Insurance has seen a massive transformation over the years, and the credit goes to none other than-TECHNOLOGY!
Generally, we notice older people in our house buying insurance, making plans, and whatnot! Have you ever wondered why? It is mainly because insurance plans are mostly built keeping elderly responsibilities in mind. For instance, grown-ups take care of the properties, discretionary purchases, etc. But on the other hand, younger people are more invincible!
Surprisingly, a Europe-based startup has now introduced a platform named Hedvig that directly focuses on the insurance needs of millennials.
Do you want to know more? Keep reading!
Hedvig Bagged $45 Million to Expand the Insurance Service
Undoubtedly, millennial consumers are now inclined towards insurance mechanisms, being the primary reason for the introduction of the insurance app Hedvig.
The platform offers policies keeping in mind the needs and requirements of millennial consumers. Hedvig is a neo-insurer platform that provides travel, property, accident insurance, and more to adapt to younger people’s lifestyles.
Notably, the platform has secured $45 million in its Series B funding round that’ll be invested to fuel the growth of the startup.
Are you intrigued by the idea?
Indeed, anyone would be!
It has to be said that visionaries can introduce the best-selling ideas, and they do work in their businesses favor. However, many people struggle to present their uniqueness in front of the world, and here’s when professionals come into the picture!
Therefore, if you want to develop an efficient insurance service app for your customers, we’ll further highlight information on the same.
So, are you excited?
Insurance App Development: An Obligation for Insurance Businesses
Types of Insurance Apps
Before starting your insurance app development process, it is essential to figure out the type of application you want to build. Therefore, the categories for the insurance app are as mentioned below:
- Vehicle insurance
- Health insurance
- Life insurance
- Property insurance
- Travel insurance
Top 3 Trends of Insurance App Development
Do you want to witness your business skyrocket? Here are the top 3 trends you must know for integration:
- Chatbots
A chatbot is a tremendous feature when it comes to building exceptional benefits and interaction with the consumers. Users often face difficulty accessing something within the app or might raise queries that only the business could answer.
In this situation, it is vital for you to be available for them at all times. The chatbot technology can survey to collect user-related information and offer personalized experiences to them.
- Telematics
The idea behind the introduction of telematics is to offer car owners a GPS-integrated sensor, along with a tracking mobile application.
Why?
The technology will collect information regarding the user’s driving behavior to adjust the policy details and conditions accordingly.
- APIS
Many firms realize that if they hold a simple API, their insurance experience can extend tremendously.
For instance, an apartment renting app that comes with a built-in option for insurance. Therefore, the approach has enormous capability to simplify the app development process.
Cost of Insurance App Development
There’s no universal figure as to how much it will cost for the overall app development procedure. However, the cost can be estimated keeping a number of features in mind as they influence the total investment.
Some of these factors are as mentioned below:
- Choice of the platform
- Tech stack used
- Number of features integrated
- UI/UX design
- Developer’s cost
- Complexity of the project
- AND MORE!
In a Nutshell
Unquestionably, mobility will drive the future of the insurance business due to higher convenience. Therefore, it is vital for you to understand the importance of the same.
Now that we’ve solved your confusion about getting started and the process, connect with the best mobile app development company in Germany.
Why?
The team of experts will give you more insights into your idea and help you through the efficient app development process.
So, what are you waiting for?
Happy innovation!
