Insurance Mobile App Development: Key Features, Benefits, Costs & Process Explained

Quick Summary: An insurance mobile app is an excellent way to enhance customer experience. If you're entering the insurance business, you must invest in insurance mobile app development. During app development, check the critical app features, cost, benefits for your business, and more.

A mobile app is a convenient resource for smartphone owners. It can streamline your needs, whether shopping, entertainment, or general communication. The same is true for insurance apps. Statistics suggest that over 50% of insurance searches are performed on mobile devices.

Investing in insurance mobile app development is critical for running a successful insurance business. Whether it is vehicle insurance, home insurance, health insurance, etc., you must integrate all the essential features for an enhanced user experience.

Read ahead to learn how to build an insurance app for your business!

Must-Include Top Features of Insurance Apps

You must integrate some crucial features for a high-performing insurance app that provides a good customer experience. As per PR Newswire, 85% of organizations reported that investments in mobile app features directly impact their ability to reduce costs.

Feature	Description
Custom Dashboard	A custom dashboard is an important feature that you must include in your custom insurance app solutions. A custom dashboard helps the customer access some key elements of the app faster, such as Profile management Policy management Payments Claims Support services
Policy Details	With the policy details featured in the app, you can allow users to check their details, such as policy type, duration, claim status, etc. This feature can also provide information about new policies and changes in the existing ones.
Payment Gateway	By including this feature, you can make premium payments and claim processing easier. You can also provide convenience to the customer through various payment options, like debit/credit cards, digital wallets, and net banking.
Claim Processing	Using the claim processing feature will be easier if a person has to file and track an insurance claim. During insurance app development, you can add this feature to allow users to upload documents, report a claim, and track its status in real time.
Alerts and Notifications	A good insurance app must provide users with the necessary information on time. It should have an alert and notification system informing users about policy renewals, premium due dates, claim status updates, etc.

These are some of the essential features of an insurance app. Prioritize these features during the custom insurance mobile app development process.

What is the Cost to Develop an Insurance Mobile App in the USA?

The cost of end-to-end insurance app development is easy to deduce once you know the following.

• The features of the insurance app.

• The location of the insurance app development company

• Tech stack for insurance mobile app development

Depending on these aspects, insurance app development costs $30,000 and can range up to $500,000. Custom insurance apps may cost you even more. Also, the type of developers or team can affect the overall cost of developing a mobile app.

For example, a freelance app developer will cost less than an in-house team but may not deliver quality. In terms of cost and product quality, the best option is to go with an insurance app development agency.

Uncover the Benefits of Mobile Apps for Insurance Companies

The cost of making an insurance mobile application may seem overwhelming at first. But if you look at the benefits, they outweigh the cost. Insurance companies can reap several benefits by building an insurance mobile app.

Easy to File, Track, and Settle Claims

With access to all the features on the phone, customers can easily submit claims, upload necessary documents, and track the status of their applied claims in real time.

Faster User Base Expansion

Offering monetary benefits to current users for referrals can help you widen your customer base faster. As 64% of users prefer mobile apps to web apps, growing your customer base will be easier.

Better Service for the Customers

A mobile app can be handy for managing your customers' policies. Integrate chatbot features to improve the customer experience and encourage them to leave a review, eliminating the long IVR calls.

Valuable Data Insights

Using a mobile insurance app can help insurance companies in gathering data insights. With the admin panel, company heads can analyze user data using AI to get valuable insights.

These insights, such as the customer's way of using the app, pages surfed, products checked, etc., can be used to produce better products and improve the app.

How to Build an Insurance App for Your Business?

The custom insurance mobile app development process includes four key steps, from the initial discovery phase to post-launch updates.

Discovery and Planning

In the beginning, the insurance software development services provider performs extensive research on the market. The discovery and planning phase of insurance app development includes the following!

• Understanding how the market competitors work.

• Identifying the target audience and their preferences.

• Outlining the key features to include in an app

• Setting the project milestones and preparing the team for their tasks

• Estimating the overall cost of the project.

Design and Development
As you have a blueprint of the process, you can begin building the app. To do so, you must hire a mobile app development service provider.

The design phase includes a detailed design, including a UX wireframe, UI designs of app screens, clickable elements, etc. The development phase involves front-end and back-end developers working together to provide functionality and logic to the design elements.

App Testing

When the app is ready according to its design and functionality, QA engineers test it for the required functionality. The testing phase also includes vulnerability testing and verifying the app's overall security and stability.

Deployment and Maintenance

After the testing phase, you can launch the insurance app on the Google Play Store or App Store. This can help you understand the audience's reaction and make further improvements to make it more likable. With time, updating the app regarding security and features is also necessary.

Final Words

The global insurance market is speculated to reach $1.46 trillion between 2024 and 2029. These numbers suggest this is the best time to enter the insurance business. You must invest in an insurance mobile app to ensure you stand out from your competitors. The process involves efficient management of various tasks, including design, development, testing, management, communication, etc.

As these tasks can be overwhelming, you can assign them to a professional iPhone and Android app development company. A dedicated development agency can ensure superior product quality and cost-effectiveness.

FAQs

1. How do you find the right insurance app development company?

To find the right insurance app development company, you must check its portfolio, user reviews, case studies, technology stack, development cost, and support services.

2. Do you integrate new technologies into the insurance app?

Yes, we prioritize using the latest technologies in our insurance projects, such as AI, machine learning, chatbots, cloud computing, etc.

3. How much do you charge for insurance app development?

There is a one-size-fits-all approach here. To estimate the cost of the insurance app, we need to know your app requirements and preferences. Once we learn what you need, we can calculate your price.

4. How do I keep track of the project’s progress?

When you sign up for our insur-tech mobile solutions, we assign you a dedicated manager who provides you with all the necessary updates regarding your project.