Insurance portal development: features, benefits and solution overview
the estimated size of the global digital insurance industry by 2026
Global Industry Analysts
of the cost of a claim journey can be reduced through automation
McKinsey
of new motor, property, and travel insurance sales to be digitally influenced by 2023
Forrester
Looking for a reliable insurance portal provider?
Main features of insurance portals
Manage the company's relationship with potential and existing customers, optimize processes, and improve the entire customer lifecycle.
- Customer onboarding
- Self-service capabilities
- Collaboration automation
Quote and policy management
Manage an entire policy lifecycle, support all processes from underwriting to renewals, and deliver timely information to agents.
- Quote-to-policy conversion
- Underwriting and premium calculation
- MTAs, renewals, and cancellations
Underwriting support
Review insurance applications, assess the applicant's insurance risks and the amount of coverage those risks require.
- Client-level reporting
- Product-section analysis
- Rate monitoring
Products and tariffs
Control rates, track risks, and offer the best personalized insurance plans to customers.
- Product configuration
- Risk factors, excess and risk objects
- Commissions and taxes definition
Inquiry management
Make the insurance agent's responses fast, timely processing each request depending on their content and urgency.
- Priority assignment
- Payments history tracking
- Claims management
Claim management
Streamline claims processing, from checking their eligibility and approval to creating transaction reports.
- Online claim registration
- Claim settlement and recoveries
- Payment allocations
Allocate insurance liabilities to another insurance company and reduce risk exposure while lowering equity requirements.
- End-to-end process management
- Proportional and non-proportional reinsurance
- Excess of loss, quota-share, surplus
Documents management
Easily search up and manage all necessary insurance documents. Save time, increase security, and reduce the risk of misplacing or losing data.
- Online document and form management
- Document storage
- Creation of policy documents, claims and invoices
Marketing management
Evaluate customer needs, track important marketing metrics, and create engaging campaigns to grow policy sales.
- Sales monitoring
- Cross-selling and up-selling forms
- Campaign management
Accounting and financial reporting
Collect transaction data, categorize it and use the most suitable accounting plan for your business.
- Reserves calculations and tracking
- Regulatory reporting, analytics and BI
- Payment and settlements
Types of insurance portals
Self-service portal
A self-service portal allows customers to log into their accounts and access their policy information. It also benefits insurance companies, saving them time on routine service tasks and helping meet customer expectations.
Agent and broker portal
A dedicated web portal for brokers, partners, and agents allows them to collect and view data on insurance policies and application statuses all in one place. Streamlined processes will increase operational efficiency and facilitate new deals.
Underwriting portal
An underwriting portal organizes insurers and connects them with brokers and clients. Insurers can interact with clients to manage business promotions and online policy sales to deliver a best-in-class experience.
Affiliate partner portal
An affiliate partner portal provides the partners of an insurance organization access to the most relevant offers and opportunities as well as helpful resources.
Insurance comparison portal
Insurance policy comparison portals allows customers to compare different insurance policy offers for certain categories and see which one provides the best premium rates.
Insurance MGAs and MGUs portal
This insurance portal is used by managing general agents (MGAs) and managing general underwriters (MGUs) who are appointed by insurer firms to collect applications from agents and manage insurance contracts.
Our insurance portal development services
Our team creates custom and platform-based portals that bring insurance agents and customers together. We can also keep your current solutions running or improve them based on your business needs.
Platform-based portal development
We can create an insurance portal based on best-in-class platforms relative to your requirements. We will advise you on suitable platforms, configure the system, add the necessary features and implement the solution in your business environment.
Custom insurance portal development
Our team builds custom insurance portals from scratch to meet all your unique requirements. We build prototypes, create UX/UI design, develop the portal’s back-end and front-end, test and implement the solution in your corporate environment with the necessary configurations and integrations.
Migration
We migrate your insurance portal from a legacy environment to a future-proof one, more suitable to your evolved needs. Our team will set up and configure the target platform, carry out secure data migration, and integrate it with other enterprise software.
Modernization
Our team can rebuild an existing insurance portal, modernize it for your new business requirements, and improve its performance. We can update the UX/UI, implement new features, and refactor its source code.
Insurance portals: to build or to buy?
Custom portal
If you choose to develop an insurance portal from scratch, you can make sure it has a custom infrastructure and features tailored to your needs and workflows. Other benefits of a custom solution include:
- Branded UI/UX
- Features added on-demand
- Customization
- High scalability
Platform-based solution
There are many off-the-shelf portal solutions for the insurance industry available on the market. If you invest in a ready-made portal solution and integrate it with your key systems, you can reap the following benefits:
- Fast implementation
- Regular updates
- Lower cost
- Faster time to market
Client spotlight: solutions we've built
ÂŁ1 million
in Series A funding
SaaS platform for claim management
We developed a highly configurable and scalable SaaS solution to manage the full life cycle of insurance claims and policies for a UK startup.
54%
leads growth
Salesforce CRM for a US insurance buyout agency
We deployed and customized a Salesforce-based CRM solution, helping the customer increase its client management productivity and the number of leads.
Advanced automation
of insurance workflows
Insurance workflow management system
We have improved the insurance workflow management system by implementing extended automation features, including calculations, reporting, and PDF document generation and customization.
For millions of children
eligible for health insurance
Health insurance management platform
We implemented a financial module into the insurance management platform used by US government employees to serve millions of children eligible for CHIP low-cost health coverage.
ÂŁ1 million
in Series A funding
SaaS platform for claim management
We developed a highly configurable and scalable SaaS solution to manage the full life cycle of insurance claims and policies for a UK startup.
54%
leads growth
Salesforce CRM for a US insurance buyout agency
We deployed and customized a Salesforce-based CRM solution, helping the customer increase its client management productivity and the number of leads.
Advanced automation
of insurance workflows
Insurance workflow management system
We have improved the insurance workflow management system by implementing extended automation features, including calculations, reporting, and PDF document generation and customization.
For millions of children
eligible for health insurance
Health insurance management platform
We implemented a financial module into the insurance management platform used by US government employees to serve millions of children eligible for CHIP low-cost health coverage.
ÂŁ1 million
in Series A funding
SaaS platform for claim management
We developed a highly configurable and scalable SaaS solution to manage the full life cycle of insurance claims and policies for a UK startup.
54%
leads growth
Salesforce CRM for a US insurance buyout agency
We deployed and customized a Salesforce-based CRM solution, helping the customer increase its client management productivity and the number of leads.
Advanced automation
of insurance workflows
Insurance workflow management system
We have improved the insurance workflow management system by implementing extended automation features, including calculations, reporting, and PDF document generation and customization.
For millions of children
eligible for health insurance
Health insurance management platform
We implemented a financial module into the insurance management platform used by US government employees to serve millions of children eligible for CHIP low-cost health coverage.
Insurance portal integrations
Insurance portal integrations
CRM
ERP
CMS
PIM
Data analytics
We will connect your insurance portal with an enterprise CRM to help you use existing and potential customer data from across various channels and create more personalized offers, promotions, and user experiences.
ERP
Our team will integrate the portal with your corporate ERP system to organize insurance data into an accessible structure, facilitate business process management and optimize decision-making.
CMS
With CMS integration, you can manage, add and modify web portal content, create pages of different formats using simple data widgets, and efficiently administer the site.
PIM
Integration with PIM ensures consistency and visibility of up-to-date insurance information in the portal and other business systems. Due to the integration, customers can view the latest policy and insurance information at any time.
Data analytics
We can integrate analytics features into your insurance portal that will collect up-to-date client data, track portal performance and changes in customer behavior, and predict trends, helping you make data-driven decisions.
Create a custom insurance portal with Itransition
Benefits of insurance portals
Improved customer retention
You can increase retention rates with features like automatic reminders and offers to purchase insurance products.
Enhanced data safety
The availability of verification and encryption technologies in the portal will keep sensitive data secure.
Operations optimization
Using the insurance portal, you can automate underwriting and customer service claims processing, reducing the risk of errors.
Customer analytics
You can analyze customer actions to offer more appropriate, personalized insurance products with better risk coverage.
Easy data access
Portal users can log into their personal account and get an overview of their insurance information at any time.
Personalized customer experience
Customers get personalized services, customized insurance products, flexible coverage and support at every touchpoint.
Transparent claim approval process
Customers can track each step of their claims approval with real-time progress indicators and notifications.
24/7 support
With an insurance portal, customers can get support regardless of time or location through a website or a mobile app.
Common challenges with insurance portals
Challenge
Solution
Complex implementation
To simplify insurance portal implementation for your IT team and staff, you should start with a technology audit and develop a comprehensive strategy for portal development and implementation, insurance data migration, customization of the solution to the business needs, and integration of all legacy and new systems like CRM, PIM, or CMS.
High total cost
In addition to portal development costs, you must consider consulting and advisory services, support and maintenance costs, and security expenses. Before the development, companies should also justify how well the planned insurance portal meets their needs, and if it proves too expensive, what adjustments can be made to lower its cost.
Lack of digital agility
To prepare for insurance portal adoption, companies should carefully assess their ability to quickly adapt to changes in operations, such as how soon they can get used to the automation of routine tasks. To speed adaptation, companies can also develop training programs to upskill insurance agents.
Low digital literacy
Insurance agents would need to possess some technical skills to work with the portal. If the company’s digital literacy level is low, they can develop a training plan to ensure that employees upgrade their skills to work with different tools within the portal.
Related services
Data analytics
We deliver data processing and analysis solutions so you can make key decisions and identify new opportunities for business growth.
Cloud consulting
We provide seamless software migration to the cloud platform of your choice and offer cloud development and redesign services.
Mobile enablement
We create portals that work seamlessly on any device while maintaining full functionality. Our team can also create a mobile application while saving all management structures.
Cyber security consulting
We build cyber-resistant and secure IT ecosystems for all types of organizational assets. Our goal is to help build an organization's overall security policy.
FAQ
Can you build a mobile-friendly insurance portal?
Depending on your needs, we can either create an insurance portal optimized for mobile devices or develop a separate mobile application with the necessary portal functionality.
What is the cost of insurance portal development?
The cost of insurance portal development depends on several factors, such as:
- the solution’s complexity
- business requirements
- design
- development time
- implementation of advanced functionality
- development of a mobile solution
- integration with other business systems
Each case is unique, please contact our consultants to get a rough estimate.
How can I promote my insurance services?
An insurance portal is a good tool to promote insurance services, increase brand awareness and customer loyalty, improve user experience, automate cross-selling, up-selling, and attract new clients.
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