Creating a mobile app for insurance Companies: main benefits and possibilities.

In 2024, digitalization is taking over all areas of life. And this is not surprising, because mobile applications reduce the burden on employees and help optimise work processes in the company.

These processes also affected such an industry as insurance. There is even a special term — InsurTech, which combines the insurance and technology sectors.

Four years ago, the global InsurTech market was estimated at $5.5 billion, and by 2025, according to experts, this figure will reach 10 billion. Digitalization touched the insurance industry later than other areas of business. Despite this, analysts believe that InsurTech will be as successful and profitable as FinTech.

Most InsurTech activity remains concentrated in the US, UK and China. But there are also large players in Russia: for example, AlfaStrakhovanie. Their revenue in 2020 reached a record high of 196 billion rubles, an increase of 19% compared to 2019.

How can a mobile application for an insurance company improve customer experience? Using your smartphone, you can quickly and easily submit a request for an insurance policy, ask a question to the support team and receive personalised recommendations. All this makes creating an application a necessity. This solution will increase the loyalty of old customers and attract new ones.

Do you want to order application development now? Fill out the form and our manager will contact you within one business day.

Basic functionality of a mobile application for an insurance company

Let’s look at what must be included in an application for an insurance company.

1. Personal account

The place where all information about the user will be stored: full name, documents, information about policies.

It will be useful to add bank card details here so that the client does not have to enter them every time. I added it once, and then you will only need a code to confirm operations.

2. Information about types of insurance

This section should contain a detailed description of all services that the company provides. For example, the term and amount of insurance and what exactly will be insured.

This will help the client choose exactly the service that suits him best. For easy navigation through the section, you can add filters by category: health, car, family.

3. Submitting an application

The feature that saves users the most time. The ability to apply for a policy online is the most useful solution in the application.

How can a mobile app streamline the insurance claims process? The user submits the completed form and waits for a response, and the application shows the status of the application. Electronic filing saves time for both clients and employees and speeds up processing.

4. Payments

An important part of an insurance application is to ensure safe money transactions. Add the ability to save user bank cards and enable automatic payment.

You can also add transaction history in this section so that clients can track their spending.

5. Chat with support

This feature includes the ability to contact the insurance company and ask a question. Users often encounter problems, so it is important that an employee can respond quickly.

This could be a chat within the application itself or communication via email and mobile phone. High-quality and fast assistance to customers will increase their loyalty and trust.

6. Notifications

Remind users about an upcoming payment, change in tariff, or update the status of an application through pop-up notifications on the smartphone screen. In addition, you can report promotions or personal offers.

Want all these features in your insurance app? Leave a request and we will create a product ready for launch for you.

Are you interested in creating an insurance application? Contact us for top-notch mobile application development services.

Examples of insurance applications

We’ve put together a selection of the best insurance apps on the market to show you what the apps can do with examples.

AlfaInsurance

Insurance application from one of the largest banks in the country. Collects in one place all insurance policies of users: CASCO, OSAGO, medical, property insurance.

The application offers many types of insurance, and a personal assistant will help with their purchase. There is also a function “Make an appointment at a clinic/call a doctor at home” when an insured event occurs.

GEICO Mobile

GEICO is one of the largest auto insurance providers in the United States. Users can find out insurance information, make payments, update personal information, submit and track claims and monitor their status.

In addition, customers can get help right on the road: see where the tow truck is going or use the car rental service and find the nearest gas station or service station.

Ingosstrakh

Allows you to apply for CASCO insurance without personal presence in the office. To do this, the user sends a photo of the car, answers a video call from the manager and then receives ready-made insurance.

In addition, you can purchase other types of insurance policies, make payments and receive notifications when the policy expires.

Pampadu

Service for agents. The platform contains offers from several insurance companies. Clients choose the service they need, and insurance agents help with the purchase and registration. They receive a certain percentage from each transaction.

In such a scheme, everyone benefits. Policyholders see all the offers on the market, agents easily find clients and earn commissions, and the insurance company sells more policies.

Security and privacy in insurance company mobile applications: important aspects

Since the application works with personal data and finances, it must have reliable protection against hacking. Create reliable servers and prevent hackers from stealing your clients’ money. Security and reliability will make your application more attractive to potential users.

How to ensure data security and protection? Use reliable security protocols, for example:

• HTTPS — for a secure connection;
• WAF — controls the interaction between the server and the client during the processing of HTTP packets.
• The application must also comply with the laws of the country where it operates. To achieve this, developers can consult with lawyers on all necessary issues.

Are you interested in creating an insurance application? Contact us for top-notch mobile application development services.

Steps to develop a mobile application for an insurance company: from idea to implementation

Step 1. Analysis of the idea

Before creating an application, you need to analyse the market, audience and your future competitors. You need to understand how your product will stand out from competitors and what user problems it will solve. Only after this stage can further work begin.

Step 2. Finding a development team

This point is no less important than the previous one. Without a reliable team, you will not create a high-quality and competitive application.

There are two options for the development of events: hire freelancers or order development from an outsourcing company.

The second method is more suitable. This way you will get a ready-made team and be sure that the developers have relevant experience. In addition, the costs of creating a product are reduced, because you do not need to spend time and money searching for the right personnel. Application support even after launch is a nice bonus that many outsourcing companies have.

Step 3: Choose a platform

Mobile applications are developed for Android and iOS platforms. But if you need to save your budget right now, you can stop at only one of them and choose the one where the application has fewer competitors. This option is best used as a last resort, because sooner or later you will order Mobile application development for a second platform. In our experience, if you start developing on two platforms at the same time, it will be cheaper than developing applications on iOS and Android one by one. This was discussed in more detail in the article about myths about mobile platforms.

Step 4. UX/UI design

The studio you entrust the development to should analyse competitors to understand what visual solutions will make your product attractive to users. Then a prototype of all the screens is usually created. And at the end — a finished design that will appeal to future users of the application.

Step 5: Define Functionality

Above we have already described all the necessary functionality. At the start, you can limit yourself to only the essentials, and then introduce new useful features into the application.

Step 6. Development and tests

And finally — the actual creation of the finished product. Developers write code and connect third-party services. Before releasing an application to the store, its operation is checked: testers analyse the product for bugs. And then, if necessary, they are eliminated. Only after this stage can the product be launched on the market.

Step 7. Support and development

After release, the application requires support. Not moral, but technical. The development team should regularly update the application for upcoming versions of systems, process user feedback and make changes that will make your product better. Therefore, when choosing developers, also pay attention to whether the team is ready to cooperate with you for a long time.

Are you interested in creating an insurance application? Contact us for top-notch mobile application development services.

The cost of developing a mobile application for an insurance company: factors affecting the project budget

On average, application development costs 3–4 million rubles:

• analytics and design — 500 thousand;
• design — 420 thousand;
• backend development — ​​from 500 thousand;
• functionality development — ​​1 million 600 thousand.
• It is important to understand that the cost depends on several factors. First of all, this is the number of platforms, functionality and scope of design customization. Accordingly, the more work on each of these points, the more expensive it will cost to create an application.
• How do we assess? The first time the cost of the application is calculated at the stage of acquaintance between the client and the studio. The customer tells us how he imagines the functionality of the future product. Then we conduct an interview to detail the requirements, and give the finished list of functions to the developers for evaluation.

At this stage, we try to orient the future client what budget he will need to create the project. The second time we will make an assessment after the analysis and design stage — since it is this stage that will allow us to fully determine all the mechanics.

Development is a process with a lot of unknowns, so the price can change both up and down. But in any case, you control the price and it will not change without your decision. We talked about this in detail in our article.

Do you want to order the development of an application for Insurance? Call +7708889555 or write to us. We will find out the goals and objectives of your service and give you the approximate cost of creating an application.