How to Develop an Insurance Application? Costs and Must-Have Features

People have resorted to insurance apps because of the booking problems they face with the insurance companies and also to avoid the long waiting queues. With the online insurance apps, you just have to put down a little more information in detail about your coverage needs in the form. An insurance app development company processes it and you can see how effortless the whole process of getting insurance can be. In this blog, we will tell you all good reasons why the insurance app industry is booming like never before. The deal is lucrative, if you wish to develop an insurance application, then we have listed down the must-have features of an insurance app.

Practically speaking, mobile applications have changed the way our fingers operate! Insurance industry sector, be it healthcare, automobiles, travel or life insurance, is highly competitive. Having a mobile application for processing indeed gives you an edge over the others. If you are looking for one good reason why your company should go for an insurance app development, we give you five more. Have a look…

It allows you to initiate a faster and effective communication between the client and your company.

Every task in an app is automated which saves a lot of time for the insurance agents which they can utilize to perform other activities.

The insurance agents do not have to spend time behind the finding of new clients.

It gives you a better reach to the target audience. You can advertise the app on other apps and thereby acquire new clients.

You have better opportunities to collect and process the data.

You can maintain transparency throughout the process and make more data-driven decisions using the app.

So if you are related to any of the above insurance industry and wish to go for insurance on-demand app development, then it is the right time to initiate the process.

However, before jumping into the process of app development, there are certain things which you should analyze. This will give you a better understanding of why you should develop an app for your insurance company.

Research the market:

In-depth research about your competitors and the industry gives you deep insights about the figures and the target audience. You can observe their problems and look out for the ways in which you can solve them in your application. You can have a good idea about the type of user-interface they have developed in their app and how it is contributing in attracting more users.

Find out which problems do you intend to solve:

Do you intend to solve the paperwork problem? Manual entries and paperwork management is a tedious task. Quite often does it happen that human errors lead to some severe issues? However, an on-demand insurance app development can solve this hassle. It deals with the paperwork and gives enough time to the insurer to effectively manage other related processes.

Do you intend to ease out the policy selection:

With various types of policy options available to choose from, picking the right policy is a real deal for the client. It is hard to figure out for them which policy will work the best for them? But an insurance app can be a helping hand. It may allow the client to compare the policy, analyze the information and offer them a suitable plan.

Solving the problem of finding a doctor:

If you are creating a healthcare insurance app, then you definitely need to solve this one. People who wish to have insurance either for themselves or their family, usually find it difficult to search for a reliable doctor. Traditionally speaking, they would look out for a doctor in the directory, find a specialist, book an appointment and visit them. But a healthcare application having a robust search mechanism can solve this problem easily. A customer can easily find the doctor in the search option and connect with them through the app.

You can opt to develop an insurance mobile application for the following industry.

Health insurance app;

Car insurance app;

Life insurance app;

Travel insurance app.

In this blog, we are going to discuss the health insurance app in-depth. Keep reading..

Everybody loves a straightforward, easy and user-friendly app that helps them to complete their task without unnecessary visiting and calling. A healthcare insurance app does exactly the same. If you develop an insurance app, ensure that it helps in the following task.

Easy to find insurance solutions;

Easy to compare the insurance plans;

Easily getting the contact information of relevant person/doctors;

Instant revert to the queries;

Claim management;

Notification and alerts;

Plan renewal and more.

Here is the list of companies that have successfully grabbed their market share by developing a healthcare app.

1. UnitedHealth Group;

2. Anthem;

3. Humana group;

4. Aetna;

5. Independence Blue Cross group;

6. IMG group;

7. Molina Healthcare.

What are the basic features of the health insurance app?

Profile set up:

It is the first point of interaction between your client and the app, make it count. Design an app that allows the client to fill out the basic information and connect with the app. A profile should display all the basic information of the client, personal information and things he wants to cover.

Within no time, they should be able to get on board and proceed further with the process.

Search health insurance plans:

Once the user makes the registration with the app, their journey begins. Well, people research a lot about the healthcare insurance plan before they get one for themselves. Hence the very next step they will do is search for the convenient health insurance option.

At this step, it is your duty to provide them all relevant and convincing information about the plans available on your app. You can either first collect their requirements in the form of a questionnaire and then display the suitable plans. Or, you can make a table and display the comparatives. This way it becomes easy for them to know about the insurance plan in detail and choose the best fit. You can also make a section for FAQs where the user will get all the necessary information about the policy.

Buying the policy or renewal of the policy:

The customer is landing on the app because S/he wants to buy a policy. After offering them the perfect policy options, it’s their turn to make the final call. They should feel that the policy is beneficial or else they are not going to make the purchase.

The application form should be simple, a single page and easy to understand. The user will complete the enrollment and their effective date of coverage would be visible. It is advisable that you keep the initial period of 10 days for the bill payment by the user. And the policy structure goes further. If a customer is supposed to renew the policy, S/he should be able to see how much to pay and keep track of it.

Payment processing:

In order to avoid lengthy bank procedures, a client is opting for a health insurance app. With busy schedules, there is not enough time left to go and visit the banks for opening an account. And therefore, your app needs to have a payment gateway integrated with the app to make the whole process easy and better.

Additionally, the insured individual can easily pay the premiums without risking their coverage. You can also plan a monthly premium policy and make it more secure. Also, the first time users can pay the doctor’s bill soon after the appointment.

Searching Doctor :

As mentioned above, searching for a professional, reliable and specialized doctor is the toughest task a customer has to do for getting an insurance policy. However, your app needs to have this search filter that is so powerful in connecting the customer with the right doctor.

Once the customer enters the symptoms or special requirements in the search option, the app should display a list of nearby doctors. For this, you may need to integrate Google Maps API, which can easily facilitate customers to locate the doctor.

There are chances that the customers make a search query using the direct name of the doctor or the specialty. Your app should be capable of handling such direct queries and show relevant results.

More filters can include, searching doctors by years of experience, languages and the cost of the consultation.

Effective communication with the doctor:

This is another deciding feature on the list. For bookings of appointments, you can have a calendar within the app that gets updated every time a user books an appointment. A user should be able to navigate within the app easily to check the free dates and time slots.

Also, they should be able to connect with the doctor in case of any emergency or unavailability of an appointment.

Push Notifications:

A customer needs to be kept updated with every single process going with the application. Let them know about the discounts and the offerings through push notifications. Push notifications increase your reach of getting connected with the user.

Push notifications can also remind them of their scheduled appointments with the doctors and other important dates.

Easy access to documents:

The customer should not feel erratic while searching for a lab result or a prescription. Instead, it should be available handy within the application. Create a document section where you can store all the relevant data. However, ensure that you encrypt the data so that it doesn’t leak and fall into unwanted hands.

Multi-lingual support:

If you target various countries, then you need to include the multilingual feature in the app. This feature allows the customer to talk with their preferred language of communication.

However, building a health insurance application is not just about features and functionalities. Depending on the country you wish to develop the insurance app in, there are a set of rules which your app needs to abide by.

1. For developing an app in the US, you need to comply with the HIPAA guidelines. This guideline provides standards about how you need to store and process sensitive users’ data.

2. For app development in EU countries, you need to abide by the GDPR guidelines.

3. For Canada, you have to follow the Personal Information Protection and Electronic Documents Act.

4. For the UK, you need to comply with the Data Protection act.

How much does it cost to develop an insurance mobile application?

If you are tight on budget, you can include the basic features and get started with the application. However, the final cost of insurance app development depends completely upon the features and the complexities you include.

If you wish to go for cross-platform app development, it might cost you around $30,000 to $75,000.

The cost of app development also depends on the development partner you choose or the hourly cost of the hired mobile app developers.

Conclusion:

The insurance app industry business is lucrative and if you develop an app that solves every problem of the customer, then definitely it will earn you millions of dollars. Having said that, it is challenging to develop a health insurance app. If you have any queries or questions, you can connect with our insurance app development experts.

We hope this blog shares relevant information about the insurance app development and you are able to target your audience effortlessly.

ABOUT THE AUTHOR

Sanjay Kidecha

CMO