Business value for insurers

Comotion creates rapid path to business value for insurers

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Since the dawn of the internet, businesses across the globe have been moving their operations into the digital space and adopting new technology to streamline their practices. One sector that is seeing unprecedented change in this regard is the financial services industry and its adjacent spaces. Innovation in this industry needs to be more than just window dressing and requires deep dive innovation. With customer and intermediary needs changing increasingly, companies need to adapt to remain relevant and stay ahead of the competition. 

Local software development company, Comotion helps financial services companies tailor their offerings to compete in this ever-changing market.  Comotion has partnered with low-code software platform, Mendix, to deliver an agile offering that will enable insurance companies to reinvent their business model.

Managing Director of Comotion, Tim Vieyra believes we have been buying life insurance in the same way for the last 100 years and creating change will require a fundamentally new way of thinking. He explains, “Companies seeking to reinvent the way we consume life insurance require agility and the ability to rapidly test their hypotheses. This is innovation 101 and it’s a tough problem to crack.”

Comotion’s approach is to innovate using Mendix with its own suite of components and products. With industry-specific expertise and an impressive implementation track record, Comotion creates a rapid path to business value. It uses quick development technologies like Mendix to help insurance companies reinvent their business models for the digital age quickly and efficiently. Mendix is the fastest and easiest low-code platform used by businesses worldwide to develop mobile and website apps at scale and with full system ownership. 

The business of insurance requires transactional systems, while analytics systems gather insights out of the data that is generated. Vieyra believes there is currently a huge disconnect between these two worlds – one that Comotion Dash provides the solution for. 

As a data insight and analytics platform, one of Comotion’s unique product offerings,Comotion Dash, unleashes the potential locked up in a company’s data. It combines both scalable data storage and visualisation in a package of open-source and cloud-based platforms, ensuring insights can be used for both operational and strategic decisions. 

One of South Africa’s leading funeral and life insurance companies recently integrated Comotion’s entire suite into their operations, including Mendix, Comotion Dash, and Comotion Components to create an entirely unique platform to meet their business needs at a fraction of the cost of traditional methods, including the ability to accept business online. Technological advances like these have enabled their business to operate more efficiently to streamline their client services and meet their business objectives. 

The partnership between Comotion’s suite of innovative products and Mendix’s agile platform will allow insurance companies and other businesses operating in the financial services industry to revolutionise and adapt their business models to the digital landscape of the future.

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