They’re a great group of developers who really understand the reality of business.
Insurance Software Development
Eliminate legacy insurance software, automate manual operations, reduce human errors, improve customers’ experience and as a result get more clients, reduced costs on operations and increased revenue.
Insurance industry is changing at a fast pace due to customers’ demands, new technologies, enhanced connectivity and interoperability, increased digitization and usage of wearables. Innovations and technologies adoption gives lower operational costs, brings new customers faster and boosts clients’ flow. Growing competition drives insurance business to insurance software developers who put them back on track, stay ahead of competitors and generate impressive revenue.
Insurance Software Solutions We Develop
Claims Management Software
Build a custom claims management system that meets your business needs and ACORD insurance standards: manage the entire claims lifecycle, including data collection and database building, authentication, carrier submission, etc. As an insurance application development company we can implement any integrations and industry specific features.
- Reduce fraudulent claims
- Improve claims processing efficiency
- Cut claims management cost
- Better customer experience
Policy Management System
Develop a policy management system with multitasking flows. The system will ensure all the coverages are timely renewed. All necessary features as accurate quoting, creating policies, binding, etc. will be added according to the client’s needs. Automated process of managing insurance contracts increases efficiency and decreases the cost of processing.
- Simplify policy administration
- Enhance efficiency with automating policy management
- Empower your system with better compliance
- Improve cost-effectiveness
Underwriting or Quoting Software
Create a custom software with numerous underwriting algorithms for high-quality risk assessment based on your requirements. The custom-made quoting software is easily integrated with ISO or others according to the insurers’ needs and specific policy types to make the underwriting process as simple as possible.
- Better tracking and improve workflow
- Use underwriting resources effectively
- Enhance visibility and service
- Increase consistent decisions
- Reduce paper work
Risk Management Software (RMS)
Get tailored to the specific business needs ERM software that tracks key risk indicators for insurance agencies. We can build a risk management software with an automated real-time monitoring and data analysis with automated alerting for rapid decision-making. Any features could be added based on the business operations – build-in custom risk libraries, multiple criteria templates, mitigation protocols, etc.
- Identify and classify risks
- Take actions to minimize risks
- Get automated risk reports
- Save time and money
Fraud Analysis Software
Detecting and preventing fraud is a real challenge and very often a problem for insurers. Build your own fraud analysis software for detecting, preventing and managing claims fraud. With the latest technologies applied we’ll improve insurance fraud detection and investigation. Don’t pay for fraudulent claims.
- Monitor every transaction and claim
- Get alerts for the claims that need further investigation
- Stop complex fraud schemes with AI & ML
- Screen and score vendors to ensure compliance
- Reduce the losses and exposure
Omnichannel CRM for Agents & Brokers
An omnichannel CRM helps insurance businesses organize prospects, track opportunities, and automate activities, so agents and brokers can focus on improving customer experience. Itexus team can develop a custom CRM from scratch or customize the one you use. Any features could be implemented:
- Optimized workflow
- Smart alerts & chat
- Events tracking
- AI assistant
- Claim auto-tracking
- Task delegation
- Process automation
One-stop Support App for Policyholders
Let your support team get any critical information and deliver high-quality service quickly and easily. With our insurance mobile app development services you’ll increase customer engagement and loyalty by allowing policyholders to reach you through a mobile customer support app retaining the interaction across different channels.
- Video chat
- Text chatbot
- Context driven communication tools
- Alert analytics
- Emergency tools
- Push notifications
- News feed
Billing & Payments Solutions for Insurance
Simplify payment processing with billing & payment services integrated into the Insurance ecosystem. Win the customers’ loyalty, reduce reliance on paper and checks, save money along the way. Our insurance software company will build the billing and payment solutions from scratch based on your company’s specifics or our team will integrate and customize an off-the-shelf solution.
- Prepare customized and branded bills
- Present printed and digital bills to policyholders
- Give policyholders the choice to pay in different ways
- Reduce regulatory compliance and security risk
Document Management Software (DMS)
Unify document management with Itexus software development team. We can customize document capture software and policy forms and connect it to cloud-based DMS (Document Management Systems). With custom logic in multiple search capabilities it will be easy to manage the databases of policyholders, contracts, policies, licenses, etc.
- Streamline insurance paperwork processes
- Improve insurance regulatory compliance
- Enhance documentation security
- Enable remote working
- Distribute workforce enablement
Insurance Marketplaces & Aggregators
Build a digital Insurance marketplace that connects insurance brokers, insurance companies and the end customers. One of the well-known types is Health insurance marketplace where people without health insurance can purchase one that complies with the Affordable Care Act (ACA, US). Itexus develops custom Insurance marketplaces for global and local markets.
- Advanced filtering options
- Comparison of the chosen insurers
- Built-in online payments
- AI-based recommendation engine
- Online consultations
P2P Insurance Solutions
Develop P2P Insurance platforms where a group of individuals pool their resources together to insure against a risk. P2P insurance model is a transparent, high-tech and low-cost alternative to traditional insurance. Cover your customers’ needs with our insurance software development company.
- Speed up the quoting process
- Make the covering process transparent
- Ease the claims management
- Take advantage of all-digitized processes
Insurance Software Development Services We Offer
Consulting on digitization & insurance automation
Insurance software development from scratch
Legacy systems modernization & data migration
Customization and enhancement of the existing insurance platform
Integration with third-party software
Go-mobile consulting & app development
Better your Business with Itexus
Go Digital
- Attract more customers
- Get new sources of data and analytic tools
- Streamline the sales process
- Engage with policyholders more often
- Modernize insurer operations
Automate operations
- Accelerate underwriting process
- Speed up customer service
- Cut operational costs
- Benefit from robo advisory capabilities
- Manage data easily
Go Mobile
- Allow customers to start/pause/stop coverage on their mobile apps
- Provide pay-as-you-go insurance
- Enhance customer experience
- Unleash the power of connectivity & wearables
- Multiply upselling and cross-selling deals
Move to Cloud
- Easily operate and access great amount of data
- Stay secure
- Scale your business
- Reduce operating and capital investment costs
- Increase agility
FAQ on Insurance Software Development
How much does it cost to develop insurance software?
The cost of insurance software development depends on the number of features required, integrations, overall complexity of the solution, etc. For the time and efforts estimation, please contact our team. By the way, you can get some approximate numbers in our blog post.
Can you guarantee data security in my insurance software?
Following international data security and protection protocols, we develop high-quality and secure applications that are equipped with an extra layer of security to protect user data and eliminate any vulnerabilities.
What is your insurance app development process?
We follow a comprehensive yet flexible process for developing insurance applications. First, our business analyst explores your vision and needs, define your goals, and clarify your requirements. Then, we prepare an estimate and send it to you. After you approve the budget and timeline, we can proceed with the development stage.
We define the project scope and create a high-level delivery schedule. Then our UI/UX specialists design an intuitive and visually appealing user interface. After that, Itexus’ skillful developers deliver your insurance application using an iterative approach (with 2-4 week iterations) and integrate your app with required third-party services. Your project manager will keep you regularly updated on the progress.
Before any major release of your app, our QA engineers perform all the necessary tests. Afterwards, the project team releases the application and submits it to the app stores, if required.
We define the project scope and create a high-level delivery schedule. Then our UI/UX specialists design an intuitive and visually appealing user interface. After that, Itexus’ skillful developers deliver your insurance application using an iterative approach (with 2-4 week iterations) and integrate your app with required third-party services. Your project manager will keep you regularly updated on the progress.
Before any major release of your app, our QA engineers perform all the necessary tests. Afterwards, the project team releases the application and submits it to the app stores, if required.
Do you provide post-development support?
Yes, we offer post-production support on a regular basis or on demand.
Can you integrate a third-party service with my solution?
Sure thing! We work with world-class service providers and integrate third-party APIs and services according to your business goals. Sometimes it can save the budget and speed up the go-to-market.
Do you sign NDA?
For Sure. We can either sign your agreement or ours.
I have a rough idea of insurance software. What should I start with?
To give your project a good start and get the solution to market on time and on budget, we recommend starting with the discovery phase. If you already have requirements specification documents, we can proceed to the development stage.
We’ve already started with another development team, but we would like to change the team. Can you catch our project?
Sure thing! Our specialists will ensure a seamless and painless transition and deliver your insurance solution with maximum speed, quality, and agility.
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