How Does Ruby on Rails Technology Impact the Insurance Sector
The insurance sector has easily become one of the major tech-adopting sectors in recent times. From artificial intelligence to RPA, the insurance industry has implemented a wide array of innovations to augment its capabilities.
According to a survey, in 2016 the insurance sector spent more than $180 billion on just IT services. One such technology is ruby on rails application development, the adoption of which has become a major factor in streamlining the web-applications for insurance companies. With ruby on rails, the insurance sector has amplified its mobile application infrastructure and eased the process of answering customer queries, claim processing as well as billing and payments.
Insurance Sector and Ruby on Rails Technology
A McKinsey report suggested that 9 out of 10 insurances blamed conventional methods to be a major reason for the insurance sector lagging behind. Ruby on Rails web application development is a technology that provides a framework to insurers for smoothly carrying out the insurance activities.
- Ruby on rails allows insurance companies to modify their payment gateways by offering a UI that is extremely user-friendly. These payment gateways can be adapted to mobile & desktop applications, making insurance payment easier for customers.
- Using ruby on rails web development, customers can be offered customized packages on the insurance provider’s application. ROR allows developing packages and providing comparative analysis that can offer insurance options to customers as well.
- With ROR, insurance companies can develop an application that can provide quotes in just a few simple steps. Kin Insurance is one such company that has adopted this methodology wherein the user just has to enter the basic details and they will get a comprehensive quote for the policy.
- Ruby on rails technology is a cost-effective method to provide a positive experience to the customer on the mobile & desktop. It is extremely important because the points of customer interaction in the insurance sector have presented some major challenges. Customers have become more loyal to companies that offer web application which is easy to use and offer capabilities for quicker insurance choices.
- Customer data management for claims processing also becomes easier with ruby on rails application development. With the help of ROR, insurance companies were able to minimize the processing time and maximize the number of claims that were processed in a day.
Is Ruby on Rails Technology Here to Stay in Insurance?
Most certainly, yes. With the implementation of newer technologies in the insurance sector, ROR has become a preferred choice for insurance providers to enhance their mobile application capabilities. From payment gateways to points of customer interactions, insurance companies have simplified various aspects using ruby on rails application development.
In the Smartphone era where customers are solely dependent on mobile applications, insurance providers and agents have turned towards ROR development to provide enhanced features to their users and maximize their ROI. Being an open-source framework, insurance providers can easily make modifications in their enterprise software applications and make it relatively easier for them to retain their customer base.
At BoTree Technologies, we build web and mobile applications to add value to our client’s business. We align ourselves to ensure that our client benefits the most out of our engagement.
Drop us a line to discuss how can we help take your business to the next level.
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