With the rise of InsurTech, insurance is undergoing an unprecedented digital transformation. Websites and apps now rule the sector, and with this shift come both opportunities and challenges. As digital platforms play a bigger role in the industry, user experience (UX) for insurance becomes a more important concern.
Amid the COVID-19 pandemic, 85% of insurance CEOs say they’ve accelerated their digitization. That’s a remarkable step forward, but it also means that digital transformation alone isn’t enough to stay ahead of the competition anymore. You need to make the most of these digital services, and UX is at the center of that improvement. As these trends continue, here are five reasons why UX for insurance should be a priority of agencies in 2022.
1. Users Prefer Self-Service
A recent survey revealed that 71% of customers today prefer to resolve issues on their own. People want self-service, leaving insurance agencies with a clear path forward for their digital initiatives. If you want to meet digital-native customer’s needs, let them do things themselves
Remember that any new tech should serve a purpose, and one of the most important purposes in InsurTech is enabling self-service. A good UX is essential for that goal. If your website or app is tricky to navigate, slow or irresponsive, it’ll be hard for users to do things themselves. If it has features like menus, personalization options, and fast load times that improve UX, self-service is easier.
2. Poor UX Drives Customers Away
A good UX can attract and retain customers, but the inverse is also true. Just as easy self-service meets the needs of a digital-native market, those customers will leave for another option if self-service isn’t easy. Studies show that 67% of customers leave a business because of poor experiences, and 91% of those who leave do so without formally complaining.
your UX is sub-standard, people won’t want to do business with you, even if you offer competitive services. Some key areas to consider in UX for insurance are responsiveness and navigation. Keeping designs minimal can make them easier to navigate and load faster, and digital assistants and menus can further guide quick navigation.
3. UX for Insurance Can Be a Challenge
Another reason why UX is so important for insurance agencies is that it can be hard in this industry. Filing a claim or comparing plans involves a lot of information, regulatory hoops, and specific considerations. Balancing all of that with an easy-to-use, understandable interface is no small challenge.
Automation tools are great for simplifying things and improving your UX. Claim or rate calculators, machine vision to analyze the damage, and virtual assistants can all handle things for users with minimal input, making insurance easier to work with. Tooltips and illustrations can also make otherwise complicated information easier to understand.
4. Your UX Affects Your SEO
UX for insurance isn’t just important for current customers, but also for attracting new ones. As you embrace digital information, you’re likely aiming to improve your search engine optimization (SEO). What you may not know is that SEO also includes UX considerations, not just keywords and content layout.