no-code, a time-to-market accelerator for innovative insurance products

The wave of digitization in the insurance sector is very strong, especially in terms of travel and customer relations. While it used to take 6 to 12 months to launch a new product or significant new customer relationship feature, insurers are realizing that today such delays are no longer acceptable. Another observation lies in the fact that many of the information systems that are still in operation despite their age are completely unsuitable for the new realities of the market.

For more than 20 years, Prima Solutions has supported insurance professionals in their digital transformation projects. We see a very strong interest in agile software solutions, even without code.

The central idea of ​​no-code solutions is to allow non-IT specialists to configure their software platforms themselves to shorten their delivery and modification cycles. This independence is then achieved through training and reuse of predefined components. Of course, these “off the shelf” components are always in the hands of non-computer specialists.

The advantages of a no-code solution for an insurance company are numerous. In fact, having a code-free subscription and management platform allows an insurance company or mutual insurance company to drastically reduce the duration of the design and launch cycle of new products. The deadlines for improving existing products or changing guarantees are also reduced.

Among the concrete examples of the use of no-code, we see that our users also rely on our cloud platforms to “revive”, in the commercial sense of the term, relatively small wallets embedded in their heritage. Thus, they continue to use their heritage to manage their most important portfolios, and they gain agility by gradually migrating their other product lines to a more modern platform.

Choosing a no-code solution therefore becomes essential for insurance companies that want to avoid long and costly IT projects and that want to be fully part of modern, 100% digital insurance.

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