AMP Better Property Pack

  • 2015

  • Service
    Commercial Services

Designed By:

  • AMP Design and Innovation

Commissioned By:

AMP Pty Ltd

Designed In:


This question framed the team’s work as we designed the solution:
We saw that a shift is needed. The typical home buying experience is complex and emotional. Customers have to figure it out for themselves, coordinating service providers and decision points over the lifetime of their property.
Our new service, The AMP Better Property Pack, provides a great home loan but keeps customers focused on the decisions that matter most by streamlining and supporting the experience for customers through a tailored bundle of products and services. Whether you are a first time buyer or a seasoned investor, there is a pack made just for you.

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  • For AMP, the mission of “Help you own tomorrow,” has kept us focused on building and protecting wealth. Traditionally in the industry, purchasing property is thought of as taking on debt, the opposite of building wealth. After talking to customers, we learned that although they don't like debt, they don't see their mortgage as bad debt, but as the centre of their wealth both for today and when they think about the future. In fact, property is at the very front of their mind in all financial decisions. WE SET OUT TO RETHINK THE WAY WE ENGAGE WITH CUSTOMERS ON PROPERTY. WE NEEDED TO TREAT IT AS THE CENTRE OF THEIR LIFESTYLE, NOT JUST A LOAN.

  • We studied people's experiences of buying homes. Interviews and observations helped us see that people want to make good property decisions, but the process of finding, buying, managing and maintaining a property, either as a home or an investment, is both complex and emotional as well as tedious. The key decisions that will impact quality of life and wealth are swamped with minutiae, emotion, and complexity. Our key Insight that drove this concept is: “I WANT HELP WITH THE LEGWORK, BUT LET ME MAKE THE FINAL DECISIONS.” Customers want help getting all of the details done right, but they don't want to be taken out of the driver's seat for the final decisions.

  • The Better Property Pack now acts as an extensible platform for AMP to build new packs easily. This allows mass customisation depending on customer needs. The Property Pack can be reconfigured to include the products, services and expertise that will help people navigate and achieve their goals. The first four are: 1. Pay Off Faster Property Pack - Helps set things up well and stay disciplined to achieve the goal 2. Investment Property Pack - Helps with the financial, technical, logistical challenges of property investment 3. Upgrade or Downsize Property Pack - Helps match home to lifestyle and financial situation 4. Renovation Property Pack - Helps prepare for and manage the ups and downs of renovation

  • The Better Property Pack is the beginning of a new paradigm for home buying. The holistic service includes but goes well beyond the home loan itself. The key elements of its design are: Centralised Bundle - Centralises a complex process into a simple suite bundled with customer's home loan application Easily Accessible - Dedicated experts and advice, online and off, throughout the whole process. End-to-End experience - Services like Buyers Advocate, Insurances and Future Needs Loans support the journey before and even for years after purchase to the increase customers' confidence throughout the journey.

    In order to deliver this new experience, we had to design a few big changes to AMP's systems and ways of working. Concierge Service - This new role fills the gaps in existing processes to smooth the customer journey. Integrated Advice - We have introduced an integrated and strategic advice model that includes property and lifestyle to answer customer's question better Third Party Partners - We have extended AMP's offering by partnering to provide reliable, coordinated expertise on topics that are not our core

    AMP's Human Centred Design Process prioritises customer voice, collaboration across functions, and iterative making. It is characterised by five phases, each with its own question to answer. Frame - Are we working on the right problem? Understand - What insights can we gain from studying people's experience? Define - How might we design a solution that is desirable feasible and viable? Deliver - How can we increase our speed to traction in the market through learning? Evolve - What is the right way to bring the solution to scale? Developing and delivering this service put this model and the organisation to the test, but collaboration, perseverance and focus on the customer are driving the outcomes.

    Although it has only been two weeks since this new service was announced and launched in conjunction with the TV program The Block, there is momentum unlike any offer AMP has seen before. With a TV-only campaign, Better Property Pack is already generating leads, Adviser sales, and AMP Bank applications. We are pleased because we believe it represents a meaningful innovation that will truly help people own tomorrow. - A shift from a financial product to a holistic life service. - A significant number of adviser have been trained in the new integrated advice model. - Launched a range of tailored property packs that take that are designed for different customers at different stages of their life.