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How do millennials think about rewards and incentives?
humanities & arts competitive analysis gamification goalsetting incentivization
top 50%
53 months ago
Small pic millennial female advantage 1

Understanding what motivates millennials--America's largest group of consumers--is crucial for any organization that wants to stay relevant over the next few decades. As a life insurance company, we are deeply interested in finding long-term strategies that will help millennials meet their financial and health goals. We want to be there for millennials, serving as an integral part of how they manage those important aspects of life. 

Part of being there for millennials is learning the "exchange value" they seek for sharing personal data or for completing activities and tasks. What financial or health info will they share, and in exchange for what?


Help us understand what millennials are willing to share, and for what rewards or incentives. Specifically:

If you could design a new rewards and incentive program for a life insurance company to encourage good health and financial behavior:

  1. What rewards, discounts, and or experiences should be offered? (e.g., may include, but not be limited to, gift cards, discounts, electronics, donations to charities, concert tickets, etc.)
    1. How would your answer change for a system of small, immediate rewards?
    2. What about if you were accruing points toward a larger reward?
  2. What data do you think millennials are willing to share in exchange for a reward? (e.g. may include, but not be limited to, wearable tech information, geolocation, financial information, etc.)
  3. What should a participant be rewarded for? (e.g. may include, but not be limited to, physical activity, achieving a health or financial goal, winning a competition, or something else, etc.)
  4. What kind of health and financial competitions or challenges would you want to participate in? Think about self-set goals vs. company-set goals, and who you would want to compete against: friends, family, co-workers, etc.?

What “influencers” (e.g., friends, family, companies, workplace, classmates, organizations) are most successful in:

  1. Motivating you to set, monitor, visualize, and achieve your health goals? Why?
  2. Motivating you to set, monitor, visualize, and achieve your financial goals? Why?
  3. Engaging you until you achieve a particular goal? How?
  4. Delivering on promises to reward you for behaviors? How so?
    1. Please share details on any companies that have NOT delivered on promises.

NOTE: We are looking for both general and unique ideas, so please provide creative, outside the box solutions.

    Submissions will be graded on the following criteria:
  • Meets Deliverables
  • Creativity
  • Clarity
Reward Tiers
Top 10%
will share $1,000
Next 15%
will share $400
Next 25%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
$90.90 A
$90.90 Y University of Central Florida
$90.90 Square pic 60 img 7778 University of Oregon
$90.90 Picture?width=160 University of Toronto
$90.90 Square pic 60 image University of Wisconsin
$90.90 Square pic 60 ahahahaha Yorkville University
$90.90 Square pic 60 photo 2 Jacobs University Bremen
$90.90 M University of Georgia
$90.90 Square pic 60 linkedin1 McGill University
$90.90 A University of Central Florida
$90.90 Square pic 60 img072 2 Harvard University
$26.70 Square pic 60 matthew gaiser calgary bow headshot  1 Queen's University
$26.70 Square pic 60 img 0044 square Georgia Institute of Technology
$26.70 K University of Michigan
$26.70 Square pic 60 prof pic 1 University of North Carolina at Wilmington
$26.70 Square pic 60 10 31 14 pro Walden University
$26.70 C Selkirk College
$26.70 Picture?width=160 Middlesex University
$26.70 Square pic 60 01 Indian Institute of Technology - Delhi
$26.70 A Arkansas Tech University
$26.70 Square pic 60 self Brigham Young University - Idaho
$26.70 Square pic 60 dsc 0011 Institute of Chartered Accountant of India
$26.70 Square pic 60 headshot University of Miami
$26.70 Square pic 60 121784963 3544983482220350 3456845387637098458 n Ferris State University
$26.70 M Penn Foster
$26.70 Square pic 60 img 8396 University of Central Florida
$7.70 A Bradley University
$7.70 W University of Washington
$7.70 P Baruch College
$7.70 Square pic 60 img 4150 PSG College of Arts & Science