The UX/UI Design Challenges in Developing Insurtech Software for a Digital-First Insurance Experience

Having a functional, efficient and unique UX/UI design is necessary for any application to grow and create a seamless experience for Insurtech users. As the world is brimming with digital technology and misinformation, hence, one needs to be apt to the challenges and outcomes of their software for providing a digital-first insurance experience. 

A decade ago, insurance companies underwent a transformation, all the complex paperwork was streamlined into a few digital steps; however, the process of this transformation is not a simple procedure, rather it involves complex steps and hurdles in UX (user experience) and UI (user interface) to create the best software for the consumers. 

In this article, we will discuss the UX/UI design challenges and their solutions in developing Insurtech software for a digital-first insurance experience. It will further benefit the software in building customer confidence, cooperation, loyalty and interest. 

Challenges and Solutions to UX/UI Design in Developing Insurtech Software

In 2023, Insurtech software gained over 4.5 billion in investment due to its significance in boosting value, personalization and efficiency. The Insurtech software benefits everyone who works under the insurance agency management software, whether it’s brokers, policymakers, or customers. Now, we will discuss the UX/UI design challenges in developing insurtech software. 

Trust Deficit in Insurtech

Insurtech is riddled with jargon and complex procedures which are alien to the common man. Therefore, people regard the institution as transparency deficient due to the intricateness of insurance policies, products and procedures. However, it’s not the end that cannot be rectified. 

Here are some solutions to increase the trust of customers in the UI of insurance software:

• Transparency should be the main focus point; providing a simple understanding of policies and products and opting for less technical procedures. 
• All the documents, procedures and policies should be easy to comprehend. 
• To satisfy the consumers, the company should provide features and facilitation to the consumers that align with their interests, like policy stimulators and video testimonials of previous customers. 

Simplifying Insurance Products

All types of people come to obtain insurance products having varying levels of understanding. Hence, understanding the average proficiency of consumers in the coverage of insurance products, inclusions, exclusions, and multi-layer processes. The solution to this issue will be:

• The information structure should be user-centric, hierarchical and logically classified. 
• The content should be personalized and architected systematically. 
• Interactive features should be reflected in the system, such as FAQs, tooltips, promotions, and glossaries. 
• There should be inclusion of simple UI features:
  • Immediate policy renewals 
  • Visual graphs, representations of plans, and their comparisons.
  • Vernacular language support 
  • Supportive and efficient payment system 

Balancing AI and Human Touch

As AI and robotic chatbots have become widespread in software designs, however, Insurtech software with AI-recorded responses can isolate the consumers, leading them to be confused while searching for insurance features and products that align best with their requirements. 

The solution to this problem lies in balancing human and AI chatbots, user support, email options and chats which can give personalized feedback and suggestions to the users in case they feel troubled. 

Designing the Consumer-Centric Software

Although millennials and GenZ are tech-savvy and know their way online on websites and mobile apps. However, various people prefer traditional face-to-face interactions for finalizing something. Most of the insurance software is unable to fix the UI and UX challenges leading to significant challenges.

To improve usability, the software needs to 

• Updated regularly 
• Should have a particular target audience (identified and categorized after the in-depth user research)
• Clear font sizes and characters 
• Strong color contrasts 
• Keyboard navigation 
• Assistance for disabled individuals 
• Providing data security

Cross-Platform Consistency

Presently, users interact with software through multiple devices, such as smartphones, tablets, laptops, and iPads. Yet, they find it difficult to access software on multiple devices due to their lack of sync and access. 

Henceforth, the cross-platform compatibility and consistency of Insurtech should be institutionalized, so that customers can easily view the data from any device. 

Conclusion

Developing a compatible and competitive Insurtech software for a digital-first insurance experience requires seamless, personalized, inclusive, transparent, user-friendly and consumer-centric features. Researching the essential challenges and modifying them to increase useability can enable the insurance software to become efficient and progressive.