Mendix Customer LV= Insurance Wins 2015 Celent Model Insurer Award for Innovative Use of Technology
Fast-Track Innovation Team Delivers New Applications in Record Time, Saving an Estimated £5 Million and Sustaining LV=’s Growth
BOSTON and LONDON – April 15, 2015 – Mendix, the enterprise app platform as a service (aPaaS) company, congratulates customer LV= Insurance on winning the Celent 2015 Model Insurer Award. The international awards recognize businesses that demonstrate a cutting-edge approach to using technology for core business benefit.
LV= won the award for its fast-track innovation process, which has harnessed the Mendix App Platform and agile development methodology to achieve an unprecedented level of speed, agility and collaboration between IT and the business. Using Mendix, the team delivered a series of innovative applications that have generated major cost savings and helped sustain LV’s growth in a competitive market.
Specific projects include the LV= Broker Portal, which empowers broker partners with self-service capabilities, reducing administration time and cost. In addition, LV= launched two new end-to-end insurance products, including Sick Pay Insurance, with capabilities spanning customer self-service, back-end administration, claims and fulfillment. These products were delivered at a cost five to six times lower than through traditional development approaches. In total, LV=’s fast-track innovation process has saved an estimated £5 million since 2012.
“Fundamentally, Mendix has helped LV= achieve massive gains in the velocity and quality of application delivery,” said Rod Willmott, fast track innovation director for LV=. “Projects that never would have seen the light of day are now possible and are contributing directly to the growth and differentiation of our business. Mendix is helping LV= to innovate and compete with apps.”
LV=’s fast-track innovation process illustrates the significant benefits of adopting a bimodal IT strategy. With this approach, IT organizations augment traditional development approaches with a ‘fast lane’ designed to address emerging business needs. Mendix’s visual, point-and-click development tools and agile project management capabilities empower small, cross-functional teams to build apps in short, iterative cycles together with end users. The result is faster time to market, greater agility, and first-time-right delivery of innovative apps.
“We congratulate LV= for winning this prestigious award and are proud of the role Mendix has played in helping the company to innovate faster,” said Gottfried Sehringer, vice president of marketing at Mendix. “LV= is truly setting the standard for insurers in terms of leveraging rapid application delivery to drive sustained growth in today’s digital economy.”
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Mendix, a Siemens business and the global leader in enterprise low-code, is fundamentally reinventing the way applications are built in the digital enterprise. With the Mendix platform, enterprises can ‘Make with More,’ by broadening an enterprise’s development capability to conquer the software development bottleneck; ‘Make it Smart,’ by making apps with rich native experiences that are intelligent, proactive, and contextual; and ‘Make at Scale,’ to modernize core systems and build large app portfolios to keep pace with business growth. The Mendix platform is built to promote intense collaboration between business and IT teams and dramatically accelerate application development cycles, while maintaining the highest standards of security, quality, and governance — in short, to help enterprises confidently leap into their digital futures. Mendix’s ‘Go Make It’ platform has been adopted by more than 4,000 leading companies around the world.