ScienceSoft Global
ScienceSoft Finance
Insurance Software Development Services
Since 2012, ScienceSoft has been working side by side with insurance market participants and technology vendors to co-create secure, interoperable software solutions that streamline complex insurance workflows and support innovative distribution and servicing models.
Our high-ROI, innovative insurance solutions earned us recognition for Insurance Digital Transformation Excellence by The Global Insurer.
Insurance software development services are meant to create tailored digital solutions that automate specific insurance operations across selected lines of business and jurisdictions. These services may span the design, engineering, support, and modernization of insurance software solutions.
- For insurers, intermediaries, and service providers, developing a custom insurance solution helps improve the efficiency and scalability of their specific operations by overcoming the functional, integration, and compliance limitations of off-the-shelf tools. Proprietary software often entails a lower TCO that commercial software products in the long run.
- For software product companies and startups, building an insurance software product is an opportunity to enter the rapidly growing digital insurance platform market with a brand-new technology solution.
ScienceSoft delivers robust insurance software that automates processes like underwriting, claim management, and policy administration and ensures seamless digital experiences for insurance customers, employees, and partners.
What Makes ScienceSoft a Trustworthy Insurance Software Development Company
- Since 2012 in custom insurance software development.
- Insurance IT and compliance consultants (NAIC, GDPR, IA, HIPAA, SOC 1/2, etc.) with 5–20 years of experience.
- Principal architects with hands-on experience in designing insurance automation systems with complex business logic and driving secure implementation of value-adding technologies.
- 350+ software engineers, 50% of whom are seniors or leads.
- 45+ certified project managers (PMP, PSM I, PSPO I, ICP-APM) who succeeded in large-scale projects for Fortune 500 firms.
- Established practices to ensure the high quality of insurance solutions and their delivery on the agreed timelines and budget, despite project constraints or uncertain requirements.
Our awards, certifications, and partnerships
Who We Serve
Third-party administrators
Distribution facilitators (NMOs, banks, embedded insurance partners, etc.)
Risk management providers
Reinsurers
Software to Support Insurance Digital Initiatives Across Diverse Lines of Business
By insurance type
Various types of insurance differ significantly in the potential volume of workflow automation and pose specific requirements for third-party integrations. To maximize payback from going digital, insurance market players need a solution that fully meets their unique service scope.
ScienceSoft delivers tailored software solutions for the following insurance types:
- Property and casualty (P&C) insurance.
- Life insurance.
- Health insurance.
- Auto/motor insurance.
- Homeowners insurance.
- Flood insurance.
- Commercial insurance, including general liability, professional liability, commercial property, commercial auto, workers' compensation, environmental, aviation, marine, energy, and engineering insurance.
By insurance model
Insurance software should be designed to agilely accommodate emerging coverage models so insurers can meet the rapid pace of industry-wide transformation. Those who will be among the first to innovate should expect to win a larger customer share and outplay competitors in revenue growth.
ScienceSoft creates digital solutions that support innovative insurance models, including:
- P2P insurance.
- Microinsurance.
- Short-term insurance.
- Parametric insurance.
- Usage-based insurance.
- Pay-as-you-live life and health insurance.
The market for embedded insurance solutions evolves rapidly, disrupting traditional policy distribution channels and enabling non-insurance businesses to upscale their products and services with a one-stop insurance offering. Our team can engineer robust embedded insurance software that smoothly integrates insurance flows into the non-insurance sales process and helps companies introduce innovative customer experiences.
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.
Software That Can Transform Insurance Processes End to End
Whether you need software to digitalize one specific insurance operation or a multi-functional solution to drive value across the entire insurance ecosystem, we’ve got you covered. The examples of custom insurance software we create include:
All-in-one software that automates the entire insurance cycle for the required product lines. The software offers role-specific interfaces and may include the functionality of a customer portal.
Value: Up to a 50% reduction in employee workload, enhanced team performance, operational cost savings of 10–25%, potentially reaching 30–50% with AI-powered automation.
Solutions enabling automated calculation, precise forecasting, and clear visualization of insurance metrics. They can provide intelligent suggestions on optimal insurance decisions.
Value: Accurate identification of inefficiencies and improvement opportunities, 10–20% growth in profitability due to analytics-based decisioning and workflow optimization.
Software that enables automated insurance application processing, risk assessment, and premium calculation. It can provide optimal, analytics-driven insurance pricing.
Value: Up to 40% decrease in underwriting costs, 10–15% increase in revenue due to optimized insurance pricing, and decision-making in minutes rather than days.
Software that automates the entire policy lifecycle, from issuance to termination. It provides rule-based recordkeeping and centralized storage of all policy-related data.
Value: 95% faster policy issuing, updating, and renewal, 40%+ increase in admin productivity, up to 60% reduction in policy administration costs.
Software that offers automated calculation of personalized premiums and customer invoicing. It supports e-signing of invoices and enables real-time processing of multi-currency payments.
Value: Up to 80% decrease in billing-related costs, 2–3x faster billing process.
Software that automates claim management processes end-to-end, from claim data intake to claim settlement and reporting. It enables AI-based claim validation, damage estimation, and fraud detection.
Value: ~30% decrease in claim processing costs, 80%+ faster claim cycle.
Software that introduces seamless digital experiences for insurance clients, employees, and partners. It automates tedious manual operations, provides secure access to the required data, and offers AI-powered user support.
Value: Improved operational efficiency for insurance teams, up to 4x faster servicing, higher customer satisfaction.
Web and mobile apps that automate insurance application processing, premium payment, and policy issuance, enable prompt interaction and secure data sharing between the insurance organization and its customers.
Value: 89% increase in customer engagement and 81% improvement in retention rate, which results in higher revenue.
Software that helps insurance agents easily manage policy sales and marketing campaigns. It automates insurance application processing and policy issuance and provides complete visibility of customer interactions.
Value: Increased policy sales volume and speed, enhanced customer satisfaction.
AI-powered copilots used to automate data search and analytics workflows, support insurance teams’ underwriting and claims decisions, and handle routine customer interactions.
Value: 30–110%+ productivity gains for insurance teams, up to 40% reduction in operational costs.
Insurance marketplaces
Digital platforms that facilitate product promotion for insurers and help customers find the optimal insurance offerings.
Value: An opportunity for the marketplace owner to achieve rapid and high ROI by launching and monetizing a popular insurance solution.
Agency management software
Software that enables analytics-based planning and real-time monitoring of agents’ activities. It keeps a full audit trail of agent-customer interactions and provides comprehensive agency performance analytics.
Value: 100% visibility of agency-wide insurance operations, streamlined planning of agents’ workload.
Software that provides a comprehensive toolkit for insurance risk model design and management. It automates actuarial calculations, insurance pricing, and disclosure reporting.
Value: Up to 50x faster actuarial modeling, 1.5–5x increase in the actuaries’ productivity.
Software that enables real-time evaluation of insurance risks and their impact. Such solutions can be powered with AI to get data-driven guidance on the optimal risk prevention steps.
Value: 360-degree view of company-specific risks, fast and accurate risk mitigation planning.
Software that streamlines bookkeeping, general ledger management, capital and claim reserve planning, disclosure reporting, and other insurance accounting workflows.
Value: 3x+ improvement in insurance accountants' productivity, up to 12x faster payments, 100% compliant financial reports.
Software that automates insurance-related data validation and enables analytics-based detection of customer fraud and malicious employee activities.
Value: 20-40%+ improvement in fraud detection accuracy, 5x lift in investigator capacity, up to 50x faster fraud spotting.
Insurance compliance management software
Software that enables real-time monitoring of the insurance operations’ compliance with the company’s internal policies and up-to-date regulatory requirements, including local standards.
Value: Enhanced operational transparency, simplified regulatory adherence, minimized compliance risks.
Planning or running an insurance software initiative?
Whether you're starting a new project or optimizing existing solutions, our insurance IT experts are ready to discuss your needs and co-shape a pragmatic, risk-aware action plan.
Access to the right open finance data lets insurers speed up customer onboarding, improve risk assessment, tailor coverage more precisely, and make real-time claims payouts to customer bank accounts while minimizing fraud exposure and payment failures.
If you want the same benefits, ScienceSoft can connect your quote-to-bind tools, PAS platform, and claims system to trusted data sharing rails like Plaid, Mastercard Open Banking/Finicity, and Yodlee, as well as task-specific APIs, for instance, Canopy Connect for policy verification, PerilPulse for risk scoring, or Middesk for KYC.
Choose the Service Option That Best Fits Your Needs
Consulting on insurance software implementation
We help you define the right functionality, architecture, and tech stack for your solution, ensuring compliance and security from the start. Together, we shape a detailed roadmap with realistic time and cost estimates and a pragmatic risk mitigation plan.
Insurance product consulting
We work with you to design engaging interfaces and seamless user journeys, providing an interactive prototype to quickly test the product’s technical feasibility and usability.
End-to-end insurance software development
We handle engineering end to end — from design to QA and integration — while keeping delivery iterative and transparent. Beyond development, we support you with software documentation, employee training, and ongoing support.
Insurance software modernization
We can reengineer and rearchitect your existing solution, update its tech stack, move it to the cloud, and add new features, ensuring smooth adoption and cost efficiency. Our approach shortens the learning curve and prevents operational disruption.
Technologies for Custom Insurance Software
Programming languages
Back end
Front end
Front end Javascript frameworks
Mobile
Desktop
Low-code development
Databases / data storages
SQL
NoSQL
Cloud databases, warehouses, and storage
AWS
Azure
Google Cloud Platform
Other
Big data
AI
Machine learning platforms and services
Machine learning frameworks and libraries
Platforms
DevOps
Containerization
Automation
CI/CD tools
Monitoring
Blockchain
Smart contract programming languages
Frameworks and networks
Cloud services
Technologies That Can Reinforce Your Insurance Solution
Click on the cards below to explore the technologies ScienceSoft implements to bring additional value across insurance workflows.
See How Agentic AI Transforms Insurance Claims
Watch how ScienceSoft’s custom AI agent applies voice intelligence and advanced sentiment analysis to uncover fraud during conversational claim verification. Built on AWS Bedrock AgentCore and powered by OpenAI’s leading LLMs, the agent boosts investigator capacity by over 40% and drives 20%+ higher fraud detection rates through nuanced discrepancy indicators.
Your Benefits From Engineering Insurance Software With ScienceSoft
Follow the links below to explore the descriptions of project management and engineering practices behind our success-driven approach to insurtech software development. If you're wondering how ScienceSoft's practices will work in your case or have any other questions about your endeavor, feel free to contact our consultants.
Cooperation model that fits your needs
- Full outsourcing of insurance software development.
- A dedicated team to take over a part of your project.
- Team augmentation with our best talents (from 0.5 to 150+ FTEs).
- Selecting the best-fitting resources for various cooperation scenarios.
- Mature practices of joint planning, decisioning, and problem-solving.
- KPI-based cooperation.
- Regular reporting.
- Consistent knowledge sharing (check sample software documents we deliver).
Prompt and predictable development
- Quick project start (1–2 weeks).
- Accurate scoping and cost estimation.
- An MVP of insurance software in 3+ months.
- Systematic risk control and mitigation.
- Agile implementation of changes.
- T&M, T&M with a cap for consulting and agile development.
- Fixed price for MVP development.
- Monthly subscription fees for support activities.
achieved by designing a secure architecture for the insurance solution, implementing UBA, multi-factor authentication, authorization controls for APIs, data encryption, and more.
Insurance Software Development Costs
From ScienceSoft’s experience, the cost of insurance software development services may range from $120,000–$180,000 (building a mobile insurance app of average complexity) to $1,000,000–4,000,000+ (creating a large-scale insurance automation system powered with advanced techs).
Want to know how much your insurance software will cost?
Get to Know the Cost of Your Custom Insurance Solution
Please answer a few simple questions prepared by ScienceSoft's consultants — within 24 hours, our team will carefully review your project details and calculate a free custom quote.
Thank you for your request!
We will analyze your case and get back to you within a business day to share a ballpark estimate.
In the meantime, would you like to learn more about ScienceSoft?
- Project success no matter what: learn how we make good on our mission.
- Since 2012 in insurance IT services: check what we do.
- 4,200+ successful projects: explore our portfolio.
- 1,400+ incredible clients: read what they say.
Insights From ScienceSoft's Insurance IT Experts
Vital Soupel
Senior Insurance IT & AI Consultant, ScienceSoft
Trend watch
Q1 2026 Insurance Artificial Intelligence Trends | Apr 2026
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
Featured Expert Talk
AI Agents for Insurance Claims Fraud Detection | Presentation at ITS 2025
Presentation by Vadim Belski, Head of AI and Principal Architect at ScienceSoft, from the 2025 Insurance Transformation Summit in Boston. Vadim explores the potential of agentic AI in insurance and demonstrates how voice AI agents can streamline conversational claim verification and enhance fraud detection through voice intelligence and advanced sentiment analysis.
