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Security in InsurTech – Predictions for 2018

The new year is right around the corner and we want to take a look at what will be the future of InsurTech in the coming year. This year 2017 was great for InsureTech with a lot of focus on AI, ML and related technologies trying to make the insurance industry ready for the future. 2018 is going to take this forward.

The insurance industry would be in lockstep with the new technology and as the advances happen in the AI and ML, they would be picked up. Our focus for this article is around security related use cases that will help the insurance industry.

Advances in analytic technology such as Machine learning and AI are crucial in the fight against insurance fraud. To keep pace with sophisticated rings that constantly develop new scams, here are some trends to keep an eye on in 2018.

Ellen Roberson, Director of Insurance Marketing at SAS offering following insights

* Digital Policy Shopping: In 2018, millennials and other generations will continue to use mobile and online channels as a way to shop and service their policies. It’s a boon for convenience as more insurers focus on digitization to align with consumer expectations, but this digitization comes with risks, including an explosion in fraudulent claims.

* Real-time Authentication: Increasingly, authentication won’t just focus on prospects and customers. To prevent data breaches, insurers will increasing apply real-time authentication to everyone logging into their portals throughout the extended ecosystem, including brokers and agents.

* Premium Leakage: Premium leakage is defined as missing or erroneous underwriting information. Personal lines automobile insurers will face at least $29 billion in premium leakage – missing or erroneous underwriting information that undermines their rating plans.

* Health Care Fraud: State and federal authorities have reported increases in fraud, such as identity theft, fraudulent billing and deceptive sales practices.

* Agent Gaming: Premium misappropriation is the most common type of insurance fraud. Insurance agents, especially those who manage one person groups, can have access to vast amounts of their client’s funds. If they are under extreme financial pressures, they often rationalize their actions. Insurers must be vigilant in order to protect their customers and their reputations.

It is going to be an exciting year ahead. Insurance industry is on a path to making itself more technology oriented and reap the benefits of technology even more in the coming year.

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Bringing Interfaces to Life: The role of animation in UI and UX

Interfaces are everywhere. The user experience encompasses the overall experience a user has while interacting with a product or service. Animation, in the context of UI and UX design, involves adding motion to these visual elements to create a more engaging and intuitive user experience. Animation may serve a functional purpose by guiding users or providing feedback.

Think of motion as a design tool in your UX journey. It should help achieve the user’s goals or contribute in some way to enhance the experience. Animation shouldn’t be distracting or excessive. In other words, if it gets in the way of the user accomplishing a task or takes up more seconds for what should be a quick task, then it becomes unnecessary and annoying.

One common example of animation in UI design is the loading spinner. Instead of staring at a static screen while waiting for a page to load, a spinning animation lets users know that something is happening in the background. This simple animation helps manage user expectations and reduces frustration.

Introducing animations to the interface serves a psychological purpose as well. One aspect involves ensuring users remain informed throughout their interaction, minimizing ambiguity. Uncertainty can lead to user anxiety; for instance, if a page is loading without any interface feedback, incorporating a micro animation can be beneficial in providing reassurance. Although not all problems may need animations, adding them increases their appeal.

In recent years, several applications have pushed the boundaries of animation in UI and UX design. One notable example is the Duolingo app, which uses playful animations and interactive elements to make language learning fun and engaging. Interactive animations can gamify the user experience, making mundane tasks more engaging and Duolingo has used this to its advantage. Another example is the Headspace app, which employs calming animations and transitions to create a serene user experience. 

Let’s look at Duolingo’s application which embraces animation to engage the user’s attention. It keeps users hooked and gives them the comfort of gamification. This not only makes the information more visually appealing but also helps users quickly understand the current stage. It keeps the user hooked throughout the level with its cute animations.

Credits: Kim Lyons 

Additionally, captivating animations can also serve to promote and enhance the appeal of your product. 

Micro-animations extend beyond just the gamification of applications; they can also be leveraged to enrich the aesthetics and express the essence of your product. They contribute to making your website feel more alive and interactive, elevating the overall user experience.

UI/UX

In essence, animation in UI and UX design is not merely about adding visual flair, it’s about creating meaningful interactions that enhance user engagement and satisfaction. From improving usability to expressing brand identity and personality, animation has the potential to transform digital interfaces into dynamic and memorable experiences. Whether it’s guiding users through a process or providing feedback animation, it has the power to elevate the overall user experience. Next time you witness animation appreciate the magic that brings it to life, you might just be amazed by its impact.

About the Author: 

Shivani Shukla is a Senior UI & UX designer at Mantra Labs. It’s been a while since she started her journey as a designer. Updating her knowledge and staying up to date with the current trends has always been her priority.

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