of insights, I decided to survey more people to collect more data.

  • People think they have no more saving capacity.
  • The principal motivation for saving is traveling.
  • Most people don't know about the alternatives they have for saving.
  • People think AFPs steal their money, so we needed to show them returns of their savings.

Testing and prototyping

I participated in several Discoveries, Inceptions, and Design sprint, for understanding customers' and stakeholders' needs for defining products and services to offer. We tested prototypes with employees who work at customer service and customers.

We used Guerrilla testing for testing fast prototyping lo-fi in coffee shops around the office. We tested prototypes hi-fi using the Invision app and Lookback app for recording sessions, inviting people related to our User Personas.

Interactive prototyping

I made some interactive prototypes using Principle. We used a platform like Usabilityhub for testing current and new prototypes that I previously recorded.

Creating a new pension planner

The calculation of the pension depends on many aspects; age, gender, number of children, marriage, actual savings, salary, etc. For defining an MVP, we collected all this information to start some whiteboarding seasons and rapid prototyping to be able to get customer's feedback and get insights about the most necessary features to prioritize and the easiest way to understand the planner.

Creating journeys for customer communication

I participated in the creation of email marketing journeys. We used the Marketing cloud (Salesforce) platform.
I learned how to search and define the touchpoints of communication, choosing and creating the content, and setting the emailing flow.
I woked on:

  • Left shopping cars when customers wanted to get an APV.
  • Creating a saving plan for personal goals.

Old Alert view
New platform and survey
Survey report

"Society must know where their savings are and why AFP exists."

Other works