Greetings from Amsterdam insurance fans, and the Outsystems NextStep event got underway this morning with an in-depth overview of low code, and just how effective it can be for brands old and new. It has particular resonance for insurance brokers, MGAs and big insurers and we will get to that later.
What is Low Code?
Yes, your IE editor and blagger-in-Chief Alastair was completely clueless as well. So let Paulo Rosado, CEO of Outsystems sum it up for you;
`Low code allows companies to disrupt market sectors, and constantly refine and differentiate their offer.
You have a system which is the exact opposite of legacy systems, which allowed you to do a great deal of stuff, but when you wished to customise things, you hit a wall. An agile, fluid web development system that lets your company build exactly what you – and your customers want – is the online future. There is also the opportunity to add multiple layers of automation, like chatbots, voice analytics, online photo search, pre-filled forms and so on.’
This morning’s session also saw speakers from Outsystems partners describe how their companies, like Toyota or Vopak, benefitted from a new software system that allows them to fine tune their offer.
Value to insurers
`We can define our services, not be defined by our software supplier.’ said Leo Brandt, CEO of Vopak.
It this measure of control that is arguably the most interesting aspect for anyone within insurance, which as we all know is split into many different sectors; commercial, marine, construction, motor, motorcycles, gadgets, home, life and so on.
All those niches have very different customer bases, so for example a classic MG midget car owner in his 60s may not have a mobile DJ system and a 2K mountain bike to insure. A small shop owner needs public liability, cyber maybe, plus stock damage, fire, flood and more.
Insurance customers all need a different tone of voice in regards to marketing, onboarding with policies, communications, claims etc.
This is where a low code platform lets you, the broker or insurer respond to the typical problems your customers have, speak to them in a language they can identify with and automate the admin stuff that can be speeded up. Claims is perhaps the biggest stress test for any insurer, so watching demos of call centre chatbots, plus human callers using a low code dashboard was really useful. Outsystems also use True Voice, which analyses the emotion behind the actual conversation. Very handy indeed.
Your roving editor will be doing some interviews later today and posting more pics n words from this fascinating event. Yes, we just described an IT conference as fascinating, and no beer was involved. #truestory