When one starts his round-the-world adventure, he hopes nothing will happen, and medical care will not be required. And when things lose the right path, there’s a sea of anxiety: how to solve the problem fast, qualitatively, and on a budget? Making an appointment with a doctor overseas can cost as much as a ticket to the Titanic. In case you have done a great and costly renovation in your apartment, you will worry about your neighbors’ prudence: whether they aren’t going to make an accident with a washing machine? An expensive pedigree dog that you’ve bought also can turn out to become the source of your nervousness: what if it is ill or someone wants to steal it? There’s a document that can’t prevent the circumstances, but it can change how you feel when something undesirable happens. It’s much easier to repair the car by paying money from the insurance company if the accident happens than to spend it from your own pocket.
A danger foreseen is half avoided, they say. Since people discovered the power of strategic thinking, they are definitely interested in solutions that can serve as a soft landing beneath. And you can contribute to the industry if insurance app development is a subject that makes you feel inspired. The Purrweb prepared a short excursus into the nuances of creating such sort of platforms.
Diverse types of solutions
As you can guess, an insurance app is a specific software honed for helping people connect with insurance vendors via mobile devices. Since there are a plethora of objects that we can be nervous about, there are various versions of products for specific needs. Let’s consider the most notable of them.
Car Insurance Apps
Any car owner would be happy to have a convenient tool for regulating sudden situations. Car insurance app can become an irreplaceable tool in such cases.
Sample: GEICO Mobile Car
The product allows its users to instantly chat with an executive in order to promptly answer their problems. The platform has encrypted programming, which opens access to insurance ID cards and specialist contact in case your car ran into a problem. Taking care of users, the app offers maintenance schedules.
The set of functionalities that car insurance app traditionally includes:
Easy and convenient policy management
The platform should offer features for policy management such as renewals, claims, and policy details management.
Real-time assistance
A tangible advantage is an offer of real-time assistance for any issues and support needed by customers.
Crash and emergency services
Car insurance apps should offer crash and emergency services such as roadside assistance, towing, and ambulance services.
Insurance tracking and reporting
A well-tailored product should offer a tracking and reporting feature for important information such as insurance tracking, policy status, and claims status.
User-friendly interface
Nothing can attract people to the product better than a user-friendly interface that is easy to navigate and understand.
Life Insurance Apps
The product that can offer a combination of investment tools with an insurance policy.
Sample: Globe life
Since searching for an insurance agent can be a wearing task paired with enormous paperwork, people prefer to avoid it with a mobile platform. So, one can insure his life escaping any medical exams and personal contact with an agent.
The functionality of such type of insurance app predominantly includes:
Policy management
Life insurance apps should allow customers access to policy management features such as renewals, claims, and policy details management.
Insurance tracking and reporting
Life insurance apps should allow for customers to track and report important information such as policy status, claims status, and insurance tracking.
Premium payments
Life insurance apps should offer an easy-to-use, secure, and convenient method of paying premiums.
Easy access to support
Life insurance apps should provide customers with easy access to support and assistance regarding any policy-related issues.
Investment planning
Life insurance apps should offer investment planning options for customers to ensure financial security and stability.
Travel Insurance Apps
In some circumstances the product serves as a magic wand by helping people to solve various problems overseas.
The set of functions that customers expect from an insurance app are as follows:
Claims management
Travelers will be happy if their claims will be processed very quickly and easily.
Travel assistance
Travel insurance apps can offer travel assistance services such as emergency medical services, trip cancellation, and travel delays.
Payment processing
Customers value when the service offers easy and secure making payments for insurance premiums.
Localized information
Travel insurance apps should provide customers with relevant information about local customs, laws, and medical facilities.
Easy navigation
You can’t do well without a user-friendly interface that is easy to navigate and understand.
Sample: Revolt
Traveling sometimes means uncertainty and diverse troubles. Revolt invites travelers to pay for the pay-per-day plan and automatically insures the user as soon as he enters a new country. By GPS, it equips the user with its money management tools which teach him to use the currency very responsibly
Pet Insurance Apps
The four-legged inhabitants of your house need their own insurance policy. Let’s have a look, at how it paired with an insurance app can contribute to their well-being.
The service usually contains:
Vet locator
Pet insurance apps should include features to help customers find veterinary clinics nearby.
Claims management
Pet insurance apps should allow customers to quickly file claims and track their status.
Policy management
The platforms should equip customers with the ability to manage policy details such as renewals and cancellations.
Health tracking
Pet insurance apps provide customers with tools for tracking their pets’ health and accessing health-related tips and advice.
Easy payment processing
The opportunity to securely and conveniently make premium payments is an intrinsic part of a workable solution.
We can’t avoid mentioning real estate insurance apps like Lemonade.
Purchasing house insurance can be a tedious task, but if you have this app, the challenge will be as simple as frying potatoes. The Lemonade app saves potential insurance seekers from the fuss of paperwork on their way to acquiring home insurance. The app fascinates users with the 5-second claims of embedded thanks to its anti-fraud scheme of work
Data security and legal compliance
Don’t underestimate the necessity to keep confidentiality and adjust all the components the platform includes to the requirements of law depending on the local particularities.
Why is an insurance app a prospective alternative for a startup?
Demand for insurance products and services is always high, as it is a necessity for individuals and businesses to protect themselves from risks and uncertainties. Jumping into the expansion of the market can turn out to be rewarding: especially if you’re taking place in an emerging economy. As more people purchase insurance, the market for insurance apps will also expand. An insurance app can offer customers the convenience of accessing their policy information, filing claims, and communicating with their insurance provider from their mobile devices which does it a really comfortable and sought-after service.
Reducing operational costs for insurance companies eliminates the need for a physical office and customer service personnel. The tool often foresees offering personalized policy recommendations based on the user’s needs and provides real-time advice and support. And finally, by collecting data to understand their customers better and improve their products and services, a startup founder has all the chances to overtake a traditional industry.
