A leading insurance company decided to leverage our partner Unqork and their no-code platform to build a digital experience for a new specialty insurance product. We helped them achieve their goals by building the experience using Unqork to accelerate the time to market by more than 60%.
The Problem
As with many insurance organizations today, the customer was looking to expand into new lines of business but was struggling to do so quickly and efficiently with their given systems. Additionally, they were looking for a digital-first experience for both their agents and customers. They were looking to move away from all inefficiencies in the process of enabling customers to buy policies.
The Approach
Unqork was chosen as the platform to build on. Its superior no-code development capabilities combined with its deep experience in insurance made it the right platform for this use case. Our team helped end to end, from solution architecture, build and through testing. We built quick POCs to help with ideation during the design phase. Once we agreed on the scope, our team built a complete application to support the new product. This included portals for both the direct customer as well as agents. With these portals, we leveraged Unqork’s capabilities to build automated workflows to increase efficiency. The portals also enabled the retrieval of saved and previously purchased quotes. Using Unqork’s RBAC (roles-based access controls), we were able to implement a very granular access management feature to balance security and efficiency.
Given the insurance company already had many lines of business, we needed to integrate into core systems for rating, quoting, binding and document generation. Our engineers built the two-way integrations with the Unqork application to ensure the application operated within the existing systems and enterprise architecture. To create a seamless experience, we also integrated a third-party payments processor that support credit cards, bank transfers and PayPal.
The Results
In the first three months of operation, the program experienced a 4x revenue estimate improvement since being live with the new application built on Unqork. It is the only program within the company to experience this sort of growth, and it attributed to the streamlined workflow and seamless payment experience. This success has led to additional programs being interested in adopting Unqork and additional funding being allocated for transformation initiatives.