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Digital Transformation is trending in the world. As the pandemic struck, many businesses realized the importance of a digital-first environment to deliver hyper-personalized customer services. New-age technologies accelerate digital transformation, and one such technology that accelerates digital transformation is low code.
A market study reports that the global low-code development platform will grow to $45.5 billion by 2025.
While the customer’s demands force insurance companies to alter their business model and strategies to gain an edge in the market, the technology solutions are constantly evolving, making them adopt few advanced solutions into their system. Digital adoption requires taking initiatives and acting on them rapidly. The constant feature is that low-code development platforms only can achieve the above purpose. Low-code platforms for building mobile apps and web apps can rightly be called digital transformation platforms.
When an insurance enterprise adopts a low code development model, they enable non-technical developers and citizen developers to come up with designs and create solutions that would otherwise have not been possible. Developers also build specific solutions and update them on the fly adding to business agility.
Low-code platforms are easy to adopt by businesses and IT departments to create applications and solutions. In-built integration features with out-of-the-box capabilities help with Business Process Management (BPM).
Since low code comes with drag-and-drop features, the experience offered to the end-user and insurers is streamlined and organized across functions. It allows for better tracking that increases efficiency. Users can access the same across devices and platforms, anywhere and anytime.
With the available resources, the workload is distributed across the organization using the low code platforms with less strain on the IT department. Since these require little technical know-how, digital adoption is also easily facilitated with minimal training.
Innovation is the key to business growth and gaining an edge over the competition. Low code is the only solution to experiment and innovate in this competitive world. Enterprises can test the viability of the solutions across data sources, business processes, operational workflows, and end-users in a short period using low code. Bonus features include obtaining feedback on the app, the UI/UX, and process optimization.
Forrester reports that nearly 90% of business leaders agree that low-code development platforms improve customer experience more than traditional platforms.
While several elements make digital transformation a reality, creating an ecosystem of low-code development platforms, mobile apps, and cloud services are crucial. What matters the most is the readiness of insurers and other companies to use advanced technologies in their business processes.
Neutrinos is a low-code rapid application development platform that enables companies to build applications for various devices. Create multiple applications with web, mobile, and IoT capabilities, using the in-built drag-and-drop features. The Neutrinos Platform uses open-source software for app development making it a no lock-in platform.
Neutrinos’ Low-Code MXDP featured in the 2021 Gartner Magic Quadrant for Multi-Experience Development Platforms.
Start your digital transformation journey with low code solutions.