Insurers, reinsurers and intermediaries are under pressure to adapt to new customer expectations. Insurtechs have made omnichannel digital experiences the norm. And COVID-19 has forced the issue further, on top of necessary operational and claims process changes. Digital transformation is no longer a buzzword or something that can fix just one area of an insurance organization.

How was that credit application declined? Why was that person denied parole? How were disability benefits cut for those constituents? And why do computers learning from humans automatically see certain occupational words as masculine and others as feminine? It’s hard to explain how the most advanced algorithms make decisions. But as predictive systems proliferate, there are signs we’ve become more wary of their use in making critical decisions.

In 2020, low-code application development went mainstream. Organizations everywhere prioritized the ability to rapidly adapt, making the Low-Code Application Platform (LCAP) an essential part of the enterprise technology stack. Low-code may be everywhere—but many IT and development teams are failing to reach its full potential. Ironically, they’re running low-code projects with traditional, high-code development practices.

The insurance industry is among those most impacted by the COVID-19 pandemic. Claims are likely to top €190 billion in 2021, according to reinsurer Lloyd’s of London. However, the pandemic did not fire the starting pistol in challenging insurers to transform, although it has amplified the issue. You can read more about the challenges specific to this sector in a recent interview with Gijsbert Cox, EMEA Insurance Industry Leader at Appian.