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.
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.
More than 4,000 organizations in 46 countries use the Mendix low-code platform. An active community of over 300,000 developers has created over 950,000 applications – and counting.