Pensions provider Aegon has unveiled Mylo, a new data engagement platform designed to support members throughout their financial journey and brought it to life as a cuddlable mascot.
At the Pensions UK Annual Conference in Manchester, the character of Mylo adorned a range of goodies, with some delegates offered a bright pink plushie toy as a physical manifestation of the service.
Mylo—short for “My Longer Life”—is more than a pink plushie. It’s a character-led interface backed by a responsive, insight-driven engine.
“He’s at the front, but it’s the data engagement engine that sits at the back of it that’s delivering responsive insight-driven, data-led calls,” said Suzanne McHattie, head of workplace communications at Aegon.
“It’s not the traditional school, work, retire,” said McHattie. “We’re trying to build something that creates a relationship with people as they go on through longer, more complex lives.”
These lives – for Mylo’s benefit at least – start at a member’s first pension enrolment to retirement and beyond. Mylo can also hunt for members’ long-forgotten assets.
Already, the rollout has driven measurable results: “App downloads have increased, marketing opt-ins increased… Over 50% of people that download the app go on to find an old pension, a lost pension,” said McHattie.
The brand was co-created with an external agency and shaped by customer insight. “We did a lot of research groups, focus groups. They helped us with the brand, the tone of voice, the naming, everything,” said McHattie. “So, it’s all based on our customer insight.”
From a comms perspective, Aegon has leaned into B2B2C tactics. “We’re doing a lot just now taking to market with our members—directly emailing them out to let them know,” McHattie said. “We’re also doing a lot with our corporate advisors… giveaway boxes, giveaway socks, ad campaigns, takeovers, wrap arounds.”
While Mylo won’t be appearing on billboards or buses — “we’re B2B, so we’re not directly acquisition” — the campaign has embraced tactile brand assets including socks, cookies, books and bags to build affinity.
“You create a relationship with Mylo and that lasts you longer than your pension or your current employer,” McHattie noted. “It should be through your entire life.”
Launched in June to Aegon’s workplace scheme members, Mylo has already reached around a million users, with full rollout planned for the first half of next year. As for future companions? “Not currently, but that’s not to say no,” McHattie said.