ScienceSoft Global
How Much Will Your Insurance IT Project Cost?
Explore the cost of your digital initiative with our specialized cost calculators and learn whether ScienceSoft’s pricing fits your budget.
Thanks to the transparent, flexible pricing models, our services have proven accessible to entities of any size, from insurtech startups to global carriers.
Cost Calculators by Solution Type
Click on the card to reach the cost calculator for your required solution type.
Core insurance solutions
Value-adding technology solutions
Explore Our Sample Cost Ranges
Insurance software engineering costs
- $150,000–$250,000 A native mobile app (e.g., for insurance customers, field agents) built on the existing back end.
- $150,000–$400,000 A multi-party web app (e.g., an insurance portal, a web insurance marketplace).
- $250,000–$600,000 A specialized operations solution for a particular type of insurance, featuring traditional automation with static and ML-powered analytics (e.g., risk scoring software, claims management software).
- $600,000–$1,500,000+ A fully-featured insurance blockchain system that comprises a multi-party transactional network, automation smart contracts, and role-specific apps.
- $600,000–$1,800,000+ A large-scale custom system that handles end-to-end operations across a particular insurance area (e.g., underwriting, claims processing and settlement). The system offers automation, analytics, and assistive features powered by AI, including GenAI. Major cost drivers include the number of supported insurance types and products, the complexity of integrations, as well as compliance requirements across service regions.
Data analytics and AI service costs
- $30,000–$250,000 Engineering a niche data analytics component (e.g., predictive analytics models, fraud detection algorithms, an optimization engine). The final cost will depend on the chosen type of algorithms.
- $100,000–$250,000 Implementing a statistical analytics platform for a particular insurance area (e.g., sales, underwriting, compliance).
- $250,000–$450,000 Building an area-specific predictive analytics solution powered by tailored statistical and non-neural-network machine learning models.
- $300,000–$600,000 Developing a business intelligence (BI) solution that calculates KPIs across multiple insurance business areas (operations, finance, CX, etc.) and features intelligent diagnostic and predictive analytics.
- $600,000–$1,000,000+ Creating a large-scale, real-time insurance analytics system powered by AI/ML, including deep learning and generative AI.
Security and compliance costs
- $10,000 One-time penetration testing of a client-facing app (e.g., an insurance portal, a mobile claims app).
- $8,000–$16,000 Code review of an internally used insurance solution (e.g., underwriting, claims processing).
- $10,000–$20,000 Compliance pre-audit (against GLBA, NYDFS, GDPR, HIPAA, or other regulatory frameworks).
- $20,000 One-time network security testing for a mid-sized insurance organization.
- $40,000+ A phishing campaign combined with white box insurance IT infrastructure pentesting.
- $45,000 QRadar implementation and user training for an insurance organization with 1K–10K employees.
QA and testing costs
- $5,000 One-time performance testing for an insurance mobile app.
- $24,000–$72,000+ Audit of insurance software QA processes and consulting on improvements.
- $20,000/month Continuous managed testing services for an insurer that has 3–5 iteratively evolving solutions.
Managed IT support prices
- $14–$40 per ticket L1–L2 IT support.
- $3,000–$16,000+/month Insurance software maintenance and L3 support.
Why Insurance Organizations Choose ScienceSoft
- Since 2005 in full-cycle IT services for the insurance industry.
- Insurance IT and compliance consultants (NAIC, HIPAA, GDPR, SOC 1/2, etc.) with 5–20 years of experience.
- 45+ certified project managers (PMP, PSM I, PSPO I, ICP-APM) who succeeded in large-scale projects for Fortune 500 firms.
- Principal architects with hands-on experience in designing complex insurance automation systems and driving secure implementation of advanced technologies.
- 350+ software engineers, 50% of whom are seniors or leads.
- Established practices to ensure the high quality of insurance solutions and their delivery on the agreed timelines and budget despite constraints and risks.
Our Clients Share 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.
