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Insurance App Development

An insurance company has witnessed tremendous growth in recent times thanks to big brands developing mobile apps in Singapore. Currently, a large number of customers are looking for ways to pay for their premiums and file claims without necessarily traveling to the company’s offices. Insurance apps will cater to these needs, in addition to many other benefits. Most importantly, insurance will improve your business in various ways.

Simplified Claims Processing

Execution of claims using mobile insurance apps is free, saving some money for the user. It makes the life of both insurer and the client easier. They save time that will be used in doing other productive tasks. The time can be used to improve different sectors to serve the customer. The client can take photos of his/her car accident and upload them on the app without necessarily calling the insurer at the site of the accident.

Insurance Telematics 

Telematics allows the installation of sensors that records how the driver drives the car. It gives the insurer real-time information to enable them to know the driving behavior of their client. This app allows real-time reporting of data. The drivers with good driving behaviors can be given better rates since they are classified as low-risk drivers.

The fee reduction is implemented through the app. This provision creates a culture of good driving habits benefiting both the driver and the insurer. While the drivers become more careful, the insurer will incur few claims and might offer insurance at a reduced fee but, at the same time, make a significant profit.

Sale Efficiency Growth 

The app allows the insurance agents to maintain touch with their office at all times. They can access their office information even when in remote areas. They can work using their mobile phones even when traveling or when at home. Management of clients is simplified using some tools such as automation and CRM that allows agents to manage their clients effectively.

Prompt Sealing of Deals with Clients

Due to increasing competition in the insurance industry, companies want to maximize every opportunity of acquiring a client. The insurance app will allow you to seal a deal with a client even on the first encounter. They do not have to travel to the company’s office to get their insurance calculation or pay.

The app allows for automatic calculation where both parties can sign digital documents, and the client makes payment through an integrated payment system in the app. In the end, the company will have acquired more clients. Clients are likely to prefer this mode of doing business since it is more convenient. The company has an advantage that the client can make a decision and pay immediately without waiting to travel to the office. This waiting time could be the time the client could change his mind or get convinced by another insurance agent.

Bottom Line

The insurance app has benefits to both client and insurance company. While it is more convenient to use in both parties, the company is likely to get more clients making the business flourish. If you are dealing with an insurance company, you should consider using the insurance app to increase your customers.

Post Author: Eleanor Horton

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FAQ

Having this option means that if you ever want to increase the amount of lump sum payout of your policy in the future, you are eligible to do so without providing current medical status, or simply, no questions asked.

The insurance company will always assess their risk when a client has medical conditions. Being overweight may lead to other more serious cardiovascular diseases or diabetes so that the company may have to adjust the policy terms. You may also undergo a medical examination that ensures that you are perfectly healthy despite your weight. The severity of your asthma may also matter.

If you have just started smoking, the company may encourage you to stop it in order to not compromise your health. If your smoking has already damaged your lungs, then an insurance company will have to assess their risks depending on the severity of the damage and your own management of the addiction.

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