No-Code Insurance Product Configurator
tigerlab's PaaS Insurance Solution “i2go” is about to launch a new No-Code product configurator for insurers to bring their products faster to the market without the need of IT-support.
London, 02/01/21: i2go, an insurance platform as a service helps insurance businesses to offer an end-to-end digital experience for customers as well as their system users. Now, i2go is about to launch a No-Code product configurator, which enables Insurance Businesses to develop new insurance products faster and without the need of any IT support.
The No-Code concept in i2go rating enables insurers to develop products in real-time after defining rules, risks, and formulas. The advanced rating engine shortens the cycle time to render insurability decisions based on the configured factor set. This automates insurance underwriting processes and saves costs.
Via the drag and drop interface, any user can create risks, sort these into categories, combine risks to a total coverage and create an insurance product with i2go. The product configurator makes it also possible to automate the creation of a question set for quotation. The system allows users to easily add headers and questions to configure a whole B2B2C sales journey.
“This Product Configurator will help Insurers to keep up with the speed and market demands," says Tobias Bergmann, Founder and CEO of tigerlab. “Not only have consumer needs shifted, so have their habits and expectations. Needs of customers will continue to change and it is up to the insurer to offer a solution that keeps up with its customers".
With the fast-changing market and customer needs, insurance businesses have to react fast. Age-old insurance problems such as risk-assessment, claims processing, policy distribution, and new product creation will be solved by agile innovative applications. With a No-Code product development application, insurance companies can now launch new insurance products at a much cost-effective and faster pace.
No-Code applications increased tremendously in the last few years. While these applications seem to be the norm in some segments, they are not that common in the insurance industry yet. Without No-Code applications, new insurance products have to be developed by professional developers who are skilled in programming and need time to do so. A No-Code platform is a perfect way to remove barriers and drive digital transformation.
The rise of No-Code applications results due to the advantages it brings for the insurer, like better working efficiency, product agility, shorter time to market, and the decrease in cost. These applications are here to stay and transform the way insurers work.
About i2go:
i2go, an Insurance PaaS solution, is powered by tigerlab and launched in 2018. The platform enables insurers to work fully digital and to connect their internal systems to the i2go platform through open APIs. With new features like the No-Code product configurator, engagement management modules, or policy management, tigerlab drives digital change in one of the oldest industries: the insurance industry.
For more information about the product configurator, please visit our Feature Video:
For more information about i2go and tigerlab, please visit our Website:
