Insurance policy management software helps carriers reduce manual work, improve decision-making, and keep and perform all policy-related workflows in a single centralized hub. It ensures end-to-end processes for issuing, modifying, renewing, and upgrading policies. Must-have functionalities also include underwriting, quoting, claims processing, and customer service. Although there is a lot of off-the-shelf software for insurance policy management, DICEUS recommends considering bespoke solutions as they have considerable advantages and value to businesses.
Benefits of custom insurance policy management software
Our insurance policy management software development services
Development from scratch
The main advantage of the insurance policy management system is obtaining a unique product designed to solve specific tasks set by the company. The disadvantage is that the cost and time required to implement such a system are significantly higher than the cost and time needed to create a product with specific standard solutions. Therefore, this option works best when no insurance policy administration software on the market meets the company’s needs by at least 20-25% or solves at least one local task in the company’s workflow.
Integration services
APIs can be used to solve a wide variety of tasks. One of the purposes includes providing information in a user-friendly environment. For example, such information may consist of data about insurance offers, locations of offices and agents, and insurance calculators. Another purpose is to simplify agent-client communication when collecting documents and images, submitting applications, and paying the bills.
Custom development
Instead of a ready-made solution fitting everyone or, at best, somewhat adapted for you, this approach gives you a product initially explicitly developed for your business needs and tasks. This ensures that the software product will solve your problems and help you achieve your ultimate goal. Besides, this approach makes your product unique for customers and turns disadvantages into advantages with the help of technology.
System modernization
The main advantage of this option is that the insurance company will work with one contractor in one insurance policy management software, which will determine the requirements for the product’s maintenance and implementation. However, the product can be modified for the insurance company’s specific needs at a lower cost than developing a solution from scratch. This option, among other things, makes it possible to create consolidated statements with all the indicators needed for the company.
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Benefits of our insurance policy software development services
Key facts about DICEUS
Our partnerships
Our insurance policy software development process
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What impacts your project duration
The timeline for software development can vary from a few weeks to several months or even years. The total duration of the project depends on several important aspects.
- Project requirements
- Time-to-market
- Team composition
- Chosen technology stack
- Integration needs
What affects your project costs
The cost of software development depends on the complexity of the project. The level of difficulty is determined by the following parameters.
- Scope of work and project’s complexity
- The number of upgrades and customizations
- Project completion urgency
- Engagement model: Time and Material, Dedicated Team
What we need from your side
To make sure the project development process follows the pre-agreed plan and is completed on time, we ask you to provide the following information.
- Project vision and goals
- Project-specific requirements
- Documentation, such as software architecture and design, if any
- Your availability for meetings and discussions
- Timeframe, if any
Our tech stack
Testimonials
Elena Markova
Board Member, UNIQA Ukraine
We were impressed by the depth of the UX analysis they did in terms of our customer’s research, buyer persona creation, user journey mapping, etc. All the information like research findings, for instance, was presented in a clear form (presentations, Miro boards, clear infographics) so it was quite easy to understand what we need to build and why.
Antoaneta Karagyozova
CPSO, Fadata
We are happy with DICEUS’ software implementation services. The team’s workflow is highly effective and professional in all aspects of the engagement. All clearly understand what goals we’d like to reach and do their best to do that as efficiently as possible. Overall, the partnership has been successful.
Phil Reynolds
CEO, BriteCore
The DICEUS team has consistently supported the BriteCore team for many years. Their engineers are well-educated and highly invested in the ongoing quality of the BriteCore platform with sustained relationships that extend over four years. We appreciate everything the DICEUS team brings to the table as a development partner.
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Frequently asked questions
Why is policy management software important?
Developing applications for insurance companies is an important step in scaling a business and in establishing a proper interaction between the company and the client. This field of business is highly competitive and very specialized; therefore, the introduction of modern technologies will create new opportunities, attract more new customers, and simplify customers’ interactions with the company. Call us and get a detailed consultation on how to implement mobile applications for insurance companies in your business.
How to improve policy management with technology?
It all depends on the application’s functionality. A lot of applications for insurance companies have the following functions: calling an agent, extending insurance online, maintaining an account, collecting documents, collecting photos and videos, and calling emergency services. You can also get expert advice and answers to your questions in the application. It is a helpful tool for better interaction between a client and a business, which helps an insurance company to become more open and transparent for everyone.
Do you provide IT consulting and software audits?
Yes. We offer all of the tools for IT analysis of any application developed by our company or third-party developers. We have all the up-to-date tools that help to identify the problems and weaknesses of any proposal at our disposal. Our consulting services cover the entire spectrum of the software life cycle – from methodology and agreeing on communication plans to developing the right approaches for regulation and analytics and choosing the right metrics to properly evaluate software quality.
