product service innovation

Flagship Social Impact Programme

Connecting Royal London to a social issue of relevance to the business, its customers and society

Our remit was to help develop a new flagship social impact programme, to work alongside Royal London’s existing social impact commitments, and to engage customers, colleagues and wider stakeholders in society.

The first phase focused on the identification of a compelling programme theme. Recommending a focus on a single, powerful issue that would align to Royal London’s core beliefs and capabilities, and where the business could make the biggest difference, we set about working with senior stakeholders in Social Impact, Strategy, Financial Capability and Marketing, as well as with the community engagement champions from across the business. At the same time we researched societal issues of relevance to the financial services landscape (with a lens on investment, savings and pensions).

A key moment in the process was the ‘immersion day’, when we engaged the senior stakeholders in an immersive experience with charities and people with lived experience of financial vulnerability.

Our research identified that unanticipated life shocks – such as job loss, bereavement and illness – can easily result in financial crisis for many people; and this was before the Covid-19 crisis began. The result was a new flagship theme that immediately resonated: Helping prevent a life shock becoming a crisis.

Going into partnership with an expert charity in this area was the natural next step for Royal London. We researched, ran informal conversations and formal sessions with charities and helped with the deliberations – and the result was a brand new flagship partnership with national poverty charity Turn2us.

The partnership, which we’ve been helping to design, will focus on the two organisations sharing insight and innovating together for the benefit of Turn2us users and Royal London customers; campaigning and influencing together to create systemic change; and sharing resources and human capital to help develop both organisations – in short, a truly strategic partnership.

“Three Hands worked with us to bring expert social insight, knowledge and challenge to land on a theme that has resonated with everyone across the business.”

Nadia Al Yafai, Group Head of Social Impact & Responsibility, Royal London