The Problem With Insurance Is Bad User Experience: Insurtech Leaders Agree

Earlier this year, 60,000 technology experts from 170 countries descended on Lisbon, Portugal, to take part in Web Summit, the world's largest tech conference. As part of Web Summit, I attended MoneyConf, an insurtech and fintech conference, where the world's leading insurance companies, banks, tech firms and disruptive startups met. Here, I spoke with industry leaders about how they were changing insurance's long-standing image problem and improving user experience (UX) to better serve customers. Customers are unlikely to do business with any company that doesn't give them a good experience. "Customers want simplicity, more clarity. 'What did I purchase when I signed the contract?'" said Olaf Frank, head of global applications and interim CIO at Munich Re Group, one of the world's leading reinsurers.