Utrecht, February 20, 2024 - IG&H, a leading independent consulting and technology firm, is introducing a new configuration of its in-house solution AllVida. It has been developed with the aim of accelerating digital transformation in the insurance industry. The innovative solution was developed within just four months of IG&H and Novulo launching their strategic partnership.
The solution was first made available to the life insurance and pension sectors as IG&H AllVida and is now also available to non-life insurers and intermediaries as IG&H AllVida Insurance Solution. The solution provides a complete and innovative IT architecture and functionality to automate and optimize the core processes of insurance companies. Leveraging Novulo's composable low-code technology, IG&H aims to significantly boost innovation in the insurance industry.
Speeding up time-to-market
Jan Pieter van der Helm, Managing Director Insurance at IG&H describes: “The industry is working with systems that are inflexible and outdated; it is not uncommon for backend systems to be 20 to 30 years old. To keep up with the demands of digitalization, making strategic decisions is crucial. In recent years, creating scale to make the necessary investments in digitalization has been a popular choice. This solution will help our clients stay relevant in a fast-changing market.”
AllVida Insurance Solution has a modular design that allows for the reuse of insurance-relevant components so that they do not have to be rebuilt over and over again. This is achieved by leveraging Novulo's composable low-code technology. This technology integrates reusable best-of-breed solutions with rapid development capabilities on a single platform, enabling rapid adaptation to market changes. In a compliant environment, out-of-the-box components can be configured and customized, drastically accelerating change and prototyping for the industry. Modularity not only accelerates development but also ensures continuous optimization of business processes in the software, significantly reducing migration risk.
The solution provides data modules for current systems in the market, which, combined with a mid-office connection, offer Microsoft capabilities in the front office after a gradual migration towards the new offering. Insurers and intermediaries can benefit from pre-configured content for customer journeys, APIs and workflow management, enabling quick deployment of the solution without long building periods.
Stephan de Jong, Director Financial Services at IG&H: “We see many parties struggling with their digitization ambition, growth ambition and cost agenda. The IT landscape is too complex, old and not ready for modern technologies, often as a result of acquisitions. We use a simple IT architecture in which the mid-office can be the orchestrator for intelligence and connectivity. The back office can act as a stable 'system of records'. The front office should cater to the various target groups, be flexible and work across all devices. We believe in utilizing solutions of e.g. Microsoft and Novulo rather than developing the solutions ourselves. This way we don't create a new vendor lock-in, minimize the risk associated with reliance on key individuals, and deliver a platform that serves the growth ambition while remaining cost-effective."
Frank Wille, Founder and Innovator at Novulo: “We are proud that the IG&H AllVida Insurance Solution for the insurance market is ready to roll out just four months after the announcement of our partnership. This marks an important milestone. Insurance companies and intermediaries can now access what Gartner refers to as a ‘composable enterprise’. I am confident that our technology, combined with IG&H's vision and strength, will transform the insurance market and drive Composable Insurance.”
About IG&H
IG&H is a leading consulting and technology firm specializing in retail, financial services and healthcare. IG&H combines sector knowledge with digital (end-to-end) transformation and technology competencies. With the deployment of low-code platforms, the company offers fast, flexible and cost-effective solutions, among other things. With more than 600 professionals in Europe, IG&H is recognized as a Great Place to Work. Read more at: www.igh.com
About Novulo
Novulo is one of the founders of composable low-code. This approach provides organizations with the foundation to modernize strategic applications and continuously innovate. Its strength lies in the combination of reusable best-of-breed solutions with rapid software development on a single platform. This combination allows applications to be changed quickly. This contributes to unprecedented development speed, continuous business and application optimization and full integration of data and business processes. The Novulo platform lays a solid foundation for gradually replacing core applications and strengthening the distinctiveness of organizations. The platform has proven itself in complex and mission-critical environments at more than 200 organizations with large user numbers and high performance requirements. With the Novulo platform, these organizations model their future and can improve operations daily. The customer portfolio includes AirFrance, Gemeente Enschede, Kamera Express and KLM. For more information visit: www.novulo.com.