Remember 1998? A time when companies were launching their first websites, hard coded in HMTL with brochure information, animated GIFs and manual back end processes? It seems like a long, long time ago.
Today, most businesses needing a professional website quickly will take the no-code route. For a fraction of the cost of web developers, they sign up for Squarespace or Wix or one of the other companies that allow sophisticated, beautiful-looking sites to be designed with ease. You don't need to know about the 1,000s of lines of code that lie beneath, you can build what you want intuitively and the platform takes care of the donkey work.
An insurance company operating in a regulated space is different. Or is it?
The need to process claims by dealing with customers, garages, inspections and third parties brings with it a complex functional workflow that needs web developers, systems architects, UX and UI experts. Or does it?
The biggest single disruption in the insurance world of the 2020s won't be regulation or changes to the Ogden Tables, it will be the rise of no-code systems that can cope with complex processes without the need for the business to invest 10s of £millions in developers.
In most companies, no matter how urgent the business need, the executive sponsor involved joins the IT priority list. The pit of despair. Developers are a finite and expensive resource plus they have to ensure that a change in place 1 doesn't cause havoc in place 2. Regression tests, UAT and most of all, cash. It costs a lot of money to change a system that is hard coded.
The rise of no-code digital claims platforms, spearheaded by 360Globalnet, put take the power to adapt and reaction from the IT department and put it into the hands of managers and business experts. A claims manager can effectively design a new process - including sophisticated automated, rules engines, workflows and supply chain integration - using plain English. Anyone who can use Google Forms can manage their business without holding out the begging bowl to IT priorities.
COVID-19 taught the world that when stuff happens (or perhaps another word beginning with 'S'), the ability to react quickly and deploy change quickly is the most crucial difference.
In claims, that need to react is ever present. Fraud, personal injury, weather, supply chain availability, changing consumer expectations - all of these are fluid. React quickly and insurers can control costs, improve satisfaction and retain more customers.
Simple no-code front ends for complex systems will deliver this change at a tiny fraction of the cost and time of the status quo. Improving claims systems is the last frontier for improving insurance shareholder returns and no-code will lead that improvement.