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Insurance Mobile App Development – Why You Need It

23 Feb 2021

Mobile applications have emerged as the game-changer for every domain and the insurance sector is no exception. Mobile apps in the insurance industry bridge the insurer and policyholder gap through seamless and swift solutions. It allows the policyholders to have on-the-go access to their insurance details. And, they enable insurance agents to improve productivity with faster request closures.

The digital transformation wave has created the need for established companies and startups in the insurance market to explore the need to develop mobile applications. Therefore, it is time to digitize your insurance workflows and processes by partnering with an experienced software development vendor.

Rishabh Software supports organizations in the BFSI domain with multi-purpose mobile app development services. We offer building of custom insurance mobile apps that enable better customer services, reduce operational costs, and increase ROI. If you are an insurance business looking to develop a mobile insurance app, this blog is for you.

Here is what it will cover;

  • Why Mobile App Development for Insurance Industry
  • Type of Mobile Insurance Apps
  • Insurance Mobile App Features
  • Cost to Develop a Feature-Rich Insurance App
  • Why Choose Rishabh

Mobile App Development for Insurance Industry – A Necessity Rather Than a Choice

A mobile app eliminates the need to use traditional channels, where agents and brokers can reach out to target customers. Even business leaders acknowledge the need to integrate mobile application technology into their operations.

Insurance Application Development Benefits

Looking For An Insurance App Development Company?

Our team helps connect your app idea with a good business app using the right tools and technologies.

Types of Mobile Insurance Apps

An ideal insurance mobile app development solution covers the listed categories of apps that can be developed in the insurtech domain across the below-mentioned categories:

  1. Life Insurance
  2. Health insurance
  3. Vehicle Insurance
  4. Property Insurance
  5. Travel Insurance

Insurance Mobile App Features

Let’s look at the essential features of robust insurance mobile apps.

Customer Panel

Insurance Mobile App Customer Panel

It allows the customers to get an easy-to-use self-service interface with the below capabilities:

  • Manage Profile: Users can manage their data, including contact details, submitted claims, and more through this module.
  • Policy Management: It displays the digital version of the insurance details, past payments, and current/past policy documents. Besides, it allows policyholders to use the insurance mobile app features to search other available policies, get quotes and opt-in for policies that suit their budget and interest.
  • Premium Payment: With an integrated payment gateway, this module allows insurers to pay their premiums through available methods. Here, they can even set instructions for automated payments and reminders for the upcoming premium payments.
  • Claim Management: Customers can submit and track their claims on a real-time basis through this module. For instance, in cases such as an accident or a house robbery, they can quickly take a photo and upload it with the app’s required documents.
  • Help & Support: We enable the in-app calling feature and live chat support. It allows the customers to connect with service staff for their queries related to the policies, premiums, claims, and more.

Additionally, we implement other features, including advanced search, ID scanning, online signature capture, one-touch emergency help, service center locator and more.

Admin Panel

Insurance App Admin Panel

As an integrated component of insurance app development services, we offer a secure admin panel that provides a 360° view of your business through a live dashboard. Besides, it allows you to add & edit app functionalities.

  • Manage Users: Here, you can view, add, and manage the agent & customer profiles with corporate & personal details. Further, role-based access to users allows them to avail various features of the mobile insurance app.
  • Document Repository: The module allows upload, storage, and management of electronic versions of documents related to registration forms, policies, claim settlements, and more.
  • Policy & Claim Management: Admin users can set and customize policy information for individuals, enterprises, corporates, and groups. They can even manage policy workflows, keep a check on cancellation & renewals, policy laps processes, claim assessment & processing, and more.
  • Manage Payment: It will allow setting up commissions for agents/brokers, manage recurring billing for customers, and generate instant payment receipts. We even help implement various payment methodologies to enable payment through net banking, credit/debit cards, or mobile wallets by users.
  • Reporting: We integrate third-party systems such as CRM, ERP, and more in this module. It allows easy generation & download of custom reports related to company performance, the region-wise breakup of reporting, customer profiling, and more.

Besides, we implement other admin-side modules as part of our insurance mobile app development focus. It includes offers & notification management, alerts & push notifications, geolocation management, insurance telematics, appointment scheduling, and more.

Cost Analysis To Develop An Insurance App

There is no one-size-fits-all solution when it comes to app development. To estimate the budget of developing an insurance app, it is essential to understand elements such as features, demographics, complexity of the project, business size and more.
At Rishabh, we comprehend your business requirements to provide an optimal solution. Our development process follows a specific custom strategy and method by adopting a customer-centric approach. The insurance app development cost would heavily depend on:

  • Project aim
  • Types of features
  • Choice of development platform (iOS, Android, or both)
  • Number of hours invested
  • Project size
  • Type and no. of integrations

As a proficient mobile app development company, we can help you pick a cost-effective model that suits your needs.

Why Choose Us?

Our custom mobile app focuses on enabling the agents and brokers to streamline the insurance process workflow by helping them to:

  1. Engage in real-time for insurance policy and claim management to meet the customers’ expectations.
  2. Walkthrough the information related to new and revised insurance programs, policy rules and more with advanced analytics.
  3. Provide claim status update with quick assistance to the customers using their smartphones.
  4. Reduce paperwork to achieve better document management by speeding up the process for everyone.

Conclusion

Mobility will undoubtedly drive the future of the insurance business. We expect mobile devices to govern almost all financial transactions for this BFSI vertical.

As an experienced mobile app development company, Rishabh is your reliable partner to build custom mobile apps by covering the global insurance ecosystem. We even assist with enabling AI-based features in the insurance app such as chatbots, speech-to-text components, voice analyzers and more to drive higher app adoption rates.

Get A Feature-Rich Insurance App

Rishabh Software builds tailored web & mobile applications that accelerate the growth of an insurance business