BrazilSynechron adds Unqork's no-code platform to insurance services
Synechron has become a trusted advisory and implementation partner of Unqork, a provider of no-code software to companies globally.
As part of the strategic affiliation, Synechron will integrate Unqork platform into its services for clients in the insurance industry. Synechron works across all segments of the industry, including life, property & casualty and reinsurance providers, supporting them with strategic digital-driven transformations and technology upgrades.
Using Unqork’s platform, the consulting and technology services firm will now be able to accelerate and simplify their digital transformation efforts, at a time when digital has become central to strategies, innovation and agility – with a McKinsey & Company study finding that over the past year alone, the pace of digital transformation has leapfrogged seven years(obviously driven by the Covid-19 crisis).
Low-code and one step further no-code platforms like Unqork bring a key facet to the table: speed. Christian Barrera, a Vice President at Unqork explained, “Our enterprise no-code platform helps build quality software three times faster than traditional coding, slashing the development timeline and driving better digitally-led solutions.”
Valued at $2 billion following a $207 million C round in October last year, Unqork enables its users to build solutions using a simple, drag-and-drop interface. Its simplicity means that there is little need for custom code, and this in turn empowers professionals without an IT background to contribute to digitisation.
This democritisation of technology work is proving its worth – organisations of all sizes are embracing low-code. According to Gartner, the market for low-code development technologies will grow by 22% this year to a total value of $14 billion, on the back of already bumper growth in recent years.
“Unqork’s platform is designed for highly regulated industries like insurance and can be used to create custom solutions for some of the most common industry problems. The result is a much shorter lifecycle, from design iteration to go-live, with reduced development and maintenance costs, and a near-immediate return on investment,” explained Mihir Shah, Head of Europe, Middle East and APAC at Synechron.
“A platform like Unqork’s can help meet insurance companies’ real-world operating needs, and drive agility, flexibility and a path to efficiency,” he added. Concrete use cases Synechron will work on in the insurance sector include improving customer onboarding, optimising processing claims, expanding applications, and streamlining regulatory compliance.
As part of the agreement, Synechron has announced it will build a dedicated Center of Excellence for Unqork capabilities.
