Synechron and Unqork Partner on digital solutions for insurance services
Synechron, a digital transformation consulting firm focused on the financial services industry, has partnered with Unqork, an enterprise no-code platform, to accelerate enterprise-wide digital solutions for use with clients across the global financial services domain.
Synechron said its partnership with Unqork will allow it to quickly scale up enterprise-wide applications for life, property and casualty insurance providers, reinsurance, and general insurance firms, as well as device care and protection warranty enterprises. This new partnership will also help accelerate recordkeeping solutions for retirement plan servicers and enable Synechron to deliver enterprise-wide platforms and functionality beyond insurance companies.
Unqork’s platform is designed for highly regulated industries like insurance and can be used to create custom solutions for some of the most common industry problems. Synechron said the result is a much shorter lifecycle, from design iteration to go-live, with reduced development and maintenance costs, and a near-immediate return on investment.
It added that next-generation digital tools that facilitate customer-driven demands will play a vital role in customer retention and enabling cross-selling and upselling opportunities for insurance companies.
Synechron already has several individuals skilled in the Unqork platform and plans to build an Unqork Center of Excellence (CoE) with the goal of increasing the talent pool of Unqork-trained experts.
Mihir Shah, managing director, head of Europe, Middle East and APAC at Synechron, said: “The rapid digitization in the insurance domain driven by customers’ growing needs for digital services and products is driving a new wave of agility, flexibility and a path to efficiency. In order to keep pace with this industry trend, we are seeing insurance firms accelerating their in-house development augmented with their willingness to adopt insurtech platforms. A platform like Unqork’s can help meet insurance companies’ real-world operating needs. We are glad to have Unqork as a new partner.”
Christian Barrera, vice president of alliances and ecosystem, Unqork added: “Unqork’s enterprise no-code platform helps build quality software three times faster than traditional coding. Slashing the development timeline for most insurance companies’ digital transformation initiatives and driving better digitally-led solutions for retirement services saves time, costs and headaches.
“We are thrilled to help Synechron help their insurance company clients modernise mission-critical processes that will benefit their businesses and their end-user customers as well.”
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