Oftentimes it is not what you build, but how you build it that makes all the difference. For insurers, the process of building products has a direct impact on speed to market, innovation, competitiveness, and meeting market demands. Unfortunately, legacy technology and traditional processes are ineffective in today’s market. Insurers need solutions that are configurable, simple, and easy to maintain. Low-code/no-code (LC/NC)software may be the answer.
LC/NC software is not a new concept, but is becoming more prevalent in the insurance industry. Given its level of configurability, insurers typically experience faster development time, cost effectiveness, and simplified maintenance. The problem is that many insurance software solutions sell on the promise of configurability, but still depend heavily on custom development.
The dilemma is that insurers want to put more control in the business and mitigate the need for custom coding. For many insurers though, the burden of coding has been masked with proprietary syntax or coding languages. It may not look like code or smell like code, so users don’t think they are coding. Unfortunately, it’s still coding.
Just because you are “coding with pictures or shapes” doesn’t mean you are configurable.
The reality is that in order to meet the demands of speed to market, lower cost of maintenance, and being able to adapt quickly to market conditions, insurers need truly configurable, not customizable, solutions.
When you are replacing a decades-old legacy system, anything newer seems better. But how do you know if what you’re getting is actually better? Here are some questions to consider…
- How configurable is the system
- How quickly can you implement
- How flexible is it when you need to change course
- What additional skills will your team need to learn in order to use the software
The ClarionDoor Experience
At ClarionDoor, we believe that insurance software should be 100% configurable. It’s this configurability that will give you speed to market, real flexibility, and the power to innovate your insurance products.
ClarionDoor software was built for insurance innovation and designed to distribute your products futurefast. All of our solutions are cloud-native, built on an API-first architecture, and configurable by business users. By leveraging common tools, like Excel, to facilitate the development of insurance products, there are no specialized skills needed to use our software – just your business knowledge!
Are you ready for a new experience? Start today with ClarionDoor.
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