This list encompasses leading companies around the world across a variety of service lines and industries.

About the Criteria

The Clutch 1000 is the firm’s most exclusive award, representing only the top 1% of companies listed on the site.

To determine which companies are included in the Clutch 1000, Clutch analyzes each company across four criteria:

• Recency, number, and quality of Clutch-verified reviews published to your company profile
• Types of clients you work with
• Services you offer and your experience providing those services
• Brand reputation and visibility in your target market

“Each year, our company takes the time to highlight the top tier industry leaders in the global B2B market,” said Clutch Founder Mike Beares. “With an impressive background of projects, responsive customer service, and superior skillsets in their fields, these companies have proven time and again that they’re the best choice when selecting a B2B provider.”

Intellectsoft Is Proven to Be a Reliable Digital Transformation Partner

We are proud to be recognized among the TOP 1000 global service providers. And also to hold 27th place in this listing.

Intellectsoft has gained a reliable long-term partner in mobile app and software development, specifically in long-term projects.

Here are some of the latest clients’ quotes:

“Though the project is still ongoing, internal stakeholders are pleased with Intellectsoft’s progress so far, noting their attentiveness, reliability, and professionalism,” – CEO, Mi Rialiti.

“Intellectsoft treated our project as if it was the only one they were working on,” – Co-Founder, IT Services Company.

“We explained our requirements, and then they rapidly provided a solution with wireframes for us to discuss and refine,” — Senior Service Engineer, Utility Company.

Our efforts are regularly recognized by Clutch and similar platforms, as well as the industry’s top publications. We are honored to be recognized as one of Clutch’s top global software and app development providers due to our longstanding presence in the industry, distinguished reputation among our clients, and dedication to meet our clients’ every need.

See our complete profile on Clutch.

The post Intellectsoft Hits Clutch’s Most Exclusive Award: Top 1000 Service Providers for 2020 appeared first on Intellectsoft Blog.

The United States is the world’s biggest insurance market showing growth during 2018, 2019, and 2020. The robust growth is also expected to happen in developing countries.

What Is Operational Excellence in Insurance?

The Smartsheet.com experts defined operational excellence as “a framework for businesses to focus on growth and execute their strategy better than their competitors.”

Companies pursuing operational excellence led by the desire for continuous improvement adopt a mindset of problem-solving, teamwork, and top-line growth, allowing them to create more value for customers.

How Does It Work?

Operational excellence can be best described as a mindset that embraces certain principles and methods to create significant improvement within a working environment and corporation in general.

It is a ground for business focused on growth and can be reached only when every organization member works to maximize customers’ value. Consequently, OE is a path for achieving stable growth.

What Is Cost Efficiency in Insurance?

Cost efficiency is the act of saving money by making a product or performing an activity better. Since the insurance industry is mature and highly competitive, cost efficiency may be the main profitability driver.

Insurance Cost Efficiency Strategies

Kepner-Tregoe.com defines 6 main strategies to improve cost efficiency for increasing operational excellence:

1. Improving Business Processes
2. Shutdown, Turns, and Shutdown (STO)
3. Supply Chain Management
4. Security Efficiency
5. Corrective and Preventive Action Management (CAPA)
6. Quality Improvement

These are effective methods for improving operational efficiency. The strategies can reduce operating costs while increasing productivity by allowing to reallocate the resources strategically. Moreover, Kepner-Tregoe cost reduction strategies provide additional benefits that impact the entire business by eliminating waste, speeding up processes, and using resources efficiently.

5 Ways to Achieve Operational Excellence and Cost Efficiency for Insurance Organizations in 2021

1. Celebrate Success, Incentivize Good Performance

The key point of this tip is to build support, top-down and bottom-up. The strategic priorities of many successful companies are to have a culture of operational excellence and cost-efficiency. It gives a huge impact and effective impulse for keeping the organization prosper. No matter the dimension and the purpose of your organization, ensure operational excellence is a number one priority guided by the management team.

Moreover, be sure to award employees for good performance. At the end of the year, at Foundrymag, they offer awards for the best workers alongside the President’s Award for Excellence for the best example of optimum performance.

Eric Larson, a company’s head of a department responsible for developing a culture of operational excellence and improving efficiencies, says that maintaining and improving a dashboard of key metrics for each team and senior management has given him insight into best practices to promote efficiencies and ensure that capital expenditures improve technical effectiveness.

2. Develop Appropriate Metrics

One of the most important aspects of operational excellence is how you measure success. Deciding on what metrics to use is crucial for every business, and insurance is not the exception. There are plenty of metrics to track the OE success, and for insurance, we suggest the following.

1. Percentage Pending
2. Bind Rate
3. Number of Referrals
4. Contract Rate
5. Quota & Quote Rate
6. Policies In-Force per Agent
7. Retention Rate
8. Sales Growth Rate

3. Network for Improvements

Make sure you have an efficient system to support agents and departments that might need back-up. Find ways to provide the newbies with the assistance of experienced workers. This can be done in both formal and informal ways.

Again, Foundry Mag specialists have elaborated the beta-version of a program named OPERA (Operational Expert Resource Application), whose goal is to help the business solve operational issues. This app helps them connect their North American workers with foreign employees to find organizational and other kinds of issues.

4. Respect Every Individual

Every insurance company member is a value chain that plays a significant role in an organization’s welfare. Everyone has dignity and potential, so each employee deserves to be respected. It would help if you manifested this respect by involving the employees in any improvements in their department. Such an approach would help all team members feel more empowered, appreciated, and valuable. Remember that successful leaders always practice humility.

5. Reach for Perfection

This step is met with resistance by people who claim that perfection is impossible. Even though it may be truly impossible, nobody says you still can’t try to reach for it. Setting the high bar, you make up a different mindset in your organization. Facing a problem, try to look for long-term solutions, and always simplify the process without harming the outcome’s quality.

In a Nutshell

The insurance business is a well-established business in the USA that performs as its biggest insurance market. In this article, we’ve discussed the modern state of the insurance industry, operational excellence and cost-efficiency in insurance, and where to find custom insurance software development services.

At Intellectsoft, we develop custom solutions to help insurance companies reach their goals. Are you and your organization looking for improvements? Talk to our experts and find out more about the topic and how your business can start benefiting from it today!

The post Next Generation of Operational Excellence And Cost Efficiency for Insurers [2021 Insights] appeared first on Intellectsoft Blog.

The process of obtaining a quote is significantly simplified these days. Take a look at a few years ago when you had to call an insurance agent and give them all the details about an event and fill out the lengthy questionnaire in person. Many companies now offer you an online quote in no time. All you need to install a special app and have all the most profitable quotes on your screen.

Industry experts distinguished two key features of any health insurance quoting software:

• For customers. Delivering quotes containing important information before requesting personal data.
• For agents. Constantly increasing the number of visitors converted into leads.

Best Quoting Software for Insurance Companies

So as you already got, the process of insurance quoting is based on quotes. Let’s start discussing its pros and cons by clarifying one simple question. What is the use of insurance quoting software? The answer is pretty simple.

Thanks to the advent of the insurance quoting software the potential clients can compare the quotes offered by various companies and choose the one that meets their needs. Insurance agents get commissions, respectively. Companies choose to install an efficient quoting app, as it helps them attract new users and retain the old ones.

Pros and Cons in Insurance Quoting Software

Pros

It’s Paperless

All administration can be done within the system, eliminating the need for paperwork. The system can be accessed from multiple locations. It stores and sorts out all the client data as well as documents attached.

What is more, there is no need for separate document storage as the papers can be emailed automatically or manually after you have read them.

Scalable Flexibility

The principle of flexibility involves that the system is supposed to work for YOUR business. It can be customized to meet the needs of any client. The system is about revolving around your business, not vise versa.

Automation

With insurance software implementation, every process can be automatized. There are many examples of successful businesses that have made this step, but there are also those who’d prefer to make the automatization only partly.

Automation allows the company’s clients to perform all the routine without contacting the insurance workers. Customer experience is another topic for discussion in this case.

By the way, if you want to preserve the live approach, the software systems can also help generate the paperwork, quote, and process a quote right through to and including renewal.

Compliance

The compliance module allows you to track the activity of each broker on the market. You can create a customer compliance checklist to check if everything progresses at every stage. The system stores all the sent or received documents. An audit log and case history are securely stored in the database giving access to only a few people to track the changes put into it.

High Integration

The software can be successfully integrated with your website, application, and any kind of other third-party systems. It also saves your money for the absence of need to have multiple separate systems and the staff to ensure its work.

Customer Experience

You may wonder what kind of customer experience we’re talking about but let us explain a thing. One of the primary purposes of quoting software for insurance was eliminating the amount of paperwork and face-to-face contact.

Here you can learn more about this benefit of insurance quoting software development. However, some clients prefer to automate the process, only partly allowing customers to enjoy the process of live communication. Your customer service team will indeed feel more eager to guide 15 clients rather than 40.

Cons

It’s a One-Part Connection

One of the main benefits of quoting software for insurance can also be considered the major downside. Yet everything can be done automatically without a face-to-face meeting.

There is no one to answer your questions at that very moment. You won’t get the inside tips on saving money and how to conclude the most profitable agreement since you have no idea how the business works from the inside.

Risk of Fraud

Cybercriminals may hide behind the image quote insurance site to collect your personal information. Besides, some companies lack stability and experience in the insurance market and don’t stay there on a long-term basis. 

Quoting Software for Insurance of Various Kinds

Life Insurance Quoting Software

Life insurance’s positive aspects are undeniable( including tax benefit, death benefit, aids in financial planning, etc.).

What about life insurance quoting software, Compulife is a famous insurance software supplier that has been operating on the market since 1987.

Health Insurance Quoting Software

The National Center for Health Statistics’ data has shared that 86.7% of the USA in the age range from 18 to 64 years old had insurance in 2018. The other 13.3% have no personal policies, and so can become potential customers for your team.

Still, the number of Americans who have life insurance superiors, for instance, the number of Indian citizens who have insured their health. Medicaid and Medicare are, probably, the USA’s most known life insurance companies providing clients with the low-income rate and the aged citizens. The two companies also operate on health insurance software.

One of the most common and simple ways of developing a customer health insurance software is cooperating with a team of programmers specializing in the niche. Choosing a team with the relevant skills and experience is the main factor that would influence the development process’s success.

Auto Insurance Quoting Software

Customers rely on auto insurance to help them protect their family’s future by securing the best home and auto insurance coverage for their risks. If you crack an insured car and get it to the mechanics, all the repair expenses will be covered by the insurance company.

A vivid example of Auto Insurance Quoting software is TurboRater. Developed to help the agencies save money by reducing the amount of time spent on running numbers for various insurance quotes.

They promise that your agency can enjoy a smoother workflow by creating standardized operating practices using TurboRater auto insurance software. The main goal here is to minimize any possible errors and reduce the time needed for the new employees onboarding.

To Sum Up

According to multiple sources, insurance quoting is an amount of money that an insurance company calculates as the cost of providing insurance for something. Quotes demonstrate how much one will be paying for insurance coverage received by a company.

Intellectsoft has created impactful solutions for EY, the London Stock Exchange, and EuroAccident. Explore what we offer for the insurance industry.

The post What Is Insurance Quoting Software? appeared first on Intellectsoft Blog.

The number of companies that offer software development services is rather big. So, it is hard to make the right decision and choose a reliable insurtech development vendor. But there is a list of criteria that you should consider. First, decide whether you need to create your in-house team of developers or use outsourcing.

Insurtech Companies: Outsourcing or In-House Team?

There are two major hiring options: building your software development department or use outsourcing. The first option is relevant for enterprises that have enough resources to open a new department. It can be time-consuming, but it is worth the effort, especially if you need a team for several projects. Thus, you have to give your HR team all the necessary instructions and start searching for the right employees who have vast experience in insurance software development.

The second option might suit small and middle-size companies. Outsourcing means making a contract with an insurtech software company for a stated period to create or implement existing solutions into your companies system. It is time- and cost-effective, as there is no need to spend time interviewing every team member. You can hire the whole team at once. But it should be a reliable, experienced team that specializes in insurance software development.

Insurtech Software Vendors Have to Suit Certain Criteria

Insurtech development vendor should suit specific criteria, so you know you are selecting a trustworthy partner. Consider the following points:

• Insurtech & Fintech Projects Portfolio: make sure the company has previously worked on the projects for insurance/financial organizations.
• Security & Reliability: insurtech works with highly tentative data, so it is essential that the company you are about to hire works according to the standard protocols and guarantees a high level of security.
• Data Analytics Expertise: new technologies will help you gather more data that can be used for further development and growth. Thus there should be an expert who can work with volumes of information, analyze it, and use it for the benefits of your company.

• Metrics & Standards: check whether the company is certified and works according to the global software development standards (EEE 982, IEEE 1091, ISO/IEC 9126).
• Long-Term Opportunities: you will need a company for a long-term partnership, as there will be a need for further enhancements and optimization of the software.

Guidelines to Choose the Best Insurance Software Company

Insurtech development vendor cannot be chosen randomly, as this company will be your partner for some time or regularly. It should be a company with all the necessary resources, years of experience, and the one you can trust. So, what should you do first?

1. Create Clear Requirements

Engage your board in the process and set up the goals you want to achieve. Your staff will help you not to forget about important issues that need to be fixed or optimized.

2. Set Up the Budget

Take into account all the possible expenses, including further updates and scaling. You have to know how much you can spend on the project.

3. List Vendors

Provide thorough research and create a list of insurance software companies that suit your needs. Use the resources available on the internet and ask your partners/colleagues for references.

4. Evaluate Vendors

Use the list of criteria stated above to evaluate the software providers and choose the ones that perfectly suit your needs.

5. Meet with Partners-to-Be

Once you have the list of top vendors, you can arrange meetings with them to find out more details about every insurtech company. Discuss all the requirements, check how they work, and ask for references to contact their previous customers.

When you have all the necessary information, you can make up your mind and choose the right partner for cooperation. It will be a long-term relationship, so it should be a reliable company that guarantees successful solutions implementation and offers post-project support. Also, make sure the company is capable of operating amidst global lockdown due to the COVID-19 pandemic.

Top Insurtech Companies 2020

What are the best insurtech companies in 2020? Here is the list of the leaders.

1. Spot
2. Intellectsoft
3. Relay
4. Halos
5. Zego
6. Flock
7. Wrisk
8. Sorcero
9. Attestiv
10. Zesty AI

How to Choose a Reliable Insurtech Software Company

Intellectsoft is a team of professional developers who help businesses in different industries to empower their companies with the latest tech tools and solutions. If you want to survive the competition and enhance your services, our experts are ready to support and guide you.

Contact our team and learn how you can benefit from the available technologies to increase user experience and revenue. 

The post How to Find a Reliable Insurtech Development Vendor with Minimum Risk appeared first on Intellectsoft Blog.

Apple Airtags

In short, the new device is going to be a tracking tile, much like a Tile Tracker, but using U1 (ultra-wideband) chip technology to provide ultimate accuracy. In contrast to common Bluetooth trackers, the U1 chip will make it possible to pinpoint the exact location of an AirTag.

The new product will be deeply integrated with Apple devices, making it easy to track lost items on your iPhone or iPad. All you will need to do is to attach the tile tracker to your keys, passport, bag, or even a child’s toy – and you will be able to locate the object accurately.

Possible Design Concept Leaked

The latest concept was revealed by Front Page Tech, describing a product as a tiny, circular white tag. Some say an Apple logo will be on the front, while others believe it will be a blank white front and a silver metal back with a logo. Plus, the new trackers are ‘just a little bit bigger than a bottle cap.’

Despite not having a lot of info about the possible design, we may know two things for sure. One: It is Apple, so the design will probably be minimalistic and extraordinary. Two: Apple does everything to stand out and differentiate themselves from square-shaped Tile trackers.

Conspicuous Features the Tracker May Include

Not only has Apple been working on making tracking as accurate as possible with UWB technology, but it is also believed to be integrating AR features into the new tracking tag. The rumor has it, and AR technology may appear as an air balloon floating above the pinpoint location of an item you attach to a new tag.

How Will Apple Airtags Work?

The new tile tracker will more likely be easily paired with your iPhone by just keeping it close to your device, the way AirPods are connected. They won’t need an Internet connection, while all the location data will be transmitted with UWB technology’s help. In addition to this, as this new tracker device will be completely integrated with iOS, one will enjoy the opportunity to use and control an Airtag with Find My app.

How Will Airtags Work With Tracking Items?

As expected, a new tile tracker will be easily attached to an item you want to track, whether it’s a purse, a wallet, or keys. What is more, since the AirTag is connected to your iPhone device, you will receive alerts when your phone gets too far from a tracker. For example, if you have attached a tracking tile to a wallet and say, left it on the table in a cafe, and start walking away from it (having your phone with you), you’ll get an instant notification on your phone.

What Will Happen if I Lose an Item that Has an Airtags?

In case you lose an item with a tag attached to it, you’ll instantly receive an alert on your Apple device. By accessing a Find My app, you will then be able to click on the button so that a tile tracker will start producing a loud sound. If a lost item isn’t too far away, you’ll be able to locate it by just hearing the sound.

Will Airtags Still Work if My Item Is Far Away?

They surely will. If an item is far away and can’t be pinpointed, you may switch it into Lost Mode. This way, any other iPhone owner walking by your lost item will be able to see your contact info and reach you by texting or calling to inform you about an item they’ve come across.

Will I Be Able to Set Boundaries for AirTags?

Certainly yes, as no one would like to be alerted every single time they go to another room in a house. You can select individual Safe Locations settings so that you’ll get notifications only if a tile tracker isn’t located within the selected safe area.

Will There Be Sounds?

The tag itself will probably have sounds, so it will be useful if a tag isn’t located too far away. What is more, it’s likely that the sounds will be transmitted through Find My app. For instance, when you get closer to the item, you’ll receive a particular encouraging sound, or vice versa, if you drift away from a tile, you’ll get a more depressing alert.

Will There Be a Replaceable Battery?

The new device is expected to have a replaceable coin-shaped battery, the same as Tile Pro has. You will be able to unscrew the back of the tracker and take out the battery to swap it for the new one. Such a battery isn’t rechargeable, so you’ll probably need to change it annually.

AirTags Rumor List

Let’s sum up what we know for sure –  Apple is working on a cutting-edge tile tracker. It’s likely to be awesome as any Apple device. However, as usual, all the info we’ve known so far is just the tip of the iceberg. So, here are the top 5 rumors you should know about.

Rumor: Battery

Japanese website Mac Otakara leaked info that Apple tile trackers may be charged with the magnetic wireless technology similar to Apple Watch. This seems a bit controversial to other rumors saying that the battery won’t be rechargeable, so let’s hope we’ll soon find out the truth.

Rumor: Waterproof

The same Japanese resource Mac Otakara claims that there’s some evidence to say an Apple tile tracker will be waterproof. If it turns out to be real, this is definitely a way to win over Tile Pro.

Rumor: Setup Process

According to the leaked screenshots, and Apple tile tracker will be easily integrated with the new version of Find My app. To ‘Set Up New Tag,’ you’ll just need to bring it close to your iPhone, similar to how you connect AirPods. Then within a second, you’ll be able to ‘Add’ a new item to your Find My app and track its location through the application.

Rumor: Tag Design

Since June 2019, tons of rumors started circulating regarding the possible Apple innovation – a tile tracker. The question that instantly arose was, ‘What will the new device look like?’ Gathering all the rumors we’ve heard so far, we are really likely to see a revolutioning tile tracker that will be circle-shaped rather than square.

Rumor: What The Tag Can Track

So in case a new tile tracker will have a replaceable battery, you will be able to clip them onto several things: from your car keys to your passport, from your kid’s backpack to their favorite toy. As it is going to be integrated with your Apple devices, you will be able to monitor an item’s location via Find My app.

Apple AirTags Price and Release Date

So as we’ve mostly heard everything on the grapevine regarding Apple’s new tile tracker, there’s still no exact release date nor the price. However, the rates of similar products, like Tile Pro, range from $25 to $35. We hope Apple will find a way to make their product a bit more affordable, especially in case a person would like to purchase several tags.

As to the release date, according to the latest info, Apple tile trackers may have been launched by the end of 2020. Probably, they’ll shed some light on AirTags alongside the release of the iPhone 12 in October.

The post Apple’s Latest Innovation: What Are Airtags? appeared first on Intellectsoft Blog.

Apple

iOS 14 Release Date

On June 22, 2020, iOS 14 was announced at WWDC 2020, but Apple representatives didn’t mention when it would officially launch, saying only that it would be this fall.

While we can’t predict the date for sure, we’re witnessing that iOS 14 reimagines the most iconic parts of the experience to be even more helpful and personal. This means you will be able to do more with your iPhones than ever before.

Here’s our comprehensive overview of upcoming enhancements and key features of iOS 14.

iOS 14 Features: App Clips

As creators describe the app experience themselves — an App Clip “is associated with a particular product or business, and loads within seconds to complete a specific task.”

The tasks range from buying a coffee to renting a car. To activate the App Clips customers is suggested to use one of the following ways:

1. By scanning a new
2. Through NFC tags and QR codes
3. Through shared in Messages or from Safari

Messenger: Quicker, Easier Conversations

Besides new Memoji in Messenger, there are a few more essential features to look at in upcoming updates:

• Pin important conversations to the top of the list to make sure you’re always staying connected with essential people

Apple

• Easily keep up with lively group threads through mentions and inline replies
• Conversation customization through adding a group image or emoji

Maps: New Environmentally Friendly Ways to Go

Maps present upgraded and easy ways to explore new places in your area. It becomes easier than ever to navigate and explore with new:

• Cycling directions
• Electric vehicle routing
• Curated Guides

Cycling directions count the route elevations, street traffic, and even stairs in your way. Electric vehicle routing maps charging stops and even types. Guides provide a list of interesting places to visit in your city.

Apple

Guides are a great way to discover hot new restaurants, find popular attractions, and explore new recommendations from respected brands, including AllTrails, Complex, The Infatuation, Time Out Group, and The Washington Post, among others.

Privacy: More Transparency and Control

All apps will now be required to obtain user permission before tracking.

Later this year, App Store product pages will feature summaries of developers’ self-reported privacy practices, displayed in a simple, easy-to-understand format.

Apple

Apple’s Exposure Notification System

In iOS 13.5, Apple has introduced an exposure notification API, which lets apps from public health authorities and governments worldwide help people figure out if they’ve been exposed to COVID-19. Moreover, it includes guides on how to minimize exposure.

Exposure notification has a self-explanatory name, and in a nutshell, the feature is designed to send you a notification if you’ve been in proximity to a person who is diagnosed with COVID-19.

Exposure Notification works on devices running both iOS 13 and iOS 14.

To access a list of all features, go here.

iOS 14 Supported Devices

iOS 14 is compatible with these devices:

• iPhone 11
• iPhone 11 Pro
• iPhone 11 Pro Max
• iPhone XS
• iPhone XS Max
• iPhone XR
• iPhone X
• iPhone 8
• iPhone 8 Plus
• iPhone 7
• iPhone 7 Plus
• iPhone 6s
• iPhone 6s Plus
• iPhone SE (1st generation)
• iPhone SE (2nd generation)
• iPod touch (7th generation)

What’s Next?

The developer preview of iOS 14 is available to Apple Developer Program members at developer.apple.com starting today, and a public beta will be available to iOS users next month at beta.apple.com.

New software features will be available this fall as a free software update for iPhone 6s and later. Note that features are subject to change. Some features may not be available in all regions or all languages.

We, at Intellectsoft, empower companies and their workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

_________________________________________________________________________________________

F.A.Q.

When Is iOS 14 Coming Out?

While no one knows the exact date of the iOS 14 official launch, some predict it to be this autumn. iOS 14 was introduced at WWDC 2020 on June 22, 2020.

Will iPhone 6s Get iOS 14?

Yes, it will. iPhone 6s is in a list of devices iOS 14 is compatible with.

The post iOS 14 Preview: Key Features, Supported Devices, Release Date appeared first on Intellectsoft Blog.

Digital technologies allow people to get access to more services online, and insurance is now among them. Insurance software solutions driven by the latest tech tools create a safer and more efficient environment for the brokers/agencies and their customers to interact.

In 2019, the estimation of global Insurance Rating Software market size was US$ 444 million, and it is expected to reach US$ 831.4 million by the end of 2026, with a CAGR of 9.3% during the next five years (from 2021 to 2026). Given the current crisis, no one can know for sure.

The worldwide pandemic influences the insurance industry in multiple ways, from employee and business issues to client services and financial promises. Intellectsoft is a team of experts who help companies with the implementation of insurance industry software trends of 2020.

These innovative solutions are vital for vendors if they want to survive and keep their business running in times like this. Get more detailed information from our experts and get useful advice on strategy development and its practical usage to enhance service delivery, customer loyalty, and gain profit.

Modern Insurance Software Trends Driven by Digital Transformation

Digital transformation is a process that started because of new tech tools, including AI/ML, Blockchain, IoT, Cloud Computing, VR and AR, etc. These are powerful, innovative technologies that help companies in various industries to enhance their services, facilitate and automate operations, and create a better experience for employees and customers.

Modern insurance software trends change the distribution of the services and help companies to grow in a number of ways. The top trends include:

1. Artificial Intelligence/Machine Learning 

Artificial Intelligence (AI) and Machine Learning (ML) are powerful tools for the insurance industry, the implementation of which can enhance services, make them faster, and create a better customer experience.

Higher productivity of the services will result in reduced costs and increased revenue for the companies. These tech tools can tackle challenges connected with the insurance value chain, including:

• underwriting,
• product pricing,
• fraud detection,
• loss prevention,
• claims handling,
• customer experience,
• sales.

ML is helpful with damage assessment and prediction of the repair costs based on the available data from similar cases. Global connectivity of people and devices, better computing power, big data technologies, memory capabilities are the reasons behind machines running complex algorithms faster.

Some of the companies have already experienced the advantages of AI. For example, GetSafe, InsurTech startup, uses AI to advise customers on which insurance policies to purchase by collecting relevant information. They have also developed a mobile app for the customers to manage all their insurance policies in one place.

Another example of AI usage are chatbots that serve as virtual assistants of insurers for the customers (startups like Lincoln Financial, Geico, Lemonade).

2. IoT (Internet of Things)

Internet of Things or wearables is another tech trend in the insurance industry as these devices can transfer huge volumes of data. With real-time IoT data, insurers can provide real-time advice for drivers, on-the-spot health advice, immediate accident assistance, and even trigger claim payments.

In addition, IoT will give companies a chance to rely on statistics when assessing risk and model potential risks. IoT also allows companies to have more frequent interaction with their customers and offer new services based on collected data that can result in stronger relationships and personalized offers.

One of the examples of IoT-based services is Erie Insurance company that uses drones for property inspections in the vent of a damage claim. It gives them a chance to get a better picture that results in better damage assessment. Also, there is no need for employees to travel to the location.

3. Blockchain 

One of the main benefits of blockchain technology in the insurance field is creating a secure register of information.

For instance, customers who want to use online insurance services are required to provide tentative data. Blockchain solutions will help the insurers:

• to keep customers’ data protected,
• to prevent unauthorized modifications, data addition, or removal.

Customer privacy is a priority for companies who want to win loyalty and establish long-term relationships. Greater transparency for customers may boost their trust.

Blockchain is a secure, reliable, and fast enabler to automate processes (e.g., smart contracts), offer microinsurance products and operate a decentralized organization. Services powered with blockchain solutions add quality value and result in revenue growth, improved customer experience, ability to offer new cost-effective products, and help IoT insurance product development.

One of the real-life examples of blockchain usage is Etherisc. The company has built a free, open-source, open-access platform for decentralized insurance. The technology is used for fraud detection, it verifies claims based on the data from multiple data resources.

4. Mobile Applications 

Mobile apps are powerful tools for any kind of business, and insurance is not an exception. It is a media for communication and interaction of the insurers with their partners and customers.

Companies can also reach new customers via apps as nowadays people will choose to download an app and check the information, rather than search for the website of the company. Insurance apps can help with the following:

1. Finding detailed information about the company and its services.
2. Checking and selecting suitable insurance packages.
3. Buying insurance packages online via an app without visiting the office.
4. Getting insurance policy costs calculated.
5. Staying in touch with the agent/broker, etc.

Mobile applications have benefits not only for the customers but also for the insurance agents. It will allow them to work with the documentation even on the move, keep records on the customers, write reports, etc.

One of the examples is Allstate Mobile, it is a car insurance application that allows customers to perform a number of operations like paying bills, submitting claims, finding an agent, etc.

5. Big Data 

Big Data comprises data storage, reporting, and analytical tools. It can provide insights into customers’ behavior and habits, allow companies to have efficient planning and reporting software.

Big Data analytics will give carriers a chance to make risk predictions based on the behavioral patterns of the customers. The implementation of technology can also result in better claim management.

It can be useful in a number of ways, for instance, car insurance companies can use Big Data analytics to create predictive modeling, identify whether the driver can be involved in the accident, and provide a personalized offer to the customer.

Insurance Software Solutions: The Best Vendors on the Market

Software insurance solutions are provided by a number of vendors who have managed to develop exclusive software for the insurers to enhance their services and customer loyalty.

The key players of the industry are:

• Vertafore

Vertafore is an insurance technology company that provides insurance agency software solutions to help them better manage their business and processes to grow revenue and be more profitable. Vertafore Agency Platform solution is one of them. It is cloud-based and designed for companies of all sizes and offers accounting, customer management, document management, etc.

• EXLynx 

EZlynx provides cloud-based insurance agency management software that streamlines all agency workflows. The software provides back-office management features, CRM, and marketing automation tools that help agents to improve and strengthen relationships with their customers.

• HawkSoft 

HawkSoft is a company that specializes in management systems for agencies that want to power their insurance business with effective workflows and enhance the experience for staff and policyholders.

• Sapiens

Sapiens is one of the leading global providers of software solutions for the insurance industry. Their services are aimed to modernize and automate insurance carriers’ processes, create greater organizational efficiencies, reduce costs, and provide a better experience for the end-users.

• Applied Systems

Applied Systems offers a number of insurance technology and software products for independent agencies. This software helps the agencies to automate operations and enhance management processes.

Insurance Software Products by Type

Insurance software products are available in two types:

• Cloud-based.
• On-Premise.

Cloud-based insurance software solutions are only entering the market but have a lot to offer for the insurers. These solutions might help the companies to move their key capabilities to a cloud-based model.

The drivers of cloud computing in insurance include the ability to reduce the costs of IT operations, unify customer data, engage customers more effectively through new distribution models, handle peaks at demand more easily and at a lower cost, drive new business opportunities, better manage intermediary relationships, maximize renewals by customers, support integration of 3rd party management systems, etc.

On-premise solutions are the systems specifically developed for certain insurance companies that help them to process operations and deliver services. At times, it might be a challenge to integrate cloud-based solutions into the on-premise ones. The key players of the industry are now developing ways to make the process easier.

Insurance Brokers Software Solutions: Why Do You Need Them?

While technologies like AI/ML, Blockchain, IoT, etc. are influencing and changing the industry, the insurance brokers’ software solutions are also getting better. Independent brokers and agents need powerful tools to set them apart and stay at the top of the competition. Vendors offer solutions that enable insurance carriers to acquire new digital trends and grow a profitable business.

Software solutions for brokers are tools that facilitate daily operations, automate processes, and deliver exceptional user experience. These solutions will help brokers to sell more policies and stay connected with both carriers and customers. A proficient brokers software should help them manage administration processes, customer services, claim processes, etc. Insurance software solutions can create a personalized customer experience and thus, enhance user satisfaction.

Good software brings a number of advantages for the brokers and helps them to stay productive, build strong relationships with customers, have access to important information, and provide personalized offers to their customers.

Six Industry-Shaping Software Solutions

Quote and Risk Management

While considering insurance solutions, it’s essential to find quoting and risk assessment software as an integral part of keeping your company on the up and up.

To operate efficiently, insurers must assess and control various types of risks, such as:

• credit risks,
• market risks,
• operational risks,
• reputational risks,
• and much more, while adhering to ever-broadening regulations.

At Intellectsoft, we develop software that focuses on identifying risks with the most critical impact on customers’ business performance, developing controls to mitigate customers’ most essential risks, reporting on board-level corporate objectives with easy to use, customizable reports and dashboards, statistical data processing, and prevention actions alerts.

Customer Portals and Policy Administration

The global insurance industry is now experiencing an unprecedented opportunity for insurance carriers to transform their business and leapfrog their competition through a range of possibilities. To name a few:

• pricing flexibility,
• speed to market,
• Improved products and customer services,
• reduced indemnity payments,
• lower costs, etc.

The current worldwide situation with the COVID-19 has created the need for change: to reshape aging legacy platforms, meet complex market demands, and what is more important — more demanding clients. Lots of global insurers have customer portals to allow customers to access their policy information online.

Building personalized, connected, omnichannel digital experiences that make it easy for customers to manage and renew policies and review benefits on their own is in our culture. We can handle a growing customer base cost-effectively by creating a more valuable self-service experience. Find out more about our solutions here.

Claims, Invoicing, and Billing

To ease the customers’ lives, it’s a valuable experience to provide simple payment procedures for different structures. That’s why claiming, invoicing, and billing should improve the customer experience, allowing fast and convenient self-service.

By automating the billing process, companies can reduce administrative costs and errors, improving cash flow, and providing enterprise-wide transparency for invoicing, payments, and receivables. Some of the benefits include:

• automated calculation of adjustments for declarations,
• automated insurance invoices,
• recording of bookings, charges, taxes, etc.

Mobile Applications and Chatbots Integration

The extensive use of mobile applications and AI chatbots development are two industry-shaping forces and keys to its reinvention.

When the world paused and re-thought its usual activities to contain the spread of COVID-19, many insurers have shown great resolve. The next phase must be focused on digitalization, flexibility, and reimagining insurance for the next normal.

Mobile apps and chatbot development have taken the center of the stage by being more humane than ever. Here are a few examples of why clients should turn heads toward these two:

1. Simple drawing up of insurance acts.
2. Easy online consultation.
3. Notifications.
4. Convenient data storage.
5. Getting information quickly.
6. Determination of location.
7. Detailed and timely instructions.

Compliance Management

Compliance management in the insurance industry is the next strategic vector at the core of multiple business processes as diverse as new-product development and financial reporting.

Intellectsoft’s compliance risk assessment includes the optimization and automation of workflows for:

• Know your customer (or KYC).
• Anti-money laundering (or AML).
• Customer due diligence (or CDD).
• Audit-proof documentation.
• Integrated monitoring of customer information.
• Optical character recognition technology (or OCR).

Document and Data Management

Demand for digital interactions will spike and stay elevated, creating more and more data. In such an environment, digitally enabled information management models are proving to be effective and may be accelerating the winner-take-all trend.

This combination of Big Data opportunities, growing consumer expectations, and never-ending business transformation now more than ever, creates the opportunity to invest in proper data management solutions that enhance data integration and automation in the insurance industry.

Development of Software Solutions for the Insurance Industry

Software development companies can build customized insurance software solutions adjusted to the needs of the carriers. These solutions can cover numerous directions and address a number of issues in the field.

Health Insurance Software Solutions 

Thanks to the latest tech trends and tools, the health insurance industry can streamline the processes and enhance patient engagement.

For example, the usage of cloud computing can reduce the amount of paperwork. Mobile and web app developers start to cooperate with insurance companies in order to develop software solutions for payers. The apps can contain all the necessary information, so customers are enabled to choose insurance plans to suit their health needs.

Telehealth and remote monitoring solutions can help with patient assistance and provide real-life data for carriers to take immediate actions in case of emergencies or deliver personalized offers for the patients.

Insurance Policy Software 

Insurance policy software is a type of software that provides detailed information on existing policies.

For instance, mobile/web apps can contain this information, and customers will be able to check different plans and make their decisions. These solutions are proven to be time- and cost-effective for the parties involved in the process.

Insurance Policy Management Software

Insurance policy management software is built to support the core insurance operations in the business. These activities include underwriting, renewal, licensing, quoting, claims management, proposal generations, etc.

The solutions will facilitate the work for the employees of the company as well as enhance the services and relationships with customers.

Insurance Policy Administration Software: Get Processes Simplified 

Insurance policy management software is used to facilitate a number of core policy processes. Every company can build customized software to suit their personal needs and be able to handle such processes as quoting, rating, issuing, binding, renewals, and endorsements more effectively.

Intelligent Claims Software

Intelligent claims software is aimed to reduce the amount of time spent to handle different sorts of claims (from PPI, flight delays to mortgage misselling).

The tech tools enable the software to be scalable and flexible, so it can easily adjust to the changes in the law or procedures. It means that companies and customers will stay informed, updated, and won’t miss a thing. Although the implementation of digital technologies in the insurance industry is rather at its early stages, the results we have now are significant and change the field step by step.

Summary

Higher efficiency of the services provided by insurers will result in a number of advantages for both the companies and their customers as the user experience will become more personalized. Software solutions will facilitate the work, encourage agents to be more productive, bring companies a chance to create better new products, and increase their revenue.

The predictions for the future of the industry are impressive, and it’s high time to use the advantages of the technologies to bring services to the next level.

Intellectsoft has created impactful solutions for EY, the London Stock Exchange, and EuroAccident. Explore what we offer for the insurance industry. Talk to our experts today to  find out more about the topic and how your business or project can start benefiting from it!

The post Insurance Industry Software Trends in 2020: Defining Insurance Software Solutions appeared first on Intellectsoft Blog.

Our innovation leaders discuss how healthcare industry executives should act now to survive one of the greatest humanitarian crises of humankind and grow their businesses using emerging technologies.

The “Digital Health Strategy. Leveraging Emerging Technologies in Healthcare” tackled the use of digital technologies and ways they provide the industry to achieve better outcomes, opportunities for lower long-term healthcare costs, and a rapidly growing digital health market.

Watch The Webinar

Emerging Technologies Use Cases

None of the healthcare systems were ready for the COVID-19 pandemic. Staff shortage, the danger of getting infection right at the hospital, doctors who are getting infected too.

This is the picture and reality we were living in for a couple of months now. And during the webinar, we’ve tried to consider several the most demanding solutions of nowadays:

• Telemedicine healthcare software solutions
• Healthcare staff management solutions
• AI-based solutions for medical treatment, diagnostics, and medical predictions chatbot platform
• Digital transformation solutions for health insurance
• Mental well-being and stress-reducing apps

Talking about the ecosystem stakeholders, there were five parties of system interactions: patients, providers, payers, policymakers, and new entrants. As health care sector stakeholders prepare their roadmap for the future, they need to have a panoramic view of what’s working and what’s not, what’s redundant, and what’s hot in their circles.

Digital Health Strategy: Ecosystem Analysis & Technical Design Workshop

Throughout our experience in Intellectsoft, we have faced a bunch of challenges for the healthcare domain. We’ve successfully solved and implemented them as solutions for our clients.

Our experts kindly presented you with the product vision and technical design workshop. Among the essential goals of the workshop are:

• Define the existing and desired business processes
• Define what stakeholders want and expect from a custom solution
• Identify technical and architectural limitations
• From steps 2 and 3, develop a “shared understanding of project objectives” for all stakeholders/participants of the workshop team
• Transform business requirements to functional requirements
• Create the initial vision of the architecture of the project
• Create a Project plan/Backlog with a definition of project risks, budgeting and release strategy

Engineer Your Vision With Intellectsoft

While there is still a lot of uncertainty and challenges around the digital transformation in the Healthcare Industry, our expertise allows us to consider a variety of technologies, use cases, and solutions for a software consultancy. Intellectsoft has strong domain expertise for advising the right solutions to solve particular business challenges and avoid pitfalls while delivering and deploying them.

Find these and other answers to your questions by watching the webinar. And if you have any additional questions left, or want to discuss your next project with us, get in touch with our experts today!

The post Webinar: Digital Health Strategy. Leveraging Emerging Technologies in Healthcare 2020 [Video] appeared first on Intellectsoft Blog.

The use of digital technologies is changing the healthcare sector at an unprecedented pace. Moreover, they are providing innovative ways to achieve better healthcare outcomes, opportunities for lower long-term healthcare costs, and a rapidly growing digital health market. The latter has been poised to grow by $207.34 billion during 2020-2024, but apparently, no one can predict for sure.

The upcoming webinar “Digital Health Strategy: Leveraging Emerging Technologies in Healthcare,” offers healthcare leaders access to unique resources for accelerating the infusion of digital health in their business.

Over the course of the live 45-minute talk, executives will develop a powerful digital health blueprint for their organizations, tapping into Intellectsoft’s IT expertise and know-how of the healthcare sector.

Register Now

The webinar demystifies the use cases of emerging technologies for digital health and generates a common language for accelerated collaboration across the executive’s organizations. Participants explore a strategic overview of real-world solutions application, leaving with a strategic roadmap that ensures sustainability across all the stakeholders.

Learning outcomes include: 

• Exploring what changed for healthcare practices and operations during COVID-19 and predictions of what leaders can expect in terms of recovery;
• Discovering today’s featured examples of our clients’ technology solutions that can help participants provide better and more efficient services;
• Discussing how to evolve and adapt for the rest of 2020 and into 2021 using emerging technologies and more efficient solutions.

Meet your hosts for the webinar:

After the webinar, all participants will have a chance to discuss the topic with our experts in a Q&A session.

Click here to sign up and learn more about the webinar.

The post Webinar: Digital Health Strategy. Leveraging Emerging Technologies in Healthcare [June 4] appeared first on Intellectsoft Blog.

Platforms for watching movies and TV shows of all kinds are more favourable alternatives to regular TV nowadays. This is where subscribers watch movies whenever and wherever they want to. There are no ad breaks thus nothing is distracting you from having a good time and enjoying the movie to the full.

We have compared several video streaming platforms for different purposes and came up with the lists of our own. It makes you choose quicker the ones that suit you best.

Video Streaming Platforms Comparison: How to Choose the Right One?

There is a number of video streaming platforms so it’s hard to choose the right one at times. In this article, we compare platforms based on the price, features, advantages and disadvantages. This insight information will help you to narrow your choices.

The good news is that you don’t have to limit yourself to only one. It depends on the budget you are ready to spend. But most important, it’s a content that matters and your personal preferences. For instance, Netflix has a wide range of genres and has no particular specifications for its audience, so most people tend to use it. Also, don’t forget about security measures that help you keep personal data protected.

Check out the key features of the most popular platforms that stream videos today and add some fun to your quarantine days.

The Best Video Streaming Platforms to Watch Your Favourite TV Shows

Here are the top five picks of platforms of this category.

1. Netflix

Platforms: iOS/Android

Prices: $8.99/month

Today Netflix is one of the most popular online video streaming platforms and has over 183 million subscribers worldwide. Hit TV shows, movies, stand-ups, etc. are all available on the platform. There are available almost 3000 film titles to suit any taste.

Apart from being a distributor of movies, Netflix also succeeded in creating its own original TV shows and movies, including Black Mirror, The House of Cards, Stranger Things, etc. These are high-quality engaging products that keep millions of subscribers binge-watching. It’s ads-free and new movies are constantly added to the library. You will get push notifications about the latest arrivals, so you won’t miss new episodes of your beloved TV show.

Netflix offers three types of subscription: Basic ($8.99), Standard ($10.99), and Premium ($12.99). The Basic one allows watching at 1 screen at a time, Standard (HD) – 2 screens at a time, and Premium (Ultra HD) allows 4 devices to play a video at a time. Subscribers can create up to 5 profiles in the account not to mix up the playlist with their family or friends. The more you watch Netflix the better it understands your tastes and offers you the movies or TV shows you might like the most. In addition to this, subscribers can create their own lists of movies to keep track. Another great feature offered by Netflix is a Gift Card that can be a great present on a special occasion for your family or friends.

Links: App Store, Google Play

2. Amazon Prime Video

Platforms: iOS/Android

Prices: $12.99/month

The next in line is Amazon Prime Video video streaming platform with over 150 million subscribers. The service offers a wide range of high-quality original TV shows and movies, as well as provides content from other resources. Among thousands of titles, you can find The Marvelous Mrs Maisel, The Expanse, The Grand Tour, etc. If you have Amazon Prime account, you automatically get access to the streaming library. The platform also allows to buy or rent movies you would like to watch. There is a collection of DC and Marvel movies, as compared to Netflix.

Amazon Prime Video gives you a chance to watch movies anytime and anywhere, as every subscriber can download them. In addition to this, parents can entertain their kids with a great selection of cartoons. The app also has Parental Controls settings, so you won’t worry about the content your kids are watching.

The subscription fee starts at $12.99 per month, but it also gives a discount for students with Amazon Prime Student with the fee of only $6.49. In addition to this, you can choose among the channels like HBO, STARZ, SHOWTIME, and Cinemax. It allows you to pay only for the channels you’d like to watch and there is no need in a cable.

Links: App Store, Google Play

3. Disney +

Platforms: iOS/Android

Prices: $6.99

Start your free trial of Disney + to experience all of the advantages of this service and join the army of over 5 million subscribers. The platform, like Netflix and Amazon Prime Video, offers on-demand content produced by Disney, Pixar, Star Wars and Marvel, National Geographic and 20th Century Fox. The products are delivered in high quality (4K), they can be downloaded on different devices, and subscribers will get personalized recommendations based on their tastes and preferences.

Disney + offers not only classical TV series and movies but also features the new ones like The Mandalorian. Subscribers can choose between monthly or annual ($69.99) subscription on the platform. The service also offers a bundle deal that includes Disney+, Basic Hulu, and ESPN+ for $12.99 per month. The platform is supported on all sorts of devices (laptops, tablets, smart TVs, phones, and gaming consoles). There are no restrictions to the number of the downloads, so the service allows you to watch an episode of the favourite show while commuting or travelling, or just while chilling next to the pool.

Like Netflix, the service is ads-free and can stream videos on 4 devices at once without any additional fees.

Links: App Store, Google Play

4. HULU

Platforms: iOS/Android

Prices: $5.99/month

Next is Hulu video streaming platform with 30.4 million and 3.2 million (Hulu with Live TV) subscribers. Like the above-mentioned platforms, it offers on-demand content of classical and new TV shows and movies, including Futurama, Brooklyn Nine-Nine, The X-Files, The Good Wife, etc. Also, the platform creates its original products among which you can find The Act, Castle Rock, Veronica Mars, etc.

In 2017, Hulu launched the Live TV option that offers live streams of over 60 TV channels (broadcast and cable). You can find here the major networks like CBS, ABC, NBC, Disney Channel, National Geographic etc. Hulu Live TV pleases the tastes of the wide audience as it offers news channels, sports, and entertainment ones. So, the platform has three types of subscription: Hulu Basic ($5.99 per month, ad-supported), Hulu Premium ($11.99 per month, no-ads), Hulu + Live TV ($54.99 per month).

Subscribers can create up to 6 profiles in order to keep track of the shows they watch. The service provides recommendations based on the content you like to watch, subscribers can create lists “My Stuff” to follow the shows they like the most and get the latest updates.

Links: App Store, Google Play

5. HBO NOW/HBO Go

Platforms: iOS/Android

Prices: 14.99/month

The last but not least platform in our list is HBO NOW/HBO Go that also streams its original works like Game of Thrones, Chernobyl and Silicon Valley. There is no difference in content between HBO NOW and HBO Go, but the first one can be purchased independently, while the second one requires HBO subscription through your cable or satellite provider. To put it in a nutshell, if you have a cable subscription, HBO Go app can be installed and used technically for free, as you already pay your provider.

HBO NOW/Go are supported by all devices, including gaming devices. In addition to original shows, you get access to news, documentaries, smart talk shows, and comedy specials. It’s only one premium subscription that gives access to the variety of movies and TV series in high quality. In May 2020, HBO plans to launch another streaming platform – HBO Max. It will host HBO’s current content but also will add to its library Max Originals and most favourite classics like Friends and The Fresh Prince of Bel-Air.

The service offers a free trial for new platform users, so you can check the content yourself and decide whether to choose HBO as a streaming service on a regular basis.

Links: App Store, Google Play

Top Video Streaming Platforms in the World of Business

There is a number of platforms that stream videos for business purposes, we’ve analysed them and added the best ones to our list that can help your company during the quarantine.

6. Brightcove Engage

Platforms: iOS/Android

Prices: Free mobile app, for subscription pricing contact the company

Brightcove Engage is a powerful tool that helps to stay connected with your employees anytime and anywhere. This video streaming platform allows you to have a highly engaged, informed and trained workforce even at the time of worldwide quarantine. Internal communication is essential for every business, so you need a secure and simple tool to make it possible.

Brightcove Engage is free to use and suits both iOS and Android devices. The videos are uploaded in several simple steps, you can organize them according to your needs, create a single sine-on and share the link with all the employees, so they have immediate access to the content through desktops or mobile phones.

The platform offers to stream both on-demand content and live events, which can be a helpful tool to share the latest updates with your team and keep them inspired at all times. The service great analytical tools that can help you track trending videos, check engagement, thus understanding your audience and creating educational of informative videos to suit their preferences. Brightcove Engage simplifies daily tasks like planning, execution, and analysis. You can easily schedule live events and share the link with your workflow, so everyone stays in touch and most of all, informed.

Links: App Store, Google Play

7. UStream (IBM Cloud Video)

Platforms: iOS/Android

Prices: Starting at $99.00/month

UStream (IBM Cloud Video) is another platform that allows secure video streaming. This is a powerful service that offers 30-days free trial for test drive video streaming to the audience of any size and gives access to various broadcasting features. It’s a great way for potential subscribers to learn about the platform and experience its advantages.

There are three types of subscription plans that include Silver ($99.00 per month) that is suitable for small businesses and new users, Gold ($499.00 per month) for medium-size companies, and Platinum ($999.00 per month) for high volume usage. All the plans provide phone support and live polling, the difference is in the number of viewer hours, channels and video storage. Also, the Premium Membership is ads-free. Check the detailed descriptions and choose the most suitable for your business.

UStream offers to watch and broadcast live videos anytime and anywhere as there are available mobile apps for iOS and Android devices. Users can follow UStream channels and events of their interest, manage and share their recorded videos (that is suitable to stay connected with your employees), chat and interact with the audience, and broadcast live events to an unlimited number of viewers.

Links: App Store, Google Play

8. Kaltura

Platforms: iOS/Android

Prices: Contact team for details

Kaltura is one more well-known and widely used platform for online video sharing. It is required to create a web-based portal, so you can have access to it via phone or tablet. One of the strongest features of the service is its reliability in addition to impeccable performance and easiness in usage. Apart from being an excellent tool for business purposes, it is also used in the educational field. The portal makes it easy to broadcast and share everything from staff training classes to lectures and academic conferences.

Kaltura brings together contributors from various fields, gives a chance to like, comment, and share the feed you like, thus allowing interaction between you and your audience. In addition, the platform is empowered with analytical tools that can provide useful insight data.

There is a number of plans available on the website that suit different purposes, including Learning and Development,  Communication and Collaboration, Marketing and Sales. New users can choose a 1-month free trial to discover the features offered by the platform. Another great advantage of the service is that it offers customised plans for enterprises, as different companies have different needs. The prices of the service are variable and will depend on the package.

Links: App Store, Google Play

9. Wowza

Platforms: iOS/Android

Prices: Starting at $49

Wowza is next in the list of the best platforms for video streaming and there is a number of reasons to add it to this list. First of all, the service is extremely flexible and reliable solutions for enterprises of any industry. The service is powerful in terms of live audio and video (HD quality up to 1080p) streaming. It is easy to use so you won’t experience any technical problems when launching your live event.

Wowza is a platform for businesses that look for ready-to-use video streaming features and for the enterprises that need customized plans. It offers unique subscription plans that include Live Event, Pay As You Go, and 24×7 Streaming. For instance, if you’re a starter in the industry, you can choose a monthly subscription for $49, Standard plan goes for $199 per month, and Plus plan is $499 per month. In case your enterprise needs high-volume streaming plans, you can contact the team and get customised one to suit your business needs.

The key features of the platform are up to 4K live streaming, low latency streaming feature, social sharing, tools for developers (SDKs, APIs). Also, it can be in the cloud, on premises, and in a hybrid environment.

Links: App Store, Google Play

10. Vimeo

Platforms: iOS/Android

Prices: Starting at $7/month

Although Vimeo is known as a platform that is alike to YouTube but without ads, it’s also a high-quality service that offers a range of proprietary products for live video streaming. Here users can discover videos from best creators around the world and share their own ones.

The service has several subscription plans starting from $7 per month for Vimeo Plus and up to $75 per month for Premium users. If you need live streaming for business purposes, the most suitable plans are Business ($50/month) and Premium. The Business plan is offered with free 30-days trial that allows new users to discover all the features of the platform.

Vimeo is a service that provides HD live streaming and multi-streaming (YouTube, Facebook Live, etc.), which is a great feature to reach an even wider audience. What is more, the platform is powered with real-time analytics that provides detailed information on the streaming, audience engagement and helps you constantly improve. Audience engagement tools like polls, chat, and Q&A, are also available. All the tools and features together make Vimeo a useful tool for business live event streaming. The platform is secure and takes care of the private business information to the highest standards.

Links: App Store, Google Play

These are the video streaming platforms we have today and the ones that help us to get through the hard times to some extend. Still, it’s not the limit and if you have new ideas, you can turn it into reality even during the quarantine. There are companies like ours that offer to hire professional developers remotely. We have years of experience in the field of app development and ready to take projects of any level of difficulty.

Our team consists of experienced and skilled developers who use the best tools to create powerful apps. Even if you have basic knowledge of mobile app development, you can rely on our professionals who will come up with the most suitable solutions and help you create a unique product.

Talk to our app developers and experts to find out more about the topic and how your business or project can start benefiting from it today!

The post Top 10 Video Streaming Platforms in 2020  appeared first on Intellectsoft Blog.