Background:
The Marketplace is a digital platform that automates and simplifies reinsurance transactions between insurers and capital market investors using Vesttoo technology. It has separate access for insurers and capital market investors, as well as advanced tools for internal users. The tool makes it possible to model the reinsurance risk, and structure and price it as a financial instrument suitable for the capital market, then find the right investor, optimize its investment portfolio, and monitor the portfolio and individual transactions. The main challenge is to present a large amount of complex information and data in a simple and accessible way.
The Task:
We want to create a feature that would allow the insurers to upload granular data as part of the deal process. This data is necessary for Vesttoo to continue the risk modeling process.
Feature Description:
The feature should include uploading options for different kinds of data and information, as well as templates, adding comments options, and presenting the uploaded files. Users should receive detailed information regarding the uploading process, which perhaps first-time users would have to read and confirm before proceeding.
Research Insights: Pain Points
• Users don't have a specific format and the information has no specific order
• They're used to raw data files
• Data security: the insurers want to be certain that the information they’re sending to Vesttoo is secure
• They have to provide additional information while uploading and there might be a misinterpretation of the questions they are being asked. Therefore, Vesttoo might receive wrong or incomplete information, resulting in more back and forth with the user
Possible User Flows:
Initial Sketches:
Final Screens:
One of the main challenges was to provide the necessary instructions for uploading each type of data. At first, we presented it under an info "i" icon, but this information was too important. The solution was to present a screen with instructions only for first-time users. For repeat users, this will be optional.
