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 presenters discussed how fintech industry executives should act now to grow their businesses using the latest approaches and innovative technologies such as:

• Online banking
• Mobile wallets
• Cryptocurrency and blockchain
• Artificial intelligence and machine learning
• Trading and securities

The webinar tackled the ways technologies provide the fintech industry to achieve better outcomes, opportunities for lower long-term fintech costs, and a rapidly growing digital finance market.

Watch The Webinar

Five Promising FinTech Trends with Use Cases

The webinar reveals never-before-seen use cases of emerging technologies and innovative solutions for digital finance and generates a common language for accelerated collaboration across the executive’s organizations.

Participants explored a strategic overview of real-life solutions application with a strategic roadmap that ensures sustainability across all the stakeholders.

Digital Strategy for Next Your FinTech Solution

Throughout our experience in Intellectsoft, we have faced a bunch of challenges for the fintech 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 FinTech 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. 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: The Future of FinTech. Insights, Trends, and Use Cases Defining the Industry in 2021 [Video] appeared first on Intellectsoft Blog.

FinTech companies and startups’ changing dynamic forces them to be more adaptive to stay afloat or pivot during these difficult times. Financial institutions from all over the world change the way people practice their finance. These are all credited to the growth of new digital trends such as Cryptocurrency, Contactless, Trading.

The upcoming webinar “The Future of FinTech: Insights, Trends, and Use Cases Defining the Industry in 2021” offers fintech visionaries access to the unique resources for accelerating the infusion of digital finance in their business.

Throughout the live 45-minute talk, our top minds will develop a robust digital fintech blueprint for the financial companies, tapping into Intellectsoft’s IT expertise and know-how of the fintech sector.

Register Now

In this webinar, you’ll hear from industry experts who will discuss five promising trends shaping the fintech industry in 2021, including:

• Online banking
• Mobile wallets
• Cryptocurrency and blockchain
• Artificial intelligence and machine learning
• Trading and securities

The webinar also reveals never-before-seen use cases of emerging technologies for digital finance and generates a common language for accelerated collaboration across the executive’s organizations. Participants explore a strategic overview of real-life solutions application, leaving with a strategic roadmap that ensures sustainability across all the stakeholders.

Emerging FinTech trends that are most likely to impact fintech businesses in 2021

Learning Outcomes Include: 

• Exploring global fintech trends every leader should look out for in 2021
• Revealing how to make your fintech business stand out in the post-digital world
• Discovering today’s featured examples of Intellectsoft clients’ technology solutions that can help you provide better and more efficient services
• Discussing how to evolve in 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: The Future of FinTech. Insights, Trends, and Use Cases Defining the Industry in 2021 appeared first on Intellectsoft Blog.

Along with facilitated business operations, the tools of the Internet of Things help insurance companies partner faster, work cheaper, and expand their activity more effectively.

But let’s see whether the involvement of wearables, sensors, and connected tools can keep improving the insurance sector after the COVID-19 changed the world. And how do software solutions for insurance industry transform the vertical.

IoT in Insurance: Use Cases of How the Modern Industry Works

The insurance sector is demonstrating dramatic development. Being generally innovative, insurers gain the most of their current benefits with the involvement of IoT.

In a recent couple of years, all the trustable observers honored the achievements of IoT in insurance. For example, according to McKinsey, the appearance of the digital ecosystem enabled partnering between insurers and outside companies to provide cross-industry service.

The most illustrative use case is the cooperation model under Google Nest for creating the smart house service. In its turn, Deloitte noted the enhanced approach to segmenting customer base and refining pricing models. In particular, the emergence of online rate comparison capabilities is the beneficial consequence of IoT in insurance.

All these trends call digital connectivity to develop even faster and innovate further.

IoT in Life Insurance

One of the top solutions in the sphere of life insurance is mobility/connected cars. This tool enables tracking all the vehicle’s key parameters and its driver behavior — including the intensity of using brakes, the favorable parking places, and the typical driving time.

As a result, the customer gains timely recommendations on preventing the harm of their high-risk actions and increasing driving comfort.

IoT in Health Insurance

In terms of health insurance, IoT introduced smart health. Once incorporated in the smart home ecosystem, it significantly assists people with disabilities, for example, to manage their daily activities.

For other population categories, the achievements of connected health help maintain their healthy state and prevent possible diseases.

IoT Insurance Industry Trends: New Opportunities

Introducing IoT into the insurance sector creates several opportunities.

First, it promises enhanced risk management. With better access to analytical data on driver behavior, it increases the predictability of vehicle use. In addition, customers can enjoy the customized service that accurately fits their needs.

The second perspective is the ability to offer a full-stack type of service. By linking with various outside partners, insurance companies become ready to involve the cross-industry approach to their data-based offering of new services.

Finally, the expansion of IoT technologies creates an environment of better control over finances. This means reducing costs on unnecessary offers and maximizing profits from concentrating on delivering the service people actually want.

2 Key Challenges for IoT Trends in Insurance

On the one hand, the advantages of IoT trends are still hard to achieve in developing countries. Precisely, the immaturity of the insurance market creates chaos in interactions between its key actors. Moreover, the regulation void and widespread illegal driving cause inaccurate predictions on market behavior.

On the other hand, there exist some technical limitations for IoT insurance development from country to country. Mostly, you can’t reach your partner once you and your vehicle leave the homeland. This causes difficulties in expanding IoT insurance trends.

How COVID-19 Affected the Sphere of IoT Insurance

Generally, the Coronavirus pandemic has increased the importance of safety in all the meanings of this word. It refers to the danger of keeping people close in terms of physical distance combined with the intensified use of digital tools, which increases the risk of fraud and vulnerability of business operations.

At the same time, the lockdown caused by COVID-19 left people with their houses and cars alone. And so, they had time to think about enhancing these basic facilities. Surprisingly, this situation attracted the attention of the wide public to IoT insurance technologies.

Future of IoT in Insurance: What Enterprises Can Request from Insurance Companies These Days

Practically, the list of opportunities and the complexity of challenges in front of IoT in insurance achievements determine future work’s direction. In particular, it’s needed to improve the technological base and expand current results abroad.

At the same time, the development of cybersecurity deserves special attention. This trend creates a new dimension in the possible risk management and is highly requested after the reluctant shifting of most of the transactions and business processes online.

Where to Try IoT Tools in the Insurance Industry?

If you’re interested in introducing IoT insurance trends, refer to Intellectsoft. Our task is to empower companies and their workforces with innovation services and approaches to help them survive during these times.

Since 2007, Intellectsoft has been developing impactful and award-winning apps for Fortune 500 companies and established brands. We delivered solutions to:

• Eurostar
• Jaguar Land Rover
• Universal
• EY
• Guinness and other companies

Learn more about the use cases in our Case Studies section and some of our recent awards:

1. Intellectsoft Named Top Software and App Developer in California
2. Intellectsoft is a Global Software Development Leader, Outruns Nearly 1000 Companies

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

Explore what we offer for the Insurance industry.

The post IoT Insurance Industry Trends: Growth, Challenges, and Future Forecast appeared first on Intellectsoft Blog.

Having a mobile insurance app is a must-have nowadays. And it’s not just words. We can prove it. First of all, users spend most (86% to be precise) of their Internet time in apps. And no wonder — smartphones are solving more and more of our everyday problems. Secondly, insurance software solutions improve customer experiences and open new business development opportunities for the insurance industry.

EuroAccident is an accurate example and one of our best projects in the field for digital transformation through mobile and cloud solutions. Intellectsoft’s top minds have created the app that became the cornerstone of the company’s digital strategy and met market demands. But let us first introduce our client.

Summary:

1. The customer, EuroAccident, needed a mobile solution for its customers, brokers, and partners.
2. Intellectsoft has developed a secure, scalable, end-to-end mobile solution that smoothly integrates with the company’s IT infrastructure and external APIs, and can be easily upgraded.
3. Having won a Stevie Award in the category “New Service or Product” for the Insurance industry, EuroAccident’s digital transformation journey with Intellectsoft continues till today.

About the Client — EuroAccident

EuroAccident is a leading insurance provider in Sweden. A NASDAQ-listed company that has been operating since 1996, it offers an extensive range of health insurance options and health services to Swedish companies, helping them succeed with their health and work environment strategies.

Since December 2, 2019, owned by a consortium of investors led by the Swedish investment company Impilo AB. Their comprehensive approach to all facets of insurance and health helps to create profitable companies by fostering healthy employees and workplaces.

As the company’s website states: “The fact that 98 % of our health care clients would recommend us to their family and friends is proof that we are on the right track towards our vision.”

The Challenge: Lack of Customer Experience Initiatives

“We wanted to build a mobile app — we’d never had one before,” — says Henrik Andersson, EuroAccident’s IT Product Manager.

Besides this, the company leadership saw the demand for:

• Strengthening the relationship between EuroAccident and its customers and stakeholders
• Increasing the internal operational efficiencies by boosting the role of self-service and automated case processing
• Raising the level of service and improving the overall customer experience

After a profound analysis of the customer’s ideas, Intellectsoft team initiated a workshop series to begin the process of developing the native iOS and Android apps. Moreover, the client wanted the app to be “more than just a window,” so our industry leaders performed integration with the client’s backend system and third-party partners.

The Solution: All-In-One Insurance App

EuroAccident aimed at creating a mobile solution for its customers, brokers, and partners. They wanted the app to be cloud-based, and user authentication goes through the Swedish mobile bank ID.

Intellectsoft has developed a secure, scalable, end-to-end mobile solution that smoothly integrates with the company’s IT infrastructure and external APIs, and can be easily upgraded.

The app allows clients to make claims, schedule appointments, and pay deductibles. Additionally, it simplifies a wide range of activities:

• Viewing request history
• Comprehensive appointment management of multiple procedures
• Scheduling
• Reminders
• Maps and others

It is also a scalable solution that safeguards the data of all parties involved in EuroAccident’s insurance process. Currently, our ongoing partnership is on the stage of planning the next version of the app.

Henrik Andersson had helpful comments to share about our work at Clutch:

“Intellectsoft seemed genuinely interested in us as a company and wanted to learn about our services. They visited with us on-site and engaged in a way that we appreciated. They spent a lot of time helping us figure out what we wanted. We’re happy with their work.”

The Impact: Better Insurance, Improved Lives

“They managed their team well and made sure we understood what was being worked on” — EuroAccident, Sweden’s leading insurance company.

Intellectsoft was pleased to win a Stevie Award in the category “New Service or Product” for the Insurance industry. Stevie is one of the most coveted business prizes. It is aimed to honor and bring to the public’s attention the positive contributions of organizations and professionals around the world since 2002.

Our mobile solution helped EuroAccident perform a digital transformation of the company’s services. As a result, the app has allowed the company to strengthen the relationships with its customers and partners, as well as set the bar for providing digital insurance services in Europe.

“Intellectsoft managed their team well and made sure we understood what was being worked on,” said Henrik Andersson, project manager at EuroAccident. “We’re currently planning the next version of the app, which will have more features and functionalities.” You can also see the full review on Clutch.

Your Next Digital Journey with Intellectsoft

Since 2007, Intellectsoft has been developing impactful and award-winning apps for Fortune 500 companies and established brands. We delivered solutions to:

• Eurostar
• Jaguar Land Rover
• Universal
• EY
• Guinness and other companies

Learn more about the use cases in our Case Studies section and some of our recent awards:

1. Intellectsoft Named Top Software and App Developer in California
2. Intellectsoft is a Global Software Development Leader, Outruns Nearly 1000 Companies

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

Explore what we offer for the Insurance industry.

The post Award-Winning Insurance Solution: EuroAccident Case Study at Its Best 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.

To help you with additional inspiration for your insurance app, Intellectsoft has gathered a list of most effective apps for iOS to date (and one interesting, unusual example) from top-tier insurance providers like Geico and Allianz.

From a car insurance app to memory vault app to life insurance app, these apps are diverse, but have one thing in common: they effectively transform the insurance process with mobile through simplicity.

Along with answering a number of iOS app development related questions, we hope our list and guide will be of use in bringing your own insurance app to life.

Auto Insurance App — Geico Mobile

Established in 1936, Geico is the the second largest auto insurer in the U.S. As of 2017, the company provides coverage for 24 million cars and 15 million individuals.

When it comes to iOS app development of an insurance app, the company’s digital tool is a prime example of both a car insurance app and an insurance mobile app in general.

The company tackled all key issues in four cornerstone features:

• Digital ID Cards. Drivers can access all their insurance IDs in the app
• Drivers can order roadside service in a few simple steps
• Virtual assistant provides users with quick and spot-on answers to common questions
• Vehicle care converges a car’s service history, open recalls, maintenance schedule, and other essential information in one place

Geico uses mobile to simplify every step of dealing with an auto insurance, making it less stressful. This is reflected in other features of Geico Mobile: driver cab pay and manage, remove old vehicles from the police, and stay informed about a repair with notifications.

The auto insurance app currently holds the thirteenth spot in Finance category of the AppStore, having earned five stars based on over 83,600 ratings. It is clear that Geico and their iOS app development team put a lot of effort into creating the application.

Travel & Life Insurance App — TravelSmart by Allianz

One of the largest and oldest insurance companies in the world, the German Allianz has shown how well mobile extends the possibilities of insurance services with their application. TravelSmart gathers all the services a traveller might need and more in a simple and eye-pleasing insurance mobile app.

Here are some of the features of the insurance app:

• Quick access to travel policy
• Case management: firing a claim, uploading documents, progress tracking
• Quick access to hotline
• Real-time flight and boarding gates updates
• Information on medical facilities nearby
• Quick access to a country’s numbers for police, fire, and ambulance
• Translator of first-aid terms (18 languages)

On top of that, the interface changes to match the location of the trip — a small and pleasant design touch from the TravelSmart’s iOS app development team.

General Insurance App for Healthcare — EuroAccident

A NASDAQ-listed company operating since 1996, EuroAccident is a leading insurance services provider in Sweden. EuroAccident offers a great many health insurance options and services, and their app is a health insurance, life insurance, and general insurance app all at once. Above all, their solution illustrates how insurance services can be transformed with mobile successfully.

The digital tool is the staple of the company’s services, offering customers simple and quick control of all steps of the insurance process, and providing a lot of room for flexibility. The insurance app is also a means for EuroAccident to increase internal operational efficiencies and leverage Big Data.

Here are some of the features of the insurance app:

• Patient request history (past, currently booked, and scheduled appointments)
• Multiple procedures management
• Reminders about procedures
• Appointment cancellation and rescheduling
• Easy refunds
• Integration with the most popular banking account authorization system and doctor booking service in the country
• Calendar synchronization
• In-app map
• Personal insurance info
• Family insurance info
• Children insurance management for parents

Learn more about the app and the iOS development process.

Health Insurance App — myCigna

Since its inception in as far as 1792, the American insurance giant Cigna has built itself a reputation of a company with a strong focus on health insurance.

Cigna’s diverse and all-embracing app suite for every step and side of the healthcare journey only confirms it. MyCigna is the flagship app, providing essential services in an accessible fashion.

Here are some of the features of the insurance app:

• ID cards management
• Viewing, bookmarking, and grouping claims
• Account balance management
• Home pharmacy delivery management: viewing and refilling prescriptions in the app
• Drug search: access to 60,000 pharmacies across U.S; pharmacies in close proximity locator
• Quick hotline access
• Doctor and procedure search with ratings and prices
• Health wallet: customers can organize, manage, and store their health information

The list goes on, stretching to Touch ID for additional security — myCigna is a truly comprehensive health insurance app. On the other hand, a feature list this long sounds overwhelming, especially for the insurance customers who are too busy or older adults that don’t use smartphones often.

Still, the app is simple and user-friendly, and holds spot 76 in the competitive Health & Fitness category in the AppStore. Over 25,000 ratings earned the insurance app an overall four point seven stars, with users praising different features and stating the app is on par with Cigna’s reputation of a leading insurance services provider.

MetLife Infinity — A Unique Insurance App

Given MetLife’s main focus, this spot could have been occupied by a dental, life, or home insurance app. Also, the 150-year-old insurance provider could have taken their enterprise offers to mobile.

Still, their MetLife Infinity app is something entirely different — a private memory vault and social network. MetLife clients can upload photos, videos, and documents, and share them with friends and family instantly or at a set time in the future.

The insurance app is aimed at those of MetLife’s clients who want to use digital tools, but in a private and unconvoluted way they can always control.

MetLife Infinity can also help settle insurance cases connected to distributing property. In addition, the insurance app strengthens the bond between the company and its clients, as well as improves brand image.

iOS App Development in Insurance: FAQ

How to find an iOS app development company for an insurance app?

Choose a company that caters to the insurance industry, they will mention it on the website or elsewhere at the forefront. Look out for what they can be bring in terms of features and technologies, and, as usual, the company’s projects.

Today, solutions like creating an insurance app can also be found in the FinTech solution section, as they have been widely associated with the term since it emerged. Like any other reputable company, your partner in iOS app development should have at least five years of experience on the market and several years of experience in creating insurance or finance software solutions. Our team always stays up to date with emerging technologies and market news. Our recent review of iOS 14 features, release date, and compatible devices speaks for itself.

What iOS app development services you might need?

To create a competitive insurance app, look out for companies that offer Big Data, machine learning, and cloud solutions in their iOS app development services offering. These technologies will help you get insights, automate operations, and scale your business.

What iOS app development language will be used to create your insurance app?

Your iOS app developers will use Swift, a new language for the platform introduced in 2014. Swift is for iOS 7 and OS X 10.9 applications or newer.

What will be the iOS development process for your insurance app?

If you have a general idea of your app and the features you want to have, your iOS app developers will take to using Agile after the initial meetings, showing you results every two weeks.

If you your idea is at early stages, a reliable iOS development company will set up workshops with you and the key stakeholders, helping to shape the concept gradually. After everything is finalised, your iOS app developers will also use the Agile development process.

What are the iOS app development costs for your app?

A rich-featured custom insurance app will start at $250,000. Ultimately, you will get a more precise number when you have at least finalised the key features.

Where can you find reliable iOS app development companies for your insurance app?

Start with consulting companies and B2B research platforms that focus on client reviews, for example Clutch and SoftwareWorld. Aiming at FinTech companies would the most efficient way during your search.

Creating an Insurance App — Final Notes

Whether it is a general insurance app, life insurance app, or car insurance app, building an impactful mobile solution for your business does not pose a problem today. There are enough examples and experienced companies to help you bring your idea to life, and every step and aspect of the development process is clear. We hope our guide will help you find the right partner, foster and finalise your idea, and provide answers to your questions.

Good luck!

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

The post Creating Your Insurance App: iOS App Development Examples & Tips appeared first on Intellectsoft Blog.

Our experts weigh in on the latest research and trends to help to imagine the perfect digitization phases for one building development and more effective, affordable, and efficient solutions.

The “Digital Transformation in Construction. Thinking One Step Ahead” tackled the areas of implementation, real-life examples, constraints, and more regarding the potential digital transformation steps as different layers or dimensions of the BIM repository and other essential tools.

Watch The Video:

Digitalization as XD Roadmap

Digital transformation in the construction industry is not just a nice to have thing from a design, estimating, and safety perspective. It is also becoming a part of state regulations in most developed countries.

During the webinar, we considered the adoption of 3D and CAD modeling as the base-level and reviewed all other D’s to 8D as a new layer or dimension added new Interactions between parties, collaboration opportunities, and other benefits.

Talking about the ecosystem, there were five parties of system interactions: customers who would be a project owner, a cost control department, management including Project and Operations managers, third-party vendors and contractors, and engineers and developers.

In the 3D case, our base level, we assumed that all designing and engineering work is done in 3D. So all initial project documentation right from the start is digital. We have Architects and Engineers collaborating and sharing on the system. The 4th dimension or 4D case would be time.

In the particular version the BIM repository adds:

• Planning and Estimation;
• Integration with construction management tools;
• Documents, Materials, and Phases approvals workflows;
• Deep integration with Design and construction simulation tools.

As the 5th dimension, we would add costs. In the 6th layer, we add even more parties and control to the system. The 7th dimension is all about post-production management, operations, and reconstruction. And finally, the last 8th dimension is safety during the project and after it is completed.

Watch Webinar

Insight Driven Construction

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

Our experts kindly presented you with the most significant ones during the webinar. And we hope this helps you to understand more about particular parts of the solutions that you can use in your developments starting today.

If you aim to transform your business processes digitally, Resource, BIM, and Risk Management are three crucial tools to consider during pre-planning, scheduling, and allocating your resources with a final goal to maximize efficiency.

Transform Your Vision With Intellectsoft

While there is still a lot of uncertainty and challenges around the digital transformation in the Construction 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 Transformation in Construction Industry 2020 [Video] appeared first on Intellectsoft Blog.

Summary:

• The customer needed a single software solution that would streamline construction project management across all departments, elevate the partner management processes, and simplify truck and asset management.

• We created an all-in-one ERP with three interconnected solutions. First, a portal for project management with time-tracking option. Second, a geofencing system for onsite presence visibility. And third, a mobile solution for truck drivers that simplifies asset delivery and management.

• Now, everyone, from a truck driver to an on-site inspector, is empowered with a useful tool to carry out their tasks quickly and efficiently.

The Challenge: Lots of Data, No Infrastructure

One of the nation’s top construction companies decided to move away from unsynced legacy systems and enable innovation. They approached us for a digital transformation of their key operations as part of the company’s business development plan.

The company needed a single software platform that would:

• streamline construction project management across all departments,
• elevate the partner management processes,
• and simplify construction equipment  and assets management.

We faced a simple, yet complex challenge: to streamline crucial processes in assets, partners, and project management. There were no quick and easy answers. And more questions amounted.

The complexity of the company’s projects increased the complexity of the challenge. And the success of any company’s project relies on an immense number of elements and involves many partners and parties, including governmental institutions.

The company’s civil engineering building and infrastructure construction projects start in the middle of nowhere — there was no infrastructure at all.

At the same time, there were a zillion things to manage: from resources, people, and documentation, including certificates and passes to the site, to numerous inventory items and machinery, the materials that arrive and leave the site.

Therefore, the solution needed to unlock the next stage of the construction giant’s growth and tackle significant business challenges connected to the company’s key operations, as well as across-the-board project organization. In the end, the company became the first local construction company to embrace innovation on such a large scale.

The Solution: All-in-one Construction ERP

Together with the Innovation team, we launched a series of software workshops. After shaping the overarching solution and problematic areas, the group proceeded to the development stage.

The result was an enterprise ERP (Enterprise Resource Planning) tuned and customized for construction projects consisting of three streamlined and interconnected solutions:

• a portal for construction project management with time-tracking solutions;
• an on-site geofencing system;
• a mobile solution for truck drivers that simplifies asset delivery and management as much as possible.

Moreover, some of the solutions are unique to the construction industry — no one implemented such technology before the construction giant’s partnership with Intellectsoft.

Portal for Project Management

The resources management portal is the starting point and the foundation of the complex solution. Before its implementation, the company relied on Excel, and the process of exchanging and managing crucial project information was segmented.

To address the issue, we created a custom, cloud-based construction resources  management portal that converges critical aspects of a project in a single digital environment that is easy to maneuver.

Key features include:

• Management of large-scale construction projects;
• Management of Users (workers), Teams (Groups), Vendors (Subcontractors);
• Materials management (loading and unloading of raw materials for trucks);
• Management of machines — trucks, lorries, excavators, bulldozers, etc.;
• Geofencing — automated work shift check-in and checkout for onsite presence visibility;
• Vendor ecosystem;
• Time-tracking solution;
• Integration with Internal and Government services for data and requirements (e.g., mandatory worker card).

The design and functionality of this solution ensures transparency and communication between the company’s employees and departments, as well as other involved parties. The portal also makes it easy to monitor the progress of the company’s and its partners’ employees, as well as improves partner collaboration with easy third-party integration.

Now, the company can carefully manage every aspect of any project, elevating project efficiency to new heights.

On-site Geofencing

As other large construction companies, our customer partners with a lot of organizations/vendors across all of its divisions, and the workers of these organizations are present on project sites.

The process of organizing this cooperation involved several issues: 

• Representatives needed to carry their ID cards on their work clothes;
• On-site reporting with paper documents proved uncomfortable to employees and their partners alike;
• The problems affected the level of project security and efficiency.

To address the issues, we established an advanced geofencing system for onsite presence visibility.

It was the first solution of its kind for the local construction industry.

Already tested on a road construction project, the system became a reliable backbone for on-site ID card check-in/check-out, allowing the company to see which employee entered the site and which partner company or organization they represent.

We’ve also created a separate functionality for inspectors working on the projects, completely transferring their workflow to mobile and removing paperwork from the process.

The geofencing solution and inspector solution are directly connected to the labor management portal, converging everything in one place.

A Mobile Solution for Truck Drivers

The legacy solution was too complicated and uncomfortable for the drivers. At the same time, the premise of the process was rather simple: a truck arrives at a site, unloads (or loads) the materials, records the type and amount of materials, and leaves the site. Also, it was a stand-alone solution that was not synced with any other software system of the company.

To solve the problem, we created a mobile-driven solution that simplifies the process as much as possible, bringing in other substantial benefits along the way. It is also connected to the labor management portal.

How it works:

1. A driver records the process of unloading and loading with one click;
2. Selects which material they delivered or loaded for delivery, and how much of it;
3. Leaves the project site.

Some benefits for the construction company:

• No reporting: the app collects the data, and is accessible on a dedicated dashboard;
• Integration with other systems;
• Improved weight control;
• Geofencing: the app records when a truck arrives and leaves.

Continuous Impact and Collaboration

From a truck driver to an on-site inspector and anyone that partners with the construction giant on a project, now everyone is empowered with an effective tool to carry out their tasks quickly and efficiently.

This collaboration formed an impactful and unique solution that puts the customer several steps ahead of the competition, confirming the company’s reputation as a leader and innovator in the construction industry.

Seeing that solution has proven to solve the customer’s challenges is the greatest reward for us. We hope to witness more and more construction companies to implement innovations and disrupt digital transformation in the future. And Intellectsoft is here to have their backs!

The construction giant’s partnership with Intellectsoft continues in other areas that modern technology could transform and improve further. It also carried the customer over to the next business development stage, ensuring the company’s end-to-end digital transformation.

If you are ready to elevate your construction business with digital transformation or need an extensive consultation on the matter, get in touch with our construction experts. 

Let’s create your next success story together!

The post Reshaping Construction Industry: A Story of Digital Transformation appeared first on Intellectsoft Blog.

Adero, formerly TrackR, whose shareholders include Amazon, Foundry and Revolution, developed a series of products and software solutions along with Activefield, a platform that can scale across many products, many companies and unlimited use cases.

Adero, being a well-funded startup, has been successfully reinventing itself to stay relevant as it grows together with its addressable market. Like any early stage ventures, one of Adero’s challenges hinged on a need to scale its software development together with its engineering bandwidth, with the required growth vs. available local resources.  

Competing in a rather fragmented market of IoT-based consumer solutions for organizations, Adero aimed high, worked hard, and raced against time to go to market with an offering that would win over millennial and Generation X consumers alike.  

During its quest, Adero partnered with Intellectsoft, which was able to integrate its efforts smoothly into the strides undertaken by Adero’s in-house team. Understanding  IoT technologies, the intricacies of hardware design and embedded software, coupled with an innate understanding of the needs and wants of Adero’s core consumers, Intellectsoft was able to contribute its skills and knowledge to the partnership, resulting in a product that lies at the core of the intelligent, easy and stress-free organization concept of Adero.

Shortly after the product’s release, Fast Company awarded Adero the #10 spot on their list of Most Innovative Companies, alongside tech giants Apple, Google and Microsoft.

About Adero & Smart Tagging System

Adero (formerly known as TrackR) is a Santa Barbara, CA-based technology company that provides an intelligent organization system aiming to end the stress and chaos that comes with managing personal things. Converging consumer electronics, hardware, the Internet of Things (IoT), mobile, software, and wireless in one place, Adero’s Smart Tagging system lets a user’s life essentials manage and keep track of themselves.

1 Smart Tag (parent beacon) and 3 Taglets (smaller beacons) connected to it

No matter how many things you have and the number of bags you use to carry them, Adero is built to ensure you never lose anything in a simple way. The logic behind Adero’s product is the following. The Smart Tagging system consists of small tracking devices, parent trackers, and a custom mobile app. You place the parent beacon (called a Smart Tag) on a bag, the smaller trackers (called Taglets) on the things you usually put in that bag, and then register the bag and its tags in the mobile app. When you leave something from the bag behind, the app sends you a notification after communicating with trackers. You can organise the bags, trackers, and notifications in the app.

How hard was the road to the seamlessly working final product and the customer? And where did Intellectsoft step in to play the part?

Challenges, Challenges, Challenges

At the start, Adero faced fierce competition in the tracking solutions market. The only option was creating a pitch-perfect product that would fully deliver on the premise of keeping track of personal belongings at all times.

The final result needed to be simple, work seamlessly, and stand out among competitors. Adero’s talented team had experience  creating similar products that enjoyed success, including the wireless speaker system from Sonos, XBox from Microsoft and the Tesla.

The accompanying mobile app is an important part of Adero’s product

Adero began working with various development partners focusing on design, firmware, hardware, and software. The two unresolved pieces of the fully-developed product puzzle were: a) ensuring interoperability between all product components and b) simplicity of the solution that would resonate with users of diverse tastes, age groups and abilities.

For those tasks Adero selected Intellectsoft to partner across mobile, cloud, and microservices development.

Building the Team & Getting to Work

While the right expertise and niche skills were critical to the product development success, contracting planned time to market put both companies under significant pressure to perform fast and, most importantly, to deliver robust and superb performance.

For Intellectsoft such a time-pressed environment is actually a modus operandi, as many domestic and foreign enterprise clients come to Intellectsoft “in a pinch.” The company has a well-oiled system of acquiring, training and onboarding the resources with required core domain and technology prowess and compiling an outstanding team within Adero-required deadline.  Intellectsoft has been working with Adero through a combination model from its offshore development centers in Kyiv and Minsk, as well as on-site in a client-facing capacity at Adero’s offices in Santa Barbara.

The project epitomised success of this close collaboration between Intellectsoft and Adero teams that enjoyed great synergies in the process, consisting of knowledge sharing across a wide array of subjects from general technology challenges to particular relevant  intricacies in software development.

Areas of Collaboration:

• iOS app MVP architecture (Swift)
• Android app MVP architecture (Java)
• Custom Bluetooth communication protocol
• Advanced rule validation and notifications engine
• Custom User Interfaces and Motion
• AWS cloud backend solution
• Platform build on Ruby and Node.js
• Advanced platform rollout
• Mobile app development
• Hardware onboarding and communication security
• AWS Cognito for authorisation
• ELK Stack for Logging and Metrics
• Installation of microservice architecture

See how Adero’s product works:

Abundant Payoff Was Commensurate With The Efforts

Intelectsoft’s cooperation with Adero could not have resulted into anything short of an award- winning product that stands out among competition.

Fast Company ranked Adero #10 in their list of Most Innovative Companies of 2019 in the Consumer Electronics segment. Adero stands beside the majority of the tech industry’s giants, including Apple, Google, and IBM. Meanwhile, the customers enjoy Adero’s simple and elegant product that helps manage essentials without leaving behind vital items for all upcoming engagements in an easy and sleek manner.

“Smart devices were supposed to make our lives better.  However, over the past decade we’ve discovered that users are quickly becoming overwhelmed in this overly-connected blue-chip stuffed IoT driven world,” said Adero’s Chief Executive Officer Nate Kelly. “More apps to manage, more devices to keep an eye on, more cords to untangle and remember about—it’s way too much! Adero is giving the users  an opportunity to passively manage and keep track of their essentials in a non-invasive way that allows for confidence and a peace of mind for our customers. ur system of tags, effectively “taking care” of the items,” freeing consumers’ minds to focus on more rewarding matters. Without Intellectsoft’s expertise, getting a product of this quality to market, especially within the outlined time constraints, would have been nearly impossible.”

The post Tech Story: How Adero Created a Stellar Product that Consumers & Top Tech Media Love appeared first on Intellectsoft Blog.