ScienceSoft Global
Insurance IT Solutions and Services
In insurance IT 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.
IT services for insurance cover technology consulting, software design and engineering, IT support, quality assurance of insurance systems, and more. They aim to help insurers boost business productivity, enhance customer experience, and optimize operational and IT costs.
ScienceSoft’s team analyzes the specific needs of insurance companies and implements tailored solutions that streamline lead generation, enhance the efficiency of application processing and claim management, and simplify compliance with the required standards and regulations.
Meet ScienceSoft, a Reliable IT Partner for Insurers Globally
- Since 1989 in software consulting and engineering.
- Since 2012 in full-cycle IT services for the insurance industry.
- Insurance IT consultants and project managers with experience in large-scale projects for Fortune 500 companies.
- Compliance experts with 5–20 years of experience to guarantee insurance software compliance with FIO, NAIC, SOX, CCPA, NYDFS, GDPR, SAMA, IA, and more.
- Principal architects with hands-on experience in designing complex insurance solutions and driving secure implementation of advanced techs.
- 350+ software engineers, 50% of whom are seniors or leads.
- Quality-first approach based on an ISO 9001-certified quality management system.
- Robust security management supported by ISO 27001 certification.
IT Solutions for Insurance We Deliver
Custom IT solutions by ScienceSoft help insurance companies improve overall business efficiency and introduce excellent customer experience. We can engineer one or several of these specialized insurance solutions, as well as build a full-featured insurance business automation system:
- Insurance application processing.
- Risk assessment.
- Actuarial and 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 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.
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 data and document processing supported by large language models (LLMs).
- 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.
Our 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.
Damien Sewell
Head of IT Projects
ScienceSoft’s quick buy-in and readiness to take the initiative made the project faster and less stressful for everyone involved, from Capital IM’s insurance specialists to leadership. At the end of a short yet highly productive two months, we got a secure and wholly owned property insurance solution that is fully adapted to Capital IM’s corporate practices and brand book. We couldn’t have asked for a better IT partner.
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 engineer digital solutions to support innovative insurance models, including:
- P2P insurance
- Microinsurance
- Short-term insurance
- Parametric insurance
- Usage-based insurance
- Pay-as-you-live life and health insurance
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.
- Data and transaction traceability, 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 engineering
- Suggesting optimal insurance solution features, architecture, and tech stack.
- Project resource, time, and cost estimates.
- Insurance software development.
- Integration with the required systems, including internal tools, partner systems, third-party services and data sources.
- Quality assurance of the insurance solution.
- Continuous support and evolution of the insurance solution (if required).
- Designing a tailored 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.
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.
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:
Insights From ScienceSoft's Insurance IT Experts
Zaryna Babko
Insurance IT Consultant and Lead Business Analyst, ScienceSoft
Technology overview
How to Excel at Customer Experience in Insurance
Olga Vinichuk
Insurance IT Consultant and Lead Business Analyst, ScienceSoft
Research
Behavior-Based Insurance in Life & Health Products
Olga Vinichuk
Insurance IT Consultant and Lead Business Analyst, ScienceSoft
Interview
How to Cut Health Insurance Operating Costs
Make Your Insurance Services Effective With Technology
Let Our IT Experts Enhance Your Insurance Operations
