What metrics would you use to evaluate TransUnion's TrueIdentity identity protection service?

Introduction

Evaluating TransUnion's TrueIdentity identity protection service requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic understanding of the product's performance and impact.

Step 1

Product Context

TransUnion's TrueIdentity is a consumer-facing identity protection service designed to help individuals safeguard their personal information and credit data. The service offers features such as credit monitoring, identity theft insurance, and fraud alerts.

Key stakeholders include:

1. Consumers: Seeking protection against identity theft and fraud
2. TransUnion: Aiming to diversify revenue streams and enhance brand reputation
3. Financial institutions: Potential partners for offering the service to their customers
4. Regulatory bodies: Ensuring compliance with data protection laws

User flow:

1. Sign-up: Users create an account, providing personal information
2. Verification: Users verify their identity through a series of questions
3. Monitoring: The service continuously monitors credit reports and dark web for suspicious activity
4. Alerts: Users receive notifications of potential threats or changes to their credit profile
5. Resolution: In case of identity theft, users work with TransUnion's resolution specialists

TrueIdentity fits into TransUnion's broader strategy of expanding beyond credit reporting into consumer-facing services. This move allows TransUnion to leverage its vast data resources and establish a direct relationship with consumers.

Compared to competitors like LifeLock and Experian IdentityWorks, TrueIdentity aims to differentiate itself through its direct access to TransUnion's credit data and its user-friendly interface.

Product Lifecycle Stage: TrueIdentity is in the growth stage, with increasing consumer awareness of identity theft risks driving adoption. However, the market is becoming more competitive, necessitating continuous innovation and marketing efforts.