Digital Insurers & Innovation in Insurance - Examples & Testimonials

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Facing the digital challenge

For insurers, the digital age presents both threats and opportunities. Customers are less loyal, and more InsurTechs are entering the market with disruptive ideas. To remain relevant, insurers must redefine their products, services and business models around the customer.

The challenge is that most insurers are bogged down with legacy systems and large modernization projects that consume resources and hamper innovation. As a result, IT teams can’t cope with growing business demands and the accelerating pace of change.

Accelerate time-to-value with Mendix

Leading insurance companies use Mendix to quickly build and continuously improve mobile and web apps that drive business innovation. Our platform is uniquely designed to support rapid, iterative development by a broad range of users while ensuring that IT retains control.

Bring business and IT together to rapidly deliver applications that:

Increase premium volumes

Launch new products in under 6 weeks

Improve customer & broker loyalty

Deliver self-service portals in less than 90 days

Drive operational efficiency

Cut policy renewal processing cost by 80%

Address risk & compliancy

Get your pricing/ratings engines out of shadow IT

Leverage new technology

Test new ideas leveraging machine learning, AI and IoT

Digital product delivery

Deliver new products in under 6 weeks

Insurers can increase premium volumes by delivering digital products that better suit changing customer behavior or preferences. Using Mendix, you can bring new propositions to market in just weeks, fast-tracking product innovation in parallel to legacy modernization projects with our low-code platform.

Rapidly deliver self-contained insurance products that span quote-to-buy and back-end processes, including policy management, billing and claims. Test innovative ideas (e.g. usage-based insurance) that leverage IoT, analytics and other emerging technologies. Upon market validation, easily connect new products to your core back-end systems.

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Customer & broker engagement

Deliver new portals in less than 90 days

Despite changing customer preferences, only one in 10 insurers has aligned its digital strategy to maximize effectiveness across the full journey. Using Mendix, you can rapidly deliver multi-channel applications and portals that improve customer and broker loyalty.

Provide a seamless multi-channel experience across web, mobile, conversational UI and whatever comes next. Experiment with AI, robotic process automation (RPA) and other technologies to deliver automated, personalized customer interactions. Deliver the right applications, no matter what insurance business you’re in.

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Operational efficiency

Drive operational efficiency

Integrate seamlessly with existing legacy systems using our Connector Kit and messaging services based on industry protocols such as Acord. Easily and continuously adapt your applications to keep pace with changing business and market requirements.

  • Claims processing, digitizing previously manual processes.

  • Broker workflow automation, removing spreadsheet-based work tracking and adding management information and process metrics.

  • Pricing and rating, removing spreadsheets from the underwriting process to lower costs, reduce risk and ensure consistent pricing.

  • Renewals, digitizing manual activities reducing processing time by up to 75 percent

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