Mendix Drives Application Innovation for Top Insurance Companies
Growing Number of Insurers Use Mendix to Rapidly Deliver Customer-Facing Applications that Drive Differentiation and Growth
BOSTON – October 21, 2013 – Faced with mounting competition and customer expectations, global insurance companies face intense pressure to differentiate themselves through innovative products, systems, and processes. Mendix, the app platform company for the enterprise, announced today that a growing number of insurers have adopted the Mendix App Platform to rapidly deliver applications that address pressing business needs. More than 20 insurance customers, including LV=, Liberty Mutual, Achmea, Aegon, Agis, Arch Re Facultative, Delta Lloyd, First Nonprofit, and Menzis, rely on Mendix as a quicker, simpler alternative to traditional application development methods.
Within many insurance companies, IT departments are unable to keep pace with growing business demands for customer-facing applications in areas such as customer/broker portals, policy and claims management, contract submission and processing, and member services delivery and management. Because these applications typically require complex business logic and multiple integration points, traditional development methods can be a significant bottleneck to business innovation and growth.
Insurers find that the Mendix App Platform reduces time to market by up to five times over custom coding thanks to drag-and-drop visual modeling capabilities for mapping complex data and logic as well as “one-click deployment” to the Mendix cloud or client’s private cloud. Working with a rapidly expanding roster of insurance clients, Mendix has built and extended applications for Contract Management, Claims Management, Underwriter Workbench, Reinsurance Portals, Broker Portals, Mobile Applications, Customer Portals, ERP/CRM System Extensions, and Self-Service Portals.
Mendix’s strong growth in the insurance industry is being fueled by customer success stories, such as:
- LV=, which delivered a functional prototype of a broker portal in under a month. Based on this initial success, LV= built multiple apps for market testing life insurance income-protection products, customer self-service, sales, policy administration, and claims management.
- First Nonprofit, which created an application that reduced manual labor, improved the customer experience and extended the value of existing technology investments, saving an estimated $1.7 million in the first three years.
- Liberty Mutual, which created MyLibertyMobile.com, an industry-first mobile application that enables Group Benefit customers to quickly and easily report intermittent leave, in two months.
- Arch Re, where two business engineers delivered a reinsurance program portal well within time and budget; the application generated an ROI within the first year of implementation.
“With a traditional development agenda that’s already full, we are turning to Mendix in instances where we have pressing business objectives that we must respond to with speed and innovation,” said Richard Warner, chief information officer for LV= Insurance. “Having short development cycles, cloud deployment and business-led development are becoming increasingly common in our industry – and Mendix is helping us achieve the speed and agility to compete.”
“In order to succeed in today’s market, insurance companies must continuously innovate, develop new lines of business, and implement new channels to reach their customers—and do this faster than the competition,” said Gottfried Sehringer, Vice President of Marketing at Mendix. “With the rapid pace of the industry, Mendix is the only solution flexible enough to keep up with these demands and provide an easy way to deliver applications – in days, not months. That’s why Mendix continues to see strong customer adoption and growth in the insurance industry.”
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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.