The functionality of an insurance app is largely determined by its features. And the features of insurance mobile apps listed here are critical. Avoiding these fundamental and critical elements may result in the purchase and distribution of a mobile app that causes more harm than good.
With the increasing penetration of mobile devices, the insurance industry has gradually become more technologically savvy. With the steady increase in the number of smartphone users around the world, a progressive trend in the number of people using mobile apps for various financial services, including insurance, has also been observed. As a result of widespread mobile adoption, many insurance companies are now leveraging these technologies to streamline operations and achieve superior cost savings.
Mobile applications’ high level of portability and convenience have encouraged insurance service providers all over the world to incorporate these technologies into their salesforce and general operations. They enable an insurance company to save money on printing and delivery while also going paperless and being environmentally friendly. Because mobile applications can automate a variety of functions, including the complex claims process, such technologies eliminate the need for any additional workforce.
To give you an overview of the important sections of an insurance app, it is necessary to list the essential features that can be found in the majority of insurance apps in the insurtech domain, which include life insurance mobile apps, car insurance mobile apps, travel insurance mobile apps, and health insurance mobile apps.
These characteristics form the foundation of a general application guide for Fintech app ideas. Except for a few niche specifications, the following features remain consistent and ever-present, particularly during insurance app development of any kind:
1. Claim Reports in-App
The most prioritized stage of financial application development is the incorporation of a claims-filing section. The days of going around in circles to file claims are over. Submitting proofs should be as simple as taking a picture, whether with the app’s scanner or the phone’s camera. All the better if the entire process can be summarized on a single page.
In-app claim report creation and filing capabilities are among the must-have insurance mobile app features listed here. The app you deploy should allow policyholders to track and monitor the status of their insurance claims. More importantly, it should allow the user to file a claim by simply following the app’s simple instructions.
An effective insurance app should make filing a claim faster and easier. This not only allows customers to submit claims as soon as events occur, but it also makes processing them easier for you.
Before filing a claim, users should be able to seek advice and directions from their agents by sharing reports directly in the app. An app that allows for information sharing, tracking, and access during a claim streamlines the process and saves everyone time and effort.
2. Automated Reminders and Bill Payment
No prizes for guessing that payment gateway integration is critical for any type of insurance mobile app development. All major network providers, such as Visa, Master Card, and others, should be accepted by the gateway. Furthermore, automated billing for EMIs or a one-click payment process should be integrated.
You need an app that includes bill payment and allows clients to set automated reminders for themselves if you want to be the most proactive and modern insurance agency possible. Make no mistake, this is one of the most basic app requirements, and one that your customers will expect. This feature enables clients to make payments quickly and easily. Ideally, the feature should be customizable to each user’s preferences and send timely notifications when their premium due date approaches.
For example, the client should be able to connect their calendar to the app.
You’d be surprised how forgetful people can become (or maybe not). Many people still forget to set reminders for regular payments such as membership fees, subscriptions, and rent. An insurance app can be a one-stop shop for users to pay their bills on time and with ease.
3. Customer Service
Chatbots are no longer exceptional. Automated responses are a quick fix for routine questions. But what about unavoidable circumstances? You can’t expect a user who is stranded due to a broken vehicle to rely on pre-filled responses.
Integrate a Request a Call Back or Connect with a Representative option as a result. Such in-app call functionality will help the app to become what it is, a disaster-averting, quick response machine.
4. Access to Beneficial Resources
Policyholders want to know that their insurance information is available at all times. Even better if they can do it by opening an app on their phone and tapping a button. That is why you should look for an app that provides your clients with useful resources and tools at all times.
When an emergency arises, an insurance app can be a lifesaver for your clients. It gives them the ability to act quickly and easily. The right app will allow them to access their insurance company, pull up their ID card, create an incident report, upload relevant documents or multimedia, and so on.
This is one of the most important insurance mobile app features because it gives customers more control and saves them time. Furthermore, it allows them to handle many non-essential requests on their own. Instead of calling your office, they can simply open the app and find what they’re looking for.
5. Storage of Electronic IDs
Everyone dreads the day when they must provide insurance information. Typically, they are forced to rummage through papers in the glove box to locate the hard copy. As a result, one of the insurance mobile app features you should look for is instant access to electronic ID cards. Clients can access their insurance accounts on the go, 24/7, thanks to electronic ID storage via the app – no paper required.
When your customers have a smartphone and the app installed, they can access all of their insurance information whenever they need it. However, being able to present an electronic ID is more than just convenient. It can also save your customers both time and money. Getting pulled over without proof of insurance will usually result in a ticket and possibly a court appearance.
Electronic IDs have become commonplace, even if your clients are unaware. Digital proof of insurance is now required in all states. As a result, it is more important than ever to provide your customers with an app that has this capability. After all, eliminating the need for physical cards makes life easier for everyone. And, with an app, electronic ID storage is on a different level.
