09/22/11 Thank you for having me. As you know, we are here to share how AXA Equitable thinks about “gamification”. Specifically our game - The Pass it On! Game and Sweepstakes.
09/22/11 Life insurance isn’t something you buy for the fun of it – not like buying a sports car. … And that’s only one of the reasons people put off buying it. … Yet what’s one of the first things you think when someone with a young family dies? … “I hope they had insurance.” … In fact, according to [Dated Source], most people don’t. … For life insurers like AXA Equitable, … that spells opportunity -- 37 million U.S. households with children whose parents are mostly younger than baby boomers.
09/22/11 Looking at gaming research and the evolving demographic changes we thought this might be an interesting medium but how do you gamify life insurance learning? We reached out to a small group of seasoned AX A Advisors Financial Professionals to ask what they thought we should teach in the game. Three points of learning emerged: Your choices about life insurance today could impact your family tomorrow. The difference between term and permanent life insurance. Permanent life insurance policies offer a cash value component which can be used for future life needs. By engaging our AXA Advisors field force early, we built support. They thought a game was a great way to get conversations started with potential clients. Buying life insurance isn’t fun but learning how it works in a game can be. Not to mention, the sweepstakes offers a strong incentive to play. Pass it On! was born.
09/22/11 To achieve learning point #1 - helping people understand how their choices today could impact their family tomorrow - we created a personal user experience with avatars. Players select their family using presets if they want to begin quickly or by customizing to ensure their virtual family resembles their real family.
09/22/11 Life insurance is about protecting those you love but in order for that to translate in the game we needed a metaphor for a policy. Shields became the solution and the “holy grail” of the game. You can’t succeed without one. To help us work toward learning goal #2 – teaching the difference between term and permanent life insurance - we utilized color and game strategy. Gold shields represent permanent life insurance protection while silver shields offer life insurance protection for a set amount of time. Gold shields, like permanent insurance are more expensive then silver shields but they can offer life insurance protection for life. Silver shields disappear after three rolls of the dice as a way to represent how term life insurance offers protection for a set period – the term of the policy.
09/22/11 Eventually, as in life, Pass it On! family members die. This is the point in the game that we think offers a powerful learning opportunity. Players see what they “passed on” with or without a shield. Of course, if they had a shield the next family member is a in a better financial position. If not, the game may end sooner than expected. After the death event, the user must now play on as the next family member. Walking a mile in the shoes of their beneficiary with as much gold – game currency – as they left behind.
09/22/11 We wanted to reward our gold shield participants and also highlight how their shield offers an important component that our silver shield does not. Our partner, Brand Games had suggested that we add items to collect in the game – badges - to increase player engagement. We saw this as a great opportunity to achieve our third point of learning - highlighting the benefits of cash value with a permanent life insurance policy or in the case of Pass it On! a gold shield. Players with a gold shield will find star tiles on the game board. Star tiles represent the potential cash value accumulation component of a permanent life insurance policy, which can be used to help address possible future life needs such as college and/or private school funding, retirement funds, parental care, home repair, a vacation home, or medical expenses.
09/22/11 Players are encouraged to come back daily to enter the sweepstakes. There is also the ability to share with friends from the sweepstakes entry form. We’re seeing that particular aspect of the campaign is resonating with both family and personal finance bloggers. Of course, we have an extensive communication plan including our social media pages on Facebook and Twitter. We also did a soft launch to employees in August which was a great learning experience and helped us draft our FAQs and help section.
09/22/11 To further expand our promotional outreach, Pass it On! also features a charitable overlay. There are 5 locations to complete in the game. After completing all the levels in a location, the user will be asked to vote for one of the three charities chosen by the AXA Foundation. The charity with the most votes at the end of the campaign will be given the largest grant. This type of crowd sourcing offers gamers incentive to keep playing after they’ve reached their daily sweepstakes limit.
09/22/11 Thank you for time today. I hope everyone has a chance to play Pass it On! and enter the sweepstakes. There’s a postcard in your goodie bags with this address as well.
Connie O'Brien - "AXA Equitable’s Pass It On!"
AXA Equitable’s Pass it On! SM
Pass it On! SM is a service mark of AXA Equitable Life Insurance Company (AXA Equitable). This interactive game does not provide or indicate the actual performance, face amount, death benefit, or cash value of any particular insurance or other financial product, nor is it intended as a recommendation of any particular life insurance product or product type. All figures and dollar amounts shown are entirely hypothetical. Players should discuss their individual circumstances with a licensed insurance professional to determine which life insurance policy may be suitable and appropriate for them. All guarantees are subject to the claims-paying ability of the issuing life insurance company. Life insurance is subject to exclusions, limitations and terms for keeping it in force. AXA Equitable and AXA Advisors, LLC (member FINRA, SIPC), NY, NY are affiliated companies and do not provide tax or legal advice.
Cash Value of Perm Insurance IMPORTANT Policy loans and withdrawals reduce the life insurance policy’s cash value and death benefit and increase the chance that the policy may lapse. If the policy lapses, terminates, is surrendered or becomes a modified endowment, the loan balance at such time would generally be viewed as distributed and taxable under the general rules for distributions of policy cash values.