Custom Aviation Insurance Software
ScienceSoft combines 12 years of experience in insurance software development with proficiency in cloud, AI/ML, IoT, and blockchain to design and build robust aviation insurance solutions.
Aviation Insurance Software: Brief Summary
Aviation insurance software automates processes like underwriting, policy administration, claim management, and compliance monitoring. Such software offers centralized storage for aviation insurance data and documents and provides end-to-end visibility of insurance activities.
Custom aviation insurance software introduces tailored functionality to transform insurer-specific workflows across diverse aviation insurance types. Custom solutions can be powered with advanced technologies like cloud, artificial intelligence, IoT, and blockchain to maximize the efficiency of aviation insurance processes and enable new business models.
Custom systems for aviation insurance can be directly integrated with all required business software, including legacy tools. They can be easily upgraded with new capabilities to meet insurers’ evolving needs and changing regulatory requirements.
Implementation time: 9–18+ months for a custom aviation insurance system.
Development costs: $200K–$1.5M+, depending on insurtech solution complexity. Use our free calculator to estimate the cost for your case.
Aviation Insurance Types Custom Software Helps Automate
In ScienceSoft’s projects, we create reliable and flexible solutions that help out aviation insurance clients automate their unique spectrum of coverage offerings and digitally transform their business-specific workflows.
By the insured party
- General aviation (GA) insurance.
- Passenger airline insurance.
- Cargo airline insurance.
- Aerospace manufacturer insurance.
- Airport insurance.
- Ground handler insurance.
- Aviation supplier insurance.
- Aviation leasing company insurance.
- D&O insurance.
- Private pilot insurance.
- Space and defense insurance.
By insurance object
- Commercial GA aircraft and fleet insurance.
- Private GA aircraft insurance.
- Business jet insurance.
- Helicopter insurance.
- Unmanned aerial vehicle (drone) insurance.
- Balloon and airship (dirigible) insurance.
- Satellite insurance.
- Experimental and vintage aircraft insurance.
- Air cargo insurance.
- Airport facility and equipment insurance.
- Aircraft storage facility and maintenance hangar insurance.
By coverage
- Aircraft hull and liability insurance.
- Aviation professional services liability insurance.
- Aviation products & completed operations liability insurance.
- Workers’ compensation insurance.
- Business interruption insurance.
- Loss of license insurance.
- Medical and rescue service insurance.
- Cybersecurity insurance.
- Environmental insurance.
- War and terrorism risk insurance.
- Kidnap for ransom & hijack (K&R) insurance.
Important Integrations for Aviation Insurance Software
- Corporate systems: CRM, accounting software, a BI solution, etc.
- Customer interaction channels: an insurance portal, email services, messaging services, etc.
- Third-party data sources: FAA’s airman and aircraft registries, NTSB databases, internal systems of regional credit rating bureaus and medical information bureaus, air traffic control systems, weather data platforms, policyholders’ aircraft manufacturing, tracking, and maintenance systems, ISO, NICB, and CLUE databases.
Key Features of Custom Aviation Insurance Software
Below, ScienceSoft’s consultants composed a comprehensive list of features that form the core of a robust aviation insurance system:
ScienceSoft’s Featured Aviation Insurance Project
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Underwriting Automation Software for a Global Aviation Insurer with $30B in Assets
ScienceSoft designed and built a custom underwriting system for one of the world’s fastest-growing aviation insurance companies with capacities in 120+ countries. The solution provides robust automation features to increase underwriter productivity and ensure compliant workflows:
- Customer onboarding and KYC/AML checks.
- Customer risk assessment.
- Aviation insurance pricing.
- Quote management.
- Policy administration.
- Underwriting task assignment and workflow control.
- Underwriter fraud detection.
What makes ScienceSoft different
We achieve project success no matter what
ScienceSoft does not pass off mere project administration for project management, which, unfortunately, often happens on the market. We practice real project management, achieving project success for our clients no matter what.