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.”
Additional Resources
- Case Study: LV= Turns to Mendix App Platform to Put Innovation on the Fast Track
About Mendix
Mendix, a Siemens business, is the only low-code platform designed to address the full complexity of enterprise software development challenges. Deploying point solutions to departmental problems solves things at a micro level—but if you want to make a significant impact on your business, you need to go bigger and build powerful portfolios that move the needle sustainably and strategically.
With Mendix, enterprises can take on more complex, transformational initiatives by engaging everyone in capturing requirements, forming ideas, and embedding value assessment throughout the lifecycle of the software portfolio.
Focus on the right problems while relying on governance and control to avoid unnecessary risk. Mobilize your organization. Build the change readiness muscle. And when the next big idea drops, turn it into an outcome quicker.
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