Any dream home TV fan who enjoys the many shows documenting visionaries who create inspiring dwellings on tight budgets will have noted one particular element of most designs that is now almost omnipresent: prefabrication.
Often entire structures go up in days because they are based on prefabricated elements that are designed to fit together quickly, seamlessly, on budget and without ‘will it fit’ concerns.
In Insurance IT, the same phenomenon is allowing more and more big name insurers to move fast. Only it’s called ‘no-code’ and the beauty lies in the ability to build customer-facing, automated workflow systems or processes out of advanced elements that will fit together automatically. The hard work goes into the preparation of all the elements so the fit is perfect, no matter how complex the design.
At 360Globalnet, we have taken 10 years to build and perfect an advanced insurance digital claims no-code platform where every digital element seen in the modern retail experience is available ‘out of the box’.
Once in the hands of your business, no-code technology allows practitioners in claims departments to adapt, configure, add to and deploy their own builds on the basic structure without needing to know a single line of code. They build the claims processes they dream of at the desktop.
Contrast this with the alternative trend for knitting together point solutions.
Each element in a point solutions patchwork – say the insurance equivalent of bi-fold doors or hi-tech windows – they may well be amazing on their own. However, what if the rest of the dimensions and elements of the build don’t quite match up because the elements weren’t designed to fit together from the ground up? This way lies the open chequebook of integration, consultancy and in this case, the compromise of a cold draft creeping through the cracks.
A point solution will indeed perform well in theory (and in isolation) but having multiple bolt-ons that the business has to mesh together seamlessly starts to reintroduce the very problem businesses need to mitigate – complexity. To mix metaphors, we all know that too many cooks do spoil the broth.
A recent Insurance Thought Leadership article stated that the industry was too focused on what they described as “the shiny objects” like AI, and not enough on the issues that really matter to customers and corporate bottom lines. The practicality of trying to knit together these shiny objects embeds the complexity and expense that Insurers need to lose… not to mention the CapEx /OpEx budgets and consumer demand timescale that have never been under more pressure.
Here at 360Globalnet, our concentration is on delivering all the essentials - which is not easy – such as all the interconnectivity between every claim participant, workflow and process, with all the key digital capabilities included out-of-the-box. All wrapped up in our easy to configure no-code technology, that can work as a standalone platform or as a digital wrap-around to plug the gaps in legacy software.
If you’d like to know more about our award-winning digital claims platform, you can find out more here. Alternatively, get in touch, we’d be delighted to help.