Insurance IT Solutions and Services
Since 2012, ScienceSoft provides insurance companies with IT solutions and related services – from advanced technology consulting to IT infrastructure support and help desk – to help them digitally transform and improve all major service activities.
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IT services for insurance cover IT consulting, software design, development and support, quality assurance of digital insurance systems, and more. They aim to help insurers improve business productivity, enhance customer experience, and optimize IT costs.
ScienceSoft’s team is here to analyze the needs of your insurance company and implement robust solutions that facilitate digital lead generation, increase the efficiency of application processing and claim management, and simplify compliance with the required legal regulations.
What Makes ScienceSoft a Reliable Partner
- Since 1989 in software development and consulting
- Since 2012 in IT for insurance
- Experience in delivering both B2B and B2C insurance solutions.
- Since 2003 in cybersecurity to ensure world-class protection of insurance software.
- In-house compliance experts with 5–20 years of experience to guarantee insurance software compliance with the required legal standards.
ScienceSoft’s Practices to Ensure High and Sustainable Value of Insurance IT Services
Click on the cards below to explore the perks of our mature approach to service delivery and understand the benefits of trusting your insurance IT initiative to us:
IT Solutions for Insurance We Develop
IT solutions ScienceSoft creates help insurance companies improve overall business efficiency and introduce excellent customer experience. We can design and implement one or several of these targeted insurance solutions, as well as build a full-featured insurance business automation system:
- Insurance application processing.
- Risk assessment.
- Insurance pricing.
- Compliance management.
- Personalized premium calculation.
- Automated invoicing.
- E-signature workflow.
- Payment processing.
- Collaborative policy creation.
- Policy issuance, updating, and renewal.
- Centralized storage of all policy-related data.
- Claim capture and processing.
- Damage evaluation.
- Claim validation and fraud detection.
- Claim settlement.
- Self-service options for agents, customers, and service suppliers.
- Insurance application and claim management.
- Access to the required insurance data.
- An intelligent virtual assistant.
- Instant messaging.
- Generation and submission of insurance applications and claims.
- Premium payment.
- Full audit trail of account activities.
- KYC/AML verification.
- Multi-factor authentication, including biometric authentication.
Marketing
- Customer journey management.
- Content marketing.
- Omnichannel lead generation.
B2C and B2B Sales
- Online and in-person sales.
- Account development.
- Data exchange with other systems.
Customer service
- Omnichannel communication.
- 24/7 support using chatbots.
Insurance data analytics
- Customer analytics.
- Finance analytics.
- Risk analytics.
- Operational analytics.
- Workforce analytics.
- Agency performance analytics.
- Predictive and prescriptive analytics for insurance planning and optimization.
- Insurance reporting.
P2P insurance
- Criteria-based search of insurance offerings.
- An insurance price calculator.
- Automated underwriting and policy issuance.
- Payment processing.
- Insurance automation using smart contracts.
- Immutable recordkeeping of insurance data.
- End-to-end traceability of insurance transactions.
- Crypto payments.
Our Selected Projects for Insurance
Aviation Insurance Software Development Outsourcing
Modernization of a legacy aviation insurance web application to improve its performance and functionality, which allowed the Customer to attract new B2B partners and draw external users’ loyalty and revenue from insurance purchases.
Web App Development for Car Insurance Claim Estimation
The app allowed the Customer’s clients to point damaged parts right on a 3D car model, which facilitated filing car damage claims.
IBM Security QRadar SIEM Implementation for the Life Insurance Company
Implementation and fine-tuning of a QRadar SIEM system allowed the Customer to fend off cyberthreats and protect the sensitive data of the company’s clients.
Development of StreamServe Document Management Software
The StreamServe-based solution provided the pension insurance company with efficient and convenient tools for preparing, printing and archiving documents.
Intranet Performance Assessment for the Insurance Company
ScienceSoft performed the analysis of the SharePoint-based intranet and created the assessment methodology to help the Customer solve performance issues and ensure the solution’s stable operating.
Modernization of Insurance Claims Processing Software
ScienceSoft detected and fixed performance issues of the insurable event management system to help the Customer enable reliable 24/7 support for the insured.
Development of a Concept of Injury Management Software
The created concept and detailed specification of an injury management system allowed the Customer to start implementing a solution that facilitated cooperation between caregivers, law firms and medical finance companies in settling vehicle accident injury cases.
IT Services for Insurance Companies
Advanced technology consulting
ScienceSoft’s consultants advise on the use of cloud, big data, AI and ML, blockchain for:
- Insurance data aggregation and processing.
- Claim-related decision-making.
- Insurance fraud detection.
- Risk management.
- Advanced operational analytics.
- Demand forecasting and spend planning.
- End-to-end traceability of reimbursement transactions, and more.
Insurance product consulting
ScienceSoft assists in idea productization, brand design, UX and UI design and delivers:
- A clear insurance product concept.
- A unique selling proposition for your product.
- Digital customer journey maps and a usability testing report.
- A comprehensive UI kit.
- An interactive prototype of your insurance software.
- A best-fitting toolkit to build your insurance product.
Insurance IT solution development
- Suggesting optimal insurance solution features, architecture, and tech stack.
- Implementation project cost & time estimates, ROI calculation.
- Insurance software development.
- Integrating the solution with required systems.
- Quality assurance of the insurance solution.
- Continuous support and evolution of the insurance solution (if required).
- Designing an individual digital transformation strategy and plan.
- PoC development to assess the viability of innovative insurance software.
- Modernization of existing insurance software and IT infrastructure.
- Development of new insurance solutions.
- Implementing IT automation.
- User training.
Outsourcing of specific IT functions
ScienceSoft offers to handle separate IT functions to optimize the quality and costs of insurance operations and provides:
ScienceSoft helps quickly cover resource gaps in your insurance IT initiative with the following experts:
- Developers (Java, .NET, Python, PHP, C++, and more).
- Testers (manual and automated testing).
- DevOps engineers.
- Data analysts.
- Cybersecurity experts.
Make Your Insurance Services Effective With Technology
