Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

What Is an Insurance App and How to Pick a Development Company

With everyone glued to their smartphones, companies must adapt to stay relevant
June 14, 2024

In 2024, mobile presence isn't just an option — it's necessary for businesses looking to expand their reach. Insurance firms are no exception. Frequent trips, valuable property, and an unstable global situation demand that insurance companies invest in insurance mobile app development. Let’s discuss the essential functions of these apps and explain what factors to consider when choosing a contractor.

What is an insurance app?

An insurance app is a mobile application that helps users manage their insurance policies, like health, car, property insurance, etc. On many platforms, all these types are combined to provide full-fledged services.

The target audience of such apps consists of:

  1. Policyholders. People who have insurance policies.
  2. Insurance agents. Professionals who sell and manage insurance.
  3. Claim adjusters. Experts who handle and process insurance claims.

What can users do with insurance apps?

The main tasks include:

  1. Check coverage. See what your insurance policy covers.
  2. Pay premiums. Make payments for your insurance policy.
  3. File claims. Submit claims for any incidents or damages.
  4. Receive notifications. Get updates about your policy and claims.
  5. Manage policies. View, renew, and update your insurance policies.
  6. Upload documents. Easily send documents and photos for claims.
What can users do with insurance apps?

The functions typically used in insurance apps

When ordering development, it's crucial to understand both the basic functions and the latest trends in app development. This will help you collaborate effectively with your contractor and ensure the right technologies are used in your app.

User registration and login
Secure authentication processes, including biometric options like fingerprint and facial recognition. Social media or email integration is typically used for easy sign-up and login.
Policy management
An option to manage all insurance policies in one place, with the opportunity to renew policies directly through the app.
Premium payment
Secure payment gateways with notifications for upcoming due dates and receipts for payments.
Claim filing
A straightforward process with step-by-step guidance to upload photos and documents easily and track the status of the claims in real time.
Document management
Digital storage of important documents like policy papers and claim forms.
Customer support
In-app chat support from live agents or AI-powered chatbots, comprehensive FAQs, and help sections address user queries and concerns.
Notifications and alerts
Real-time push notifications for policy updates, claim status, and payment reminders.

In addition to the basic functionalities, the insurance apps of tomorrow are expected to incorporate some of the most revolutionary technologies known to the modern world:

  1. Blockchain integration. Ensures greater security and transparency and builds tamper-proof records to issue policies and process claims.
  2. AI and machine learning. Transform customer service with AI-powered chatbots and personalized policy suggestions, and detect fraudulent claims.
  3. Telematics IoT integration. Enable usage-based insurance with real-time tracking of personal assets like cars and homes.
  4. Augmented reality (AR). Offers virtual inspections, damage reports, and interactive guides to policyholders.
  5. Big data analytics. Empowers intelligent risk calculation and customized offers based on user behavior.
  6. Microservices architecture. Ensures scalability and adaptability, ease of updating, and third-party integration.
  7. Cloud computing. Provides efficient data storage solutions, processes information with improved scalability, and reduces operational costs.
  8. Voice recognition. Enables voice-controlled commands and integrations with personal smartphone assistants like Siri and Google Assistant.

How to choose an insurance app development company

How to choose an insurance app development company

The success and relevance of the app are determined mostly by the development team. Follow this advice to get a perfect result:

Define what you want. Before approaching insurance app development services, outline your app's goals. What core functions should be implemented? What problems should it solve? A clear vision will guide the development process and ensure everyone is aligned.

Determine the app type you need. Decide whether you need a cross-platform app (compatible with multiple operating systems) or a native app (designed specifically for one operating system). This decision will significantly impact the cost of app development for the insurance industry.

Check the portfolio. Review the company’s portfolio meticulously. If they have experience with insurance apps, that's a huge advantage. If not, assess their flexibility and how well they handle projects in new areas. Look for innovative solutions and a track record of successful adaptations.

Assess their communication. Avoid companies that make vague promises. The project managers and QA specialists assigned to you should promptly answer your questions. Remember that trustworthy companies don’t force the clients to drag out the information – they take the initiative.

Learn about post-launch app support. Inquire about their post-launch support services. Understand their policies on updates, bug fixes, and technical support. A reliable development company will offer ongoing assistance and be willing to adapt the app as your needs evolve.

Discuss changes in the work scope. Figure out how they handle changes in the project scope. Flexibility is key in app development, as requirements can change. Ensure they have a clear process for managing modifications without causing significant delays or cost overruns.

A breakdown of costs

Estimated cost
Project duration
$20,000 - $50,000
2 - 4 months
$50,000 - $100,000
4 - 8 months
$100,000 - $250,000
8 - 12 months

Wrapping up

The development process is intricate and not straightforward. A reliable partner will lead you through all stages of development and offer you effective custom insurance app solutions. Choose sensibly and step into a new level of your business growth with a custom app!

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram