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Informative Article | Software Engineering | United States of America | Volume 13 Issue 6, June 2024 | Rating: 4.7 / 10
Low-Code / No-Code Approach to Build Applications for P&C Insurance Carriers
Abstract: In the dynamic and competitive landscape of Property and Casualty (P&C) insurance, companies are increasingly adopting Low-Code/No-Code (LCNC) platforms to enhance efficiency, streamline processes, and innovate rapidly. LCNC platforms revolutionize application development by enabling the creation of functional applications with minimal or no coding expertise, fostering agility, and significantly reducing time-to-market. This paper explores the substantial benefits that LCNC platforms bring to P&C insurance carriers, such as accelerated development cycles, cost efficiency, enhanced customer experiences, and streamlined operations. These platforms empower business users to participate in application development, reducing dependency on skilled IT resources and facilitating faster response to market changes. Additionally, the paper delves into the challenges and considerations associated with implementing LCNC platforms in the insurance sector. Key challenges include ensuring robust security measures, integrating with complex legacy systems, achieving necessary customization and scalability, and providing adequate training for users. Through detailed analysis and practical applications, including a case study of a successful LCNC implementation, this paper highlights how these platforms can drive digital transformation, operational excellence, and competitive advantage in the insurance industry. By examining real-world examples, the paper demonstrates the transformative potential of LCNC platforms in enabling P&C insurance carriers to innovate and adapt in a rapidly evolving market.
Keywords: InsurTech, P&C Insurance, Low-Code, No-Code
Edition: Volume 13 Issue 6, June 2024,
Pages: 743 - 747