Avail the benefits of Insurance App Development

By Harsh Kundariya Mobile April 25, 2019 12 min read 444 Views

Mobile Applications are flooding in the market. Every day, a unique idea converts into a virtual platform. In the world of a mobile app, there is a lot one can do with it. One such area is Insurance App Development.

Let’s have a look at the statistics of the mobile applications that are flooding in the market.

According to reports, there are millions of apps available for downloads in the play store as well as the app stores. The reports present that in 2019, over 2M apps are available on the play store, and around 1.83M are on the App store.

Also, below is the list of app download worldwide:

  • In 2017, 178.1bn apps downloads.
  • 143.7bn mobile apps downloads in 2016.
  • The hike in a revenue generation shows how much people trust in mobile applications.

The technology has taken over the world by providing them everything at a single click. This has made people dependent on the internet, and that has made billions of dollars for app owners.

Insurance is also a good option to invest in, and this sector is ubiquitous. Customers are always in search of an easier and time-saving option.

An Insurance application can become an integral part of the customer’s life. It can execute the tasks, register themselves, processing claims, etc.

1. The Need for Insurance App Development

Uncover some secrets that a user can avail of by Insurance App Development. By building it from a top mobile app development company from India.

One can create an app that delivers all the services that a user seeks at the insurance company. Yet, lack of manpower and time constraint, they could not provide the service.

Below are a few benefits that a user can avail from Insurance App Development:  

Benefits Of Insurance App

1.1 Prompt Pricing

It is difficult to understand the policy in detail. Also, it is difficult to avail of pricing for the policy. But, what if these things are available at fingertips? Wouldn’t be it time and cost-saving, if everything with a single click could be possible on your handy device.

The app consists of a feature that displays pricing if a customer pays attention to it. The user can see the pricing structure from the app itself. They can review the policy and also can check for the premiums.

1.2 Quality Services

Hiring an insurance agent for availing services could be time-consuming and costly too. Instead, an app can do all these things in minimal time and provide detailed information to its user.

An app owner decides to Make An Application for delivering quality services. The services include types of insurance, maturity period, monthly premiums, coverage, etc.

To avail of these services, the user has to install the application and register as a member.

1.3 Quick Interaction

Applicants and agents can connect from any point in the world. Also, the agents can provide effective resolution to any problems. There is no need for meeting agents when the work is done with a single click.

The interaction becomes smoother and two-way once the connection between parties is established.

1.4 Simplifying Claims

One of the biggest advantages is that a user can claim from the application. Claiming from the app makes the process hassle-free. Also, it reduces certain risks of the applicant.

At the time of the accident, the user can click photos and upload them to the inventory management system. It will help the user to claim the amount against the goods stolen.

1.5 Enhancing Knowledge of Insurance Agents

The  application can enhance the user agents’ knowledge which is as follows:

  • Uploading materials on the application
  • Uploading videos or tutorial on the application
  • Users can watch videos or go through the material in their free time.

1.6 Telematics For Usage-Based Insurance (UBI)

Telematics is receiving or sending the information over a network. It is a combination of telecommunication and informatics. This helps them to understand the pattern of driving via a sensor installed in a vehicle.

Insurance App Development benefits a lot to the one who perfectly drives his/her vehicle. The applicant can earn discounts, perks, low premiums on driving safely, and risk-free.

The rewards become a motivation for the drivers to drive their vehicles safely. This way, both the insurance provider and applicant are in benefits.

1.7 Enhance Sales Effort

The Insurance App Development helps the agent to connect with the office premises. It helps the agent to work when they are off duty or out of station so that they can be in regular touch with their clients. Furthermore, they have quick access to sales force automation, CRM tools and many more.

1.8 Generate Quick Quotes

Agents can generate quick quotes for their clients by using the services of Insurance App Development. Also, they can generate quotes while interacting with their clients.

2. Types of Insurance Apps

 There are several types of insurance which are as follows:

2.1 Claim settlement Apps

There is a separate app for claim settlement that has different functionalities other than normal insurance applications. Below are the characteristics of Claim settlements applications:

Library for Documents:

In case of an emergency, a user can access the information that is stored in the library. Also, the app may allow the user to upload their document which contains:

Claim Information:

It includes important information that is vital while claiming insurance.

Photo uploading feature:

This feature clicks the picture and uploads it to the application.

Communication with the customer:

The chat option allows users to communicate with other handlers in the application.

Digital Signature:

The digital signature replaces the manual processing. Also, it saves a lot of time, printing and paperwork.

2.2 Sales management Apps

Sales maintenance apps are one which has overall information about the sales records, client data, leads information, etc.

The Insurance App Development for sales may include the following things:

Document library

All the sales and marketing documents are stored in one place, and brokers can check it anytime.

Tracking

Brokers can track the information of their potential clients. The data is topical so that the brokers could trust the data and use it for their information.

News Feed

The news feed will help the broker to understand the trending topic in the market. This will, in turn, help them how to deal in the market.

2.3 Health insurance Apps

Health insurance apps have multiple benefits that a user can avail from them. These benefits are as follows:

  • Instant Policy Renewal
  • Tracking claims
  • Fetching details for a new policy
  • Finding a nearby Insurance policy
  • Quick product quotes
  • Numbers available to reach out customer care
  • Category wise insurance listing
  • Payment options are also displayed

The health insurance application is a beneficial app for users across the globe. It is helpful as they have their handy devices and don’t need to visit the office. It is widespread and has a large area of scope.

Furthermore, the application has other benefits that can be helpful to the user such as:

  • Health Cost Estimator
  • Comparision different medicine prices over the app
  • Check for refill or renewal status of the prescription
  • Access to different organizations such as PPOs, HMOs, and POS.

Read also: Top 10 Mobile App Development Strategies That Can Propel Your Business

3. Unique Features of Insurance App Development

 Mobile insurance application has plenty of attractive features that can enhance the UI and UX. Those features are as follows:

Unique Features Of Insurance App

3.1 Push Notification

The push notification is a significant feature that engages the user in the application. It retains the user by popping up on the mobile screen with updates and news. The benefit of the push notification is that it increases conversion rates.

The push notification can help in targetting the right customer and send the notification about the apps. Also, with regular updates, there are high chances of an increase in brand enhancement. Furthermore, by updating user-relevant content to the application, it helps in uplifting user retention ratio.

3.2 History

The application consists of information, and recording that is vital as that decides the amount of insurance a person can acquire. The product at the end turns out to be the most trustworthy and that is the reason other users can realize.

3.3 Geolocation

Geolocation helps users to detect the location of the office. Also, you can know the client’s development in such kinds of an array of application that includes travel insurance, accident coverage apps, etc.

3.4 Quick Registration

The registration should be quick and smooth. The client should not wait for a longer duration to fill the form. If you want to discover how to develop such forms, you can simply hire our dedicated developers, and unleash your dream to build the much-awaited Best Mobile Insurance Apps.

3.5 In-App Payment System

In-App payment can be beneficial for the individuals as they might forget to pay premiums. It helps the user to not pay the premium regularly and doesn’t let the user fall into the risk of losing the policy.

Nowadays PWAs have come into the market and one of the main reasons behind it is Escalation Of Customer Experience.

4. USP Of Insurance App Development

USP Of Insurance App

4.1 Helps in Selecting Plans

 Selecting the insurance plans is a time-consuming task as it requires detail research. The research includes:

  • Gathering information for a particular insurance
  • Premiums
  • Choosing an effective insurance policy
  • Duration of policy
  • Advantages of selected insurance policy

The above information takes time and selection. You should make an app in such a way that it answers all the questions from the app. The individual has to not go anywhere else and can find plenty of information from the application.

4.2 Purchase & Renewal of Policy

Any user who wishes to either purchase or renew policy has to visit the insurance office, stand in queue and waste their important time.

On the other hand, an insurance application should compile all the information and make the user’s life easy and time-efficient.

4.3 Searching For Doctors & Hospital

Searching for doctors is also a time-consuming task as it involves proper research. The application consists of a list of doctors who are providing their services in the area.

The application has several features that help a user to search the doctors:

Search For Nearby Doctors:

The application consists of a list of doctors who provide their services in a particular area.

The integration of such features requires APIs in healthcare, and with the help of integration, this feature can be integrated in the application.

Search For Doctors By Speciality or Name:

The list of doctor’s The doctors’ list should be compiled and added to the application. Also, the user who is in search of a specialized doctor can search for the doctor through the application by filtering it.

Note: The user should not face difficulty while finding the right doctor for them. The application should have a filter option so that the user can apply and select their choice of doctor. 

4.4 Search For Drugs

Most of the insurance companies cover drugs and prescriptions. To enable such a feature in the application, you should partner with the pharmacy company.

The drugs available with the pharmacy are searchable and one can check the drugs and usage from it. The database and information are mandatory to establish this facility.

4.5 Doctor-Patient Communication

The health insurance company application has a facility for appointment booking, and that becomes a deciding factor for the patient to do it.

When the patient wants to book, they have to visit the hospital and then have to wait, which in turn becomes wastage of time. But, what if everything is done at a single click. It saves a lot of time for the user that becomes effective and enhancing service.

4.6 Symptom Checker

Symptom checker is an outstanding and competitive feature that makes your app stands out different from others.

In case, if a user is not able to call, chat or visit a doctor, the app will have a chatbot or questionnaire. It will help the chatbot in understanding the problem. After this, the chatbot will provide medication to the user. 

4.7 Reminder

The application option helps the user in several ways such as:

  • Visiting doctor
  • Processing Claims
  • Policy Expiration Date

It helps the user to not forget about the important event that they should not miss.

4.8 Support Team

A support channel will be an advantage for the users of the application. Nowadays, people don’t like to waste their time and they quickly find the alternative.

If you provide a support channel to the user, they will likely be attached to the application.

The support channel is a separate team that provides a list of doctors to the users. Also, they will help in consulting different insurance policy, it’s pros and cons, etc.

5. Cost to Develop an Insurance App

The question has always been, How Much Does It Cost To Make An App? Let’s search for the answer. Building a Mobile could cost you around $15 to $50 per hour across the globe. It differs from country to country. An average complex app will cost you around  $65K to $70K.

The cost depends on several factors such as:

  • Complexity
  • features
  • demand
  • region of development.

The region becomes an important factor in deciding the budget because that takes a lot of costs. The price of developer per hour to build the application differs from region to region.

Conclusion

Mobile Application is trending in today’s world. Anything which serves the client’s needs will be acceptable in the market. And, an application that does the major part of the work with a single click will be highly preferable.

Insurance Mobile App comes with plenty of benefits a user can avail and therefore, it can save a lot of time and energy. Developing an insurance application can provide you ample information from your device.

An application that serves the client’s needs will be a good option. Along with the user, it helps in generating revenue for the app owner.

Disclaimer: We at eSparkBiz Technologies have created this blog with all the consideration and utmost care. We always strive for excellence in each of our blog posts and for that purpose, we ensure that all the information written in the blog is complete, correct, comprehensible, accurate and up-to-date. However, we can’t always guarantee that the information written in the blog correct, accurate or up-to-date. Therefore, we always advise our valuable readers not to take any kind of decisions based on the information as well as the views shared by our authors. The readers should always conduct an in-depth research before making the final decision. In addition to these, all the logos, 3rd part trademarks and screenshots of websites & mobile apps are the property of the individual owners. We’re not associated with any of them.

Harsh Kundariya

Harsh Kundariya

Passionate about everything happening in the field of Enterprise Mobility. The Co-Founder of eSparkBiz @Mobile App Development Company where you can Hire Mobile App Developers.Interested in exploring various aspects related to Mobile Apps. Curious about knowing each everything that happens in the world of app development. It has landed him to be among the top-notch Entrepreneurs with 6+ experience in India and USA. Penning down his knowledge in the domain of mobile.

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