An insurance company could use this innovation in order to:
- Create challenge: an insurance company Life & Savings line of business could be inspired by Flexscore and introduce goals and scoring for their customers.
- Employee benefits: keep the same approach.
- Flexscore is a free, financial, independent advisory tool available online and as an app, which aims to give users clarity and financial advice on how to improve their personal finances and become fully financially independent.
- Users answer a preliminary questionnaire about their income, assets, financial accounts, debt, risk profile… based on these information, algorithms and market rates, Flexscore attributes users a score between 0 and 1000 they can compare with peer and national averages (1000 points is the score to be considered financially independent).
- Depending on their score, users get advice and call to actions on what to do next in order to improve their financial independence (pay off a part of their debt, start saving for their retirement, etc.).
- Free: advice based on algorithms developed by experienced financial advisors.
- Fun: Flexscore gamifies the experience through scoring to make it as enjoyable as possible.
- Call to action: recommendations provided by Flexscore incite users to be proactive in their financial decisions
How to use
- Users sign up for free online or via the app, complete their profile, answer questions and complete their goals.
- The profile is similar to a LinkedIn profile: the more details the user completes, the higher the score and recommendations will be more accurate.