The Biggest Advantages of Insurance Applications for Companies

The estimated size of the global insurtech market was USD 2.72 billion in 2020. It is expected to grow at a CAGR of around 48% from 2021 to 2028. Considering the size of the market, it is safe to say that Insurance companies are increasingly becoming technology-oriented — and more specifically — focusing on digital transformation.

Insurance mobile app solutions are one of the most important steps in this process. They are not an option anymore but a necessity. As consumers move towards Smartphones for almost everything, insurance isn’t left behind. Today, hiring an insurance app development company ensures that you have an application that connects you with your customers in a much better way.

Consumers need insurance mobile apps for a wide variety of purposes. They want to easily look up information about their insurance policies, connect with support services, get reminders about renewals, and much more. Most of all — they want the convenience to solve all their insurance issues from the comfort of their homes, without visiting the office.

Read more: Top Features to have in Your Insurance Application

This article will highlight the top advantages of insurance application development for your business. We will focus on how an insurance app benefits companies and provide a suitable way for consumers to engage with the company.

Top Advantages of Insurance Application Development

Mobile insurance projects are advantageous to both parties in interaction: the insurance agency gets an instrument to draw in clients, who, thus, can speak with its customers when and how they like.

On the other hand, customers get an application from where they can access everything they need to know about the insurance company. It creates two-way communication between both of them without the hassle of visiting the office.

Here are the top advantages of having an insurance mobile application for your company:-

Easy Claims Processing

Mobile applications are making claims processing easier and better. Insurance app development solutions take out a lot of hassle from the claims process. People can upload images and relevant documents for the agents to assess and evaluate. It will also provide them with the required details about how to apply for the claims.

Insurance web app development enables agents to get information quickly, while consumers can also quickly understand the price and charges for insurance if any. There are different options for the claims process, including third-party, which the consumers can avail.

Better Communication

One of the best insurance app features is the ability to connect online with the company. People want to contact customer support and get assistance for their queries through the mobile application. They don’t want to wait for hours before receiving a reply. For this purpose, many agencies integrate chatbots in their apps for insurance to quickly reply to customers.

While chatbots are available 24x7, they redirect to the agency personnel, who will handle the request from there. It is convenient for both parties to resolve the issues online before making a visit to the office. Often, it saves a lot of time for everyone.

Quick Information Access

Today, users want access to information easily and quickly. Insurance mobile app solutions provide a plethora of information to its users. People can get information about various insurance policies, compare different options, and understand what each and every policy offers to them. On top of that, it is also feasible for the company to provide all the information about their services in one go.

Consumers need information because they want to confirm that they are making the right decision. Therefore, it is important to provide all the data regarding information policies to ensure that no one gets confused about anything.

Personalized Offers

One of the best insurance app features is push notifications. When insurance companies get data about their consumers, they can make use of it to deliver the best, personalized offers. It will lead to a high amount of engagement with the customers as they would be glad to receive offers about their specific requirements. On the other hand, providing personalized offers also improves the customer retention rate.

Because insurance companies can’t reach every customer offline, insurance applications become a great way to send unique discounts, vouchers, and offers. It also offers information about new product launches, policy changes, and more.

Real-time Help to Sales

An insurance application also provides real-time information to the sales team about the prospects on the app. By gathering the data from prospects, the application can redirect the data through the CRM to the sales team. It gives them an idea about which leads are in the pipeline and which ones are closed. They can update the status in the insurance app without any hassle.

Of course, including both B2C and B2B features may be a hassle for the custom software development services company that provides the insurance app, but it is worth the effort. It will centralize all the processes and lead to better results — both for the insurance agency and the end-user.

Read more: Why Do You Need a Web App for your Insurance Company?

Top Features to Have in the Insurance Application

Now that we understand the biggest advantages of having an insurance application let’s focus on the top features. Insurance app features vary from company to company, but some remain similar based on the common customer requirements. Here are some of the best features for an insurance app -

  • User Registration: Policyholders and prospects should have the option to register on the insurance application and create an account. If they become customers, they can get all the details on the app.
  • Live Policy: This is a great feature to have — an online policy removes the hassle of carrying the policy everywhere in case of emergencies. The handy policy is a much better option where no one likes to wait for the actual copy of the policy.
  • Policy Renewal: Another feature to have is the option for policy renewal. Customers should receive information about their policy renewal date and must be able to renew through the app. This also needs payment gateway integration to pay for the policy.
  • Claims Filing: Consumers should be able to file for an insurance claim using the application. They can input the details and the documents, while the insurance agents can review the information and process the claim.
  • 24x7 Chatbots: This is one of the best features to have as consumers can connect with the company whenever they want using a 24x7 chatbot. It also keeps them engaged, and users feel good when their queries are resolved in the quickest time possible.

Read more: How Does Ruby on Rails Technology Impact the Insurance Sector


An insurance application development partner is essential for companies to get a high-quality, feature-rich application for their agency. The application provides significant advantages to both the insurance company and the end-user. If there is a proper application that can address all the insurance needs of the consumer, then it’s going to be beneficial in the long term for the company.

Contact our insurance app development experts at BoTree Technologies for a high-quality web application.

Originally published at on November 22, 2021.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store