Build or Improve your
Insurance Tech Product
For your insurance product you'll need
01
Product Designer
A Product Designer for digital products is like your blueprint master. They design the look, feel, and flow of your app or website, making sure it's visually appealing, easy to navigate, and provides a smooth user experience.
02
UX Researcher (optional)
A UX Researcher is your user's advocate. They dig deep into how users interact with your digital product, studying their behaviors, needs, and motivations. Their insights help make your product more intuitive and user-friendly, ensuring it truly resonates with your audience.
Top Insurance tech 
Sam
Product Designer
Consumer Electronics
14 years experience
Lauren
Product Designer
Automotive, Aerospace
11 years experience
Bruno
UX Designer
Home Appliances
10 years experience
Creating
Exceptional
Insurance Tech Products
Insurance tech products, also known as InsurTech, have transformed the way insurance companies operate, bringing efficiency, innovation, and customer-centricity to the fore. These digital solutions span across functions such as claims management, underwriting, distribution, and customer service. Building an exceptional InsurTech product is a complex process that requires understanding the industry, identifying gaps, and leveraging technology to deliver user-friendly solutions.
An outstanding InsurTech product is one that simplifies complex insurance procedures and offers a seamless user experience. It's not just about embedding technology into insurance processes; it's about understanding the pain points of the end-user and designing solutions that address these. Following the principles of design thinking—empathy, ideation, prototyping, and testing—is key to achieving a product that meets user needs and enhances their interaction with the insurance process.
Fastest Growing Companies in the InsurTech Space
The insurtech sector is undergoing a remarkable transformation, driven by companies that are redefining the future of insurance with innovative technology and user-centric products. Among these, some organizations have recorded meteoric growth, attracting significant investment and attention. Central to their success is the emphasis on an exceptional user experience (UX), making insurance more accessible and tailor-made to the modern consumer's needs.
These companies have leveraged cutting-edge algorithms, comprehensive data analytics, and intuitive digital interfaces to provide personalized services and pricing models. Their growth trajectories are not just reshaping their balance sheets but also the very landscape of insurance, signaling a new era where technology meets personalized care. Following this introduction, we'll explore three of the fastest-growing stars in the insurtech sky.
Zego
Search Growth: 700% exploding in 5 years
Founded: 2016
Location: London, United Kingdom
Funding: $281.7M, Series C
Specialty: Commercial car insurance
Offerings: Includes private car, scooter, courier van insurance; fleet coverage for corporate clients
Pricing Model: Usage-based
Kin Insurance
Search Growth: 408% in 5 years, exploding
Founded: 2016
Location: Chicago, IL
Funding: $443.2M, Series D
Specialty: Home insurance
Coverage: Natural disasters, including hurricanes, earthquakes in 4 US states
Platform: Customizable coverage using property data analytics
Marshmellow
Search Growth: 1125% in 5 years, exploding
Founded: 2017
Location: London, United Kingdom
Funding: $134.8M, Debt Financing
Specialty: Car insurance
Innovation: Considers international driving records for competitive pricing
Milestone: Over 100,000 policies sold
Enhancing Your InsurTech: Collaborating with Specialists
Improving your InsurTech product can benefit immensely from collaboration with various specialists. UX/UI designers can enhance the look and feel of your product, making it user-friendly and engaging. Data scientists can help analyze user data to inform product enhancements. Software developers ensure the product runs smoothly, while cybersecurity experts ensure it is secure and protects user data.
Common questions from founders
What are the key factors to consider when building an insurtech product?
When building an insurtech product, it's crucial to prioritize user experience, regulatory compliance, and data security. The product should be designed to simplify the insurance process for users, making it easy to understand, purchase, and manage policies. Additionally, ensuring compliance with insurance regulations and protecting sensitive customer data with robust security measures are essential to building trust and avoiding legal pitfalls.
How can technology improve the customer experience in insurtech products?
Technology can significantly enhance the customer experience in insurtech products by automating processes, providing personalized policy recommendations, and offering seamless digital interfaces. Features like AI-driven chatbots for customer support, mobile-friendly platforms, and real-time policy management tools can make it easier for customers to interact with their insurance provider, leading to higher satisfaction and retention rates.
What role does data analytics play in the success of an insurtech product?
Data analytics is a cornerstone of successful insurtech products, as it enables companies to better understand customer behavior, assess risk more accurately, and optimize pricing models. By leveraging big data, insurtech companies can offer more tailored products, detect fraud more effectively, and make informed decisions that enhance profitability and customer satisfaction.
How can insurtech companies ensure regulatory compliance while innovating?
Ensuring regulatory compliance while innovating in the insurtech space involves staying up-to-date with insurance laws and regulations, working closely with legal experts, and incorporating compliance checks throughout the product development process. It's important to build flexibility into your product to accommodate regulatory changes and to prioritize transparency in how policies and claims are handled, which helps maintain trust with both regulators and customers.
What are the common challenges in developing an insurtech product, and how can they be overcome?
Common challenges in developing an insurtech product include navigating complex regulations, gaining user trust, and integrating with legacy insurance systems. These challenges can be overcome by investing in strong legal and compliance teams, focusing on clear and transparent communication with users, and designing products that can easily integrate with or replace outdated systems. Additionally, user-centered design and thorough testing can help ensure that the product meets customer needs and works seamlessly across various platforms.
Boosting Your Team's Capabilities with Design Match
In the journey of developing an InsurTech product, you may require additional resources or specific expertise. Design Match is a flexible platform designed to connect businesses with skilled specialists on demand.
Design Match provides access to a broad range of professionals, from UX/UI designers to cybersecurity experts. This allows you to augment your team as needed, ensuring you have the right talent for each stage of your project. By integrating Design Match into your hiring process, you can deliver top-quality work, driving innovation and fostering a culture of creativity within your team.
What founders love about Design Match.
Design Match enabled us to get talented and experienced talent into our organization quickly. They were all a great culture fit and made an impact almost immediately.
Ian Hutchinson
General Manager @Hyphen Group
Design Match has been able to match us with three different designers, all for different projects. In the past I use to go on Dribbble and spend hours looking through proposals.
Dean Eyolfson
Product Manager @Simublade
The process of being matched with a designer simple and streamlined. Our matcher considered all the aspect of our company. Whether it was cultural fit or actual experience.
Quinn Favret
Founder
Design Match enabled us to get talented and experienced talent into our organization quickly. They were all a great culture fit and made an impact almost immediately.
Ian Hutchinson
General Manager @Hyphen Group
Design Match has been able to match us with three different designers, all for different projects. In the past I use to go on Dribbble and spend hours looking through proposals.
Dean Eyolfson
Product Manager @Simublade
The process of being matched with a designer simple and streamlined. Our matcher considered all the aspect of our company. Whether it was cultural fit or actual experience.
Quinn Favret
Founder
Why hire your next product designer with Design Match
Risk Management
We take care of international compliance, vetting, legal and financial components of hiring a designer. We provide a foundation for sustainable growth.
Flexibility
Our weekly billing model allows your designs to work alongside the growth of your startup. There are no long-term contracts at Design Match.
Support
Design Match is run by designers who not only help you find the perfect match, but can provide suggestions, tools and support along the way.
today
