Low-code platforms are rapidly gaining popularity in the insurance industry as a way to simplify and automate business processes and increase the speed to go to market.
These new generation low code platforms allow insurers to create and deploy digital applications without requiring extensive technical knowledge or coding skills. An initial investment on reputable platform is required but post this the Insurers can have the flexibility and the agility they have craved.
The benefits of low-code platforms in the insurance industry include:
Another effect of the new generation of the digital insurance platforms is that they allow more resources from within an organisation to get involved with the development of new insurance products or services.
With low-code platforms, non-technical users such as business analysts and subject matter experts that have a deep understanding of the insurance industry can easily create digital applications without requiring extensive coding knowledge. This allows for greater collaboration and helps to break down the traditional silos between IT and business team
Additionally, low-code platforms can also help to democratize technology, enabling smaller organizations to develop digital applications that would previously have been too complex or expensive to build. By empowering a wider range of individuals to participate in digital development, low-code platforms can help organizations to become more agile, innovative and responsive to customer needs.
Low-code platforms have gained popularity in the insurance industry, as they offer a faster and more efficient way of developing digital applications. However, security is a critical concern for any platform handling sensitive data, and this is particularly true for the insurance industry where regulations like the GDPR and HIPAA require strict data protection measures.
In conclusion, while low-code platforms offer many benefits for the insurance industry, it is important to carefully consider security when selecting and using these platforms. Insurers should carefully
assess the security features and capabilities of low-code and no-code platforms, and ensure that they are in compliance with relevant security regulations and standards.
In conclusion, no-code and low-code platforms are becoming increasingly popular in the insurance industry as a way to increase agility, reduce costs, and improve the customer experience.
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Discover Digital has been in the forefront of the Digitisation of insurance since 1995, developing solutions and helping Insurers globally through their digital transformation and revolution. Talk to our team today for an initial conversation and demo of the next generation of digital insurance platforms. Take a look at our case studies to get a flavour of the insurance products and industries we have worked with!