Over the last two years, the insurance industry has been undergoing a major shift. The need for digital tools has skyrocketed as customers have grown to expect touchless experiences, and this has forced many organizations to reimagine the systems, tools, and processes they rely on.
Paper is no longer viable. Consumers are turning to digital channels for insurance at a faster rate than ever before, with 41% of insurance customers now saying they are more likely to switch providers due to a lack of digital capabilities. Yet, while the pandemic forced companies to provide customers with paperless experiences, many of these changes were short-term.
To stay competitive, insurance organizations need to invest in long-term, scalable solutions. In other words, they need to undergo a digital transformation—and there is no better way to do so than with no-code tools.
What is No-Code?
No-code tools include software, systems, or products that allow users to build a solution without knowing any code. With no-code, non-technical workers in any department can create the processes, products, and tools they need to get work done—without requiring support from IT.
From creating online quotes and proposals and securely collecting personal information to building paperless customer processes and automating policy creation, no-code makes it extremely quick and easy to develop insurance workflow solutions to your most challenging problems.
Ways No-Code Can Improve Insurance
No-code is on the brink of changing the way people work—from automating repetitive, time-consuming tasks to building entirely new workflow processes, products, and applications in just days versus months. Investing in no-code tools can enable workers of all technical levels to achieve great results with less time, money, resources, and infrastructure. Here are a few ways no-code tools can benefit your agency or brokerage.
Reduce Reliance on IT
Many types of traditional software require a complicated setup, forcing companies to rely on IT, developers, or contractors to get processes up and running. With no-code, you don’t need outside help to build, test, or launch new tools, apps, and workflows. Employees of all technical skills can quickly learn how to use them on their own. Plus, you can easily make edits and adjustments and see them in real-time.
Accelerate Turnaround Time
Your customers demand quick and efficient customer service. Whether they’re applying for a quote, managing a policy, or putting in a request, customers have high expectations of their insurance providers. Delivering on these expectations requires having tools that provide a great front-end experience that employees can easily manage. Many organizations can get up and running with no-code tools in mere weeks. In fact, our no-code survey revealed that 50% of people choose to use no-code tools because they are easier to use and faster to develop than traditional software.
Simplify Work Across Departments
For many insurance companies, legacy systems, paper processes, and a lack of interdepartmental tools can create dangerous data silos that impact productivity and information management. No-code tools can help minimize and even eliminate many of these issues. Because employees of all skill levels can use no-code software, it can easily fit into any department’s tech stack. This enables you to use just one tool to streamline processes and workflows across teams.
Control Workflows from Start to Finish
When you need to rely on others to get your work done, it can create huge bottlenecks that are mostly out of your control. No-code software puts the power to build in your hands, allowing you to update a web page, digitize assets, create robust workflows, and collect data. Easily automate your most tedious tasks, such as creating online forms, securely generating quotes and other documents, and automating eSignature collection.
Is it time to invest in no-code at your organization?
If you’re ready to take control of your insurance workflows, no-code is an excellent solution. Dedicate some time to audit your processes and see where these tools could fit into your tech stack. You might be surprised by how much money, time, and effort it saves you!
For more information on no-code, check out Formstack’s interactive report The Rise of the No-Code Economy. You’ll learn everything you need to know about adopting no-code technology and making it work for your insurance org.