With Low-Code to digital insurance

Many insurance providers have already digitalised their services on their customer interface. However, they need to play catch up with the internal work processes that still require a lot of manual activity. Digitalising or automating these processes to make them faster and more efficient is often a difficult feat to accomplish while still conducting day-to-day business. This is because many existing legacy systems have little to no interfaces, which makes them very inflexible.

Low-code solutions have the potential to solve this dilemma. Process diagrams and ready-made modules enable insurance providers to implement their digitalisation projects with significantly less or even no programming effort, thereby reducing their employees’ workload. Using the right low-code platform and solution strategy can provide a valuable supplement to a company’s legacy systems and accelerate the digital transformation both in house and externally.

• One insurance provider launched an app for reporting motor vehicle accidents within the space of a few weeks.
• Another was able to use low-code to set up a broker portal in just three months.
• And yet another insurance provider used low-code to optimise their underwriting process. The aim was to reduce the complexity of the decision-making process and enable transparency at every step along the way.

While it’s true that most low-code platforms also require interfaces or database access in order to be used effectively, robotic process automation (RPA) can be used to do away with these requirements. RPA providers are able to capitalise on the low-code approach for this exact reason. This technology is easy to use and can be harnessed to access existing insurance systems in the same way a human user would.

In addition, insurance processes, such as application processing, can be carried out across multiple platforms and automated within just a few weeks or months. New AI-driven technologies and methods or additional sources of data (such as IoT or telematics) can also be connected to the core systems using RPA.

The variety of potential applications and approaches for low-code and RPA also come with their own pitfalls. Taking a holistic approach is not only recommended while selecting the appropriate low-code platform and/or RPA solution, but afterwards as well. The following, among other things, are examples of what to consider in the process:

• Responsibilities
• Quality assurance
• Interfaces (system integration)
• Maintenance
• Knowledge transfer

Each phase of the process for implementing a low-code and/or RPA solution has its own challenges. adesso uses its industry and technology expertise to helps its customers avoid the typical stumbling blocks.

Would you like to start using low-code and/or RPA or expand your existing set-up? We would be happy to use our experience in and solutions for the insurance industry to assist you. You can set up an individual and non-binding consultation with us, in which we will work together to determine which low-code solution is right for your digitalisation strategy. Have you been using low-code and/or RPA for a while now? Get in touch with us – we would be happy to assist you with scaling and sustainable use.