Why Now is the Time to Invest in Insurance Software Development Services?
The boom in frontier technologies in insurance continues to grow through 2025 and beyond, with the main focus on IoT, big data, and robotics, contributing to a $3.200 billion market, according to the PWC insurance market research.
The use of AI and machine learning allows to reduce time spent on processing claims to 15 minutes instead of the regular 3-4 hours, resulting in processing costs decreased by 30%.
Field research proved that using big data in the insurance industry increases fraud detection rates by 60%.
50% of insurance customers ranked personalized digital communications as a high priority while insurers still primarily rely on telephone (51%) and traditional mail (50%) with no to limited personalization opportunities to communicate with customers.
Insurance companies using AI and big data report better customer satisfaction (84%) and customer retention improvements (70%).
Explore the applications of AI and machine learning in lead generation and management, price optimization, churn prediction, intelligent underwriting, personalized sales, and others, etc.
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Do We Share the Same Values?
- High standards of quality
- Solid tech expertise plus innovation
- End-to-end insurance app development
- Domain knowledge
- Custom-built solutions
- Reliable technology partner
- Awards and recognitions
Intelliarts cares about the quality of services and deploys the right technologies for the right business purposes. We aim to create value-driven solutions that help your business to grow even if it means challenging our partners or spending more time to find the best solution.
As an AI-focused company, we stay on top of the latest technologies and AI trends. Our data scientists and software developers love what they do so they’re constantly learning to deepen their knowledge further.
Having specialists of various expertise on board, we offer efficient and well-coordinated work in all project development phases. From consulting to building a product roadmap to insurance software implementation, our technology experts aid in creating robust AI-driven solutions that maximize efficiency.
Our vast domain expertise in the insurance sector allows Intelliarts engineers to get involved in your project faster and naturally contribute to its outcomes. Having completed projects of different levels of complexity, we know the nuances of the industry and can provide real value from the business perspective.
We build custom insurance software solutions to make sure our systems meet your specific project requirements while also helping your business grow. Our team also strives to build your technology solutions scalable and sustainable.
With Intelliarts as your software vendor, your insurance company benefits from transparency and responsiveness, flexibility in case of changing needs, and compliance with the best security and safety practices.
Top Artificial Intelligence Company in Ukraine 2023 by Clutch
Top Machine Learning Company in Ukraine 2023 by Clutch
Top BI and Big Data Company in Ukraine 2023 by Clutch
Most reviewed BI & Big Data Company in Poland by the Manifest
Top Big Data Analytics Company by GoodFirms
Top Software Development Company by GoodFirms
Top Artificial Intelligence Company by GoodFirms
Top AI Development Company 2024 by Tech Reviewer
Top Big Data Analytics Company in Ukraine by Designrush
Top IT Consulting Company by AppFutura
Top Software Development Company by SuperbCompanies
Top Artificial Intelligence Company in Ukraine 2023 by Clutch
Top Machine Learning Company in Ukraine 2023 by Clutch
Top BI and Big Data Company in Ukraine 2023 by Clutch
Most reviewed BI & Big Data Company in Poland by the Manifest
Top Big Data Analytics Company by GoodFirms
Top Software Development Company by GoodFirms
Top Artificial Intelligence Company by GoodFirms
Top AI Development Company 2024 by Tech Reviewer
Top Big Data Analytics Company in Ukraine by Designrush
Top IT Consulting Company by AppFutura
Top Software Development Company by SuperbCompanies
Contact us
Ready to boost your efficiency and improve customer satisfaction? Under the guidance of Intelliarts specialists, create innovative insurance software solutions and make advanced technologies a growth driver.
Share your business challenge — and we’ll get back to you with an efficient solution.
FAQ
The insurance software development process doesn’t really differ from the standard software development life cycle. Its main steps include discovery, design, development, testing and quality assurance, deployment, and maintenance. AI-based software also has stages of data collection and preparation along with modeling before implementation.
It largely depends on the scale and scope of the project, as well as the budget involved. On average, a data project takes from 3 to 6 months, plus you’ll need extra 4-6 months for insurance app development. Make it 9+ months for a more complicated enterprise-level project.
To choose the right software developers for insurance, look at the next factors: technology expertise and domain knowledge; portfolio; partner communication style; recommendations and customer feedback; and company culture. You can add any other important criteria to this list to make sure the service provider is a total match for your project.
