Risk Мanagement Insurance Соmpany

What we offer

Custom software development

In wholesale standardization, it is the unique product and offbeat approach that can give an organization a competitive edge over its rivals in the niche. This is true of insurance enterprise risk management, where off-the-shelf software will hardly let any risk management insurance company stand out among its counterparts. By commissioning bespoke insurance risk management software, you will get a solution that will suit your business to a tee and exclude splurging on functionalities you will never use.

Software customization

If you have acquired out-of-the-box insurance risk management software and want to have it tailored to fit your particular needs, we are here to accomplish the whole scope of related services. In case you have legacy software that has stopped manifesting satisfactory performance, our team has sufficient expertise to modernize it so that you can keep abreast of all modern technological developments. Our customization services encompass analyzing your requirements, IT consulting, insurance risk management software development and design, deployment, and support.

System integration services

Even the best solution can do your risk management insurance company no good if it stands apart from the ecosystem of your organization, functioning on its own. Integrating it with the rest of the IT infrastructure will help you get the actual value and bolster the enterprise’s overall efficiency. Our experts offer qualified consultation on the nuts and bolts of insurance risk management software integration. We provide data and API integration services, creating service-oriented architecture to facilitate information flow and enable the integration of other solutions.

Cloud migration services

Today, on-premise software lives on borrowed time being ousted by cloud solutions left, right, and center. Sticking to such outdated ways of insurance enterprise risk management spells relentlessly lagging behind your competitors. Our specialists will help you hydrate the cloud whatever scale of migration you find necessary, be it enterprise system migration, data migration, or database migration. The technologies we apply will allow you to create high-profile cloud-based solutions at Oracle, Azure, AWS, or Google Cloud Platform.

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Benefits of our risk management software development services

In-depth analysis of your business

We will study your enterprise inside out to analyze its current state, identify the challenges it faces in its core activities, and determine the ways and instruments to combat the persisting issues. As an outcome, you are left with a comprehensive problem-solving strategy that includes not only an algorithm of practical steps to be taken but also the technological stack roster that is to be employed at each stage to reach the outlined objectives.

Expert consulting and software audit

We take stock of your organization and survey the software your enterprise relies on. Our specialists inform you of its up-to-date condition and endemic shortcomings as well as offer our insights as to how they can be overcome. Thus, you will become aware of security, functionality, or any kind of issues that are symptomatic of your software and can introduce immediate measures to redress the situation, which is sure to positively affect your business cost-efficiency.

Dedicated teams led by a certified PM

When we say dedicated, we mean it. The crew allocated to the project will work only on it without spreading themselves over multiple errands – a practice adopted by some unscrupulous outsourcers bent on getting the most profit and taking little care that it will affect quality and deadlines. Moreover, our company is always ready to reinforce the project team with competent experts possessing the necessary skills who will get into gear on short notice.

Strong expertise in insurtech projects

Custom insurance risk management software development is what we excel at. We have completed many insurtech projects and know how to equip a solution with pivotal functionalities and integrate state-of-the-art capabilities provided by such advanced technologies as AI, ML, and IoT. The multi-modular architecture of our insurtech products embraces risk assessment, ERP, claims management, underwriting, and data warehouses used for insurance enterprise risk management.

Our custom software development process

DiscoveryWe kick off by scrutinizing customer’s requirements. When we come to grips with those, we identify the main challenges, goals and tasks of the project. At this important stage, we communicate with the client regularly to clearly understand all the requirements and make sure all stakeholders have the same vision as to the result. Afterward, a list containing every requirement and task is compiled, including the project scope, recommended team composition, tech stack, and other details.

DevelopmentWhen everything has been planned and agreed upon, the development lifecycle becomes clear and robust. Yet, in case any unexpected situations or emergencies crop up, we keep a communication channel with our clients open where our project managers can discuss with them all matters related to the project. As a result, insurtech products of top-notch quality are delivered according to scope.

QA and testingInsurance risk management software, as one of the varieties of fintech solutions, must be secure . We ensure security via a thorough testing procedure leveraging SonarQube that all our output undergoes. As soon as the project is launched, our experts agree with the customer on the stages and kinds of manual and automated tests that will be utilized to test quality and security. Plus, systematic code reviews and cross-reviews help guarantee the safe and impeccable performance of the product.

DeploymentThe deployment stage is totally the client’s responsibility. But being an obliging vendor, our company meets the wishes of our clients halfway and undertakes the inspection of the future environment for vulnerabilities and technical bottlenecks. We create a list of recommendations following which you can remedy all problems before the deployment happens to start getting revenue.

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What impacts your project duration

Before you start a project, you can never define the precise time it will take. However, a ballpark estimation is possible if we have the following information.

Project requirements
Time-to-market
Team composition
Chosen technology stack
Integration needs

What affects your project costs

The project budget usually depends on the factors enlisted below. We highly recommend to start any project with a discovery phase to accurately define the project scope.

Scope of work and project’s complexity
The number of upgrades and customizations
Project completion urgency
Engagement model: Fixed Price, Time and Material, Dedicated Team

What we need from your side

Please provide the information indicated below to help us define your project scope accurately.

Project goals, vision, and roadmap
Project requirements
Project-specific documentation
Your availability for project discussion sessions

Our tech stack

ASP.NET

Android

C++

React

Java

HTML

iOS

JavaScript

Ruby

PHP

Python

Objective-C

Explore our case studies

Discovery phase and mobile app development for insurance company UNIQA

Ukraine
Insurance

Chatbot “Vitaminise” used by the insurance company

Ukraine
Insurance

Cloud sales app for Insly

Estonia
Insurance

Updated INSIS application for Fadata

Germany
Insurance

A B2B application for Risk Point

Denmark
Insurance

Frequently asked questions

How technology helps manage risks in insurance?

Insurance business faces a number of operational, reputational, and compliance risks that threaten the functioning of any insurance company. In addition to the conventional risks caused by inadequate professional service or adverse environmental conditions, the digital age forwards IT-related threats like data breaches and other kinds of cybercrime. Given the gamut and complexity of such dangers (especially the high-tech-driven ones), it is impossible to address all the challenges without relying on the state-of-the-art means that the contemporary IT industry has in stock.

What software solutions are popular for risk management?

To effectively forestall risks and eliminate them, risk management software must have prediction capabilities, the reporting and analytics functionality, a user-friendly interface, incident navigation, and wide integration options. Many existing off-the-shelf solutions such as TimeCamp, Qualys, MasterControl Risk Analysis, Resolver, nTask, Audits.io, Reciprocity, and many others tick these boxes. However, only bespoke software built with regard to your unique needs and specific requirements can give you full value.

What is a risk management system in insurance?

In the insurance industry, risk management presupposes assessing the likelihood and financial consequences of events that may happen with the customer. The system responsible for this task must identify the premium cover and the value of insurance risk through leveraging statistical and mathematical modeling. Its other priority lies in helping clients detect risk events to timely prevent them as well as in reinforcing feedback techniques to enhance the performance and profitability of the underwriting process.

Insurance risk management software