Insurance products, although they can be simple in description, are very complicated products to create, manage, sell, and upkeep in your enterprise. In most insurance ecosystems, hundreds of thousands of lines of complex legacy code were written to create these products nearly 60 years ago and many of these systems are still functioning (albeit with less than desirable and/or optimized outcomes).
They are very difficult to maintain, almost impossible to change, and bring to market new products wherein the people who actually know the code are rapidly disappearing as they age out of the workforce.
Let’s be honest, the complexities of insurance ecosystems matter little to a customer facing a crisis or needing coverage, but their user experience does. This is one of the reasons why innovative insurance product companies are creating insurance systems in no code/low code tool sets that are agile, easier to maintain, and economical to implement, compared to the old legacy systems.
Salesforce is a major entrant into this new insurance ecosystem and their no code/low code environment is an exciting alternative to the outdated and complex legacy systems insurers are using today. Salesforce’s Digital Process Automation (DPA) offering is composed of several tool sets boasting benefits across the board to the insurer, and the insured. Let’s dive in!
What do the Salesforce DPA products do?
Salesforce DPA provides insurers with a solution that can automate insurance processes that vary from carrier to carrier, as well as across lines of business, ultimately optimizing processes and reducing the capacity for human error. Some examples include conducting a background check, quoting, reviewing documents, researching assets, or starting a claim.
Whether an insurance company needs specific workflows to analyze disparate data from many sources, create decision tables, generate ratings for quotes or document generation, the DPA tool set makes these functions possible with configurations in Salesforce instead of APEX code writing to provide an agile and efficient canvas to build these processes.
Meet some all-star, time-saving Omnistudio tools in the Salesforce DPA tool set
The shortcuts Omnistudio provides help users simplify development processes and leverage reusable components. Features include:
- Dynamic, multi-step business forms
- 50+ pre-configured script elements and controls
- Seamless data integration via, DataRaptor, Integration Procedures, REST, SOAP and Apex Services
- Drag-n-Drop visual designer
As a part of Omnistudio, Flex Cards enable users to construct rich, dynamic user interfaces using click-based configuration. Here are more offerings:
- Show summarized contextual information and actions at a glance
- Drag-n-Drop visual designer – No Code!
- 10+ UI elements
- OmniScript integration
- Datasource Wizard aggregates and displays data from multiple sources, like Salesforce and external systems
- Automatically generate and deploy lightning web components
DataRaptor and integration procedures
Manage complex data structures natively on Salesforce with declarative mapping and REST interfaces. Here’s more:
- Declarative object-to-object maps
- Declarative JSON/Object mapping
- Hierarchical REST interfaces
- JSON and XML-based transactions
- Declarative cache configurations
- Declarative data source management in Salesforce Industries Process Libraries
- Bulk transaction support
The advantage of using decision tables is that they eliminate the complexity around managing multiple else conditions to simplify rules. Here are some other features:
- Define decisions or actions to take based on a collection of rules that consider multiple inputs and outputs using Decision Studio
- Include tables in flows to create a multi-value input/out decision path for processes
No code/low code declarative data aggregation
This unique no code/low code environment makes it possible to configure insurance products, quoting and underwriting and claims quickly and easily. It also:
- Creates high performance rollups with aggregations, filters and joins
- Orchestrates the end-to-end flow from syncing the data to underlying calculation engine, processing the rules and writing the data back to the core
- Enables faster roll-ups for high volumes in a batch mode with roll-up by lookup built on the new calculation service
Digital Process Automation enables agility, flexibility and innovation, while expanding development resources and lowering cost to create and maintain. It also increases business agility by removing the need for an IT only development staff, increasing the implementation times by as much as 7 times and giving an up to 30% business productivity boost to the implementations and maintenance of the ecosystem.
To learn more about the ways DPA can elevate your business, let’s talk.