7 Benefits of Low-Code Software for Insurance Investigators

In SIU, where every clue, detail, and connection matters, efficient case management is the key to success. Many investigations teams, managers, and individual contributors alike face problems that hinder progress and jeopardize outcomes, such as:

• Workflows with information that is unnecessary

• Not being able to add information you need to the workflow

• The IT department takes months to make changes

• Your request is rejected by IT because they are overburdened

What is Low/No Code Development?

Low-code development refers to the use of visual interfaces and drag-and-drop functionality to build applications with minimal coding. Low-code insurance tools have many advantages, for instance, you can easily configure new insurance products or modify agents’ portals.

Here are the 7 benefits of low-code software for investigation teams:

1.     Rapid Deployment

Got a business problem. Can it be solved with software? Do you want your solution yesterday? Low-code systems with out-of-the-box standard features and workflows built to uphold to local compliance, legal and regulatory standards mean, in some cases,  you have a solution up and running in only 4 months. The no-code aspect of configuring to your business requirements ensures that any tweaks can be made in a matter of days. Utilising visual interfaces and pre-built components, developers can create and modify functionalities and features more quickly, reducing the time to market for the tool.

Check out the product tour video of FRISS Enterprise Investigations

2.     Flexibility and Customisation

Every insurer has a different way of doing the same thing. Low-code platforms provide highly flexible and customisable features that allow investigators, case managers, and SIU heads to tailor the tool to their specific requirements. You can easily modify workflows, data fields, forms, and other elements without any coding knowledge, making the tool more adaptable to evolving investigative processes. For example, you can add different fields for the roles of specific investigators involved in a case such as Desk Investigator, Field Investigator, and Major Case Investigator.

3.     Agility and Adaptability

Investigations and investigations teams require dynamic and iterative processes. Agility and adaptability are paramount to meeting the ever-increasing expectations placed on an investigative case management tool. Low-code tools facilitate rapid prototyping and iterative development, allowing investigators and case managers to quickly adapt and respond to internal changes, the latest external regulatory requirements, or new investigative approaches. Low-code software allows investigators, usually one superuser, to make changes and tweak processes on the fly.

4.     Collaboration and Ownership

Low-code platforms empower non-technical users to actively participate in the development process. Investigators and case managers can provide input, contribute to the tool's design, and even build their own simple applications or workflows. This promotes collaboration and ensures that the tool reflects the specific needs of the investigative teams. The tool in its mature state is investigation software built by investigators for investigators.

5.     Unburden Your IT department

With low-code platforms, you can make new fields or changes to the workflow yourself or with help from the platform provider. This unburdens your IT departments for development and maintenance, freeing up their resources to focus on other critical tasks. It also simplifies the software update and maintenance process, as low-code platforms handle these aspects automatically.

6.     Continual Improvement

Say hello to faster Iteration and continuous Improvement. Low-code tools facilitate agile development methodologies, allowing for frequent iterations and updates. Investigators and case managers can provide feedback, and suggest improvements, to refine the tool's functionality and user experience over time.

7.     Reduce Costs

Cut development costs. Low-code development is more cost-effective compared to traditional coding approaches. It requires fewer skilled developers and reduces the overall development effort. Additionally, low-code tools come with pre-built components and integrations, further reducing development time and associated costs.

Is Low-code Software the Right Option For You?

Before deciding if a low-code solution is the best option for you, outline what are the specific issues you are trying to solve or processes you’re trying to improve. If it falls into any of the following, then low-code is the right answer for you:

• Increase case throughput

• Reduce false positives

• Reduce administration costs

• Automate manual and repetitive tasks

Many low-code platforms are now available, from robust enterprise solutions like Appian, that focus on business processes to very specific plug-ins. However, you should focus your attention on insurance-specific low-code tools, like FRISS Enterprise Investigations. Industry-specific low-code solutions are better tailored to your specific needs, have in-house knowledge experts, and are aware of potential integration problems.

Check out the product tour video of FRISS Enterprise Investigations