Designing a Seamless Red-Route flow for a Marketplace MVP
Inga Café-Ruoff
Project Overview
Smartsure is a seed-stage InsurTech Startup founded by veteran industry professionals bringing digital transformation and innovation to the traditional B2B insurance space. I was brought on to lead the product design and strategy of the MVP of their flagship product, a first-of-its-kind B2B digital insurance program, and capacity marketplace.
Team: Lead Product Designer 🙋🏻♀️ • Head of Tech • 2x Developers • CEO + Founder • Director of Business Development
Scope of Work: Research and Discovery • Vision and Strategy • Journey and User Flow Mapping • Information Architecture • Information Design • Visual Design • Design System lite • Lo and Hi-Fidelity Prototyping • UX Writing • Interaction Design • Handoff and QA
Timeline: 4 Months
The Problem
An experience audit, user and stakeholder interviews, usability testing, and journey mapping were conducted to kick off the project.
The experience audit revealed that the first version of the MVP - a digital Insurance program CMS-like tool, was complex and time-consuming with an off-line approval process that took several business days. Additionally, the platform was difficult to navigate with inconsistent wayfinding and information architecture that changed from screen to screen.
The result was that user drop-off rates were at 100%. User interviews revealed that the traditional, change-averse B2B insurance professionals found this process overwhelming and time-consuming, and assumed that they just "didn't get it."
The Solution
The research and discovery phase highlighted the importance of creating a user-friendly interface that was intuitive and efficient. It was clear that for the marketplace MVP to succeed, MGAs needed to first be able to successfully create and list their programs.
The final design transformed the red route into a simplified and shorter flow that provided value to the user early and supported the success of the product.
Key changes implemented
- Modularized Onboarding: Instead of presenting users with a single long form, the new design divided the onboarding process into smaller, manageable sections. Users now encountered a short one-page "Executive Summary," containing essential information for creating an insurance program.
- Progressive Completion: After filling out the short one-page form, users can now post their insurance program to the marketplace immediately. This change encouraged users to take the first step and provided a sense of accomplishment, as well as populated the marketplace - the key value prop of the product
- CMS-Style Management: The redesigned platform resembled a Content Management System (CMS) where users could access and edit their insurance programs easily. This approach reduced the complexity and made it easier for users to make updates and modifications.
- Document Upload Guidance: Provided clear instructions and visual cues for the program creator to submit supplementary documentation allowing for a bridge toward the digital transformation of the process.
Key Screens
Step 1: Executive Summary
The MVP delivered the user directly to the program's CMS screen, where the user would be able to complete the Executive Summary portion of their Insurance program.
Step 2: Executive Summary Preview
Once complete, the user can preview their Executive Summary before posting it to the marketplace.
Step 3: Confirmation Modal
With just six questions answered, MGAs are now able to share the executive summary of their program to the marketplace full of possible new opportunities for finding capacity.
Step 4: Insurance Program Marketplace
Where the magic happens! For the first time program creators and capacity providers can explore and find new opportunities beyond their existing network.
A key consideration in the design of this screen was choosing a design pattern that would be forgiving in the early stages of the company when there would likely be fewer listings - I wanted to avoid an empty shelf which would give a negative first impression.
Step 5: Insurance Program Invite Request
Once an Insurance Carrier finds an MGA program that could work in their portfolio they can request an invite to read the full Program Submission.
Step 6: Invite Request Notification
The Capacity Provider's request appears in the MGA's Messages, allowing for in-app communication.
Step 7: Messaging to discuss the program submission
After an invite request is accepted, messages facilitate the quick exchange of information allowing both parties to determine if the program and capacity provider are a match.
Outcome
The redesign of the onboarding flow resulted in several significant improvements:
1. Increased Completion Rates: The progressive completion approach led to a substantial decrease in user drop-offs during onboarding. Users were more likely to complete the initial form and post their insurance program before moving on to the subsequent pages.
2. Improved User Satisfaction: Traditional insurance professionals, who were previously frustrated with the lengthy onboarding process, reported a higher level of satisfaction with the new, more manageable workflow. The simplified design and CMS-style interface made it easier for them to navigate and understand.
3. Faster Time to Market: The ability to post insurance programs quickly encouraged users to start generating revenue sooner. The modularized approach allowed for parallel work on different aspects of the program, reducing the time needed to complete the onboarding process.
4. Enhanced Retention: Users who posted their programs early were more likely to return to complete the remaining pages, leading to higher user retention rates. This also resulted in a more engaged user base.
Conclusion
The InsurTech company's redesign of the onboarding flow successfully addressed the issue of high drop-off rates among traditional, technology-averse B2B insurance professionals.
By implementing a modular, progressive completion approach and providing a user-friendly CMS-style interface, the client not only increased completion by 90% but also improved user satisfaction and retention. The streamlined process allowed users to post their insurance programs faster, benefiting both the client and their users.
By focusing on simplicity, efficiency, and core functionality, the MVP was elevated from a time-consuming, high-attrition, "wizard of oz" to a highly functional digital product with high completion rates, setting the stage for increased value and future growth and laying the foundation for future feature and product expansions.
