Are you looking for a new insurance program to replace the one your company currently has? We know it can be hard to find an insurance that offers what you need at competitive rates. That’s why we’ve created this article that discusses how different programming languages might impact your search. We’ve also compared primary insurance carriers that work with each language to help you get started.
Let’s take a look behind the scenes of insurance programmers and see what parts would require some programming effort. These parts include quote generation, policy issuance, payments, claims processing, and product development. After we finish discussing all these different parts, I’ll try to give a quick summary on what I think is the best programming language to use.
The difference between an insurance quote and a policy might be confusing at first, but they are actually fairly simple. An insurance quote is just the promise from an insurer to provide coverage for your employees if certain conditions are met. The price mentioned in the quote is just how much it’ll cost you to purchase this promise. The policy, on the other hand, is the agreement that says your company will pay for certain benefits in return for a monthly premium. So in short, an insurance programmers quote is just asking “how much would it be if I agreed to provide coverage under these conditions?” and a policy is the agreement saying “I agree to pay this much money in exchange for these benefits.”
Policy issuance and payments are actually pretty simple as well. When you buy a new policy, your carrier just creates a new product ID and saves it inside of their system for you. They also create a payment method with an expiration date that allows them to charge your credit card for the first payment. If you want to make a premium payment, then they just debit your account and update that payment method with a new expiration date. These types of tasks can be easily done in any language as long as you have good documentation on how the API works.
Product development is also not too complicated, but it might be a bit more difficult without the right tools. Most carriers will require their product to have a web site that can accept quotes, issue policies, and allow payments online. All of these tasks would require good programming skills, but they are pretty straightforward once you get going.
If we move on to quote generation, things become a bit more complicated. The first step would be to take your company’s data and turn it into a standard format that the carrier can read. This process is called normalization. In addition to this, you’ll also need an algorithm that will actually generate the quote based on all of your inputs. Finally, you’ll need ways of sending those quotes out as well.
This is where different insurance programmers languages can help you speed up your development time. Data integration and normalization will probably take a bit longer since you’ll need to write your own libraries. This means that if you pick a language that has already completed these tasks, then it might save you time in the long run.
One of the more common programming languages is PHP. Since this language is used for web development, it might be a good choice if you’re building an online insurance program. The downside to using PHP is that it doesn’t have great support for normalization and data integration. This means that it might take you longer to develop these parts compared to other languages. Once it comes time to generate the quote, however, PHP can handle that task pretty easily since it’s built for web development.