Low-code, no-code, codeless… and at last, Pure no-code: a tech primer for insurers

Pick a term, any term! It seems as though the insurance industry has clamped onto developing their own language when it comes to functionality. Is it just marketing, or something more? Find out here.

They’re just words.

If you spend any time looking at insurers or Insurtech websites these days, you’ll notice companies love to use terms to describe their technology and correspondingly, need to spend an enormous amount of time explaining what those terms mean.

We decided to visit some sites, round up all of these words, and explain what they all mean. Of course, we asked our colleagues and some industry experts to weigh in on these terms as well. They had a lot of opinions. And a whole lot more to say.

If you are looking for a technology solution provider, read our handy A blueprint for finding the right tech partner.

Low-code, no-code, and codeless

These terms are used to define functionality and business requirements regarding insurance applications. At thinktum, we refer to the application process as the user journey. And some journeys are definitely smoother than others.

All of these terms describe how much coding or technical expertise is required to deploy tools using that technology. We turned to some of our most experienced staff to see if they could shed light on this terminology.

Low code simply means the solution to be deployed contains actual code and requires technical staff or resources to deploy the solution as part of a technology suite. With low code, coding is involved as well as Full Stack Developers.

No-code and codeless are nearly synonymous. These terms intimate no resources are required, but if you look closer at the solutions, they do involve code on various levels and need some technical expertise to deploy them. No-code and codeless are actually misnomers… coding and developers are still required.

Here’s Rob Veldpaus, former VP of Technology & AI, on the differences:

Low Code is a system that allows you to configure certain behaviors using either a well-known language or a domain-specific language. No-code is also a system that allows users to configure certain behaviors. However, instead of using a well-known language or a domain-specific language, you’re using something that’s some other type of tool, it’s often graphical. I’d say codeless means they’re providing a general platform where you can build anything. I’d liken it to a graphic user interface or GUI. It’s basically a GUI Builder with some nice-to-haves added on.”

We’ve built an easy cheat sheet to help you get started.

Let’s focus in on that Pure no-code for a minute.

But what’s Pure no-code? More marketing jargon?

At thinktum, our modular tools are all Pure no-code. But is that just another term with a loose definition?

Let’s see what Veldpaus thinks.

What thinktum is trying to do is to bring their system as close as possible to the people who are going to use it. They don’t want you to have to understand development, whatsoever. You don’t need to get to ‘Oh, this is how you build a screen’ and ‘This is how you manage this data’ or anything like that. thinktum wants their users to just focus on the part that matters to them in a way that they’ll understand.”

With Pure no-code, no coding or developers are required. None.

thinkitum’s liz suite has been developed to bypass your entire IT department. We get it – IT resources are expensive and usually overbooked. Once the SaaS is deployed, the system chugs along without technical help or expertise. If you can build a PowerPoint slide you can easily work with our technology. That’s how little technical experience your business needs to get up and running with our solutions.

Curious about liz? Learn more about our software: thinktum’s liz suite.

What’s most important to know about the suite is that the software sits on top of your existing technology. It doesn’t interact with it or share data. It isn’t connected in any way – or ever would be. We asked someone who uses our system every day to help explain Pure no-code. Thomas Phillips was Director of Underwriting Innovation & Integration in the US.

He explains it like this:

What thinktum does is truly easy. One person could sit down, create a whole flow, test it, and then it can go off to implementation without the need for a tech person like an underwriter to make sure the underwriting is behaving as it should. So to me, that’s thinktum’s biggest advantage. You really don’t need code for testing, you don’t need any of that. You can test, you can build, you can create, and then you can move it right into implementation. So that’s where I think thinktum is different and that’s why I’m skeptical of the other terms. They say “no-code”, but there’s definitely going to be some coding intervention required”.

Ok, so tech resources aren’t required. And you can create and test a flow in a matter of minutes, which seems pretty convenient. But are there other advantages? thinktum’s Director of Underwriting & Technology Solutions, Genevieve Adam-Burns, added this:

In the past when I’ve worked with full-code systems, this is what it meant for us: anytime that we wanted to make a change, from a stupid spelling error all the way through to ‘Ohh, this question is letting in a lot of risk. We really need to change this question ASAP’. Or, it could be because we were getting live audit feedback from brokers from our DTC Call center saying, ‘People are really getting hung up on this one question. It’s a really sticky question. Can we make it better?’ So all of these kinds of scenarios didn’t matter. If you wanted to change something you needed to go back to the Project Managers, have a meeting on it, then they needed to take it to the Full Stack Development team who would then go into the coding and fix it. That could take two, three weeks, and sometimes longer. By the time it comes back to you, you’re thinking, ‘I don’t even want that question anymore’.”

Huh, well that’s… not great.

Annie Chu, thinktum’s AVP of Strategic Partnerships, shared the following in turn:

The flexibility of the Pure no-code platform means you can create your own flows, in any way you like. You can build it and then you can actually test it out and see how you created it. So, right away you have a testing capability that allows you to be very creative in your flows and then test it out to see where it’s going to go and what triggers you can put on it. So it actually jumpstarts your creativity. I love that about it.”

So, control when you need it and more creativity seem to mean underwriters and other business staff have instant gratification regarding edits and changes to flows. But what does that all mean for applicants? Does liz make the application process easier and more enjoyable?

Heck yes.

Hyper-personalization makes all the difference!

Up until now, we’ve only talked about what thinktum’s solutions mean for the business; we haven’t even considered end-users and applicants yet. What does all this mean to them?

Plenty, we found out.

First, applicants can use whichever device they prefer to apply for a policy. They can apply at 2 am if they like. Convenience like that is pretty attractive to busy folks. But it’s also the speed of the application process that really makes people happy. In a matter of minutes, along with a few clicks, most can be approved and set up for a Life Insurance product. It’s honestly as simple as that. There are no calls, no follow-up required, which can lower the price of a policy premium, allowing people to get more insurance coverage for their dollar.

liz isn’t just about how fast we can make the processes. Hyper-personalization means you are answering appropriate, gender- and age-related, dynamic questions. It’s not a one-size-fits-all type of solution. Every customer answers questions that correspond to their demographics and health situation, not anyone else’s.

Keep exploring how customizing user experience can help your organization with Hyper-personalization paves the road to success.

Yes, but what about data privacy?

If you’ve ever applied for life insurance, you know the kinds of questions asked of you. To say they’re personal is quite an understatement. How can a user’s very characteristic health information be kept secure? Let’s go back to Veldpaus for an answer.

I think security considerations are pretty important, really. Especially if you look at the bigger companies these days, they have full Cybersecurity departments. The staff is tasked with keeping both corporate data and user information secure. thinktum focuses a great deal on security because if you don’t have a secure environment, you really don’t have anything.”

Our system has been built to ensure vigorous security measures are deeply embedded in every dimension of our solutions. It’s not added on as a layer, or afterthought. No other single aspect is as vitally important as ensuring private information stays private.

Interested in learning more about how transparency can fuel your business? Read The value of transparency in a customer journey.

The bottom line

Many insurance organizations are either on the cusp of a technology overhaul or are dreadfully late to the party. If you’ve been hung up on all the different marketing terms bandied about, focus on what’s important to your firm and applicants: the user journey. You can have the most enticing insurance products, but if the application process is long, hard, bumpy, and frustrating, how many will complete it? What feeling will they be left with after all is said and done? Will they be dreading their next insurance need so much they postpone shopping for it until they are in desperate need?

The ones playing the long game will win. And by the same token, so will both their clients and experts.

If you’re curious as to what a Pure no-code ecosystem looks like, get in touch and let’s book a demo!

This article’s featured collaborators

Annie Chu, AVP of Strategic Partnerships

Annie Chu, AVP of Strategic Partnerships

Genevieve Adam-Burns, Director of Underwriting & Technology Solutions

Genevieve Adam-Burns, Director of Underwriting & Technology Solutions

Thomas Phillips, Underwriting Innovation & Integration

Thomas Phillips, Underwriting Innovation & Integration

Rob Veldpaus, Technology & AI

Rob Veldpaus, Technology & AI