Insurance Software Development Services
What you get with ELEKS’ insurance software development
ELEKS' custom insurance software development services help businesses introduce digital innovations to transform customer services and optimize administrative costs. With decades of experience in the insurance sector, our solutions modernize front-office operations, accelerate claims handling, automate underwriting processes, and bolster cybersecurity and compliance, ensuring exceptional customer experience and regulatory adherence.
Global enterprises trust ELEKS for our robust expertise in software development, data science, AI, and cybersecurity. Our services offer reduced investment risk with MVP development and drive industry-leading technological innovation through ELEKS' in-house R&D lab. By partnering with us, you gain access to cutting-edge solutions that streamline your operations and enhance your competitive edge in the insurance industry.
We’ll partner with you to understand the unique needs of your insurance business, then we’ll help you test boundary-pushing ideas and verify whether your vision equates to value – for you and your clients. We’ll then document the outcomes so they’re straightforward to replicate, as and when you’re ready.
Our extensive experience in the Insurtech sector allows us to unpack even the most complex business requirements. So, we can help you build a roadmap that sets crystalline goals for achieving flawless product development and delivery.
A nearshore software development team will work collaboratively with you to define your project-level architecture, including design, infrastructure and data architecture. We’ll then move on to establish a robust product development life cycle that guarantees seamless and fast delivery.
Customer feedback
The business value of ELEKS' insurance
software development services
We’ll help you adopt AI-driven technology solutions that enable real-time risk assessment, while refining your catastrophe modelling software and enabling agile pricing to mitigate losses. Our data science team can provide advanced fraud analytics and automated risk management – beneficial for property and inland marine insurance firms.
51% of insurance firms cite compliance, fraud detection and data protection as a concern, according to Deloitte. Our clients never fail an audit. We help identify system vulnerabilities, develop mitigation plans and train your in-house talent to uphold security, long after we deliver.
The ELEKS team helps carriers, brokers, MGAs and MGUs to unlock the potential of legacy data and exploit real-time analytics to make better financial decisions. We utilise advanced capital modelling and dynamic financial analyses for capital markets, while improving performance and deploying top-level security through VPC.
We help insurance providers actively engage clients and drive traffic to their platforms by streamlining smart carrier/broker portals, AI-powered intelligent chatbots and mobile apps. We create simple and efficient architecture that tracks losses and behavioural patterns to keep your loss ratios profitable and your clients happy.
We build digital ecosystems that empower underwriters to do what matters most: offer exceptional customer experience and promote constantly expanding book of business. We develop underwriting platforms that flawlessly connect risk assessment and claims handling tools to ensure a fair and lightning-fast underwriting process.
Keep your compliance on track
ELEKS' Compliance Automation Platform allows highly regulated sectors like insurance consolidate and automate all their compliance efforts. Reduce the total cost of compliance, resolve issues and manage changes in regulations across your entire value chain.
The cutting-edge technologies we use
Data Science/Big Data Processing
Analytics and Visualisation
Predictive Modelling
Platforms and Microservices
Cloud
Internet of Things
Mobile
Our Insurance Software
Development Success
Insurance software development FAQs
Insurance software development allows businesses to introduce digital innovations that transform customer service, reduce administrative costs, modernize front-office operations, speed up claims processing, automate underwriting procedures, and strengthen cybersecurity and compliance. Insurance software enhances and optimizes various processes and tasks within the insurance industry, addressing both administrative and customer-facing functions.
Insurance software improves operational efficiency by automating tasks, cutting errors, and facilitating resource allocation. Automated workflows help reduce manual efforts, including claim intake and customer notifications, resulting in fewer mistakes and quicker operations. Digital solutions enable carriers, brokers, and MGUs to unlock the potential of their data and utilize real-time analytics to make better financial decisions through advanced capital modeling and dynamic financial analyses, while also tracking losses and behavioral patterns to maintain profitable loss ratios.
Common features in modern insurance platforms include policy management tools that simplify creation, renewal, and amendment of insurance policies. Also, there is claims management software that automates the entire claims lifecycle from submission to settlement with AI-driven fraud detection. Advanced platforms incorporate data analytics and business intelligence features, using complex data sets to enhance decision-making across risk assessment and trend forecasting.
The breadth of knowledge and understanding that ELEKS has within its walls allows us to leverage that expertise to make superior deliverables for our customers. When you work with ELEKS, you are working with the top 1% of the aptitude and engineering excellence of the whole country.
Right from the start, we really liked ELEKS’ commitment and engagement. They came to us with their best people to try to understand our context, our business idea, and developed the first prototype with us. They were very professional and very customer oriented. I think, without ELEKS it probably would not have been possible to have such a successful product in such a short period of time.
ELEKS has been involved in the development of a number of our consumer-facing websites and mobile applications that allow our customers to easily track their shipments, get the information they need as well as stay in touch with us. We’ve appreciated the level of ELEKS’ expertise, responsiveness and attention to details.