Thursday, the 27th of July ZONIQ joined the annual International Seminar of The Association of Indonesian Qualified Insurance and Reinsurance Brokers (APARI) and the Malaysian Insurance Institute (MII). ZONIQ was at this fruitful event to talk about the development of insurtech and digitalization of the insurance industry with focus on the Asian Pacific Region.
As proud sponsor of the event ZONIQ surprised the audience with an engaging presentation. Our founder Daniel Elegent had the fortune to warm up the attendees with the founding of ZONIQ and spoke about the process of digital transformation that insurance companies have to go through in order to stay relevant nowadays. Low-code application development can be a huge solution for the insurance industry. He gives an example of the process of calculating quotations for underwriters in the industry. This is a very specific and complex process that involves multiple excel sheets, insight in internal software and the approval of different departments. Daniel: “We at ZONIQ have developed an application that combines all these process steps together and automatically, after accurate approval, will calculate the quotation. This is all done by our certified Expert and Advanced Mendix low-code developers who have the ability to outline the necessities of the application as according to the wishes of our clients. We work closely together to make we meet our clients needs.” This type of application not only saves the underwriter time, it also structures the corporate processes and keeps track on the development of quotations (which are needed for audits).
With Mendix, the low-code application development platform used by ZONIQ, anything is possible. Whether it is an AI integration into systems or the development of an application of complex branch specific requirements. During the seminar ZONIQs CTO Pieter Verheul gave a demonstration of an application that has been developed for underwriting and quote generation for a global insurer. The audience, consisting mostly of underwriters and insurance brokers, where blown away by the capabilities of the application and how easy low-code made the development process. Pieter showed that by “just dragging and dropping” parameters could be added or removed from the application. According to him, this way of application development saves about 80% of the time of the traditional high-code application development. This means that in about 3 months companies can start working with their new applications, depending on the complexity.
Overall, the seminar in Jakarta was a great success and a step in the right direction for the insurance industry to work towards digital transformation with the help of low-code application development.
