The safety need is one of the basic human needs. In Maslow’s hierarchy, it ranks second after physiological needs. People want to feel protected, so it is not surprising that insurance becomes an integral part of a civilized society.

Today’s users are accustomed to quickly gain access to the information they are interested in. A variety of studies show that more and more people go online using smartphones. That is why insurance app development is eagerly sought.

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1. What Users Seek In The Insurance App

No matter how wonderful your product is, it is completely useless if it does not benefit. So, before you start developing make it clear who and what you develop for. Here are a few reasons why users would want to download your application.

 

Custom solutions

Each person has different needs, opportunities, circumstances, etc. In accordance with them, he or she wants to obtain an accurate information as soon as possible. The traditional insurance process cannot meet these needs. Yet, the app takes priority. Remembering the choice of the user and taking into account his or her personal data, it gives exactly the information that will be useful to him or her.

 

Precise pricing

Often, insurance companies do not provide comprehensive information about a particular package of services in their apps. This can be really annoying and frustrating. Make your app simple and effective. Show the user what and at what price he or she can buy. Display a certain amount to pay when he or she pays attention to specific offers.

 

Service quality

Insurance agents spend a lot of time in order to maintain their knowledge at the proper level and provide quality support. The insurance application can serve them well here. With its help, they can learn anytime anywhere and be always up to date on the insurance world trends.

 

Rapid Interaction

With the help of the application, customers and insurance agents can easily connect and solve issues of interest. Applying for a particular service can be made within a few minutes directly from the phone.

 

2. Benefits Of Mobile Apps For Insurance Business

Mobile apps are able to improve any business performance and insurance business isn’t an exception. Getting yourself an app, you’ll experience the following benefits.

  • Fast processing of claims. The time spent on offline claims processing can be used wiser: for new customers acquisition or retain. Insurance claims can be applied through a mobile app, it’s much faster and easier. All users have to do is take a photo of documents and accident evidence, and in some time get a due payment through a mobile app as well.
  • Insurance telematics. It is possible to reduce the cost of an insurance policy for an individual driver. In other words, this is a special monitoring system, the main function of which is to track the driving characteristics of a particular person. This technology makes driving safer since drivers know that they are under control. It is a beneficial option for car insurance applications.
  • Sales efficiency growth since insurance agents can get access to sales automation tools and CRM tools that increase clients’ management efficiency anytime from anywhere.
  • Prompt deal concluding. In case a customer wants to buy an insurance policy through the insurance app, agents can sign documents in digital form directly on the mobile device and make the payment via the integrated payment system.

 

3. What Types Of Mobile Insurance Apps Exist

Insurance applications differ depending on the purpose of use. Next, we will review the main types and give general recommendations on what to consider when developing them.

 

Claim settlement apps

Having the opportunity to process customers claims without being tied to office hours is an excellent opportunity for claims handlers. This saves their time, increases the efficiency of work and the number of satisfied customers.

Considering the requirements of users the claim settlement apps usually include the following:

 

Documentation library

Claims handlers should have an easy access to all documents that are logically systematized in the application. Clients should be able to lodge a complaint using the application.

 

Claims details

The app should contain meaningful data on each claim such as date, reason, applicant, etc.

 

Ability to upload photos

This option allows to take pictures and instantly upload them to the application.

 

Communication channel

In-app chat keeps in touch handlers and customers 24/7 and contributes to the timely handling of issues.

 

Digital signing

The ability to sign a document directly from a tablet or phone saves a lot of time and spares nerves since the red tape with papers reduces to zero.

 

Sales management apps

The purpose of such apps is to establish a monitoring system, increase sales efficiency, and systematize access to marketing materials. They help brokers quickly assess the situation regarding existing and potential customers.

 

Sales management apps usually include the following:

Documentation library

The brokers should easily access all the materials regarding sell programmes, promotions, marketing plans, etc.

 

Tracking

The app may contain personalized accounts for each client. The custom-tailored approach will help brokers respond to any changes in time and be sure of the reliability of the data.

 

Newsfeed

For brokers, it is critical to be aware of the latest news about the economic situation in the world and regions. It helps build the right strategy for interaction with customers.

 

Travel insurance apps

Such applications provide the user with all necessary information on insurance in the country of destination.

The functionality of the application should allow to quickly get any type of insurance if the client decides to participate in activities that are not covered by the standard insurance plan.

The additional services may include weather forecast, departure board, built-in maps, etc. The purpose of the app is to make the client feel protected when going on a trip.

 

Car insurance apps

Such applications can become personal assistants to the drivers since one of the main functions is to control the manner of driving.

The app can warn of the overspeeding, point to dangerous sections of the road, report traffic jams, etc. It takes care of safety and prevents possible accidents.

For agents, the application is a goldmine. They actually get the chance to select the most reliable, and therefore profitable customers. They can offer clients the most favorable terms of cooperation with various discounts, premium plans, and other promotional offers.

Thus, the application promotes beneficial bilateral cooperation.

 

4. What Is MVP For The Insurance App

Creating a right MVP model is a good way to start a successful project. The insurance application is not an exception. Let’s look at the basic functions that must be present in your app.

 

Push notifications

With their help, you can keep users informed about the latest updates, changes, discounts, etc. But do not be too tiresome and remember to implement the ability to disable pushes.

 

History

Introduce your team to users and tell the story of the creation of your company. This will help to earn the trust of customers.

 

Geolocation

You can provide customers with information, given their place of stay. For example, you can notify the customer what kind of insurance he or she can apply when entering a certain country.

For travel and car applications, this option is vital. For users of claim settlement and sales management apps, it will be a pleasant bonus.

 

Online Chat

A convenient way of communication that allows customers and agents to be in touch 24 hours a day.

 

Registration form

This option will significantly save your clients’ time as it will allow them to register an insurance contract and a digital signature without coming to the office.

 

In-app payment system

It is very convenient to purchase insurance products right off the bat. You should have no difficulty in implementing this feature. The main thing is to choose payment gateway for mobile apps and integrate it using specially designed APIs.

The insurance industry is much in demand all over the world. Like any other sphere of human activity, it develops in tune with the times.

Current-day users are no longer satisfied with frequent trips to the office and waiting in lines. They want to solve their problems quickly and effectively.

Here, mobile applications come to the rescue. They speed up the processing of information and improve the quality of provided services. If you decide to create an insurance application, start with choosing its type, think of vital features, and decide how it’s going to differ from similar apps.

 

Conclusion

All in all, insurance business is a field that can become very beneficial for both customers and businesses. All the listed above is a progressive proof of insurance app profit. You just need some time to define what exactly you need and turn to experienced software service providers.

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Nataliia Kharchenko

Nataliia Kharchenko is a Technical Writer at Cleveroad. It is web and mobile app development company in Ukraine. We are focused on helping startups, small, and medium businesses create competitive and winning software. I enjoy bringing a digital world closer to people and writing about technology, mobile apps, innovations, and progressive management models.