Tesco Underwriting boosts efficiency 57% with low-code tech
The latter company, a software developer specialising in CX transformation and optimising the IT experience, has assisted Tesco Underwriting by increasing claims processing efficiency by 57%.
Designed to be quick and intuitive to learn, Liberty Create covers the entire app lifecycle, from initial conception to performance tracking, and provides three studios (Build, Code and Test) to easily compartmentalise software development.
Making the case for low-code
Reportedly training three members of Tesco’s Continuous Improvement Team in three days, with the app development process taking three weeks and full roll-out completed in three months, both companies are convinced of the programme’s efficacy.
“The speed and agility that the low-code platform has given us has meant we’ve been able to build, iterate and change processes really quickly and effectively,” said Neil Arrowsmith, Head of Operational Excellence at Tesco Underwriting.
“Without the project, I don’t think we’d have been able to achieve the NPS (Net Promoter Score) and the efficiency benefits that we have derived – the speed and agility has been fantastic.”
Mark Holmes, Chief Sales Officer at Netcall added, “We’re thrilled that Netcall has been able to assist Tesco Underwriting in its venture to optimise its business processes in such a short time frame – six times faster than using traditional development tools and methods.
“The fact that the company has already seen such an increase in efficiency is fantastic and we’re excited to see what further benefits to customer experience Tesco Underwriting uncovers with our platform in the future.”
With some going so far as to call low-code platforms a “silver bullet for insurance” because of its ability to facilitate faster digital transformation, a much needed capability in the historically change-averse industry, this tech trend could be of paramount importance in 2021 and beyond.
SLK Software: Optimising performance in the digital economy
Established in 2000 in Bengaluru, India, SLK Software recognises that fast-paced digital transformation is creating an unprecedentedly fertile period of opportunity for global businesses.
As such, with a firm belief in the power of simplification and automation to yield new and exciting experiences, the company has been challenging the status quo for over 20 years through an approach that is:
- Relationship oriented
- Strategically focused on a desired outcome
- Reliant on automation tech
Believing in purposeful automation
SLK’s specialisation in automation tech is full spectrum: artificial intelligence (AI) and machine learning (ML), Computer Vision, Natural Language Processing (NLP), Robotic Process Automation (RPA), and more, are all part of its core competencies.
Citing 90% productivity improvements, 30% business growth through better customer experiences, and up to 20x faster go-to-market capabilities, the reasons for its focus are clear.
The company currently serves the banking, financial services, insurance, retirement services, M&A, manufacturing, and supply chain sectors. Solutions offered include:
- Intelligent Business Transformation
- Agile IT Automation
Accelerating workflow processes
The latter is a tool specifically calibrated to enable business users an easy method for capturing document processes. This can occur across any application, with these individual tasks then seamlessly combined for both improved compliance and governance.
Carol Castelloni, VP of Transformation at CNA Insurance, highlighted this as providing critical support in helping the company meet its business objectives:
“SLK’s Avo Discover tool accelerates how we can document workflow processes, measure impacts on enhancements, and identifies future automation opportunities.” Liberated from having to focus on these process-driven aspects of business, CNA Insurance has been able to refocus its attention on creative problem-solving instead.
Ultimately, this is the most important benefit that SLK brings: it optimises the back end so that clients can channel their energy towards what matters the most, customers.
Read more about SLK Software and CNA Insurance in the June 2021 edition of FinTech Magazine.
Pictured: SLK Software team (source)