“You will not turn bankrupt because of buying Insurance but you will cause your loved ones to turn bankrupt if you don’t”. Nicely said by Jack Ma, Founder of Alibaba Group.

If we think of the last decade, then we can say that the fact is mobile apps are no longer a luxury. And like other sectors, the insurance industry has also joined hands with technology.

Now, gradually customers are demanding mobile-first experiences that can help them give swift solutions without any hassles. Accordingly, embarking on a route of the app development process is the optimum solution to combat this demand for insurance offerings.

We know there might be a lot of confusion in your mind right now after knowing all this, ‘Why does my business need it?’, ‘What is the process of developing an app?’, etc. Here is your guide for learning everything about insurance mobile app development.

First, let’s understand the Insurtech market and the advantages of providing mobile Insurance app development solutions to the business.

Understand Insurance Market & Know The Benefits of Building An Insurance Mobile App

mobile insurance market size stats

As per the current Grade View Research data, the US mobile insurance market size is expected to expand at a CAGR of 51.6% in the US Market from 2023 to 2030. Besides, the app development for insurance companies will also help enable quick accessibility and communication between customers and insurers.

The tedious manual process you are working on right now will take you a step back with automation by the insurance app.

That can help your insurance company reach new heights in the evolving Insurtech market.

Advantages Of Building An Insurance Mobile App

The main advantage of developing such fantastic apps for insurance is that it will help get your business future-ready. Know the various perks of developing an app for the Insurance company:

  • Ease In Claims Processing

It is becoming a trouble-free process for mobile apps in insurance. The insurer gets to save time and can spend them on acquiring customers. The use of smartphones can also ease your customer’s and insurance agents’ access to your services through multiple features enabled in the app. And the claim amounts are accessible for the end-users to pay as they have payment gateway integration enabled for the users in the app.

  • Growth In Sales Efficiency

The insurance mobile app service lets insurance agents keep in touch with their offices without hassles. Also, due to the mobile app development, their work will continue whether they are traveling; they can provide their pitch to customers at any point in time from anywhere. And the sales can grow on automation through various CRM tools enabled in the insurance app.

  • Give Convenient Services

The biggest hassle in the financial frontline is sparing time for client visits. And the access could be for anything from background checks to personal form submission or any other client details update the insurance agent can do with some taps on their mobiles.

  • Ensure Better Customer Data

The insurance mobile app development can help take a bird’s eye view of data analytics. With the help of admin web panel access, you can manage customers and insurance agents in your comfort. And this reliable data can help the insurance company take on different decisions at frequent intervals.

  • Deals Closed During The First Appointment

Remember!! The insurance market is competitive, and upgrading with its evolution is the only solution to break through this competition. Besides, you can also help agents in need to catch up on the deals quickly, so this insurance app will help them find the perfect insurance price packages and also can help them calculate the claims. Mainly, it can close deals more quickly than the normal process.
After knowing the market and benefits of building insurance mobile apps, we are moving on to know the whole five-step Insurance app development process.

Willing to Give An Automation To Your Insurance Business?

Insurance Mobile App Development Process & Planning for Your Business

To develop insurance mobile application we have divided the entire development process into 5 stages. Though, as per the market, it is advisable first to make an MVP app and, after its success, to shift into a fully-fledged application. Mainly, this mantra can help you sustain for the long run in the Insurtech market and to touch new heights:
process of an insurance mobile app development

Step -1: App’s Purpose & Target Audience

In this stage, the app owners and development team should work simultaneously for booming mobile app development in business. Here in the app’s purpose, the app owners will help give an understanding to the development team about the app’s purpose.

Through this detailed information, your development team can help create the blueprint of the overall development and outline the significant features that can be integrated into this app for insurance.

This project plan is mainly to ensure that the development team has informed choices and can help develop the path of insurance app development that resonates with the brand’s image.

Step – 2: Designing A User-Friendly Interface

It is one of the crucial steps that will give an understanding of the app’s final outlook. Getting associated with the latest mobile app design trends is essential to improve the design process. The start will always be by designing a prototype to help adjust the end-user flows.

The prototype will help guide the overall development process for the development team and app owners. You can pitch the same to your investors too. At this stage, you can expect the outcomes like a wireframe, app screens, clickable working app design, and the overall design file.

Step -3: Techstack Can Be Used For Insurance App Development

The mobile app development process that can be chosen by the dedicated Insurance app development company mainly depends on the availability of underlying platforms. It is mainly determined to help select libraries, languages, frameworks, development toolkits, and various programming methods for building a robust Insurance app.

We have mentioned Techstack required for scalable Insurance mobile app development for your business.

Tech Stack Technology Used
Mobile App Development Kotlin, Swift, and React Native
Backend Node.Js, Express.Js & Laravel
Database MySql, MongoDB, and Redis
Hosting AWS, OVH
Server NGiNX
Payment Gateway Stripe, PayPal
Multi-factor Authentication Twilio, AWS EC2

These are some of the prominent technologies though there are other technologies available which you can choose as per your Insurance app development requirements.

Step – 4: Insurance App Development & Quality Analysis

In this stage, the design will be transformed into a fully-functional app. Mainly this process will include the frontend and backend development. The project manager is highly recommended for timely meeting the deadlines and overseeing all the ongoing operations.

After the Backend and Frontend development, the QAs will take on the series of tests that will ensure the stability and security of the Insurance app development.

Step – 5: Insurance Mobile App Deployment & Maintenance

The last stage of app building is where the app is ready for the end-users and is deployed on the Apple App Store and Google Play Store. Ensure that after the Insurance mobile app is launched for use, you consider the end-users feedback and provide rapid improvements.

Mainly, to enhance your product, you can address the customer feedback that can help maintain your product at frequent intervals.

Now, the question that might arise is the cost of developing such an app with vivid functionality in your insurance company.

Ready to revolutionize your insurance company?
Get a free consultation and discover the cost-effective solution from our experts for your business!

What is the Cost of Creating an Insurance App For Your Business?

As we can see, there is no size fit for app development. For estimating the budget, it is crucial to understand various elements such as features, demographics, project complexity, and much more.

Our Insurance app development services provider company is standing by, keeping all your business requirements in mind and then providing the best solution for your business. Besides, the development process mainly follows a specific strategy by adopting a different customer-centric approach.

The cost is prominently dependent on various factors like:

  • Main Aim of the Project
  • Features That Are Included
  • App Development Platform(Android, iOS, or Both)
  • Project Size
  • Types of Integration Required In the App

Here, we will help you with the estimated Insurance app development cost for creating an Insurance app.
MVP App – $15K to $25K
Fully-Functional App – $35K to $70K

Note: The figures are mere estimates and might change subject to your requirements. Get a free quote from the business analyst team today to learn more!

After the cost, let’s dive deep to know the various trendy features that you can add in your Insurance mobile app.

Prime Features To Know Prior Insurance Mobile App Development

Firstly, as per the types, decide in which kind of market you want to build the insurance app, and on that basis, here is an extensive feature list for MVP and prime features you can get in your insurance mobile app:

Know The Insurance Mobile App Features

MVP App Features

  • Push Notifications
  • History
  • Geolocation
  • Integrated Chat
  • Online Registration Form
  • In-app Payment system
  • Access to ID cards and policies
  • Document Management
  • Claims Filing

Advanced Features of The Fully-Fledged Insurance App

  • Unique User Profiles
  • Virtual Account Assistance
  • Multilingual Assistance
  • Third-Party App Integration
  • e-prescriptions
  • Telematics
  • Video Conferencing
  • Human-Aided Customer Support.

Multiple Types of Insurance Mobile App

Various types of Insurance mobile apps are available in the market, but you must make the app as per your niche market. Here, we will understand them with the top ruling app mentioned in the specific type:

  • Life Insurance

Life insurance app development can help in giving quick access to customers and streamline many day-to-day activities for insurance companies. Hence, there are many advantages to developing a life insurance app for your business:

✔️Choosing the correct insurance company policies as per the requirements
✔️Instant notifications
✔️Rate of interest calculation
✔️24*7 support to the customers.

Top 3 Life Insurance Apps

  1. Ladder Life
  2. Haven Life
  3. Erie
  • Vehicle Insurance

These insurance apps are mainly digital saviors for end-users who have met with accidents and want to claim assets. Auto insurance, car insurance, and any other vehicle insurance coverage are offered through these types. And the main advantages you can provide to your end-users by creating a vehicle insurance app are

✔️Upload pictures of the site In Real-time
✔️Asset Filing Claims on the spot
✔️Get repair estimates in no-time
✔️Access documents of clients with ease

Top 3 Vehicle Insurance Apps

  1. State Farm
  2. Geico
  3. Progressive
  • Property Insurance

Mainly, the property type will help provide a seamless insurance mobile app development that can help ensure the property, jewelry, artwork, real estate, etc. The app is capable of delivering these benefits to the end users:

✔️Claim on-point
✔️Regular Reminders On Maintenance
✔️Property Tracking for Damages

Top 3 Property Insurance Apps

  1. Clubb
  2. Farmers
  3. NGM
  • Health Insurance

This kind of Insurance is indeed everyone’s need right now. That is the reason there are pile of advantages of health Insurance app development:

✔️Insurance across the various disciplines
✔️Choose the preferred doctors
✔️Book appointments in real-time
✔️Compare the claim prices of the multiple pharmacies
✔️Search Appropriate health plans

Top 3 Health Insurance Apps

  1. Oscar Health
  2. myCigna
  3. Religare Health
  • Travel Insurance

This app development mainly allows the organization to offer a range of services to the users base that can enable them to achieve different benefits:

✔️Minimize the risk of emergencies
✔️Aids unforeseen Medical expenses
✔️Claim against the luggage loss instantly
✔️Instant cross-border access on emergencies

Top 3 Travel Insurance Apps

  1. Trip Insurance
  2. Freely
  3. Wapp
  • Business Insurance

It safeguards the multiple business investments for the end-users. Here are some of the advantages of business insurance for entrepreneurs of the business:

✔️Business size & nature of the risk
✔️Get instant claims on the loss
✔️Minimize the loss by settling an insured event

Top 3 Business Insurance Apps

  1. Thimble Insurance
  2. Next Insurance
  3. Coterie Insurance

After knowing the different types of Insurance mobile apps it’s time to know the prime features that should be kept in mind while developing the insurance agency software.

With Excellent WebWorld Take a Step ahead By Insurance Mobile App Development..

The most prominent thing in insurance app development is to join hands with a trustworthy and best fintech app development company.

The team at Excellent Webworld is always there to solve queries and can help you turn your automation vision of an insurance app into reality. We have an experienced team of developers to help you create apps for insurance.

Moreover, if you hire Insurance mobile app developers of our company then you can get a guaranteed business scalability with expertise in designing, testing, and deployment. We have years of experience in providing our clients with the best mobile app development solution.

Get In Touch With Us!
For your Insurance app development requirements. We are always pleased to be a part of your business growth.

FAQs

The overall app development for Android or iOS mainly depends on the size of the insurance mobile app:

  • Small or MVP App – 3 to 6 months
  • Moderately Complex App – 6 to 8 months
  • Highly Complex App – Over 9 months

The success of the Insurance mobile app development can become sky-high if you join hands with the right app development company. From the app idea to its execution, everything depends on the app development company’s experience. And an app development company like ours is the perfect match for you.

If you are currently planning to create an Insurance mobile app, then here are the steps mentioned:

  • Choose The type as per your niche market
  • Select the features and develop an MVP insurance app
  • Know the ongoing market trends to enhance your solution
  • Develop a Marketing plan and choose the way to attract the users

And this is how you can do insurance app development for your business.

The four main types of Insurance apps prevailing in the Insurtech market right now:

  • Life Insurance Apps
  • Travel Insurance Apps
  • Car Insurance Apps
  • Property Insurance Apps
Mahil Jasani
Mahil Jasani

About the Author

Meet the web tech lover and COO of Excellent Webworld. Mahil is an expert in drupal web development. He's the complete package skilled in design, development, and deployment of exceptional websites. His blogs are helping lots of start-ups to understand how to improve website performance and how to enhance web designs.