Insurance App Development. What You Need to Know
In this article, we’ll discuss what it means to develop the mobile app for an insurance company.
Progressive mobile technologies have a tremendous impact on our lives. The mobile application is a great tool for managing tasks, reminders, health-related alerts. Moreover, the applications allow not only taking care of the health but also may be helpful in difficult situations. Many insurance companies and startups are adopting specific mobile applications that make cooperation with customers more transparent and user-friendly. Instead of wasting time calling the hotline, the customer can open the mobile app for insurance in their smartphone or tablet and get the needed assistance. At the same time, this approach is advantageous to most insurance companies, as it can reduce the call center maintenance costs.
Mobile applications’ market potential is enormous. In just a few years, every company will be obliged to have a first-class application, so as not to be an outsider in the market. Today, request for mobile applications in both Android and iOS are becoming higher. Market realities are such that now the mobile application needs to be not only comfortable and functional, but also bring aesthetic pleasure to the user. Icons of applications that the user sees on the screen are the face of your company, customer loyalty and, consequently, the level of income of the enterprise often depends on the design.
Read also: 5 Tips for Creating Great Mobile App Design
Customer Benefits
The mobile application for insurance companies will help customers understand all the intricacies of insurance and get in touch with the organization. There are lots and lots of possible options for the use of such applications, for instance, the user can:
• enroll in a clinic or call the doctor home;
• get medical care in a foreign country without the knowledge of the local languages;
• submit an application to summon average commissioner in the event of an insured event under policies of automotive insurance supplied with current position’s GPS coordinates;
• learn the appeal status and the amount of compensation for the insured accident;
• request a callback or contact the insurance company through the SOS button;
• calculate the cost of insurance services; order the insurance services delivery to your home or office;
• settle losses on car insurance and passengers’ insurance policy;
• get detailed instructions on the action plan in case of the insured accident;
• receive reminders on the extension of policies and insurance payments;
• discover the detailed information about the insurance company (office locations, methods of travel, work times, a list of services, etc.);
• follow the news and campaigns;
• get the detailed information about the purchased insurance services, their price, store information on the policy numbers, renew, extend and purchase services;
• summon an insurance agent to the convenient location.
In fact, the range of options is limited only by your imagination. If desired, the insurance application development can include any of such features as integration with social networks, obstetric services, banks, ticket offices, tour operators, airlines, hotel reservations and any other organizations or companies. Users’ satisfaction is increased thus - instead of using multiple disparate applications, they can simply install one. One thing should be noted, though – the more options are implemented, the more insurance app development cost.
Benefits for the company
Of course, mobile services are convenient not only for customers but also for the insurance companies themselves. The following advantages are notable:
• Interest;
Car insurance, "visa" insurance, voluntary health insurance, MTPL insurance cost less. Insurers get rid of the intermediaries, save up to 15% -20% of the insurance value of the product and are able to provide their customers with discounts.
• Ease of use;
The policy can be negotiated over the network without the need to move in space. It saves fuel and time, and there is no need to create costly forms of insurance policies and other paper documents. Storage and disposal of the papers are also unneeded.
• Target audience ruling.
The insurer may direct the tailor-made information to customers, for example, about promotions or new insurance idea. This approach makes it possible not to overload the insured with the excess information, but at the same time, to build personal communication strategies. In terms of marketing, mobile apps allow to clearly pinpoint the customer’s preferences and to offer products of interests specific to the consumer. This often allows increasing the additional sales notoriously.
Some insurance companies have gone further, completely entrusting the travel insurance policies issuing to the mobile applications. The client can compose the tourist policy in five minutes and settle the bill by credit card, the details to which are stored in a mobile application. The policy itself will be sent to a specified e-mail address or saved automatically in an application. This enables the smartphone owner to store all of their documents electronically. Imagine how much faster and cheaper the program can make such routine actions, instead of the hired person.
And last but not least, let’s review some tips on how to make an insurance app.
Implementation of the application
By implementing the mobile technology into your insurance business’ work, you kill two birds with one stone. Firstly, you receive an effective tool that in many cases replace a personal visit to the customer's office, and saves their (and your) time and effort. Secondly, you will have another interactive remote distribution channel available to customers at any time and in any place.
We always strive to simplify customer interaction with the company, to make it as easy, transparent and understandable for them, as possible. With the launch of the custom application, the development of a completely new services format begins, which creates the high benefit for the policyholders, increases their involvement and loyalty to the company. Mobile insurance is a product that embodies the future of the services.
When ordering an application you need to remember that people need a mobile service that allows solving the problems remotely, without unnecessary calls and runarounds. People want to use their smartphones as a useful tool - not simply a phone, but a personal assistant.
However, with all the ease of use, the functionality of such applications is quite intricate and requires complete immersion of entire teams of development experts. Fortunately, today in the IT industry companies like Erminesoft exist, which are potent in the field of mobile insurance developments and hire developers.
Read also: How Much Does It Cost to Develop a Mobile App?
The most preferred embodiment of the insurance app development has always been considered the hiring of an experienced contractor as they would have the knowledge of how to create an insurance mobile app, all of the necessary resources and, more importantly, the clear image of the particular type of application development process, allowing them to focus on your company’s specifics.
We use the complete range of new technologies for iPhone and Android development, React Native framework, in particular, to fully meet customer’s needs and to cover a maximum of their challenges.
Now we are creating an application for tourist and insurance companies, which allow tracking the user’s movement when they are abroad. This helps to handle the insured accidents that may occur to the user during their journey and provide them with timely assistance. The uniqueness of the application is that it allows for identifying the user with fingerprints, getting the notifications upon them crossing the borders, and offering services of a wide range of specialists, depending on the type of insurance, the insured event and the country where the incident took place. In addition, the application includes all of the most necessary services:
• GPS-navigation;
• Google Translate;
• Video recording and sending;
• User’s status and location tracking;
• History and personal data storage;
• Currency conversion;
• Personalized addresses to the user.
At the same time, we understand that every company needs their own, particular sets of functions depending on the chosen strategies of development and customer interaction. That is why we are ready to assist with any product configuration creation, emphasizing it to your service style. Eager to create insurance app for Android? Maybe insurance app for iOS? We are at your service via [email protected] with a consultation of our CTO.
