Custom Life Insurance Software
ScienceSoft applies 12 years of experience in insurance software development to build effective and secure life insurance systems.
Life Insurance Software in a Nutshell
Life insurance software streamlines the entire life insurance cycle, from application processing and underwriting to policy issuance and claim payouts. Such systems can also cover loan management and investment management functions to facilitate operations with the policyholders’ funds.
Custom life insurance software enables carriers to automate specialized workflows of any complexity, including innovative ones like short-term life insurance and pay-as-you-live life insurance.
Often, insurers also go for custom systems to benefit from:
- AI-supported underwriting and claim processing.
- Advanced data protection and software compliance with the local standards.
- Easy software evolution to support sustainable business growth.
- Seamless integration with legacy tools or third-party systems.
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Key Features of Life Insurance Software
ScienceSoft creates life insurance solutions with unique capabilities tailored to our clients’ needs. We deliver software that safely automates various types of life insurance, including:
By policy duration
- Term life insurance: decreasing, convertible, and renewable term life insurance.
- Permanent life insurance: whole life insurance, indexed universal life (IUL) insurance, variable universal life (VUL) insurance, and burial insurance.
By the number of insured subjects
- Individual insurance, including key person insurance for businesses.
- Group insurance, including family member insurance and employee insurance.
Specialized rider types
- Disability income riders.
- Accidental death benefit riders.
- Waiver of premium riders.
- Accelerated death benefit riders.
- Long-term care riders.
- Guaranteed insurability riders.
Below, ScienceSoft’s experts share a comprehensive list of features that would form the core of a robust life insurance system:
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.