Custom Features to Add
Policy management
We focus on creating custom policy management software to meet your business's unique needs, making it fit for streamlining policy creation, dissemination, and enforcement. The customized software can easily create, update, and distribute policies and procedures to employees. Ensure that everyone in your organization is always up-to-date.
Claims management
We help design software to handle all aspects of the claims management process, from initial claim submission to final resolution. As an insurance software development company, we aim to create software that allows managing claims, tracking their progress, and monitoring their status.
Payment Gateway
We are experienced in creating software designed to provide a seamless and secure payment experience for both merchants and customers. The smooth workflow makes it the ultimate solution for any organization looking to streamline and automate payment processing. At Devox, we utilize the latest encryption technologies to ensure that all transactions are secure.
Notification System
Our insurance software development company focuses on building platforms to streamline communication and improve engagement with customers. We help integrate a wide range of communication options to enable your business to reach the audience on any device. Customize the message and implement this useful feature into a number of solutions, such as CRM or ERP systems.
Personalized recommendations
Our insurtech software development services can help create software that uses advanced algorithms and artificial intelligence to analyze customer behavior and preferences to drive engagement and sales. Immense personalization drives increased conversion rates, customer satisfaction, and loyalty.
Chatbots
We can create chatbot software that uses advanced AI to provide a personalized customer experience, 24/7, and integrate them into any messaging platform, including Facebook Messenger, WhatsApp, and SMS. Chatbots can handle a wide range of customer inquiries, from simple questions about product features to complex troubleshooting scenarios.
Emergency services
At Devox Software, we offer to develop dispatch and communication systems that enable you to accurately assign emergency personnel to the scene. We also integrate real-time tracking and reporting to optimize and shorten the response time.
Integration with wearables
As an insurance software development company, we’re experienced in telehealth apps. We offer to develop software that enables seamless integration with a wide range of wearable devices, including smartwatches and fitness trackers.
Are you looking for top-notch insurance software? Devox Software can create a custom solution, tailored to your unique requirements.
Book a consultation!Why Security Is a Key to Your Success
Multi-factor authentication
Configurable data-level permissions
Role-based access control
Payment data encryption
Customer data retention and deletion policies
Industry regulations to follow
Our team ensures that your insurance software corresponds with all the industry regulations. Here are the regulations that the software developed by Devox is compliant with:
Insurance legislation standards
- GAAP (specifically ASC 606 and IFRS 15)
- SOC1 and SOC2
- SOX
- ZATCA regulations
Security standards
- PCI DSS (SDP, CISP, AIS)
- GDPR
- PA-DSS
- ePrivacy
Industry methods and workflows
- Central Limit Order Book (CLOB)
- IOI/RFQ/Quote (Negotiation)
- EMV
Digital signature regulations
- SES
- QES
- AES
- eIDAS
- SEPA
- PAdES
- AES-XTS
- NIST
Financial legislation
- AMLD
- MiFID II
- PSD2
- MiFIR
- AML/CFT
Services we offer
We provide customized insurtech software development services, including systems for policy management, claims processing, underwriting, risk management, and financial reporting.
Policy management
The policy management software we develop is an essential tool needed to streamline the company’s policy management processes, mitigate risks, and ensure compliance with required regulations.
- Compliance Policy Management Software
- Information Security Policy Management Software
- Human Resources Policy Management Software
- Environmental Health and Safety (EHS) Policy Management Software
- Quality Policy Management Software
Underwriting
Underwriting software can be used to evaluate and analyze risk when deciding whether to offer coverage and at what price. In insurance software development, it offers to evaluate applicants’ risk profiles with info from different sources.
- Life Insurance Underwriting Software
- Property and Casualty Insurance Underwriting Software
- Mortgage Underwriting Software
- Commercial Underwriting Software
- Cyber Insurance Underwriting Software
Claims processing
Claims management software is a must-have tool for any organization that wants to streamline its claims processing procedures. It can improve risk management and prevent future claims.
- Property and Casualty Claims Processing Software
- Workers' Compensation Claims Processing Software
- Auto-Claims Processing Software
- Liability Claims Processing Software
Risk management
The risk management software for insurance software development is crucial as helps to prevent income losses and keep the business afloat even in the hardest times. It enables identifying, assessing, and mitigating risks across business operations.
- Enterprise Risk Management (ERM) Software
- Operational Risk Management (ORM) Software
- Financial Risk Management Software
- Compliance Management Software
- Cybersecurity Risk Management Software
Financial Reporting
The financial reporting software enables businesses to generate accurate and comprehensive financial reports. It automates the process of collecting, analyzing, and reporting financial data.
- General Ledger Software
- Budgeting and Forecasting Software
- Accounts Payable/Receivable Software
- Financial Consolidation Software
Reinsurance Systems
This software allows insurance companies to manage their reinsurance activities. Reinsurance systems automate the process of managing reinsurance contracts, including data collection and risk analysis.
- Treaty Reinsurance Systems
- Catastrophe Risk Management Systems
- Facultative Reinsurance Systems
Want to know how to improve your business performance? Devox uses the latest technologies to ensure health insurance software development and enhance business value.
Book a meeting!We Take Insurance Software Development Process Off Your Shoulders
We follow the Software Development Lifecycle (SDLC) to ensure development flexibility. The step-by-step process allows for setting clear goals and deadlines and delivering a superior-quality product quickly.
Validate
- Clearing out the project ideas
- Defining project requirements
- Complying with industry regulations
- Getting the rough estimate
Plan
- Conducting a risk assessment
- Figuring out the development time
- Setting deadlines
- Getting the detailed estimate
Design
- Analyzing the competitors’ solutions
- Creating the visual concept
- Preparing the brand book
- Creating the design app screens
Develop and Test
- Building an app architecture
- Integrating required features
- Finding and fixing bugs
- Ensuring the app meets requirements
Assess Security
- Checking app compliance
- Testing multi-factor authentication
- Undergoing penetration testing
- Examining data protection
Deploy and Maintain
- Publishing the app
- Delivering software
- Supporting the product
- Improving software
Our Clients
Technologies we Use
- Front-end technologies
- Back-end technologies
- DevOps technologies
Case Studies
Function4
Event Management Platform, USA
Function4 is a USA-based professional event ecosystem that offers a simple, user-friendly discovery venue for the financial services sector. The enterprise event management software features a single, real-time dashboard with zero setup for event attendees, hosts, and sponsors. Function4 also provides discovery, data, and tools to help the right people discover the right events.
ActivePlace
Wellness social network and media platform with a marketplace feature, Australia
ActivePlace is a social platform dedicated to health, fitness, and an active lifestyle. It is a three-sided network that connects people with like-minded individuals, mentors, and businesses – all related to physical activity and healthy living. The company approached the development team to create a wellness app that would cater to different categories of users and provide personalized functionality to each member group. The main goal was to build a unique project from scratch that combined social media and marketplace features.
ILVE
Multifunctional showroom assistant for world known kitchen appliances manufacturer, Australia.
ILVE is a global manufacturer of gas and electric household cooking appliances with a reach across 40 countries worldwide. Since 1975, the company has been known as a niche brand specializing in developing an extensive range of built-in ovens and cookers for both commercial and domestic use. ILVE was looking to create a showroom assistant to increase the level of sales and make it smooth for the end client. Besides the end client-facing part, a variety of managerial dashboards were created to allow sales consultants and business managers to execute their functions and have everything controlled in one place.
Testimonials Client
The solutions they’re providing is helping our business run more smoothly. We’ve been able to make quick developments with them, meeting our product vision within the timeline we set up.
Listen to them because they can give strong advice about how to build good products.
We are a software startup and using Devox allowed us to get an MVP to market faster and less cost than trying to build and fund an R&D team initially. Communication was excellent with Devox. This is a top notch firm.
Their level of understanding, detail, and work ethic was great. We had 2 designers, 2 developers, PM and QA specialist. I am extremely satisfied with the end deliverables. Devox Software was always on time during the process.
We get great satisfaction working with them. They help us produce a product we’re happy with as co-founders. The feedback we got from customers was really great, too. Customers get what we do and we feel like we’re really reaching our target market.
I’m blown up with the level of professionalism that’s been shown, as well as the welcoming nature and the social aspects.
Devox Software is really on the ball technically.
Great job! We met the deadlines and brought happiness to our customers. Communication was perfect. Quick response. No problems with anything during the project. Their experienced team and perfect communication offer the best mix of quality and rates.
The project continues to be a success. As an early-stage company, we're continuously iterating to find product success. Devox has been quick and effective at iterating alongside us. I'm happy with the team, their responsiveness, and their output.
We hired the Devox team for a complicated (unusual interaction) UX/UI assignment. The team managed the project well both for initial time estimates and also weekly follow-ups throughout delivery. Overall, efficient work with a nice professional team.
Their intuition about the product and their willingness to try new approaches and show them to our team as alternatives to our set course were impressive. The Devox team makes it incredibly easy to work with, and their ability to manage our team and set expectations was outstanding.
Devox is a team of exepctional talent and responsible executives. All of the talent we outstaffed from the company were experts in their fields and delivered quality work. They also take full ownership to what they deliver to you. If you work with Devox you will get actual results and you can rest assured that the result will procude value.
The work that the team has done on our project has been nothing short of incredible – it has surpassed all expectations I had and really is something I could only have dreamt of finding. Team is hard working, dedicated, personable and passionate.
I have worked with people literally all over the world both in business and as freelancer, and people from Devox Software are 1 in a million.
Questions You May Have
What is insurance software development?
Insurance software is software designed to help insurance companies manage their business operations. It includes a suite of tools to manage the company’s policies, claims, billing, and other critical aspects of its business.
What are the benefits of custom insurance software?
Here are the benefits of custom-tailored insurance software:
- Increased efficiency of company’s performance
- Advanced data analysis accuracy
- Better customer service
- Enhanced security
- Scalability
- Competitive advantage
How much does it cost to develop custom insurance software?
The costs of services will vary as a lot of factors influence them. However, to develop such a solution from scratch you will most likely need to pay for 1,300 – 3,000 working hours of your developers. You can get outsourced development services in Eastern Europe where developers have lower hourly rates, or work with a company according to the suitable cooperation model and choose the pricing. In any way, it is worth getting in touch with your technology provider to calculate the cost.
How do you ensure security and privacy of personal data?
We tend to follow the latest security protocols and implement data encryption, multi-factor authentication, along with security measures to ensure the safety and privacy of your financial data.
How do you approach a financial software development project?
Our methodology entails evaluation of your needs and requirements, creation of a comprehensive project plan utilizing our technical and domain knowledge, deployment of solutions using an Agile approach, and thorough testing and quality assurance prior to release.
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