The demand for insurance development outsourcing companies is rising as insurers face difficulties recruiting talent, managing complex digital transformation projects, and reorganizing to accommodate necessary changes. Outsourcing insurance software development is a way out, giving access to specialized expertise, efficient project execution, and innovative solutions that internal teams may struggle to achieve internally. To help you navigate this growing trend, let's look at the top dozen insurance development outsourcing companies.
Selection criteria
We have compiled a list of the 12 best insurance development outsourcing firms selected for their experience, technological expertise, and scope of services. The data has been sourced from Clutch, LinkedIn, and the companies' official websites. The criteria for their inclusion were:
- Specialized expertise in insurance. Industry-specific knowledge is necessary to meet regulations, standards, and client needs, thereby reducing risks and enhancing operational efficiency.
- More than 500 experts on board. Larger companies are usually better choices for outsourcing insurance development due to their extensive resources, proven expertise, and ability to scale solutions efficiently to meet complex business needs.
- 10+ years on the market. Long experience ensures a deep understanding of industry-specific challenges and regulatory requirements, leading to more reliable and effective solutions.
- Clutch referral score 4.7+/5. A high percentage of clients likely to recommend the company shows trust and satisfaction from past clients, proving the company's reliability.
12 reliable insurance development outsourcing providers
1. N-iX
For 21 years, N-iX has been a trusted partner for enterprise clients in the insurance and financial services sectors, leading clients through digital transformations, system modernizations, and product development. N-iX provides a wide array of services—from custom software development and data management to cloud migration and AI integration—designed to boost operational efficiency and customer satisfaction. With a team of over 300 experts dedicated to the financial industry, N-iX crafts tailored solutions that address the sector's complexities and incorporate the latest technological advancements.
2. Avenga
This company specializes in creating solutions for the financial sector, including apps, CRM systems, and analytics. It employs over 7,000 IT experts across 31 locations worldwide. The company is committed to social responsibility through partnerships with NGOs and environmental initiatives.
3. Vention
Based in NYC, this company has been serving the insurance software outsourcing industry for over 20 years, specializing in custom solutions for companies of all sizes, from startups to established firms. Their expertise is navigating complex regulatory frameworks and ensuring that compliance is integrated into software solutions.
4. Kin + Carta
With a long history, this company specializes in accelerating digital transformation for financial services. With a team of experts in strategy, product development, and data analysis, their main priority is building customer experiences. They have a global presence and operate in multiple locations, including London, Chicago, New York, Denver, and Buenos Aires.
5. Innowise
This insurance development outsourcing provider focuses on creating solutions for insurance companies. With over 17 years of experience, they offer services such as AI-driven risk management, automated underwriting, and data analytics.
6. Appinventiv
Founded in 2015 in India, this company has delivered over 300 projects in insurance. They specialize in app development, risk management software development, fraud prevention, and tech consulting.
7. Experion
This company was established in 2006, with development centers in India and offices worldwide. It has garnered recognition for its expertise in digital and software product engineering. In insurance, their expertise includes building chatbots, computer vision, touchless claim processing, and fraud detection.
8. Hyperlink Infosystem
Since its establishment in 2011, this company has proven its expertise in building insurance applications. With experience working with over 2,700 businesses, they offer various services to help businesses undergoing digital transformation.
9. Simform
With a track record of more than 900 clients, including Fortune 500 companies, this company leverages ML, cloud-based architectures, and APIs to streamline underwriting, claims processing, and policy management. The company is headquartered in Orlando, Florida, and employs over 1000 professionals.
10. Sparq
With a focus on AI and ML, this Uruguay-based company develops solutions for risk management, underwriting, and customer service automation. It helps clients modernize their applications and improve operational efficiency.
11. Fingent
As an insurance development outsourcing partner, this company prioritizes the customization of its solutions. Founded in 2003 and headquartered in New York, they offer a diverse range of services in finance and insurance: data management, cloud, payment systems, and more.
12. STX Next
Established in 2005 in Poland as a subsidiary of a Dutch firm, this company has a proven track record of delivering AI and ML-powered solutions. They believe that AI will revolutionize the insurance industry and are working towards it.
Read more: Insurance software development: outsourcing vs in-house
Wrap up
Choosing the right one among insurance development outsourcing companies requires careful consideration of their industry experience, technological capabilities, and commitment to data security. Thoroughly evaluate potential partners to find a firm that aligns with your long-term goals.
Why should you choose N-iX for your insurance development outsourcing project?
N-iX provides a comprehensive range of services that meet the evolving needs of the insurance sector. Here are the key benefits of partnering with N-iX:
- Over 21 years in the market, providing deep insights into the insurance sector. Successfully delivered 250+ finance projects, showcasing a proven track record.
- End-to-end development services focus on streamlining operations, reducing costs, and enhancing customer satisfaction. Fluent in using innovative technologies such as AI and ML, N-iX helps insurers address challenges like competition with insurtechs and the growing global protection gap.
- Expertise in data management and data governance, including data cleansing, cloud data migration, and building data warehouses for better analytics. N-iX focuses on data security and privacy, using advanced anti-fraud measures.
By choosing N-iX, insurance companies can ensure they are equipped with the tools and expertise necessary to thrive in a rapidly changing industry landscape.
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