DIGITAL TRANSFORMATION a mass overhaul of the entire infrastructure . By using a low-code application platform , companies can tailor and develop their own applications to best accommodate their needs .”
How do no-code platforms benefit insurers ? Insurers are increasingly turning to no-code platforms , attracted by the ease with which they can build quote journeys , automation rules , documents , rates and email templates among other things . Tim Hardcastle , CEO and Co-Founder of Instanda , explains : “ No-code platforms are tailored to the insurance industry , with all of the key workflows and processes already built in to help automate the entire insurance value chain .
“ Take , for example , automated renewals . When the renewal staging date passes , the system can be configured to automatically collect third-party , fire underwriting rules , then automatically generate and send the necessary documents , making it so that underwriters don ’ t need to spend valuable time on low-risk policies .”
Filip Verloy is a technical evangelist for API security platform Noname Security . He elaborates : “ No-code offers numerous benefits over the alternative , resource-intensive way of building custom applications . One benefit is the functionality can be closely matched to the actual process being digitised .
“ The analogue process is usually the starting point for the creation of the lowcode app , whereas it isn ’ t possible to fully customise regular , off-the-shelf software to the same extent . If we think about the insurance industry – with its myriad of rules , regulations and need for integration with external systems – a low-code-accelerated process is ideal .”
“No-code offers numerous benefits over the alternative , resource-intensive way of building custom applications ” FILIP VERLOY TECHNICAL EVANGELIST EMEA , NONAME SECURITY insurtechdigital . com 61