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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.

Insurance Software - ScienceSoft
Insurance Software - ScienceSoft

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 FIO, NAIC, SOX, CCPA, NYDFS, GDPR, SAMA, IA, and other required legal standards.
  • ScienceSoft is a 3-year champion in The Americas’ Fastest-Growing Companies rating by the Financial Times.
  • For the third year in a row, IAOP features ScienceSoft in its Global Outsourcing 100, the list of the most trusted outsourcing service providers.

What makes ScienceSoft different

We achieve project success no matter what

ScienceSoft does not pass off mere project administration for project management, which, unfortunately, often happens on the market. We practice real project management, achieving project success for our clients no matter what.

See how we do that

Our Selected Projects for Insurance

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:

  • 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 processing and fraud detection.
  • Damage inspection and loss adjustment.
  • Claim settlement.
  • Self-service for agents, customers, and loss handling providers.
  • KYC/AML verification for new insureds.
  • Access to the required insurance data.
  • Intelligent virtual assistants.
  • Instant messaging.
  • Customer-side features to apply for insurance, pay premiums, overview policies, file claims, and more.
  • Full audit trail of account activities.
  • Multi-factor authentication, including biometric authentication.
  • AI-supported chatbots.

CRM

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.
  • Customer analytics.
  • Finance analytics.
  • Risk analytics.
  • Operational analytics.
  • Workforce analytics.
  • Agency performance analytics.
  • Predictive and prescriptive analytics for insurance planning and optimization.
  • Insurance reporting.
  • 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.

Found a Solution You Need?

ScienceSoft’s team is ready to help you implement a tailored solution that will meet the unique business needs of your insurance company.

Our BFSI Clients about Their Experience with ScienceSoft

ScienceSoft demonstrated a deep understanding of our requirements, and their insurtech developers needed minimal supervision. What stood out was ScienceSoft's proactive suggestions for cost-saving architecture design and tech stack solutions. Their input ensured we stayed within budget without compromising on software quality. The value we derived from partnering with ScienceSoft is definitely worth the investment.

Partnering with ScienceSoft has been an excellent experience. Their team transformed our underwriting platform into a well-oiled machine. They identified and fixed several longstanding issues that had been causing us persistent difficulties. Their communication was exemplary; unlike our previous experiences with outsourcing, we never had to chase them for updates, and they were always prompt in responding to our queries.

We are impressed with ScienceSoft’s pragmatic project management, quality-first mindset, and transparent communication. Their solution architects, developers, and QA engineers are true experts in their fields and have always readily shared their knowledge. They are strongly motivated to deliver maximum value with their services and went above and beyond for us.

Specialized Solutions for Various Insurance Lines

ScienceSoft delivers tailored software that meets each insurer’s unique service scope. Here are some examples of specialized solutions you can obtain:

By insurance model

Keep your insurance solutions aligned with the fast-paced digital transformation happening across industries. Early adopters of innovation can attract a larger share of the younger, tech-savvy audience and drive significant revenue growth.

We develop digital solutions to support innovative insurance models, including:

By insurance type

Different types of insurance come with varying levels of workflow automation potential and specific requirements for third-party integrations. To ensure maximum return on your digital investment, your solution must be perfectly aligned with your unique service needs.

We provide tailored software solutions for the following insurance types:

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.
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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.
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Insurance IT solution development

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  • 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.
  • Knowledge sharing with the customer's IT teams and software users.
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Outsourcing of specific IT functions

ScienceSoft offers to handle separate IT functions to optimize the quality and costs of insurance operations and provides:

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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.
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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:

Our Strategies to Boost Insurance Customer Digital Experience

Seeking to Elevate Insurance Customer Digital Experience? Here’s Where You Should Start

Explore the insurance-specific activities and tools we apply at early customer journey transformation stages.

Six Digital Customer Experience Strategies Insurance Companies Must Prioritize in 2024

Learn ScienceSoft’s six surefire strategies to introduce top-of-the-line digital experience for insurance customers.

3 Effective CRMs for Insurance Agents: Features and Limitations

Discover the key features, benefits, and limitations of market-leading insurance CRM tools we help implement.

Make Your Insurance Services Effective With Technology

  • 20–50%

    reduction in application launch time due to mature processes

  • 5–35%

    decrease in IT operating costs due to gaining access to professional expertise

  • 99.99%

    IT service availability due to proactive IT maintenance and 24/7 support

  • 50%

    faster claim processing due to workflow automation

  • 80–90%

    increase in the accuracy of insurance processes due to eliminated manual errors

  • 100%

    regulatory compliance due to robust security features