Why the digital experience of insurance transactions is so important

With so much content competing for our attention in the digital space, we all as ‘users’ are well tuned to make snap decisions about if an app or website is really giving us what we want. The experts tasked with building these digital interfaces are well aware of how quickly people will make judgements, and so, User Experience (UX) and User Interface (UI) play a crucial role in ensuring that apps, sites and other experiences are user friendly.  A well-functioning digital experience is no longer just nice to have, it’s become an expectation. Considering how poor UI and UX can leave users with a lasting negative impression of a business, dedicating resources to these functions is a valuable investment for the future and a commitment to user satisfaction.    

Achieving a better insurance transaction experience  

For the insurance industry, having the right UI/UX is particularly important. As an industry with a history of being behind the technology curve, brokers and underwriters alike want their working lives to match the digital interactions they experience elsewhere. In this modern world, speed and simplicity count.  According to a recent Gartner survey, more than 70 percent of consumers of all ages prefer to self-service online rather than dealing with customer service handlers – which is why that self-service platform needs to be fit for purpose. 

While innovative digital systems can be great, they count for nothing if users aren’t getting the experience they want.  Indeed, these days, users are heavily inclined to simply switch to another provider at the first sign of trouble or friction. So, taking the time to understand your end-users, becomes vital to planning their journey, anticipating potential sticking points, and building an application that meets their needs. A well-designed application, such as a quote and bind platform, can turn a lengthy transaction into a quick and easy experience, saving users time and building trust.  

The Aqueous approach to a quote and bind trading platform 

As a business, we pride ourselves on how well we know our brokers and how we can address their individual needs.  A deep understanding like this has meant we’ve been able to implement a solid UX/UI into our recently updated quote and bind platform Its primary objective is to make the whole process as fast and easy as possible, as this is what our brokers told us mattered most to them.    

Our trading platform, created in partnership with SchemeServe, has been designed to deliver trade and sector-specific question sets for different trades and industries. Why? Because that way brokers only need to respond to relevant questions, saving them time and effort and ensuring they can get a quote in less than 4 minutes. 

SchemeServe has also approached the platform’s design to be user-friendly and intuitive.  Creating single-click functionality, alongside quick access dropdown menus and radio buttons, to further enhance the speed and simplicity of the whole process for end-users.  

As we progress through 2023 and in partnership with SchemeServe, we will continue to make significant improvements to both the UI and UX and we welcome all feedback from our partners! 

Real humans, when needed!  

As a business, the Aqueous team understands that providing the best digital experience is essential for our brokers and it’s a key part of our award-winning service.  But we don’t simply hide behind our computers and let automated systems make final decisions on inquiries that sit on the edge of our appetite, our team is always on hand to ensure that referrals are picked up and responded to same day.  

The human touch of our underwriters is what has brought us to where we are.  Aqueous has invested time and effort to cultivate and nurture the personal nature of our dealings with clients and customers.  So, while agility, interactivity, and accessibility are all key attributes of our trading platform, our team also stands ready to ensure that special or unique needs are properly catered for. 

If you’d like to know more about using the e-trading platform, get in touch with our team who would be more than happy to offer some training on getting the best from it.  

– Authored by Dan Dorrell, Trading & Distribution Manager