Iamfine - student project

Iamfine - image 1 - student project

Iamfine is an automated daily care call service that checks in on elderly Loved Ones. We call the Loved One every day, they pick up and verify everything’s alright, and we notify their Care Circle (i.e. family, friends, neighbors, caregivers) that they have checked in.

When checking in, the Loved One can leave a voice message for the Care Circle. We send email/text alerts if the Loved One does not pick up after multiple reminder calls.

Our service gives Care Circle members peace of mind that their loved ones are okay and provides an affordable alternative to in-home care or assisted living. It also promotes elderly loved ones’ independence by allowing them to age in place with the support of their Care Circle.

Business model: monthly or yearly subscription for checking in on the Loved One. We do not charge based on the number of people in a Care Circle (there can be up to 8).

1. List all major “players” in the system (eg. a marketplace may have two major players: buyers & sellers)

a) Loved one

b) Care circle - we hypothesize virality will be through Care Circle

2. List out any selfish reasons why each player would need their contacts/friends to join the service

a) Loved One: wants friends/family (Care Circle) to join so they know Loved One is checking in and doing okay. (Inherent Virality)

[4] vast majority of seniors want to remain independent and age in place, not in an assisted living or nursing home. Checking in every day will provide peace of mind for Care Circle while allowing the Loved One to continue living at home. Having the right people in the Care Circle will allow the Loved One to feel valued and supported.

b) Care Circle: will invite others who care about the Loved One to the immediate Care Circle, so they can stay informed and help with caregiving (Inherent Virality). They also want others to use Iamfine for their Loved Ones because of trade virality: (1) when Care Circle member invites someone who becomes a new paying subscriber, Iamfine will donate $10 to an elder-care related charity of the referrer’s choice or (2) free month each for referrer and referral.

[4] People want to build and foster a support community for the Loved One and each other, as caring for an aging Loved One is challenging. Often times, there is a family member who handles most the caregiving, and she wants to be recognized for her hard work.

[4] Donating to charity will allow people to feel powerful and good about themselves. The system will give them a way to achieve higher status. Alternatively, the referrer can get a month free for their Loved One.

3. List out all things you could possibly charge each player for on the service

a) Loved One: pay for monthly subscription (this is an option, but we expect someone in the Care Circle to pay for it)

b) Care Circle: pay for monthly subscription (base), upsells: pay for multiple daily care calls

4. For 2 and 3 above give a very short reason you think the player would be motivated to need their contact or pay for the service