Life Lock Employee Benefits Overview Q12009 - Presentation Transcript
LIFELOCK EMPLOYEE BENEFIT PROGRAM Q1 2009
IDENTITY THEFT TODAY: IMPACT ON EMPLOYERS AND EMPLOYEES
Fastest growing US crime, 8 th straight year: FTC data
ID theft results in significant lost productivity for both employee and employers. 175–300 personal hours spent over 1-2 years to restore a stolen identity
Cost to US consumers and business: $50 billion a year
1 in 6 Americans directly affected by identity theft
Fastest growing segment: Our children
COMPANY OVERVIEW
The Leader in proactive identity theft protection
Market share: nearly 1.5 million members today; 12 million by 2013
1 st to offer proactive ID theft protection for adults and children
Only ID Theft company to achieve PCI Level 1 and ISO 27001 certification
Before LifeLock, consumer protection options shared one common element:
You have already been victimized when these services take place
$ Loss Recovery Restoration Detection Identity theft occurs Prevention
TOTAL SERVICE GUARANTEE Regardless of the type of identity theft that our members experience, we cover it.
Fraud Alerts
Minimize risk of new account fraud
Junk Mail/Pre Approved offering reduction
Reduce the risk of identity theft through stolen mail
eRecon
Identify fraudulent and criminal sale of personal information
TrueAddress
Reduce the risk of Identity Theft through the method of change-of-address
Child Protection
Identity Theft protection for children; the most vulnerable age group for identity theft
Comprehensive Remediation
With LifeLock available 24 hours a day 7 seven days a week , 365 days a year
WalletLock
Will replace contents of a lost or stolen wallet
LIFELOCK MEMBER BENEFITS
LIFELOCK’S $1M TOTAL SERVICE GUARANTEE Our promise is simple, with no small print
If our system ever fails and your identity is stolen while you are our client, we will do everything we can to fix the problem.
No matter what it takes or how long it takes, we will spend up to $1 million to get the problem resolved , reimburse you for any financial losses you incur, and give you back your good name.
The only requirement is that you be a paying LifeLock client when the theft occurs and that your report to us be lawful and genuine.
EMPLOYEE-PAID BENEFIT PRICING
LifeLock subsidized discounts extended to all employees and their family members
1-500 employees: lifetime 20% discount
Adults: $88 per year
Children: $20 per year
501-5,000 employees: lifetime 30% discount
Adults: $77 per year
Children: $17.50 per year
5,001+ employees: lifetime 40% discount
Adults: $66 per year
Children: $15 per year
Important additional to employee benefits package
EMPLOYER PAID BENEFIT PRICING
1-500 employees: 30% discount to employer
Adults: $77 per year
Children: $20 per year
501-15,000 employees: 40% discount to employer
Adults: $66 per year
Children: $17.50 per year
15,001+ employees: 50% discount to employer
Adults: $55 per year
Children: $12.50 per year
LifeLock invoices employer following enrollment
PROGRAM IMPLEMENTATION Important addition to benefits package
Execute benefit program agreement
Generate enrollment code to trigger employee discount
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