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Boosting Insurer Productivity with Low-Code/No-Code Technology

November 18, 2020 | Stephen Browne

Back in 2013, a study conducted by Bain & Company revealed some interesting figures. According to the study, almost 60% of insurance customers predicted web-based communication channels to become the primary mode of communication with insurers in the future. Flash forward to 2020 and we are seeing the insurance industry increasingly rely on cutting edge, digital technology to assess claims, develop products, and deliver satisfying customer experiences. One technology that has played a defining role in simplifying enterprise application development and deployment across these key areas is low-code/no-code. Low-code/no-code platforms require minimal to no coding expertise. And, this allows end users to develop solutions based on their own requirements and experience. It simplifies the enterprise application development process with a user-friendly interface using a modern technology stack, drag-and-drop components, and model-driven logic. In a nutshell, the solutions developed on ta low-code/no-code platform can be managed by the business, verified, and implemented by IT, and they can deliver targeted outcomes rapidly to meet operational, regulatory, or any other urgent requirements. From delivering rapid results to driving operational excellence, accelerating returns from new business services, automating manual processes, and streamlining workflows; low-code/ no-code technology is rapidly bridging the gap between business case and reality. On an organizational scale, it reduces the burden on IT teams, increases intra-organizational collaboration, and delivers cost and time-to-market advantages for digital solutions. To learn more about low-code/no-code technology and its relevance in modern application development environment, download and read our whitepaper here.
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