Case Study

Insurance - Insure World Tech Private Limited

insurance

Insurance is a form of risk management, primarily used to hedge against the risk of a contingent loss. In essence, insurance is simply the equitable transfer of a risk of a loss, from one entity to another, in exchange for a premium. Insurance consisted of the development of the modern business of insurance against risks, especially regarding fire, cargo, property, death, automobile accidents, and medical treatment. The industry helps to eliminate risks as when fire insurance companies demand the implementation of safe practices and the installation of hydrants, spreads risks from the individual to the larger community, and provides an important source of long-term finance for both the public and private sectors.

Insure World Tech Private Limited is a Private incorporated on 20 January 2017. It is classified as a Non-government company and it is registered at Registrar of Companies, Ahmedabad. The Authorized share capital of Insure World Tech Private Limited is Rs. 100,000 and its paid up capital is Rs. 100,000. It is involved in other computer related activities [for example maintenance of websites of other firms or creation of multimedia presentations for other firms etc.]

Insure world tech private limited provide many types of insurance like Fire Insurance, Motor Insurance, Accident cover Insurance, Rural cover Insurance, Miscellaneous Insurance, Marine Cargo Insurance, Engineering Insurance, Package cover Insurance, Health Insurance, Liability Insurance.

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Objective

Insurance application intended to develop a market-place for Insurance Agents and Policy Holders (End User / Customer) where they can manage policy and life cycle with an ease. Aim was to make Insurance Agent and Policy Holders (End User / Customer) worry free about recognition of policy details, premium amounts, due dates, etc.

challenge

Synopsis

Insurance mobile app helps agents to manage policies, manage customers, manage notifications & reminders, manage documents in wallet, manage customer's family and manage claims easily.

Agent app serves the different Insurance categories like Fire, Health, Motor, Accident Cover, Package Cover, Liability, Engineering and Miscellaneous Insurance.

This is a General Insurance premium Calculator app for Insurance Agents, Development Officers and Brokers of any insurance company.

The app allows Insurance Agents, Advisers and Development Officers to calculate the premium of more than 70 products across different insurance categories offered by New India Agents Insurance company Limited.

The main feature of the app is to allow the users to work in offline also. User can access the data without internet connection and perform the regular operations as well without any hurdles. App will manage the two way synchronization of data between android application and web server.

Challenges

  • Manage two way data synchronization between mobile application and server to work in offline mode
  • Understanding the requirements
  • Continuous change in requirements
  • Understanding the premium calculation methodology of more than 70 products for more than 8 categories

Approach

  • Understanding and Implementation of complex database structure to fulfill the client requirements

Features

Mobile Application [ Insurance Agent ]

  • Registration
  • Log In
  • Forgot Password
  • Change Password
  • Manage Profile
  • Manage Wallet
    • Document Waller
    • Policy Wallet
    • Claim Paper Wallet
  • Manage Customer
  • Manage Family
  • Manage Notification
    • Send SMS / Email regarding renewal reminder
    • Invite customer to use application
  • Manage Policy
    • Assign New Policy to customers
    • Add other companies policies
    • Search Policy details
  • Manage Renewal
    • Renew / Reject Policy
    • Add New Policy
  • Manage Claim
  • Utilities
    • Share Premium Quote
    • Manage Back up of data
    • Add new policy details by scanning QR code
    • Find near by amenities like hospitals, petrol pumps, banks, ATM's, etc.
  • Calculate Premium of more than 70 products

Mobile Application [ Customer / Policy Holder ]

  • Log In
  • Forgot Password
  • Change Password
  • Manage Wallet
    • Document Waller
    • Policy Wallet
    • Claim Paper Wallet
  • Manage Profile
  • Manage Family
  • Manage Claim
  • View Agent Details
  • View Assigned Policies
  • Ask Questions to experts
  • Get Premium quotes

Web Application [ Administrator ]

  • Manage Agents
  • Manage Customers
  • Manage Family
  • Manage Policy
  • Manage Categories
  • Manage Products
  • Manage Premium Calculation Rates
  • Manage Advertisements
  • Manage App Subscriptions

Web Application [ Insurance Agent ]

  • Log In
  • Manage Customer
  • Manage Family
  • Manage Policy
  • Upload Premium Register

The Result of Our Work

  • Robust and having a user friendly UI
  • Quick Premium Calculator to calculate Premium of more than 70 products
results

Time Line

  • Phase I – 6 Month
  • Phase II – 4 Month

Research

  • Performance Improvement
  • Two way data synchronization of data between application and web server

Technology Used

Android Application

  • Material Design
  • Google Vision and Other Google APIs
  • Firebase for Push Notifications
  • Fabric API for Crash Report and Analytic
  • FTP library to upload image on FTP Server
  • SQLite for Offline Access of application
  • REST based Web Services

Web Application

  • MySQL
  • Metronic Theme

Vertical Industry

  • General Insurance Companies
  • Life Insurance Companies

Target Audience

  • Insurance Companies Agents
  • Development Officers
  • Advisers
  • Brokers
  • End Users (Customers / Policy Holders)

Conclusion

After facing lots of challenges and hurdles during the execution and development, we provide the solution in the form of android application by considering all the real time issues and user requirements.

Acknowledgment

We had successfully completed the project in timely manner by considering all the user requirements and therefore got appreciation from client on successful closure of the project.