Maik Müller, Sales Manager of Insurance Solutions at SoftProject GmbH, discusses the opportunities and risks of digitalization, low-code platforms that pave the way for artificial intelligence, and why comprehensive digitalization is not only desirable for the German Federal Government.
Failed digitization projects, wasted money, and frustrated employees – for some companies, digital transformation seems to be more of a curse than a blessing. What is your perspective as a representative of the industry?
The reasons for this are manifold. Constant new digital innovations are increasing competitive pressure. Insurance companies must keep pace, become more agile, and accelerate and automate their processes. In the race to save time and money, they often neglect essential factors, such as flawlessly functioning interfaces between existing IT systems and the digitization components to be integrated. This is a fatal error that leads to media breaks and causes the entire project to fail, because a smooth data flow is the fundamental prerequisite for automated business processes. Equally important for a successful digitization project, in addition to know-how about the systems to be integrated, is knowledge of the operational requirements for the software – that is, not only technical aspects but also business expertise.
A smooth flow of data is the basic requirement for automated business processes.
Maik Müller, Sales Manager of Insurance Solutions, SoftProject GmbH
Decision-makers in companies are often unsure which areas of the business are suitable for automation and where to begin with digitalization. Do you have any advice?
It always starts with an inventory, after which we provide an assessment and propose concrete measures for how and where a company can accelerate its business processes, improve work quality, and save costs. In some cases, this might involve implementing fully automated claims reporting and processing; in others, it might mean automating cost estimates, pricing, calculations, and expert opinions, or providing web services and order forms. Every project is unique. A prerequisite for successful implementation is a broad and flexible range of digitalization solutions, adapters, and intelligent features that, for example, automate decisions or integrate people into digital processes. Our insurance clients appreciate both custom-developed solutions and pre-built digitalization modules for industry-specific workflows, which they can easily integrate into existing processes. Eighty percent of the functions to be automated are provided immediately from the cloud; only 20 percent need to be adapted to individual requirements. This saves development effort, reduces workload, and lowers costs.
Can you give us concrete examples of ready-made digitalization modules in the insurance industry?
Yes, for example, the provision of BiPRO- and GDV-compliant cloud services via the Insurance Gateway to connect insurers and distribution partners on a single platform. Or, in claims management, insurers can already exchange information with over 70 claims service providers via the Insurance Gateway. Another example is the Claim Portal, which automates the processing of service provider orders. In addition to accelerated processes, these solutions give employees access to all necessary information at any time, such as expert reports, inspection reports, images, order data, cost estimates, and invoices.
With a single click, they can access specific reports and thus maintain an overview. Another trend is “customer self-service,” which allows policyholders and claimants to be integrated into the claims process around the clock via app, web portal, or chat. This enables companies to improve their customer service and monitor, test, and manage the entire service lifecycle – all on a user-friendly low-code and no-code platform.
What exactly is a low-code platform?
1.065
Low-code and no-code mean that we reduce the complexity of workflows at insurance companies to such an extent that, for example, a skilled claims adjuster from a specialist department can model digital business processes without programming. This method also makes it easy to integrate technologies such as artificial intelligence or topics like big data into processes, collect and analyze data, and display it on a graphical interface, for example, in the form of charts, or to monitor business processes. While the employee works on a user-friendly, graphical interface, powerful, automated processes run seamlessly in the background. Intelligent web applications and forms can also be created entirely without programming. Companies thus save on the costs of external specialists and retain the expertise in-house. On our low-code digitalization platform, the X4 BPMS, we combine all these components and features that a company needs for comprehensive digitalization.
Time and again, not only engineers but also representatives from business and politics call for “comprehensive digitalization” – are these just buzzwords or what is behind them?
What the German Federal Government is demanding at both the federal and state levels is also desirable for businesses. A typical counterpoint to comprehensive digitalization is the proliferation of IT landscapes with isolated information silos that have grown haphazardly over the years. These slow down processes, are prone to errors, and represent a clear disadvantage compared to competitors, potentially determining success or failure. With 20 years in the market and experience in the insurance industry, we are intimately familiar with the challenges and critical issues. In line with evolving requirements, we have not only adapted and continuously developed our digitalization platform, but also established and expanded all the areas a company needs for comprehensive and successful digitalization. This includes a wide range of adapters for various interfaces, our own ISO-certified data center, cloud and hybrid cloud solutions, and our own academy as a center of excellence for the professional development of our employees and customers. We have compiled the “10 Success Factors for Successful Digitalization” in a concise brochure, which anyone interested can request from us free of charge.
