The insurance industry is composed of businesses that offer risk management in the form of liquid contracts. The creditor (insurance company) extends a guarantee of payment that covers a list of hypothetical future events for which payments would otherwise be uncertain. In return, the insured party pays a premium for protection against such unforeseen events.
The industry is regarded as slow-growing and safe for investment, but is already massive; Marsh & McLennon, the leading broker in the US, earns over $8 billion a year. Not all insurance companies offer the same products or policies, this article contains a handpicked list of the top insurance apps everyone needs to be aware of.
No other insurance app is headed in the direction of their customer in the current world, be that on the road or in life. The GEICO Mobile app is created to change that; it is ready to assist its users get wherever they might need to get to. Ride-sharing apps have enamoured the internet, but mobile apps for car insurance are less popular.
GEICO Mobile is one of the best insurance apps for automobiles on the market right now, and even ranked at the very top of Dynatrace’s Mobile Insurance Scorecard. Whether you need help with a flat tire or a car accident, GEICO is here to help. Plus, it’s available on both Android and iOS.
GEICO has numerous features that set it apart from its competition. It uses a parking locator that is built-in to the app to speed up the process of locating available parking at your destination and booking before you even arrive. Instant answers to any queries customers may have (e.g. their coverage or billing information) can be provided by the virtual assistant, Kate. On top of this, users can easily remind themselves of payments with reminders.
Globe Life was founded in 1951 and has only grown in financial strength and reputation since; it now offers insurance to over 4 million people concurrently. They are extremely dedicated to their mission of providing the defence of life insurance to their customers now and forever, and in this vein, recently released an app to further this end.
Like most other industries, app development is constantly increasing in the healthcare industry to produce apps that are consistently improving. That being said, Globe Life’s health insurance app is spearheading the industry with its innovative and pioneering features. The hassle-free approach that the app provides to life insurance plans, without the need for an agent visit or medical examination, is a breath of fresh air in an otherwise archaic industry.
In particular, the app offers several key features that render it a cut above its competitors. Primarily: the ability to set up one-time payments, easily link with an insurer through social media and accept extra options for coverage (if available) are unprecedented.
With all the developments that are being pioneered in the Artificial Intelligence world, it was only a matter of time their application spread to the world of insurance. Jerry is the industry’s first mobile car ownership app to use AI and machine learning in tandem to save its users time and money.
The app provides automated car insurance comparison, and was first launched in 2019; it has since accumulated over 1 million customers in the US and saves them an average of $800 a year on car insurance alone. It provides tailor-made quotes for each customer’s needs referencing information from over 45 insurance companies in under one minute.
Furthermore, since Jerry is a licenced insurance broker, transactions can be completed within the app without the need for customers to be sent to external sites. Its AI services mean that the only time customers need to interact with a human is if they want to – perfect for the younger generation.
As with every other industry, the insurance industry is becoming increasingly digitised. WIth the increasing number of insurance apps on the market it can be difficult to find informed answers on which are the best for every individual. We hope that this article can provide some elucidation. For more information regarding insurance licencing please refer to TRUiC’s website.
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