MADISON, Wis. (9/12/13)--CUNA Mutual Group has been ranked No. 19 in this year's InformationWeek 500--a list of the top technology innovators in the U.S. The company was honored for its Retirement Radar mobile annuity planning application.
It is the 11th year CUNA Mutual Group has been named to the InformationWeek 500 and the second time it has ranked in the Top 20. It was the highest-ranked insurance company on the 2013 list, which was announced Monday. Use the link to access the full list.
"As a company, we are very focused on developing mobile products and services that not only deliver the best customer experience for credit union members, but also strengthen market share for credit unions," said Rick Roy, CUNA Mutual Group senior vice president and chief information officer.
"Applications like Retirement Radar help engage members in the complex process of retirement planning," Roy added. "Radar builds upon the credit union movement's principle of helping people reach their financial future, and delivers a new advantage for credit union financial advisory programs in the mobile arena."
Retirement Radar is a tablet/mobile-optimized Web application using gamification principles to create an improved engagement between customers and their financial adviser. The gamified approach illustrates a customer's retirement "radar" through life element icons, such as age and gender, asset size, risk tolerance and legacy plans to illustrate the best retirement revenue plan.
Launched in November, Retirement Radar is a key component of CUNA Mutual Group's strategy to grow lifetime annuity sales. The number of financial advisers regularly selling its lifetime annuity product line increased to 100 from 30 in one year, and the company will expand to 750 by 2016. Radar's design has quickly generated market "buzz," with potential new distribution partners and sales channels within the insurance and financial services industries.