Insurance Edge had a brief chat with Willem van Enter from Outsystems, at the NextStep event today, to get a little bit of background on the changes within insurance IT and platforms in general.
IE: Give us a little recap as regards low code development.
WVE: A few years back we struggled to get 100 people into a room to discuss this topic, but now we have 2000 attending, the interest is huge and people in all kinds of industries can see the potential in having a software system that’s adaptable, develops with your markets and involves more staff within your company.
IE: Years ago, IT was very much in the basement, and marketing were on a different floor – rarely did the two meet!
WVE: Exactly, but with low code anyone can develop their own insurance app. You don’t need technical skills to set out the basics. But of course you do need people from compliance and legal to look at the new product once you have a working prototype. In the last five years the lead-in time has dropped from as much as two years, to just a few days. Transformational!
IE: Are there still bigger insurers reluctant to ditch their legacy systems?
WVE: Yes, there are some and you understand the fear involved in throwing everything out. But here’s the thing; the people that look after these old IT systems are ready to retire, and the tech itself is so outdated it barely works properly. Change is inevitable and most insurers undertand that it has to happen. The upside for them is that Outsystems are really the only company who can replace their legacy systems and help you build something customisable, agile and ultimately delivers a much better improved customer experience.
IE: Why does that matter so much?
WVE; In the future, so many companies are going to survive or persih based on that experience, the reviews online, the way claims are handled. That customer service is what sets brands apart and low code enables everything within the claims process to run quicker and better, yet still with a human touch.
You can’t automate everything of course, but using tech to make people feel that their claim is being dealt with is the best marketing any insurance company can do.
IE: Interesting insights, thank you.