Insurance Software Development Company

Custom Insurance Software Development Solutions

Digital transformation is no stranger to the insurance industry.  BairesDev’s Top 1% of Tech Talent will simplify your workflow and transform your company into an InsurTech enterprise by implementing custom insurance software solutions specifically designed to meet your business goals. 

Our insurance developers will guide the digital transformation of your organization from start to end, helping you transform your ideas into reality. We will define, develop, implement, and provide support for the best software solution for your business.  Driving profits, reducing operational costs, and improving your customer relations.

Insurance Software Development Company 1

InsurTech Solutions

What technologies do insurance companies use?

Custom Application Development

As one of the leading insurance software companies in the Americas, we offer world-class custom software development for insurance companies. We are experts in manufacturing tailored-fit technology solutions that help our clients achieve their goals. Our full-cycle insurance software development applications follow the most strict quality standards in the industry to provide feature-rich and innovative end products.

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CRM/ERP Platforms

Automate daily tasks within your workflow and maximize efficiency with a custom-built CRM or ERP platform. We can design a brand new insurance software development management solution or modify your current application, all in favor of developing the best system for your specific needs. Our top developers can also create unique modules designed to drive lead generation, manage teams, reveal customer insights, and integrate your IT infrastructure with other third-party applications.

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Adaptative Quoting Algorithms

Insurance is a complex field depending on many variables—which is why it is necessary to count on a powerful quoting system. We design adaptive algorithms powered by artificial intelligence and data science to create effective and reliable quoting software solutions. This way, you can provide customized quotes for your clients while taking risk assessment, statistical data, policies, and premium calculations into account.

3

Claims Management Software

Start making data-driven decisions with a custom claim management software built by the Top 1% of Tech Talent. Manage claims the smart way by using specialized software with high-end data collection, authentication protocols, and submission processes to carriers. Scale your business by implementing cutting-edge technology into your current claims workflow and related policies, covering every step from case generation, to administration, to compensation.

4

Policy Compliance Software

We develop custom insurance software development programs using smart engines to regulate, automate, and streamline policy compliance processes. Our top-of-the-line modules document data trails and categorize client complaints to augment the work of your insurance team. This way, your company can prompt actionable protocols while relying on accurate case reports and smart documenting software that automatically audits each case.

5

Risk Analysis Algorithms

Having access to a reliable Enterprise Risk Management (ERM) system is a must for any company competing in the insurance industry. Our custom-built ERM systems are capable of tracking Key Risk Indicators (KRI) in real-time and keep your business on top of preventable situations. Using Artificial Intelligence, Machine Learning, and innovative algorithms, our developers will give you the tools you need to make data-driven decisions.

6

Mobile and Website Development

No insurance company can venture into InsurTech without proper mobile and web applications. We offer strategy, design, and advanced technology crafting skills for insurance companies looking to take a big step into their digital transformations. Our mobile and web applications are developed to last. By following agile methodologies and developing software under strict quality assurance standards, we deliver engaging products that enhance the user experience of your customers.

7

Data Science and Analytics

We say it quite often because it’s true: being able to make data-driven decisions is a key element of success in insurance software development. By partnering with us, you will have access to our top-performing data analytics team, who will develop business intelligence solutions that capitalize on all the information gathered by your company. We work with Big Data principles to reveal hidden patterns in structured and unstructured data, solving business problems in innovative and highly-efficient ways.

8

Financial Software

Streamline your finances with an all-in-one financial software solution. We will develop custom financial applications to unify the workflow of your company’s accounting, portfolio management, financial planning, and tax departments.  Just like all of our services, we follow every cybersecurity standard to keep all sensitive information safe at all times and in every device.

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Software used by Health Insurance Companies

One of the most sensitive fields in the insurance field involves healthcare providers. That’s because of the delicate nature of the insurance’s subject—human life. That’s why insurance organizations that offer health coverage aim to have the best digital solutions.

Thus, health insurance companies leverage insurance software tools to eliminate manual tasks and manage operational tasks more effectively. These  platforms automate processes that improve operational efficiency and allow organizations to keep up to date with the ongoing requirements of the industry. 

A few common examples of health insurance applications are: 

  • Insurance workflow automation software
  • Billing software 
  • Policy administration
  • Customer relationship management software (CRM)
  • Electronic data interchange solutions (EDI)

Having these solutions in place allows health insurance companies to better handle insurance policies, coverage, and potential issues, just to name a few tasks. As a result, your company can drive innovation and swiftly adapt to regulatory changes. 

Need an Insurance Software Solution with further customization?

The solutions listed above are our core services regarding insurance software development services. However, it would be impractical to fully list all of the custom software services we are able to provide. Unlike other insurance software companies, we have a Dedicated Team ready to help you right away, regardless of your project’s size or requirements.

The Outcomes of Insurance Software Development

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    Faster Claims Settlement
    Having technology and top developers by your side immediately translate into faster and more accurate decision making, allowing you to quickly settle claims and related processes.
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    Enhanced Customer Experience
    Delight your customers with engaging and predictive tech-driven experiences in your website or mobile application.
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    Dynamic Policy Pricing
    Offer personalized coverage packages based on the behavior and insights from your customers. Expect reduced loss ratio, increased customer retention, and fewer acquisition costs.
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    Reduced Customer Churn
    Use predictive analytics to help customers upgrade or renew their current policy plans. Analyze massive amounts of historical data and reveal key insights that power your business strategy.
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    Automatic Fraud Detection
    A fraud detection algorithm is always on the lookout for suspicious cases or user behavior. Automatically combat fraudulent claims and reduce the cost of identification and handling.
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    Mitigate Litigation Risk
    Use a custom algorithm to accurately predict the probability of a claim leading to litigation. Get early risk alerts for your team and prepare strategies that avoid the high cost of litigation.

How is A.I. used in insurance?

Insurance Software Development Company 2

Artificial intelligence helps anticipate trends and demands through algorithms that analyze data and locate potential risks. So, given that the insurance industry constantly deals with delicate issues at high levels of uncertainty, AI and machine learning can provide valuable insights to better meet those challenges. 

For instance, an Enterprise Risk Management (ERM) system can keep track of KPIs in real time through AI to make smart and data-driven decisions. Through a custom ERM tool, an organization can continuously monitor data to assess risk and stay ahead of issues which otherwise can go unnoticed. 

BairesDev is capable of developing custom AI-driven algorithms and data science tools to create efficient insurance software solutions. Our seasoned engineers are ready to start working on your project regardless of your demands or specific requirements. 

Blockchain

Our Blockchain services will transform your company into a truly InsurTech business. Blockchain’s distributed ledger significantly reduces risk, improves traceability, and maximizes security. This is a whole new level of data safety and monetary interchange.

Artificial Intelligence

Using Artificial Intelligence and Machine Learning will quickly reveal customer and market insights invisible to the human eye. Get ahead of trends by having an AI algorithm constantly analyzing data and showing risk and new business opportunities.

Internet of Things

IoT applications are ideal for integrating all of your systems and workflows into a streamlined process. Augment the work of your team by facilitating device connectivity and information sharing across all devices.

Big Data

As your client base continues to grow, data can easily get out of hand. Under a Big Data approach, we will design powerful data strategies so your company can make decisions based on statistics and predictive analytics.

Scale your project with the Top 1% of Tech Talent

BairesDev works with the Top 1% of Tech Talent to provide the highest quality software services. With our full-cycle insurance software development services, you will be able to quickly create high-quality and cost-efficient solutions.

We take care of every stage in the development process and carry out any other services your company may need. Our goal is to help your company achieve its goals and use technology to gain a competitive advantage. 

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