Insurtech Insights: Reviewing No-Code Solutions & Configuration
From processing a renewal to marketing an account or quoting new business, insurance entities face a seemingly unending list of steps and processes. Luckily, today’s technology can help complete many of these time-consuming, redundant and manual tasks.
When you stop and consider everything that insurtech can do for wholesalers, MGAs, carriers and independent agencies, it makes you wonder — why isn’t every insurance business taking advantage of these capabilities?
Configuration Explained
A big reason why the insurance industry continues to be a slow adopter of technology has to do with the process of configuration. But that is where no-code solutions come into play.
Simply put, configuration is the act of designing and organizing operating systems in a way that allows them to be improved with new parts, features and abilities. A good example would be an insurance business that would like their existing computer system to be configured to automate quotes.
However, when implementing an insurance platform to help solve many different processing, rating and quoting challenges, a vast amount of information from multiple systems has to come together, be configured, and then be integrated for systems to effectively communicate and work together.
Benefits of No-Code Solutions
No-code configuration acts as a type of connector, eliminating the need for developers to configure applications, marketing, and other workflow processes so they can integrate and link with all types of software systems.
No-code configuration can share applications, rating information and other critical data across systems. With no-code solutions, insurance entities have the flexibility to update workflow processes as needed, without the time and expense of having to start over from scratch.
There are several ways an insurance business can benefit significantly from no-code software configuration:
- Faster time to market: Rapidly build and deploy applications for new insurance products
- Reduced IT dependency: Be empowered to take ownership of your digital solutions
- Lower cost: No-code solutions often have lower development costs
- Flexibility: Adapt and update applications quickly and stay responsive to market dynamics
- Streamlined workflow: Improve processing, policy management and customer onboarding
- Better customer experience: Self-service portals, personalized services and more
- Analytics & insights: Built-in security measures can reduce the risk of data breaches
- Integration with legacy systems: Bridge the gap between old and new
Overall, no-code software configuration offers insurance businesses greater agility, cost savings, and the ability to adapt in an ever-changing industry landscape. Surefyre can help you focus on delivering better customer service while staying ahead in a competitive market.
About Surefyre, Inc.
Surefyre is a highly configurable insurance automation platform and agency portal focused on digital distribution and automated workflows. Our easy-to-implement process can integrate with almost anything, from outdated legacy systems to top-of-the-line programs. Our code-less integration platform makes your life easier by automating the submission, rating, quoting and binding process for all P&C insurance products.
To learn more, contact Shawn Gonzales, adviser and account executive, at sgonzales@surefyre.co or 415-480-9283.
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