How to Choose the Right Custom Insurance Development Company?

4 min readJul 31, 2023

Due to the increasing promotion of insurance services in developing countries, the market size of insurance software is expected to grow by US $6.45 billion between 2022 and 2027. As the market is rapidly evolving, custom insurance software development is undergoing major changes. If you want to avail software development services, this ultimate guide is what you need to get started.

Things to Know Before Hiring Insurance Software Developers

Whether you want to revamp an existing software or develop one from scratch, you should take some things into consideration before choosing a custom insurance development company. Here are some things you need to know:

  • Knowledge: The developers must have up-to-date knowledge of software development. They must be proficient with your choice of tech stack and coding languages. Their technical know-how must be complemented by logical thinking abilities.
  • Experience: Before choosing insurance software development services, you must ensure they have relevant experience and expertise. A software development partner with prior experience in your industry is often the best choice.
  • Intellectual Property: An essential aspect to consider when choosing a development partner is who will own the intellectual property when the project gets completed. By default, the IP stays with the developer. If you want to have ownership of intellectual property, then you need to communicate it explicitly.

5 Pointers for Picking the Right Custom Insurance Software Development Company

1. Do Not Underestimate Client Testimonials and Reviews

Making the wrong choice of a custom insurance software development company can have a catastrophic impact. The grave implications could translate to massive time and money loss. Hence, you need to be careful while making the selection. Explore different online resources and check the profiles of the software development companies in your area. You should check the vendor’s ratings, average charges, project size, size of staff, years of experience, etc.

Moreover, you need to check out how the company’s past customers feel about the app development services/ There are a number of websites that list client reviews and ratings.

2. Security of the Software

A number of business users fail to account for security and stability when developing software applications. A small loophole or a breach in security can prove to be risky to the business and the critical information stored in the app servers. Therefore, you should ensure that the insurance software development services provider takes security seriously. The company must be capable of taking care of all security considerations during the design and development process. The developers should have expertise in making robust insurance software development solutions that are immune to security vulnerabilities and threats like unauthorized access and theft.

3. Effective Time Management

You need to make sure that the software development company you pick offers a timeline that suits your needs. You should compare the estimated delivery time of different vendors. Check for their availability and ask about the projects that are currently in their pipeline. Document all the processes along with the timelines for each of them. This may prevent the development service provider from violating the deadlines and push them to deliver the solution in a timely manner. Pick a reliable team of professional developers who won’t waste your time and resources, but work hard to stick to the timelines.

4. Long-Term Partnership

The deployment of the software does not mean the app development process has culminated. The end-users will offer feedback on the application, and the development company will then work on incorporating new functionalities, improving functionalities, boosting performance, and making the user interface friendlier. Moreover, maintenance is crucial after development.

Pick a custom insurance software development company that can be your partner for the long term and offers post-development support. End-to-end application development services include post-deployment support as well. Ask the company if it works on updating the software or fixing bugs and glitches after the initial development is over and the solution is released.

5. Proper Quality Assurance and Testing Measures

A successful release of software is more valuable than speedy development or low development costs. Hence, the developer must offer software testing and quality assurance. Considering how complex modern software applications are, it is difficult to envisage a situation wherein the development process can forgo testing. Nonetheless, at times, the wrong approach to QA and testing causes unsuccessful app launches. The developer you hire must be able to perform proper testing. The development team should include QA experts who can make sure that each tab and flow created in the application is functioning as it should. Practical testing allows them to pinpoint the loopholes and make fixes accordingly.

Concluding Thoughts

Developing custom insurance software calls for significant investment. To ensure timely and efficient results, picking the right custom insurance software company is crucial. Find a team that is a good match for your project and take time for evaluating various options. We hope that the points mentioned in the guide will help you make the right decision.




Faheem is an InsurTech specialist & a passionate Insurance Technology Blogger with remarkable experience of 17 years, working with clients all across the globe.