Tech and innovation

Humanizing the
digital experience

Using technology to engage plan participants in retirement readiness

Nationwide’s retirement plan employer partners often face challenges in engaging employees and fostering actions that will enhance participants’ retirement readiness. The solution? Nationwide’s immersive 3D Virtual Adventure Center created by its retirement solutions business. The Adventure Center transforms the retirement education experience through music; interactive videos; downloadable educational content; the opportunity to meet with representatives and attend live or on-demand webinars; and links to further actions.

With a highly customizable touch, including details, logos and a bilingual English/Spanish version, this innovative platform has increased member engagement, enrollments, assets, education and plan retention.

Empowering financial professionals

Amid economic fluctuations, annuities surged in popularity again in 2023, with demand reaching overwhelming heights that left financial professionals inundated. In response, Nationwide introduced eAlerts. This new system empowers financial professionals to opt in to real-time email or text updates on pending new business, reducing the need for constant calls to Nationwide for status checks.

eAlerts save financial professionals time and improve efficiency and client service.

Adapting to changing needs

As our population ages and rising long-term care (LTC) costs pose challenges, traditional LTC coverage often falls short due to its high expense and lack of flexibility. Nationwide’s life insurance business recognized the gap and introduced CareMatters Together℠. This first-of-its-kind LTC product allows two individuals the flexibility to use one pool of money for any combination of benefit payments. The benefits can be used entirely by one person or shared between the two in any combination.

Leading the charge in rapid and efficient claims resolution

The insurance industry faces a growing problem with the rapid increase in claims frequency and average severity. Rapid resolution is key to reducing the impact these trends have on rates for our customers. Nationwide aims to enhance the efficiency and effectiveness of claims resolution for customers.

One example is the 2023 Defense Summit. The Summit was organized by Nationwide claims teams to unify and strengthen relationships with and among defense counsel firms. Attendees from across the country exchanged ideas and strategies for improving claims resolution.

Nationwide also is using data analytics to equip associates with in-depth severity insights, which empower them to make informed decisions for each claim file.

Real-time monitoring through innovative partnerships

To support our agribusiness customers, Nationwide announced two partnerships in 2023 — with Teledyne FLIR and PrevTech Innovations — to help agriculture customers and partners mitigate electrical risks before they evolve into dangerous and costly outcomes.

Teledyne FLIR thermal imaging cameras allow customers to see what’s happening with mechanical equipment, electrical boards/panels, insulation and more, and identify problems before they interrupt business flow. By visualizing heat as an image with measurable temperatures, FLIR’s thermal cameras can help save money with ongoing preventive maintenance and loss prevention, be an integral part of assessing idled equipment, or provide insight on correcting faulty machinery or wiring.

PrevTech provides real-time electrical monitoring, fault detection and diagnostic services to help reduce fire risk and operational interruptions. PrevTech’s monitoring services are delivered by a team of technical experts who proactively connect with clients and guide them in the diagnostic and risk mitigation process, providing peace of mind to business operators. The solution can be adapted to any operation’s needs, regardless of size or type.

Creating safer workplaces

Nationwide is working to prevent injuries, make workplaces safer and right-size workers' compensation premiums through partnerships with Kinetic, CompScience and Hourly.

According to a report by Perr&Knight, the smart wearable Kinetic Reflex device reduces workplace incidences by detecting unsafe postures and providing workers real-time feedback whenever a high-risk motion occurs. Over time, workers can use Reflex to improve their biomechanics and workplace well-being. Safety managers can view risk data in the Kinetic dashboard, which can be used to make targeted changes to workplace processes that can help to reduce injury risk further.

CompScience’s technology is available for business owners to reduce workplace hazards by detecting previously unreported workplace risks. It analyzes existing workplace videos to identify and stop an accident before it happens. It uses computer vision models that detect behavioral and environmental hazards.

Hourly’s integrated mobile platform collects data points such as when a worker is clocking in or out at any location, how much they are getting paid, whether a workforce is growing or shrinking, and whether any accidents have happened. It then uses the business’s data to adjust the company’s insurance premium based on its evolving needs.