How Much Will Mobile Application Development Cost In 2020?

How Much Will CMMC Certification Cost My Business? | Pivot Point Security

One of the ways to enhance the productivity of a business these days is by presenting the services and products of the business through a mobile app be it Android, iOS, or some other. So what does a business require from that app? Profit, what else? Another question that comes to mind while choosing a specific app development team is the app development cost that the business will have to endure. Mobile app development cost, among other factors, plays an important role. If stats are to be believed there are more than 3 billion users worldwide as of today. Many of these users are having not only one mobile but more than one mobile – one for personal and one for office use. These mobiles have different types of apps installed that range from games, education, business, movies, and music apps (though there can be more categories as well). Let’s see how much of the amount does a business spends on getting a mobile app developed.

With the new year already in with different and upcoming new technologies for developing mobile apps, many of the businesses would be looking for a formula to calculate the mobile app development cost in 2020. However, there is no such formula when it comes to mobile app development. But just for the convenience of the users, the following formula might hold good to calculate how much does it cost to make an app.

Cost of Mobile App Development = (App Features * Time Taken) * Rate per Hour

STEPS INVOLVED

To begin with, let’s see the steps involved in the development of a mobile app.

Step I: Get a quote from various mobile app development teams and compare them. See who is offering more features at a reasonable price

Step II: Select the platform(s) you want your mobile app to be available on. It may be an Android, iOS, Windows, or even all. This will add to the development cost though.

Step III: Specify the functionality you want your app to perform.

Step IV: Specify the features according to Priority. This will reflect your business requirements.

Step V: Last, but most important of all, ask the developers to include features that a business app must have such as authentication and authorization.

COST ESTIMATION

Nearshore Benefits | Cost Savings | Sonora Software | Sonora Software - Your Preferred Software Development Partner

Having seen the steps, let’s start with each of the steps in detail.

  1. The Platform: Considering that you want your app to be available for AndroidiOS, or both, certain facts need serious thinking. The business needs to know which OS would benefit them more. Just saying iOS or Android does not fulfil the needs.

Android vs iOS, Which One Do You Actually Need? | Cashify Blog

Benefits

  • iOS: Astonishing but true. iOS cost less than Android as far as their development is concerned. iOS apps find their market with the upper class. Thus even paid apps are not a problem in the case of the iOS platform. Apps on iOS are easier to use for novice users even. Because of strict guidelines for app quality, an iOS app finds more users than an Android app.
  • Android: In Asia, Android has a bigger market than iOS. It has lower download costs as compared to iOS. Android has low maintenance costs as it is not supposed to be regularly refreshed like iOS. Unlike iOS, Android doesn’t have strict guidelines for quality and as such developers are at ease while developing the Android apps.

Disadvantages

  • iOS: iOS has a high cost of hosting that can go up to $200. The number of iOS users in the Asia-Pacific region is quite limited as such. Also, one of its benefits is its disadvantage i.e. strict guidelines for app quality. Due to these strict guidelines, developers turn to Android or Windows.
  • Android: Well this is not a platform where you can easily sell your paid apps. Users of this platform like to download free apps more. As far as the development of an Android app is concerned, it takes a bit more time than an iOS app.
  1. Mobile App Type: While the Platform for which the app is developed matters, the type of the application also does. These days, mobile users prefer to have a mobile app rather than web apps. Here too, the mobile apps can be classified into Native and Hybrid apps. Native apps are built for a single operating system such as Android or iOS, but the Hybrid apps can function on both the platforms. Though Hybrid apps are being considered the future of mobile apps, they are still in their infancy and Native apps are more preferred than Hybrid apps.
  2. Development Location: This also affects the cost of the mobile app. If the mobile app is being developed in-house, then the cost is bound to decrease. In the case of outsourced mobile app development, the cost will certainly go up as extra money will have to be paid to the developers.

Ultimate Guide to Optimized Mobile Push Notification | Taplytics

Features: The cost of the app will go up as more and more features are being added to the app. This is because the developers have to put in the number of hours to achieve the desired end-result. A user login-enabled app adds 20 man-hours, 24-hours for a push-notification feature, navigation bar adds up to 40 man-hours,64-104 hours for media content sharing,24 for Geolocation features, in-app messaging takes around 60 hours, while database connectivity takes around 18 hours. This beside the time taken for architecture development, environment setup, design, bug fixes, project management and documentation which collectively take up around 500+ hours. Further, the cost of the app will also rise if your app falls between one of the simple, moderate, and complex types of apps. The simple type of apps just have the core features, moderate have features such as payment gateways, API integration, and backend-server support. Complex apps on the other hand have a good UI, multi-language support, Real-time features through the use of the database, and custom animations as well. What method must be used to calculate which features to include and which not to? The answer is brought to you by a technique called MoSCoW which categorises features into

  1. features that must be present,
  2. important features that should be present
  3. the not so important features but can be considered in a later version
  4. the not required features.

All features can be categorized as thus when you go to the developers.

 

  1. Cost Charged by App Developers: Another factor that counts in when calculating the cost of a mobile app is the hourly rate charged by mobile app developers. However, this can differ from place to place and from developer to developer as well. Countries like the US and Canada have rates that range from $50 to $250 while the rates in India will vary from $10 to $80 per hour. As such the place from where the app is getting developed also matters a lot.

Let’s Conclude

Having said a lot about the factors that affect the cost of mobile app development, one thing is for sure – there are no fixed criteria to answer this question. This is because each mobile app has a unique business aim to solve problems, and is aimed at specific users.

In addition, various applications require a specific amount of space on mobile devices, use different third-party integration, and provide access to diverse amounts of information. To get a fair idea of the cost it would be better to ask some experts on this who has the technical as well as the commercial know-how about the matter.

How CI/CD saves up to 20% of mobile app development time?

How CI/CD saves up to 20% of mobile app development time?

Continuous Integration and Continuous Delivery has grown to become a software development practice which brings down not just the effort but also the app development cost that goes behind.

Through the CI/CD for mobile apps process, businesses can avail a plethora of benefits, straight from the one time setup: Automated builds, improved communication, automated shipping, and zero server maintenance.

In a sans CI/CD world, some mobile app development companies release their apps manually, by handing them off from one team to the next.

There is almost always a delay at every stage which leads to irritated teams and unhappy clients. And the app ultimately gets live via a tedious and error-full process which delays the entire revenue generation possibilities.

Now if you look at the continuous delivery pipeline illustration below, you will get a different picture.

It depicts how the developers write their code and commit them to a source code repository once/multiple times a day. Following which, testing, staging, and production happens inside the CI pipeline and is deployed to the customers directly.

What is CI and CD?

Let us first answer what is mobile continuous integration before moving on to filling in the details on what is continuous delivery and what is continuous deployment.

Now before we go on with defining what the approach stands for, let us put something out in the open.

Even though there are a whole lot of different mobile app development process sets operating in the market today, the answer to what is Continuous Integration and Continuous Delivery in devops and what is CI and CD in agile would be exactly the same.

With that clear, let’s head out with the explanation.

Continuous Integration 

How CI/CD saves up to 20% of mobile app development time?

Custom Integration or CI is the custom mobile app development practice where regular integration of code changes happen in a shared code repository. Usually, the practice happens at least once and maximum of multiple times in a day. This encourages committing of small changes often compared to committing of large changes less frequently.

Every commit then triggers a build in which tests are run which helps in identifying if something is broken.

Continuous Delivery 

How CI/CD saves up to 20% of mobile app development time?

It is all about the capability to regularly deliver the integrated code to production. The end result of this stage is that you have green builds that are ready to be released in one click.

Continuous Deployment 

How CI/CD saves up to 20% of mobile app development time?

This process goes one step ahead for it enables automatic deployment of every main branch change which passes the CI pipeline. However, it is better to avoid doing this, for you would need to perform testing which are not limited to automated.

Stages of CI/CD for Mobile Apps Development

How CI/CD saves up to 20% of mobile app development time?

The process of integrating CI/CD for mobile apps can be divided into seven sections or stages.

Code: Code is the backbone of any application. The process of writing them which starts with the development phase goes on to the maintenance phase. In the continuous integration and delivery approach, developers write code for CI components, which in turn, prepares it for automation in the next stages.

Build: This is the part where the app is built. Multiple developers work on the process happens every day. What is different in case of CI/CD for mobile apps is that once the developers have finished their work, they add them in the CI application.

The output of the stage is a URL.

Test: Once the code components are entered in the CI platform, the next step is to see how the app performs with inclusion of new updates. The CI software here gives developers reports on how the app is performing, in addition to some useful analytics.

Even though it is automated, it helps to involve someone from the mobile app quality assurance team in the stage to ensure that the changes are acceptable.

Package: Once the performance and quality tests are made, it is time to deploy the application. The stage is applicable both for the new apps and the existing apps whose new version is going to be released.

Release: The next stage of the incorporation of CI/CD for mobile apps is applying the new URL for the app on devices for release.

Configuration: The next stage is configuration of the infrastructure. You would need to format the entire coding and management tools, which would enable people to regularly access the CI platform.

Monitor: Once the app is running, you would still need to continue monitoring its performance. The developers, at this stage, ensure that any additional code written for improving the app has gone through the CI stages first. Doing this, lowers the chance of any bugs or problems emerging mid way.

Getting started with Continuous Integration and Delivery

It is not difficult to get up and running with Continuous Integration. Here are the steps that mobile app development companies generally follow to start using CI/CD for mobile apps smoothly.

How to Implement Continuous Delivery for Mobile App

  • Implementation of a version control of choice – SVN, Git, or Bitbucket
  • Writing test for critical elements in the code base
  • A suitable CI/CD service which would enable running the tests on every push to repository.

Let’s look deeper into what the implementation of continuous integration can offer to the everyday software development process. The realization of these advantages and the answer to how continuous integration and delivery helps translates into reduction of risks attached with building and paving the road to get the features out to the customers.

Business Benefits of Continuous Integration & Continuous Delivery

1. Faster feedback loop 

DevOps and faster feedback: fewer problems, better features (part 2) - DevOps.com

In application development process, not knowing can really hurt. One of the primal things that slows down the software development process is the lack of feedback on the impact of changes and the quality of work. It is easy to get disillusioned that you are moving too fast if you are commiting codes frequently and moving to other tasks without running any tests. While the reality is that it’ll get extremely difficult to figure out what changed in the code and by whom, when there is an issue.

CI/CD for mobile apps solves these issues by giving you prompt answers on the question if something broke in a commit.

2. Increased visibility & transparency

How CI/CD saves up to 20% of mobile app development time?

When the CI/CD pipeline has been set up, the whole team would know what is going on with the builds in addition to getting the latest test results. This means, they would be able to plan their work in context and would get a clear idea of which changes tend to break the builds more often.

3. Avoidance of integration mess

How CI/CD saves up to 20% of mobile app development time?

If you look at software as legos where each of the pieces are created by developers individually, the whole software development picture becomes one where different legos meet to become one giant piece. What eases this process is the lack of friction.

Even if a lego piece is fine, you will still have to make sure that it fits well with the entire system – Continuous integration does exactly that by connecting the pieces of software together everyday.

4. Identification & solving  of issues early on 

How CI/CD saves up to 20% of mobile app development time?

An obvious phase of software development is bugs. Now, the more bugs pile on, the harder it then gets to identify and solve them. With different kinds of automated tests running in the continuous integration pipeline, you’d get to know what is to be fixed the moment a test fails.

5. Improve testability & quality

Design For Testability (DFT) Course - VLSI

The easier it would be to test something, the more convenient it would become to test the quality. The simple rule is that the more your code is written in a way that it can’t accommodate writing tests, the more difficult it would be to make it bug free. The testability efforts ultimately depends on how easily the new builds are made available and the kind of tools you work with, plus the control you have on the test environments.

Top Mobile Continuous Integration CI/CD Tools 

Jenkins 

Jenkins

Founded in 2006, it is the top open-source continuous integration server. Developers have developed over 300 plugins for adapting Jenkins into different build, test, and automation based workloads.

CircleCI 

Continuous Integration and Delivery - CircleCI

The tool enables developers to release codes by automating the build, test and deployment process. It allows them to identify and fix bugs much before it reaches the customers.

Travis CI 

Core Concepts for Beginners - Travis CI

It is another top mobile continuous integration tool operating in the market today. It is a distributed, hosted services used in the development and testing of projects which are hosted on GitHub. It also offers custom deployment of proprietary version on the client’s hardware.

Bitrise 

Plans and Pricing

It is a continuous integration & delivery Platform as a Service which focuses on mobile app development. The developers, through the tool, are easily able to automate the test and deploy phase of their apps within a few clicks.

Visual Studio App Center 

Visual Studio App Center - YouTube

The Microsoft backed tool brings different services, usually brought into use by developers in an individual, integrated product. It enables mobile app developers to build, test, and deliver, monitor their apps, while allowing them to create an installable app package with every push made to the repository.

While these are just five, there are a plethora of different continuous integration and delivery service providers available in the market. Here are a few things to consider when researching the choices:

How to select the best CI/CD tool for your app development needs?

Best CI/CD-DevOps Tools for Mobile Apps (Mobile Continuous Integration and Continuous Delivery)

1. Proprietary vs Open Source

On the basis of context, there can be instances where open source tools might be off the table for some clients. But at the same time, investing in proprietary tool can be a little costly side.

If going with open source tools fits in the context and budget, there are a number of options present in the market.

2. In the Cloud or Self-hosted

If you are willing to host the CI/CD service yourself and have the time and resources for setting it up, configuring, and maintaining it, you should go with Self-hosted services. But, if you are looking for crossing off build infrastructure maintenance off the work list, go with a Software as a Service solution.

3. Ease of setting up 

A frictionless adoption of CI/CD is the secret to getting everybody on board. So, going with a tool that takes a lot of time in setting up can backfire your intention of choosing the approach.

Mobile App Promotion Strategies for Startups

Mobile App Promotion Strategies | CleverTap

The mobile app ecosystem is a challenging environment. Year after year thousands of apps enter the app sector and compete for the pivoted top 10 listing.

One of the biggest fundamental mistakes an entrepreneur preparing for the top spot can make is not paying attention to the mobile app promotion stages. Or treating the process less than the number of effort required for the design and development process.

The question in the present mobile app state is not What is mobile app marketing, why is it necessary or how it works? But, what are the right app engagement methods.

It is a given that no matter how well crafted your application is, it will not get its spot under the sun until it is marketed right and there is a buzz around it much before it hits the stores and users’ devices.

Achieving the promotion utopia is not easy. But let us help you get there.

Here is an app marketing guide to help you market your mobile app.

But before you get to the stage of mobile application marketing, there is some homework which is required to be done to answer how to market an app successfully.

Prerequisites for Mobile App Promotion

Identification of app objectives and target audience 

Exploring your Target Audiences for Mobile App: How to Go About it

Much before you get to the stage of finalizing the right app marketing strategy and determine associated budget, you should flesh out who your target audience is. You need to explore and learn what are their pain points, what are the existing solutions available in the market, where are they lagging, and how your application can overcome them. In other words, you need to invest your efforts into product discovery, creating user personas, and much more.

Whilst this is the first step towards developing a mobility solution, it won’t hurt to revisit the findings when you are nearing the stage of mobile app marketing.

Do the keyword research

How to Do Keyword Research for Your Business Blog - Raka

Identifying the right set of keywords is a very important part of the app promotion process. One that you’ll find in every app marketing guide. Your application will stand a much better chance if you know what language your users will use to reach your mobile app through natural searches.

Since this is just the homework stage, you need not pay heed to the positioning portion of the keyword as of now.

The strategies for mobile app promotion are primarily made of two stages – Pre-Launch and Post-Launch marketing. Now, unlike the design and development part of the process, where the efforts reduce once the app is deployed, the efforts needed both before and after the app launch stages, in case of app marketing, are the same.

Let us look into the pre and post launch mobile app marketing tips.

Pre-Launch App Marketing Strategy

This is the stage which would enable you to create awareness about your application in the market. Here are the things that will have to be covered in the pre-launch app marketing stage.

Finalize a release date 

Android 12: Release date, betas, features, and news | ZDNet

A good starting point would be to finalize the release date of the application. Having a time frame in mind would help devise better mobile app promotion strategies. When deciding on the launch date, consider all holidays and events happening around the date, this will help ensure that the app is not getting overshadowed.

Build A Great App Landing Page

15 beautifully designed responsive mobile app landing pages | Webflow Blog

Mobile app landing pages have become some sort of a must-have for businesses looking to generate eyeballs right once the development phase starts nearing its end. The benefits of creating a promotion landing page can be manifold. First, you can use all the information collected on the page for conversion purposes. Next, you can use the content on the page for SEO purposes – improving the app’s ranking on the search engines.

Outreach initiatives 

Outreach Initiatives and Event Planning Committee | Student Government Association | Wright State University

One of the app marketing tips that works best in favour of promoting an application is the outreach initiatives that a business takes. While it would be a lot more beneficial for a startup to start rolling out Press Releases (PRs) and Articles from the stage where the app’s beta version is out, it’d be beneficial to start creating a list of prospects to reach out, in advance.

You should have a ready list of PR professionals, bloggers, and social media influencers before you start with steps to promote an app. It’d also help your mobile app marketing strategy to keep a few pitch ready with you beforehand to then send to the agencies.

Open social media profiles 

8 tips for expanding your social network - .:: PALLETIZED COWORKING - WAREHOUSING - FULFILLMENT ::.

While assumed to start once there is a link to download the app, ideally, the stage where you create social media profiles should occur 1-2 months prior. This will help you with avoiding mistakes while promoting your app on social media channels and leverage higher benefits.

Now, when talking about the same, you should start with identifying who your target audience is and which platform they frequently visit. On the basis of that information, open social media profiles and start posting content on them to keep the users’ interest in place.

Besides these pointers, there are a few things that you will have to cover from the development front as well. Let us look into them. 

Make the app easily shareable

Create Easy Shareable Stores with RealTimes App — All for the Boys

On the development front, it should be made easy for users to share your application to their friends and family. For this, you will have to ask your partnered mobile app development company to add native elements, which would make it possible to share the app through Message, WhatsApp, or other social media platforms.

Implement app analytics 

The Ultimate Guide To Mobile App Analytics | Instabug Blog

When talking about app success, it is not always about higher app downloads. Various other mobile app KPIs must be taken into account.

In relation to the same, there should be an app analytics section inside the application which would make it possible for you to keep track of how the app is performing when the time comes. Adding analytics at a later stage will be a lot more difficult compared to adding it at the development stage.

Enable push notification

Enabling desktop push notifications – Insightly Help Center

The prominence of the role that push notifications play in reaping higher benefits of marketing an app is undeniable. It can be your go-to tool for ensuring the app is always on the top of users’ minds. But in order for it to perform what you expect of it, you will first have to incorporate it in your application:

  • Register with the push notification service of the operating system;
  • The OS service offers an API that enables the app to interact with the service;
  • Add SDK to the app.

Post-Launch App Marketing Plan

The efforts that you put in the name of pre-launch app marketing is only half of what you will have to do for post-launch marketing. Now, when we talk about post-launch app promotion techniques, we basically talk about two primary approaches: Organic and Paid.

The idea here is to get as many downloads on your application as possible. For, the ranking of your app on the store will ultimately depend on the number of downloads it has received. But a thing to note here is that there is no list of the best ways to promote an app. It will all ultimately depend on your app type, what you are looking to achieve, and the budget you have set for the mobile app development process.

Paid Promotion Activities

How To Promote Your Business: 20 Proven Strategies - BuildFire

App-install campaigns 

The app-install ads when driven with the right app marketing strategy and in the right place and time tend to draw massive benefit for the application on the download count front. What is difficult in this method is determining reasons behind higher app uninstallation rate and take preventive measures for the same. But the returns that can be expected from this approach are massive.

Pay per click  

Pay per click tends to have a massive impact on mobile app promotion, if and when done on the right platform. While one approach would be to promote the app on search engine, what we recommend is promoting the application on other applications – this has shown to offer greater benefits to businesses.

Email campaigns 

Depending on the demographics of your target audience, eMails can be a great start for establishing your marketing strategy for app launch. By sending the details and values of your app to people who either subscribed to your landing page earlier or through cold emails can be a great way to get attention on your application.

Organic Promotion Activities 

App Store Optimization

App Store Optimization - Tips to optimize your app store listing | GoodBarber

When we talk about organic Android/iPhone app marketing, the foremost strategy that strikes the mind is ASO or App Store Optimization. The idea of ASO is to work on the app’s store page in a way that it is fit to appear in the search list and enticing enough to be downloaded by the users in one go. The end goal of ASO, however, should be to ensure that the application gets featured on the Play Store.

Apply for awards 

Awards are a sign that the product is quality focused and is bound to add great value to the app user acquisition marketing strategy for apps. In many ways, they also play a role in getting greater downloads.

Here are some of the websites that accept awards application on the basis of its design, features, and other criterias:

Here are some of the websites that accept awards application on the basis of its design, features, and other criterias:

  • Appy Awards;
  • Best App Ever Awards;
  • Apple Design Awards;
  • Appsters Awards;
  • The Webby Awards;
  • Best Mobile App Awards.

Gain visibility 

Promotion Strategy: How To Promote Your Business [2021]

There are a number of app marketing ideas you can turn to for gaining visibility on your application. Here are a few of them –

  • Submit the application on promotion websites like Rate My Startup or Launching Next. these will help you in gaining reviews from entrepreneurs and other users.
  • Publish the app on alternative app stores like Amazon etc. (Note that this can only be a part of your Android app marketing strategy)
  • Conduct contests and giveaways to push the interest that you app is getting.
  • Keep in touch with the press to continue keeping your brand in the news.

Localize your mobile app

Though English is mostly the language that an app is drawn around, do not restrict the language as the only language. Many people in the world, even in the USA itself, do not use English as their native language – an event that affects the mobile app usage charts.

It is important to localize your mobile app according to the relevant regions – ones where your users belong. But when doing it, do not rely on auto-translation. There are a number of app localization agencies like  ICanLocalize, Babble-on, Tethras, Localeyes, etc, which can help bring the app to a global market.

The pre-launch app marketing strategy and post-launch app marketing plans you read above work amazingly well for getting million downloads on your app. But the hard work and effort doesn’t end there. You will still have to work around ensuring that people who install your app don’t abandon it.

While it would help to know the reasons why people uninstall apps, what we recommend is investing your time in mobile app reputation. There are three primary ways to attain it: Setting up listening tools, setting a team to reply to users in real-time, and bring troubleshooting tips on app and the landing page. But before these three, you will have to guarantee an optimized app performance.

Mobile App Development Guide for the Insurtech Sector

Mobile App Development Guide for the Insurtech (Insurance and Technology) Sector | Pixeled Apps | iOS & Android Mobile App Development

The insurance sector is known to maintain multiple touchpoints with its clientele. Thanks to business models that safeguard people from unexpected circumstances, they are detail-oriented and require heavy paperwork at most stages of customer enrollment. But the rapid, and recent, technological advancement has seen the finance sector introduce fleets of new digital solutions that place them right at the fingertips of people. As a result of this wave of digital transformation, pre-existing companies and startups in the insurance sector, are exploring the prospect of mobile applications. Lest we forget to stress, aggressively. The new insurance applications, if we can call them that, would need a touch of finesse considering the diversified nature of operations. So what should software developers concentrate on when it comes to Insurtech app.

It is to answer this throbbing question that we have this mini mobile application guide ready for you to take your first steps towards creating innovation in your insurance business.

Why Does An Insurance Company Need a Mobile App? 

Best Car Insurance Company Mobile Apps – Forbes Advisor

Insurance, by tradition, has been powered by middlemen. Although taking them entirely out of the picture may not be plausible, mitigating their involvement will grow profit margins, naturally.

Mobile apps allow real-time B2C interaction, without intermediaries. The positivity also flows down to the customer experience, which can never be exaggerated. And insurtech would be too smart for its own good, not to explore this option.

There are three main components that play a vital role in formulating the proverbial pyramid of an insurance company. The pyramid. which had played a major role in helping Wefox raise $110M in 2019.

This includes first the insurer that incorporates and markets financial products. Second, are the third-party entities that provide the services covered by the insurer. And the third is the end-user, the customer who has opted in to be insured.

Mobile insurance solutions offer the following advantages to insurance companies at the top of the pyramid:

Establish Customer Contact 

8 Steps to Develop an Effective Customer Service Strategy Today

Buyers are more conscious of spending than before. As per stats, 85% of the customers conduct online research before placing their purchase order. Insurance mobile apps make a fine impression in convincing people of instant support in dire need. A study discovered that up to 63% of its sample population was inclined to communicate with a chatbot. Therefore we have reason to believe registered policy-holders will favor to download and track policies over mobile. Building on this, they can draw a comparison between multiple products and shortlist the ones with better benefits.

Increase User Reach

How to find Instagram engagement pods in 2020? - Instarabbit blog

Provide good customer service and turn clients into business affiliates. Referral programs can get you more buyers to loop in provided your mobile insurance solutions are state of the art. There are dual benefits to this. First, optimizing customer recruitment cycles would free up time for insurance agents to target bigger, better clients. And second, you can advertise your mobile insurance platform in related apps to target more customers with semantics marketing.

Study Customer Data 

Customer data strategies failing to support business goals, says study

The insurance industry can tap into mobile analytics which they can analyse to an extent like never before. Insurance applications can easily gather the following types of structured data:

Identity Data – This includes name, D.O.B, physical address, telephone information, email Id, and or links to social media profiles such as Facebook, Twitter, LinkedIn, etc.

Quantitative Data – This is transactional data such as bank account details, credit score, frequency of payments, etc.

Descriptive Data – Insurers may need their customers to disclose property details, car ownerships. professional standing, educational background, along with the family tree.

Qualitative data – This includes subjective/behavioral details such as favorite color, hobbies, etc.

Collecting such vivid information, companies operating in the insurance market can subsequently filter the best-fit prospects for upselling.

Facilitate Convenient Services 

Does The eSIM Spell The Beginning Of The End For SIM Card Revenue?

One of the most common KRAs of those in the finance-frontline is client visits. This could be either for background checks or personal form submission or a routine update of information. Be that as it may, the current COVID-19 crisis does not permit face-to-face screenings. Moreover, the coronavirus onset has led to a rise in demand for insurance applications. As per a study by Lincoln Financial Group, digital alternatives increase the likelihood of people opting in for life insurance. Make hay while the sun shines.

Universal Features for Insurance Apps

Anteelo, as one of the renowned financial app development company, has appreciable experience in creating cutting edge on-demand digital products. Coupling experience with client feedback, we recommend against loading an app with features just to make it look fab. There has to be synergy between the color palettes, smart use of white spaces, typographic fonts, and strategic positioning of icons and images. Only then does an app have a life of its own. After taking care of such design elements we can refocus our aim towards integrating the right feature sets.

To give you an overview of the Fintech sector that is attracting investors’ attention,  there are four categories of apps that can be developed in the insurtech domain:

  • Life Insurance
  • Car Insurance
  • Travel Insurance
  • Health Insurance

Apps must have a strong backend. They should be able to withstand peak rises in traffic, or if the company decides to implement a new software system without many amendments to the architecture.

Based on our experience, we will first list the mutual features that can be found in all of the above categories. These features formulate the kernel of a general application guide for Fintech app ideas. Barring few niche specifications, the following features remain steady and ever-present especially during a fintech app development of any kind:

1.  Admin Panel

What is the admin panel on a website? - Quora

This is the introductory page where the basic information about the insured person is displayed. Make sure it is lean, clean along with clear call to action buttons. Take the Geico insurance app for instance. It’s a car insurance app and hence the profile page displays information related to vehicle IDs, roadside assistance, payment buttons and an option to switch policies. Pretty simplistic.

2.  Policy Details 

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This page displays the details of the policy, the manner, and the extent of your benefits. Continuing the same example, since Geico is an auto insurance app, it displays information about several policies that a single user could be enrolled into such as one for the car, the other for a bike, and so on.

3.  Quote & Filters

Paisabazaar Mobile UI UX on Behance

A very useful feature particularly in finance app development. In the previous section, we listed the kind of data that an insurer could collect through a mobile app. The Quote-tab offers a feature where the app can fetch your data from its records and either connect you to an insurance agent or directly state the price of a policy. Assuming the company has the resources to work with Big Data, it can pitch discounted prices or more benefits to customers based on their frequency of asking/exploring new policies.

4.  File a Claim

How to File, Track or Cancel a Phone Claim | Asurion

Integrating a claims-filing section remains the most prioritized stage of financial application development. The run-around days to lodge claims are a thing of the past. Submitting proofs should be as simple as clicking a picture, be it from the scanner of the app or the camera of the phone. If the entire process can be concluded on a single page, all the better.

5.  Payment Gateway

How to Choose the Right Payment Gateway for Your Business

No points for guessing, integration of payment gateway is super necessary for any form of finance mobile app development. The gateway should accept payments from all major network providers such as Visa, Master Card, etc. In addition to that automated billing for EMIs or a single click payment process should be integrated.

6.  Customer Support 

The Importance of 24×7 Customer Service for Your Business

Chatbots are not extraordinary anymore. Automated responses act as a quick-fix for run of the mill questions. But what about accidental circumstances. You can’t expect a user who’s stranded with a broken vehicle to rely on pre-feeded answers. As a result, integrate a Request a Call Back or Connect with a Representative option. Such in-app call functionality will serve to make the app what it actually is, a disaster averting, quick response machinery.

7.  Push Notifications

Increase push notifications opt-in rate with these tips

Businesses, in general, don’t miss opportunities to enter a new market segment, let alone insurance companies. The latter might even tweak its business models, should the need present itself. Whereas seasonal offers are heard of, the idea of a flash sale was experimented with by Liberty Insurance in the not quite distant past. You need an excuse for giveaways and so do the customers for buying your products. Therefore, send regular push notifications informing people of their outstanding sum and any upcoming policies they can swap their current ones with.

8.  Document Upload/Storage

The Best Cloud Storage and File-Sharing Services for 2021 | PCMag

How would the customer upload their documents, let alone a photo, if the Fintech application development did not incorporate it? Not only must the mobile app allow document upload from local file directories but also import, if need be, from third party servers as in the case of emails.

In our lifetime, and we’ve only just begun, Anteelo – the Clutch backed top Fintech app development company – has worked with over 12 Fintech companies whose solutions facilitate a user base of over 5 million people.

Where Does Your Business Go From Here?

To the stratosphere if you shake hands with one of the most promising Fintech app development companies. We don’t like self-glorification. It would suit you more to go through our comprehensive product suit and decide for yourself. But just so we know we did our bit, if there is anything under the sun in Fintech/insurtech, that you’re interested in, we’d be happy to burn our night lamp for you.

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