Must-Have Features of InsureTech Apps to Induce Robust Insurance Outcomes

Discover how InsurTech apps enhance insurance operations with features like claims filing, customer support, and policy management for business growth.
InsureTech Apps to Induce Robust Insurance Outcomes for Insurance Agents | Binmile

The term Insurtech is made of insurance and technology. Insurtech refers to a bunch of digital innovations with ranges like customer platforms, booking tools, big data analysis, or intricate internet of things (IoT) systems. It means the insurance industry uses advanced technologies to progress efficiently and assess risk accurately. InsureTech apps open the gate of opportunities for insurance companies and agents that deal with millions of customers online. Basically, insurance agents need a mobile insurance application to automate claims processing, offer on-demand insurance services, optimize support costs, and promote self-service among customers. Stay updated on insurance app development trends to explore the latest innovations transforming the industry

The Growing Utility of the InsureTech App

According to the finding of a 2020 report on the usage of insuretech apps by insurance agents in India, about 63 percent of Indian insurance agents used a platform or insurtech app to contact their customers. More than half of the agents managed insurance renewals online. Moreover, around 15 percent of agents preferred an app for offering and receiving insurance policy-related training virtually.

The insurer, 3rd party agents, and end-users are three components associated with the insurance business. Insurance is powered by insurance agents who play a communication link between the insurance companies and people. When you go for insurance services, mobile apps offer real-time B2C interactions. The insurance company needs a mobile app for the following reasons. These include:

  • Establishing customer contacts
  • Facilitating convenient services
  • Increasing user reach
  • Studying quantitative, qualitative, and descriptive customer data

Key Features of Insurance App

  • Auto Insurance: Geo-location, single-step sign-in, payment gateways, human aided customer support, and claim filing, vehicle database, telematics, policy status, and multi-lingual assistance
  • Health Insurance: Appointment scheduler, telemedicine, one-click ambulance call, hospital mapping, video conferencing, quotes, and medical history tracker, ePrescription, medication reminder, and wearable device integration
  • Travel Insurance: Travel itinerary generator, local tracking, weather forecast, world clock time converter, currency converter, SOS In-app calls, quotes, 3rd party app integration, public reviews, and social media messages and status updates

All insurance companies sell different insurance products services for insuring people and things associated with them. More or less, all insurance solutions deliver specific services with the same features. Insurance companies deal with different categories of products, so developing an application largely depends on multiple features that make communication easy.

  • User Profile: Every insurance app offers a user profile showing details of customers using insurance services or interested in buying insurance products. A user profile will help insurance agents understand the user profile and their preferences.
  • Policy Information: Accomplished insurance solutions offer details of insurance policies on the dashboard. This detailed information lets you get policy status and reminders to renew the policy.
  • Claims Filing: Insurance apps let customers file claims on insurance apps by offering adequate information. They also allow the customer know the exact status of their claim at different claim processing stages.
  • Payment Mechanism: Customers prefer to pay their insurance premium without facing any hassles. That is why payment mechanism features let customers any fees or recurring charges of existing or new policy through the app.
  • Push Notifications: Push notifications help insurance companies keep their audience updated. When you think of insurance app development, notifications help companies send alerts frequently regarding insurance products and updates.
  • Customer Service: Insurance solutions with chatbots remain active 24/7 as customer support and service representative. Chatbots offer you the right information you need to make a decision or clear any confusion on insurance products and services.

Summing Up

If you want to accelerate the growth of your insurance business, the best thing you can do is build web and mobile applications. InsureTech app development companies can help the insurer get customized health, travel, and automobile insurance solutions. Always opt for a feature-rich app that conveniently solves multiple issues.

Author
Deepak Mehra
Deepak Mehra
Team Lead

    Deepak Mehra is a passionate software developer with a mission to help businesses understand the critical role software development plays in driving innovation and success. With years of experience in building software and applications, he excels at resolving complex technical concepts for non-technical audiences.

    When not coding, Deepak finds inspiration in hiking scenic trails and unwinding with music. This blend of creativity and logic fuels his ability to craft engaging content that bridges the gap between technology and business needs. Whether in the office or outdoors, his dedication to problem-solving shines through.

    Recent Post

    Top 7 Trends of Insurance App Development | Binmile
    Mar 01, 2024

    Top 7 Trends of Insurance App Development That Will Rule in 2024

    The insurance industry is expanding as the days are going by. In fact, a top data and business intelligence platform claims that the insurance market globally will scale by about 10 percent from 2021 to […]

    Insurance app development automations | Binmile
    Jan 11, 2024

    Automation in Insurance App Development is Not as Expensive as You Think

    Satisfying new-age customers using traditional service delivery methods has become almost infeasible these days. Yes, each consumer expects to be provided with personalized products and services to encourage them to become repeat buyers. However since […]

    Right investment in Insurtech | Binmile
    Jan 09, 2024

    How Can Right Investment in Insurtech Transform Your Business?

    The way technology is progressing, most manual tasks are going out of trend. Those days are long gone when approvals and rejections were paper-based jobs. These days a large chunk of work is performed online, […]

    Building Tomorrowโ€™s Solutions

    Max : 20 MB
    By submitting this form, you acknowledge that you have read and agree to the Terms and Conditions and Privacy Policy.