Mendix Delivers Agile Self-Service Portal for Arch Re Facultative
Mendix’s innovative technology enables Arch Re Facultative to streamline underwriting process and optimize customer service
Mendix, the global leader in model-driven application development, and Arch Re Facultative, a leading supplier of facultative reinsurance in the US and Canada, today announced the successful launch of a web-based Program Portal developed by Mendix for use by Arch Re Fac’s client insurance companies’ underwriters.
The Arch Re Fac Program Portal allows a client underwriter to submit a risk and the application verifies whether that risk fits the terms of the facultative program. If the answer is yes, the price is instantly provided and the client can bind. Risks that do not meet the terms of the contract can be submitted for special acceptance without losing any of the input data. The application also communicates Arch Re Fac’s structure and price for the Special Acceptance to the underwriter, who can subsequently bind using an application function. Additionally, clients can endorse and cancel risks – either under the terms or the contract or Special Acceptances – via the Arch Re Fac Program Portal.
“The Mendix Model-Driven Application Platform has all the capabilities to create ACORD Compliant Insurance applications, allowing for integration with all stakeholders in the Insurance value chain and driving efficiencies,” states Derek Roos, CEO and co-founder of Mendix. “The core benefit of Mendix’s model-driven development approach is our ability to model specific data requirements, create a rich user interface, and implement complex workflows and business rules. We leverage existing data sources to produce an enterprise class web application that can integrate third-party data into real-time workflow.”
“Arch Re Facultative selected Mendix’s model-driven development technology to create a more efficient mechanism for clients to submit, quote and bind new risks subject to the contract. We needed an enterprise-class platform scalable to our continued growth,” comments Philip Augur, COO at Arch Re Fac. “The application implementation cycle with the Mendix platform is the fastest I have experienced to date. You can take a concept or change and realize it quite quickly with the Mendix platform.”
Mendix provides the tools and architecture to model, build, test, integrate, deploy, manage and optimize enterprise class ACORD compliant applications, enabling insurance companies to transact business electronically with agents, brokers and clients in the insurance value chain. The Mendix Platform is designed to reach all business users, allowing managers, end-users, business consultants, developers, and information architects to work closely together in optimizing processes.
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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.