New call-to-action

CIOs and technical team leaders in insurance are faced with the challenge of accelerating operational efficiency and turning data into an enabler of business value and revenue growth across lines of businesses (LOBs).

But many traditional technology solutions still require custom development and coding by IT, sapping time and resources for development, testing and maintenance. These backlogs in turn greatly delay the ability to release digital solutions to the employees that need it to expedite and improve sales, claims and servicing.

New call-to-action

But the issues only start there when looking at the impact CIOs and technical teams face when managing code-heavy systems. Here are 4 major issues that come with code-dependent solutions that harm insurers’ operational efficiency, drive up costs, and complicate compliance:

1) Poor Integration Between Legacy Backend and More Modern Frontend

Many services lack API flexibility, consistency, and standards, making integration between legacy backend systems problematic. CIOs must ensure that the back end of any digital solution insurance customers experience is scalable and enables the front end to load quickly.

While systems such as Business Process Management (BPM) and Robotic Process Automation (RPA) help automate operational and back-office tasks — customer-facing solutions require intelligent automation that is digitally complete and unifies a businesses’ backend and frontend.

2) Disjointed Front-End Systems Infuse Friction and Delay Turnaround Times

Insurance companies must also ‘stitch’ together several siloed customer-facing solutions to account for all steps in the customer journey — from ID verification, to eSignatures and eForms, right onto payments. Integrating and maintaining the functionality of these systems is time-intensive and results in manual breakpoints that drive customers off of digital channels, producing friction for both customers and agents, while prolonging completion times for insurance processes.

3) Human Errors Risk Functionality, Security, and Compliance

Solution developers constantly run continuous maintenance cycles to keep custom software secure, find and fix bugs, and apply updates that don’t always integrate well with a company’s existing systems, leading to critical errors and gaps that show up on the customer side. Human errors are inevitable, and also can also open up security and compliance risks.

4) IT Drain Drives up Costs and Delays ROI

Dependence on IT for development and maintenance forces CIOs to devote precious developer talent and resources on simply maintaining the status quo for the business. Those wasted resources translate to higher Total Cost of Ownership (TCO), and slower time to ROI, which is why IT dependence often sees insurers waiting years to bear fruit from their digital investments.

5) The Cure for Code-Dependence? Remove it Burden & Empower Productivity With No-Code Automation

Scaling intelligent automated workflows at the speed of business requires solutions that can deliver immediate and clear impact with zero coding required by IT.

A no-code platform:

1) Liberates LOBs to roll out solutions without the need for IT

No code architecture eliminates the need for custom software development. This makes it easy for customer-facing departments to build and tweak customized insurance workflows by simply dragging and dropping requirements into the process, helping to accelerate impact on the bottom line while removing the burden from IT.

 

2) Creates agile integrated workflows

CIOs can capitalize on the agility of no-code automation by seamlessly integrating workflows into their existing infrastructure with flexible APIs.

No-code automated workflows integrate with:

  • Existing workflows
  • CRMs
  • Third-party business applications
  • Agent call center toolbars

3) Eliminates repetitive work and friction for employees and customers

Entire sales and claims journeys can be customized to each customer requirement using conditional logic.

For example, insurers can customize required signatures, eForms, documents or supporting evidence the need to collect, and policy terms based on the customer’s age, medical history and any other risk factors. Customers are asked to provide only the information that is needed from them, no more and no less, speeding completion times for insurance sales and claims.

picture1

4) Accelerates business value and lowers TCO

For customer-facing departments, taking IT management and maintenance out of the equation lets insurance LOBs speed time to market for digital solutions that accelerate their sales and claims processes. This helps drive value and growth while reducing TCO in parallel, saving significant time and money.

5) Frees up developer talent to work smarter and make a greater impact

For CIOs, transitioning to no-code solutions helps them get more out of their best and seasoned developers by relieving them of monotonous maintenance tasks and freeing them up to focus on more strategic projects which add meaningful value.

With an end-to-end, no-code platform, CIOs can deliver business impact to the organization faster with digitally complete insurance processes, all while lightening monotonous workload for IT and gaining more efficiency and value from their technical teams.

New call-to-action

Read This Next

reviews"Great tool to expedite customer service"

The most helpful thing about Lightico is the fast turnaround time, The upside is that you are giving your customer an easy way to respond quickly and efficiently. Lightico has cut work and waiting time as you can send customer forms via text and get them back quickly, very convenient for both parties.

"Great Service and Product"

I love the fact that I can send or request documents from a customer and it is easy to get the documents back in a secured site via text message. Our company switched from Docusign to Lightico, as Lightico is easier and more convenient than Docusign, as the customer can choose between receiving a text message or an email.