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## **A Comprehensive Guide on Web App Development for the Insurance Industry**

Building an insurance application has been a worthy business idea, especially during 2022 when the pandemic hit the global market. The entire insurance industry got revamped with additional regulations and it moved towards mobile-first technologies. Today, every insurance company is having an application to leverage its competitive advantage and make its offerings accessible beyond the boundaries.

According to the [Reports](https://www.statista.com/statistics/1246814/monthly-growth-in-us-health-insurance-app-installs/), from 2020 ending to the beginning of 2021, the monthly number of installs of health insurance applications among users from the United States increased by 23-36%, respectively. And, the trend for insurance application download will continue to rise exponentially with constant upgradation in features and functions.

This shows the high market demand and customer interest and awareness of insurance applications. So, if you are planning to build an insurance web application for your business, call RadicalLoop now.

We will help you with selecting the best features and functions and the right technology that can improve the performance of your app and straightway attract new customers.

Let’s discuss [Web app development for the insurance industry](https://www.radicalloop.com/projects/eventsured-us-based-events-insurance-company-web-app-case-study) in detail-

### **Web application development for the insurance industry**

Web application development is integral in bringing your business online. From banking to retail and the IT sector, most industries are reaping the benefits of web applications today. And similarly, it can massively support your insurance business too.

### **Does every Insurance Company Need to Develop a Mobile App?**

The above figures showed the unparallel growth of mobile applications in the insurance industry. But, do you think, it is important for every insurance company to develop a mobile app?

Now–a–days, people spend most of their time on mobile phones. And, top of that, **[88% of mobile time](https://www.insiderintelligence.com/content/the-majority-of-americans-mobile-time-spent-takes-place-in-apps)** is spent on applications. From booking online tickets to investing and trading stocks, everything is done from a mobile phone. Well, this is encouraging news for app developers and app publishers as the market for app development are boosting drastically.

So, apart from the figures and demand of application, insurance apps contribute significantly towards -:

- Facilitating smooth communication between the company and applicants
- Eliminates the manual task of filling and recording the policy documents
- Improve operational regulation in a single database
- Speed up the tasks of insurance agents & clients
- Easy to cross-sell new products and offerings and connect with new clients
- Minimizes your operational cost and increases the revenue for an insurance company

But, before you get started with your insurance application, make sure you analyze the customer data to an extent like never before.

### **Study Customer Data formula**

The insurance company primarily rests on customer data and for developing the application, it is extremely important to integrate crucial information followed by different types of structured data -:

**Identity Data** – It includes personal information – D.O.B., email address, social media profiles, telephone or mobile number, and home address.

**Quantitative Data** – It includes transactional information like payment frequency, bank account details, credit score, and more.

**Descriptive Data** – It includes information pertaining to customer’s ownership of a car, educational background, professional standing, property details, and family tree. It is important to share these details with your respective insurer.

**Qualitative data** – It includes behavioral details like personal interests, preferences, habits, and more.

Collect all these essential informations and subsequently filter the best of all prospects for upselling and thriving in the competitive market.

### **Choose the Insurance App that you want to build**

There are different types of insurance policies that vary depending on the niche in which your company operates. It includes –

- Health Insurance
- Life Insurance
- Travel Insurance
- Property Insurance
- Business Insurance
- Car Insurance

You can develop an insurance application with one policy or an app with all the policies with a large data system. Discuss this with RadicalLoop for better insights.

### **Must have Features for Insurance Application Development**

Once you have niche down your insurance app specifications, you can decide on the features required. Typically, the features more or less remain steady and are ever present in all insurance applications. You can have a look here -:

 **1. Admin Panel**

Admin Panel is an introductory page that includes the basic information of the insured person. Make sure all the information is clearly mentioned and displayed with actionable call-to-action buttons. For instance, include payment buttons, policy swapping options, assistance options, vehicle IDs in case of care insurance, and more.

 **2. Insurance Policy Details**

As the name suggests, this page must include information on the insurance policies, types of features and benefits included, a process to apply, policy coverage, sum assured, and more. Make it clear and visible so that users can easily understand the policy and choose the options that suit their location, income status, and health conditions.

 **3. Quote & Filters & Sorts**

This is among the best feature in any insurance app development. Here you have to offer proper pricing by listing different insurance policies in a row. Through this Quote Tab feature, you can connect your candidate with an insurance agent for better decision-making. This will help your candidates in making the right choice based on their requirements and budget.

 **4. File a Claim**

The insurance claim filing section must be simple and straightforward. Integrate a claim filing section into your insurance application. Here ensure that it is easy to upload the evidence (from a gallery or camera) with the correct quality and image size. It is recommended to conclude the entire procedure on a single page.

 **5. Push Notifications**

Businesses, in general never miss any opportunity to penetrate a new market segment or vertical. And, most importantly, to stay in the frame of your customers and competitor, it is important to send regular push notifications to enable a faster reach at the helm.

Your policy clients will be notified of the latest offers and discounts, changes in policy details, and more via notification. So, add this feature to your insurance app and send an unlimited no. of messages directly to your customers.

 **6. Geolocation**

Geolocation helps your customers in finding your office and track the movement of customers in different types of apps like car insurance apps, travel insurance apps, health insurance, and more. So, if you have customers from foreign, you can help them find a good hotel or the best hospital based on geolocation.

**7. Chatbot support**

Include Artificial intelligence-powered chatbots in your application to speed up policy identification and verification. It even facilitate personalized interaction between your clients and app, get claim settlement doubts to resolve and prevent fraudulent activities, and offer unparallel customer support. Integrate a Request a Call Back into the application for quicker response.

 **8. In-App Purchase**

Facilitate your customers with in-app purchases through different modes of payments including MasterCard, Visa, and American Express. Automate the billing process for a one-click payment process and EMIs for a better user experience.

### **Benefits of Insurance App Development**

The demand for insurance app development is increasing at a breakneck. This app development concept not only improves your relationship with clients but improves your brand identity in the market. Let’s discuss the benefits of developing insurance applications -:

**1. Increases Customer Base**

Insurance mobile application users are increasing exponentially. So, if you pace up with this trend, you can strengthen your targeted demographics and attract new users significantly.

**2. Connective Communication**

The insurance application will let your users connect with you at any point in time. This will maintain constant contact and help them understand your policies in a better way. Moreover, with the help of a chatbot, you can assist your customers in solving any type of complexity when the in-charge operators are not available.

**3. Automating Processes**

When you look for **Insurance App Development,** you are integrating automation into your offerings. This will minimize the paperwork and eliminate the chances of errors too. Start streamlining your business processes with IT automation tools to save time and get your things done faster.

**4. Personalisation**

Through **insurance web app development,** you can collect your customer information and offer personalization based on the data collected. This in turn builds loyalty and increases your customer retention rate.

**5. Feedback**

When you develop an insurance application, you can get feedback from your users. Incorporate the feedback into your services and offerings and make your client satisfied.

**Important Note:**

Before you start with the insurance application development, make sure you start with MVP app development first. Test your product with the early users and consider their feedback during your application development process.

### **How RadicalLoop can help you with [Insurance web app development](https://www.radicalloop.com/web-development)?**

Developing an insurance application is quite challenging because you have to collect information from candidates and based on that decide on the plans and offerings. However, if you connect with an experienced web application development company, you can expand your business to the next best level.

Always start with figuring out your niche and go for MVP to get started with the application development process. In case you are stuck somewhere, connect with us today.

RadicalLoop is a trusted Mobile application development company that has helped businesses with multifold revenue with their app development ideas. [Contact us today](https://www.radicalloop.com/contact) to discuss your business!

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Planning to build an Insurance application? Check this 2023 guide and follow the steps. Hire the best Insurance web app company.

Web App Development for the Insurance Industry | 2023 Guide

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