Why an Insurance Mobile App Is a Must-Have for Your Business

Why an Insurance Mobile App Is a Must-Have for Your Business

Mobile technology has rapidly changed over the last decade. We’ve seen it disrupt a lot of industries & promote growth for businesses. Even the insurance industry is catching up quickly on the trend. Insurance companies understand the impact it can create for their business & the opportunity for seamless customer experiences.

Today, insurers are more aware of the purchase habits of policyholders and potential customers. They understand that the importance of a strong mobile strategy since most customers spend a considerable amount of time on their devices. Taking the digital route will help widen your reach and make services much more accessible for an array of users.

Through this article, we will take you through the important reasons for insurance mobile app development the essential features for you to consider.  

Why Do You Need an Insurance App?
Let’s help you understand why customers will immediately switch to a mobile app & how it can help you focus on improving services. 
    1. Better Communication
With an app in place, insurance companies can effectively communicate with policyholders with ease. Since most of your clients may spend a lot of time online, investing in a chatbot can ensure 24/7 communication for queries. 

    2. Seamless Process
An insurance app can simplify and accelerate processes so that data is shared in real-time. For instance, if an accident has occurred, the client can take a picture and forward it through your auto insurance app to request coverage. In case of a claim, clients can clarify their doubts through live chat support. 

    3. Easy Data Storage
More and more clients are relying on mobile apps for their insurance needs. You can tailor the insurance services that help you easily segregate client information. Through profile information, you can gather important details that help you provide personalized services to customers. 

    4. Attract More Customers
Most customers favor mobile apps over websites. It is more convenient to browse information, search for plans that are quicker to access services.

The Different Types of Mobile Apps for Your Business 
Let us look at the four main types of insurance apps you can consider, depending on the clients you serve.
    • Life Insurance
    • Health Insurance
    • Car Insurance
    • Homeowner Insurance 

While these are the four categories of insurance apps, the basic features of these are common. Let us take you through the features you should consider:

User Profile: Upon registration, a user profile should provide options to fill in basic information about the customer. In the case of a life insurance or health insurance app, the app would provide information like medical payments, coverage, personal liability & other details. 
In the case of a car insurance app, data will be reflected on the user profile.

Live Policy: Physical documents contain way too much information that is difficult to consume. In today’s fast-paced world, no one has the time to browse through a wordy document. At times, customers may even miss out on reading important information since plenty of data can be overwhelming. Instead, treat your customer like a friend whom you can easily reach out to & explain what the policy covers. A live policy is also one where users view their policies live, edit and file claims.

Push Notification: It’s important to engage your customers at every step. That means your interaction with them has to take place even after policy delivery. They will want to be notified about their policy going live or the status of a claim. Ensuring you have push notifications will help build trust with clients.

Seamless Payment Integration: Just like all other apps, clients want easy and quick payment options. Investing in an integrated payment gateway system can help customers swiftly make payments upon choosing their insurance policy. 

AI-Powered Chatbot: Practically every website or app you visit has a chatbot that helps users get answers to queries on the go. A quick chat between the client and the chatbot accelerates the communication process between the financial advisor and the client.

Filing a Claim: It must be a hassle-free and easy process. In an event that an accident occurs, clients should be able to share information efficiently. The “add photo/video” or “add audio” option will also help in processing the claim effectively.

Insurance App for Internal Employees: Apart from making your business go digital, you can also develop an app for your employees. Here’s a look at the features you can consider:
    • Signup/Login
    • User Profile
    • List of Policies
    • Pricing 
    • Push Notifications
    • Record of claims – resolved & in process

One of the most important benefits of developing an app for your agents is the single view of clients and their detailed information. Here’s how the claim of clients is segregated. 
    • Information on claims
    • List of documents
    • Interaction with customers
    • eSign

Admin Panel: There also needs to be a way for you to monitor employees. If you develop an app for your employees, an admin panel helps you explore communication and other details between agents & customers. Additionally, with an admin panel for agents, you get access to your admin profile and the ability to manage employees better.

Summing Up
We hope through this article we have helped you understand the importance of taking the digital route forward. Since most people spend time on their smartphones, your clients will also want to manage their insurance policies on an app. With the right technology and a clear understanding of your business goals, and insurance mobile app can help you accelerate processes & attract new clients all at the same time.

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