Software development is thought of as a long, tedious, and costly process for insurers and MGAs. In conventional software development, programmers write long lines of code using computer coding language that is not easy to understand to create functions and features desired in a computer program. The process requires programmers to have in-depth knowledge of computer language as well as the business environment, deployment processes, and testing protocols.
According to Gartner, however, new low code/no code technologies are now available and able to speed up deployment of software. Gartner says low code/no code will be used by 70% of enterprises like insurers and MGAs to create software that brings new products to market quickly, providing customers with a digital experience, one that consumers are demanding. This is up from less than 25% in 2020.
Low code/no code creates one-step software application deployments and can include advanced tech capabilities such as front-end user experiences beyond web user interfaces, complex business process automation, AI-augmented development techniques, and application composition. The platform allows for experimenting, prototyping, testing, and deployment which offers insurers and MGAs an opportunity to embrace technology and create software that brings new products to market quickly, without the time-consuming process of typical software development.
These platforms require no technology specialists or specialized knowledge. With low code/no code, what used to take months or even years to develop can now be accomplished in weeks. Low code/no code projects use a model-driven or graphical programming approach. There is no need for a programmer. Colloquially, the process is described as a ‘point-and-click,’ ‘click development,’ or ‘drag and drop’ approach. The importance of the visual approach in low code/no code development cannot be overstated. ‘Drag and drop’ first appeared when Microsoft and Apple replaced obscure DOS commands with simple drag-and-drop interfaces. It was a truly revolutionary moment in technology.
Gartner says the terms “low code” and “no code” are confusing application developers and consumers about which development tools to choose. The difference between the two approaches boils down to outcomes.
No code — i.e., with no programming language whatsoever — causes enterprises more problems than low code. No code developers do not need to understand technology or the environment where the software will be deployed. As non-specialists, they may make unintentional mistakes a developer would not. From a technical perspective, having the entire code built by a ‘non-programmer, for example, could lead to vulnerabilities or inefficiencies that could cause difficulties later. Also, unsanctioned, or untested apps (which are known as ‘shadow IT’) might not meet the compliance and security needs of enterprises like insurers or MGAs.
Low code platforms are easier to master in the short term. Scalability of high-quality applications is more difficult because of the need to balance high performance and creation ease, which is why low code apps are often thought of as short-term solutions for business needs.
While the process of deploying low code may seem challenging, low code development is designed for companies that are tech-savvy enough to manage Excel spreadsheets and other simple programs. However, companies like Origami, who are skilled at low code development, are available to help insurers and MGAs master this flexible technology quickly, improving time to market for new products and services.