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Digital Transformation through Low Code Application Development

Best Low Code Development Software

Quite a few digital transformation leaders are finding themselves in a tricky situation now. On one side, we have the constantly evolving customer’s demands and expectations, while on the other, the limited capability of technology. 

A market study reports that the global low-code development platform will grow to $45.5 billion by 2025. 

While the customer’s demands are forcing insurance companies to alter their business model and strategies to ensure they 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. Therefore, the constant feature is that low code development platforms can only achieve the above purpose. 

We have shared a blog post on how low code is accelerating digital transformation. In this post, we will touch upon the new developments and innovations. 

Benefits of Low-Code Aiding Digital Transformation
  1. More Targeted Outcomes: 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. They can also develop specific solutions and update them on the fly adding to business agility.  
  2. Rapid and Cost-Effective Delivery: Low-code platforms can be adopted by businesses and IT departments with ease to create applications and solutions. The built-in integration feature with out-of-the-box capabilities helps with Business Process Management (BPM).
  3. Enhanced Experience across Devices and Platforms: 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.  The users can access the same across devices and platforms, anywhere and anytime. 
  4. Optimization of Resources:  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 to no technical know-how, digital adoption is also easily facilitated with minimal training.
  5. Freedom to Innovate: Innovation is the key to business growth and to gain an edge over the competition. Low code is the only solution to experiment and innovate in this competitive world. Testing the viability of the solutions across data sources, business processes, operational workflows, and end-users is now possible in a short period. Obtaining feedback on the app, the UI/UX, and optimization of the process are bonuses. For insurance companies that are treading towards digital transformation, innovation becomes a critical factor towards overall organizational growth.

Forrester reports that nearly 90% of business leaders agree that low-code development platforms improve customer experience significantly more than traditional platforms. And in today’s world, this is the most crucial.  

Gartner reports that the market demand for low code app development will increase by five times in 2021.

While several elements make digital transformation a reality, creating an ecosystem of low-code development platforms, mobile apps, and cloud services is 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 application development platform that allows you to build applications for various devices quickly. You can create multiple applications with web, mobile, and IoT capabilities, by using the in-built drag-and-drop features. To learn more about Neutrinos’ low-code platform, connect with us now

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