Mobile applications are current industry standards for many sectors. From daily tasks to manufacturing management, they help us all the time. And even conservative industries like finance or insurance are actively adopting mobile technologies today. Hence, it’s a good idea to consider mobile app development to push your business.
In this guide, we will analyze the insurance product building process related to applications. Use this guide as a set of reference points, not rules carved in stone. And remember that all companies are unique, have different demands.
5 Reasons to Develop the Application
First things first, let’s think why one may want an insurance app. There are five prominent reasons, check them right here:
- To collect user data, process it, and improve the experience.
- To complete various simple tasks
- To free up the time of employees who have to use outdated channels.
- To make communication smoother and faster.
- To promote the business in other apps.
Apart from the mentioned reasons, there are less comprehensive advantages. They also can convince you to get an app for your insurance business. For example, mobile solutions eliminate queues, reduce paperwork, bring innovations like on-demand policies or flexible benefits. As a result, underwriters can improve sales and ROI through applications.
Types of Apps for Insurers
Like other software products, mobile apps are diverse. Different classifications feature many categories, but we want to focus on the main one – by functionality. Apps with different purposes will rely on different features, serve for the needs of different audiences.
In this case, the largest categories are as follows:
- Aggregator of offers. This type represents companies that collect insurance offers from different carriers. Users can compare them easily and choose the most suitable options. Thus, aggregator apps should be able to gather and represent data, provide comparison features, and have smooth integrations with other insurance services.
- Insurance provider’s native app. Unlike aggregators, native insurance applications are custom products tailored to the needs of only one carrier. Respectively, they should focus on offers from this business. Native apps also act as interaction channels for clients who can ask a question or file a claim using these digital tools.
Other classifications are essential, too. There are specific tools for health insurers that are different from property insurers. Apps may focus on life protection, vehicle policies, and so on. But each solution relies on a combination of basic and niche-specific features.
Features to Integrate
Knowing the reasons and types of insurance software solutions, a business can proceed to the development. During the planning stage, you should write down all the features you want to see in the application. Some of them will be the cornerstone; others will come as add-ons. The task here is to get a clear picture of functions, as well as the values these functions deliver. Overall, apps contain features for clients and employees. Let’s look at them.
For Users
This section includes features often presented in the client-side apps, both for aggregators and carriers. According to the name, these solutions are designed for users and should meet their needs. That’s why we mention the next features:
- This module is for quick and simple claims processing. Users should be able to add info, take photos immediately, and send the request using one screen. It’s especially important for unexpected events like robberies or car accidents.
- Apart from live uploads, an app should support file sharing. It’s much easier to add photos or medical records a few hours after using an app than look for other ways to deliver the necessary information.
- It’s the best practice for many mobile apps. Using notifications and reminders, you can send claims updates, discounts, info about deadlines, etc. People tend to forget things, so help them to remember key information.
- It’s another highly-desirable module. With a payment solution integrated into the application, clients can save much time. They don’t have to go to a bank or even open your site as all payments are already in the application.
- This large section includes several modules, for instance, active policy details, policy search, policy database. The idea is to provide a universal tool using which people can find available offers, get them, and get updates.
- It’s a core part of any client-side insurance application. User profiles contain personal information, active policies and benefits, claims with progress tracking. Property and medical info is available here, too.
- While this feature is useful for all companies, it’s the most essential one for aggregators. Quotes help customers to analyze available options and choose which one to order. Thus, don’t hesitate to develop quoting modules.
- Finally, a mobile app is the best channel for round-the-clock support. Be sure to add different contact methods like a live chat, email address, phone. You also can add a section with questions/answers and a chatbot.
For Insurers
On par with client apps, companies should develop agent-side tools. They act as internal administration solutions that facilitate interaction with clients and data processing. Surely, they have different features:
- If client profiles are key for client apps, this module is the basis of agent tools. It allows to oversight and manage user and employee profiles, check core data, initiate interactions or respond to requests, and so on.
- Often, insurance carriers work with other companies: hospitals, car dealerships, emergency services, private security, other agencies. For seamless cooperation, you should set reliable connections between apps.
- The history of interactions is crucial for any customer-oriented business. When data is under one roof and when employees can access it quickly, your clients become more satisfied with response rates and personalization.
As well, admin apps often have modules similar to client tools. Employees also should be able to check profiles, policies, quotes, and interaction history. Still, some info representation is broader (like with policies or quotes) while other parts are more limited (like sensitive details of clients that shouldn’t be available to third-parties).
Not a Panacea
As we stated in the introduction, this article isn’t a one-for-all guidebook. Here, we revealed a few basics and best practices related to insurance app development. However, the catch is that not all insurers require mobile applications. Like other digital tools, apps can facilitate various tasks and optimize processes. But you should clearly realize that this tool will work. Remember about business goals to be able to use applications effectively.
