Private Pension Simulator

Caixa Seguradora | 2016 - 2017

Private Pension Products

First private pension simulator in Brazil with a completely online sales process.


UX Designer
Product Owner

Working together with the Marketing Manager, I led the project and participated end-to-end in the whole process of ideation, creation and implementation. I was also responsible for most of the empathy phase, with research, data, persona creation and user journey definition. In collaboration with another UXer, I developed the wireframes, prototypes, and participated in the UI definition.

The challange

In 2016, Brazil is experiencing intense debates about social security reform. With many uncertainties and doubts, at least 15 million people will be impacted when it comes time to retire, having to look for alternatives to make up for the loss of future income. In addition, there is a general lack of knowledge about financial products. Most Brazilians don't have the habit of saving, much less of investing, considering this type of service complex - or for rich people.

The private pension simulator comes intending to reduce this knowledge gap. Also, the goal is to present itself as a solution to a group of people in need of financial alternatives.

The briefing

Create an online simulator that is simple, intuitive, and has constructive navigation. Since the user may have a natural resistance to the subject, it was essential to guide him through the process while he enjoys a positive experience with the product. The project had the prerogative:

  • No technicalities
    Private pension products in Brazil have many unique characteristics and technical details regarding taxation. This creates a user problem: a vast range of terminologies not used by most people.
  • Instructive tone
    Considering most Brazilian didn't know much about investments, including private pension, there was an urgency to learn and democratize the subject.
  • Accessible
    Each user has a different need and life configuration. And for this, the simulator should be customizable and bring affordable pricing options for them.
Defining the target

The target definition was an essential step for the development of the Simulator and was done after compiling primary and secondary information from customers.

First, internal data from the BU was used to understand who were the major segment of clients. Who were they, what is their family configuration, amount of income, average contribution, and for how long are they investing in their private pension?

Then, open data from SUSEP and IBGE, both national agencies in Brazil respectively responsible for the private pension industry and the national Census. We wanted to understand the portrait of the Brazilians in need of the product faced to our current customers.

Finally, a focus group research was conducted with 4 groups of 10 people. Our goal was to understand general perceptions about the social security reform effects, perceptions about retirement and financial products.

With all the information collected, 3 targets were identified:

Aspiring for the retirement
Pain: will need to supplement his income.
Goal: maintain the same life standard in the future and retire with dignity.

The ones aiming for a future project
need to learn how to accumulate money.
Goal: accomplish a life achievement, such as their children's college, buying a house or an exchange.

Pain: don't know which funds are the best.
Goal: keep the investment in a profitable and reliable performance.

Micro customer journeys

With the identification of the users, micro-journeys were drawn based on their pains and goals. This way, we could fit the product to the users' needs to create an experience that fit the briefing: without technicalities, instructive and accessible, customizable.

Although some factors may influence the decision making, such as life cycle, socio-cultural and behavioral factors, the research pointed to a common need: to understand the product and be able to interact with it. After all, a financial product only makes sense if it fits the person's lifestyle.

Wireframes and prototypes

To quickly test and validate with stakeholders the proposed journey for the Simulator, some simple prototypes were made. It is worth noting that the experience, interactions and motions should be enjoyable since it was necessary to collect a high volume of information from users for the quote.

First designs were made on whiteboards, paper and pen. Then internal tests were done with Typeforms, emulating the interaction. Later, prototypes were developed using Axure to dig deeper into interactions and functionality for both desktop and responsive versions. And finally, the UI was designed using Adobe XD, prioritizing aesthetics and visual design.

Wireframe desktop version

Check it ↓

Wireframe mobile version

Check it ↓
Usability tests

With each new version made of the wireframe, small usability tests were performed with the internal audience - Caixa Seguradora employees who fit the user profiles and no product knowledge. So, then, a total of 3 waves of tests were made with improvement points both in the designed journey and in interactions.

As a result, we understood that the users wanted something more instructive, but without going through too many product particularities. Because of this, the team decided to remove some features from the simulator and the product, such as inserting coverage, benefits, and even some specific products.

Learning & results

As a result, the Private Pension Simulator of Caixa Seguradora was recurrently used in digital campaigns, from national to even sporadic advertising. The volume of traffic in the product page also increased considerably, including by reference, since Caixa Econômica Federal, one of the majority shareholders of Caixa Seguradora and Brazil's largest bank, also placed the Simulator on its website.

As a learning experience, especially because it was my first UX and Design System project, the importance of thinking big but starting small remains. It is important to contain your enthusiasm and focus on delivering an MVP - improvements will come later.

Final version

The Private Pension Simulator from Caixa Seguradora has a new version, but can be accessed through the link below.

Click here ↓