Enterprise digital transformation is not simple by any means. Still, in regulated industries such as banking, insurance, and asset management, the task is further compounded by old-school legacy systems, compliance, and security standards.
But with the surge in demand for remote servicing and remote work that is sweeping the globe as a result of the ongoing COVID-19 pandemic, IT leaders have to embrace change and do so quickly.
Charlie Munger, Warren Buffett’s right-hand man today, is an accomplished investor in his own right. Just like Buffett, Munger had his own investment partnership (he was convinced to go into investing by Buffett, leaving behind a career in law) before coming to Berkshire Hathaway. However, unlike Buffett who followed a deep value investing strategy as Read More
How do organizations move forward amidst soaring uncertainty?
The answer is flexibility. Companies may need to use multiple supply chains or find different avenues for delivery of products or services. Existing business models will give way to solutions that provide for greater flexibility. And no-code development platforms are uniquely positioned to deliver just that.
What is no-code development, and how can insurers benefit from it?
A no-code development platform is a tool that makes it possible for citizen developers (business users without a technical background or coding skills) to create apps through a visual, drag-and-drop environment. Here is why no-code platforms are the future of digital transformation in insurance:
No-code tools deliver agility
A slow-moving enterprise is a thing of the past. In a rapidly evolving landscape, speed is the name of the game. No-code tools speed up release cycles of new digital products by a factor of 10 by delivering templates and pre-made components for common use-cases and customizing according to brand guidelines without needing to involve IT.
Reduced development and maintenance costs
Resource-strapped companies are looking for every opportunity to slash costs and when it comes to digital transformation, human resource expenses can be astronomical. By giving the power to develop digital tools to business users with minimal IT support, insurance companies can save tremendous resources.
Superior customer experience
Servicing customers remotely through a call-center, customer portal, app, or a website is no longer optional. At the same time, customer expectations are as high as ever. Agility and the ability to change directions quickly, understand customer needs, and continuously evolve processes and improve upon existing workflows is a competitive advantage that is hard to dismiss.
Shifting gears on digital transformation in insurance
Insurers can no longer afford to keep business as usual when it comes to customer experience. Now more than ever, the industry needs to find quick and effective solutions for eliminating manual processes, paper-based workflows, and tedious paperwork. No-code platforms are uniquely positioned to deliver this goal.
EasySend is a process streamlining and intelligent automation company. EasySend’s no-code platform is used by leading insurers, financial institutions, and other companies to change their industries by digitizing customer journeys. EasySend is putting an end to inefficient manual internal processes and frustrating paperwork that impede data collection, customer service, customer satisfaction, and revenue growth.