All No-Code and Low-Code Solutions Are Not Cut from the Same Stone
As we have previously written, no-code and low-code solutions are making their way in insurance to help underwriters rapidly launch new insurance products, adapt to changing market conditions and provide flexibility in connecting to other IT systems.
Since the no-code and low-code approach has not become the industry standard yet, good solutions might be hard to track down for MGAs. Therefore, we’re happy to share some software providers we have come across that fit the bill.
Comparison of No-Code and Low-Code Software Providers
We prepared a brief comparison of insurance software providers for MGAs based on the most common functionalities:
- quote and bind;
- risk bordereau;
- premium accounting;
Providers Quote & Bind Risk Bordereau Premium Accounting Claims
360Globalnet - - - Yes
Artificial Yes Yes - -
Aventus Yes Yes Yes -
Evari Yes Yes - -
INSLY Yes Yes Yes Yes
Instanda Yes Yes - -
KASKO Yes Yes - Yes
Majesco Yes Yes Yes Yes
Protosure Yes Yes - -
Unqork Yes - - Yes
The table is based on competitor website research only. We do not wish to make arguments which are “true” no-code and which are low-code platforms. For this overview, all selected companies provide rapidly implementable and modular API–driven software.
*FNOL and claim reporting only Platforms with full-cycle claims workflow management are labeled “yes”, “–” stands for no information.
Not all providers offer the same functionality and may not fully cover your business needs. So, make sure you read our blog post on useful tips to consider when buying software for your MGA.
We want to keep updating this list as more exciting solutions come to the market. If you know any insurance software provider that should be added to the list, please let us know.
If your company is included, but we have not mentioned a certain functionality category, drop us a line.