Transamerica Commits to Research Collaboration With AgeLab

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Jul 15, 2013, 08:00 ET

BALTIMORE, July 15, 2013 /PRNewswire/ --

Transamerica, a national leader in retirement planning, life insurance and investments, today announced a long-term research collaboration with the Massachusetts Institute of Technology's (MIT) groundbreaking AgeLab.

MIT AgeLab's goal is to design, develop and deploy innovations that touch how the world's aging population will live, work, and play tomorrow. The inventions and research focus on health and wellness, transportation and community, housing and home services, business and policy innovation, retirement and longevity planning, as well as innovations for work and the workplace.

Transamerica's Individual Savings and Retirement (IS&R) division is leading the engagement with the MIT AgeLab. IS&R focuses on financial strategies and solutions that help people save for retirement, as well as protect their savings leading up to and throughout retirement. This critical phase of life is when the effects of aging can significantly impact the finances of those individuals and their families.

The MIT AgeLab research, white papers, and presentations will help frame how Transamerica and its business partners communicate with and advise their customers. "We are a company that for more than a century has been helping people create better outcomes to their financial future," said Blake Bostwick, chief operating officer of Transamerica's IS&R division. "MIT's research on the aging process is something that touches all of our lives, and strikes at the core of the services and expertise Transamerica provides for millions of customers. MIT's reputation is second to none, and we are honored to be working with Dr. Joe Coughlin and his team, and look forward to implementing their research into our business."

Joseph F. Coughlin, Ph.D., who teaches policy and systems innovation at MIT, is the director and driving force behind MIT AgeLab. Coughlin was recently quoted in MarketWatch advising today's college grads that they should manage their health like an investment portfolio, prepare for multiple careers and the likelihood of 60 or more years of work due to increased longevity.

In addition to his extensive portfolio of peer-reviewed materials, Coughlin has advised numerous governments, the World Economic Forum, and was appointed by President George W. Bush to serve on the White House Advisory Committee on Aging. Fast Company magazine named him to its list of the "100 most creative people in business," and the Wall Street Journal called him one of "12 pioneers who are changing your retirement."

MIT AgeLab was created in 1999 and is a multi-disciplinary team of researchers who work with businesses, governments and non-profits worldwide to improve the quality of life of older people and those who care for them. The lab is based within MIT's School of Engineering's Engineering Systems Division.

About Transamerica

The Transamerica companies offer a wide array of innovative financial services and products with a common purpose: to help individuals, families, and businesses build, protect and preserve their hardearned assets. With more than a century of experience, we have built a reputation on solid management, sound decisions and consumer confidence. Transamerica became a part of the Aegon family of companies in 1999. Further information: transamerica.com.

Individual Savings and Retirement (IS&R) is a division of Transamerica. Transamerica companies are part of the Aegon Group. Copyright 2011 - 2013 Transamerica Corporation, 4333 Edgewood Road NE, Cedar Rapids, IA, 52499 - All Rights Reserved.

About Aegon

As an international life insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon companies employ approximately 24,000 people and serve millions of customers across the globe. For more information: aegon.com.

SOURCE Transamerica