Listen to KPMG discuss the adoption of no-code within financial services and efforts made by the industry to deliver operational excellence & superior client experience and accelerate product launch.

The KPMG team provides an informative session at Unqork Create 2021 about efforts made to adopt and scale low- and no-code technologies within financial services. Accelerated by the pandemic, the industry is scaling usage of these platforms to deliver operational excellence, provide superior client experience, and accelerate product launches. 

Harvinder Bhatia (Partner), Raj Konduru (Managing Director – Architecture and Low Code Practice Leader), and Paul Deitch (Principal, Management Consulting) of KPMG discuss how their partnership with Unqork’s no-code platform is helping to make this a reality for KPMG’s clients.

Below is a sneak peek at the insights, but you can only get the full scoop of the panelists’ combined decades of industry experience by watching the full session above. 

Harvinder started working with Unqork three and a half years ago. “In the past three and a half years … we have delivered over 40 digital assets on the Unqork platform. And we have done all flavors of use cases, starting from client onboarding and servicing for our retail clients to agent onboarding and plan sponsor onboarding in the retirement space.” 

“Take a use case, build it in two to three days, and then see the reality.”

Thus, when deciding if a no-code platform like Unqork makes sense to implement across your organization, both Harvinder and Raj agree to start with one or two use cases before scaling. To truly reap the benefits of no-code, take a use case that the organization can experiment on and take the initial time to build the operating model around that one thing. Or, as Raj simply defines the process, “Take a use case, build it in two to three days, and then see the reality.”

When asked what he was seeing in the alternative investment industry, Paul explains that the drivers towards no-code adoption were (1) awareness that profitability and margins vary greatly across products, (2) high compensation environment where time wasted equates to money wasted, and (3) lack of a great packaged solution, causing systems to be stitched together.

“We’ve been able to extract 50% of the hours out of the process for this client.”

At a large alternatives firm with about 50 billion AUM, alternative investment managers had to re-underwrite every single investment to ensure that they had the value correct to strike a NAV with their fund—on a quarterly basis. “We’re working with this client to digitize the workflow, extract the administrative tasks and move them to a lower-cost resource, automate the approvals, automate the ingestion and reporting of data, and do all of the documents storage. A no-code platform like Unqork is perfectly designed to do this,” says Paul. “But the magic of what we’ve been able to do is take a very unusual or bespoke set of inconsistent workflows and create an assembly line, so we could bring the work to the right resource at the right cost at the right time. We’ve been able to extract 50% of the hours out of the process for this client.”

To learn other examples about how KPMG leverages the power of no-code to enable their clients to be successful, watch the full session above.

Learn how Groundspeed & Unqork have partnered to deliver an integrated solution to transform commercial lines submission emails and documents into structured and enhanced data.

Jeff Mason, CEO and Founder of Groundspeed Analytics, sat for a virtual session with Unqork’s Andrew Khalatov (Client Manager – Financial Services) to discuss how Groundspeed and Unqork partner to enable the P&C insurance sector to dramatically improve their underwriting processes.

Groundspeed helps insurance carriers and brokers unlock the value in their unstructured data. How do they do it? Jeff breaks it down. 

“We work at Groundspeed across three main product towers. One is around automation. So automating this document ingestion and data workflow. Another around intelligence, which means really expanding the power and the enrichments of this data. And the third is around improving the information exchange across the ecosystem.” To that third point, Jeff adds the reason why Groundspeed chose to integrate with Unqork’s no-code application building platform. “Unqork is a leader in placement and rate, quote, bind platform improvements, and we’re really excited at working with Unqork.” 

“Unqork is a leader in placement and rate, quote, bind platform improvements.”

99% of middle-market and large commercial premium is placed via email workflows. This extremely sensitive information is largely communicated through PDF and Excel files attached to emails, requiring intense manual effort from insurance carriers and brokers to consume and understand the information. With this process, the risk for human error is high. 

[Groundspeed] can deliver its customers highly accurate data (99.5%) that does not need to be double-checked or validated.

Instead, Groundspeed automates the ingestion of information from applications, loss runs, exposure schedules, and the email body itself. They can deliver its customers highly accurate data (99.5%) that does not need to be double-checked or validated. The end result? “Structured and enriched data to drive better quoting, faster quoting, and better financial performance and higher underwriting income,” says Jeff.

Groundspeed structures and enriches the submission information, and then it gets delivered back into the Unqork ecosystem. To watch the demo of how much more efficiently and accurately a commercial lines submission can be done, check out the full session above.

During the keynote presentation at Create 2021, Unqork CEO and founder Gary Hoberman explored the challenges of legacy code, and how no-code overcomes it

“I understand the technology challenges facing today’s enterprises. I’ve been there. I’ve lived in your shoes for over 25 years. Climbing that corporate ladder that we talk about today through the technology lens,” Unqork CEO Gary Hoberman explained ruing his keynote presentation at the first annual Unqork Create conference.

During his presentation, Gary explored the dilemma faced by many enterprise technology leaders: they are under increasing pressure to “go digital,” but development has become more challenging than ever, creating an imbalance between the demands of the business and supply that tech teams can deliver. This imbalance, Gary explained, is due to development technologies not keeping up with the times.

“Software is more important than ever. It’s no longer an accessory. It’s a necessity. You can’t have a business today without being digital,” Gary continued. “But the reality is that nothing’s changed the way we communicate with machines for the last 30 years. We still communicate with many archaic languages that take a long time to master. It became clear to me why 80% of the resources go to keeping the lights on, why 93% of tech projects fail, why there are seemingly never enough software engineers, and why projects are delayed. I got tired of communicating those reds yellows on project delays and over budget. When the cause was code itself. That’s why Unqork was founded. To shift the paradigm and give enterprises a better way to build mission-critical software.”

“Nothing’s changed the way we communicate with machines for the last 30 years. We still communicate with many archaic languages that take a long time to master. It became clear to me why 80% of the resources go to keeping the lights on, why 93% of tech projects fail, why there are seemingly never enough software engineers, and why projects are delayed… That’s why Unqork was founded. To shift the paradigm and give enterprises a better way to build mission-critical software.”—Gary Hoberman, Unqork Founder and CEO

Gary went to call out the problem by name: legacy code. This is all the accumulated code powering a digital infrastructure that may be years—or even decades—old. All this code must be upgraded and managed in perpetuity which demands valuable resources away from building new software and makes it more difficult to address disruptions rapidly. This is where Unqork’s no-code application platform is revolutionary. Unqork separates application logic and behavior from the code underneath, so organizations can focus entirely on addressing business problems instead of technical ones.

“This is the paradigm shift Unqork offers: build mission-critical enterprise-grade software without creating a single line of code,” Gary explained. “Build enterprise software three times faster, three times cheaper, and the most important thing that no one ever talks about with 600 times fewer bugs because you’re starting from where the last person left off instead of starting from a platform 20 years old. 

“Maintenance budgets become funding for new projects. Bug patching becomes skunkworks to find the next great idea. Developer resources are used on innovation, not keeping the lights on. This is not some fantasy future state. This isn’t a science fiction movie. There are fearless technology leaders that the right bill and their most successful companies in the world who are breaking out of the status quo to experience this new paradigm.”

Unqork is being used by some of the biggest names in the world right now. Gary then gave the virtual stage to several Unqork clients who shared the value the platform delivered to them.

“Unqork’s enterprise no-code platform has been a great technology partner for us on our digitization journey,” explained Marsh COO Louis Piliego. “Unqork provides our business with the ability to rapidly develop and iterate on new technology in-house. Giving the business a seat at the table throughout the development process, which I believe is so important… We are just getting started transforming the insurance industry at Marsh, and we’re excited to have Unqork alongside us for the journey.”

“Not only has Unqork allowed us to improve productivity, but also time-to-market.”—Shekar Pannala, Chubb’s Global CIO and Co-Leader, Technology, Shekar Pannala

“Chubb’s partnership with Unqork allows us to rapidly develop and integrate new technology in-house and deliver it globally,” said Chubb’s Global CIO and Co-Leader, Technology, Shekar Pannala. “Not only has Unqork allowed us to improve productivity, but also time-to-market.”

Maimonides Medical Center is the largest health system in Brooklyn, NY. The organization is currently working with Unqork to develop a digital front door, a patient registration system, and a solution for electronic patient forms. “The products we are developing with Unqork are supporting Maimonides’ drive towards a more modern, intuitive, and engaging patient experience while also improving efficiency in our internal operations,” explained Maimonides CEO Ken Gibbs. 

“We saw the brilliance early on. One of the things that we valued in that first minutes was that there was really an understanding of where true business problems are”—Amy Friedrich, President – US Insurance Solutions at Principal Financial Group.

“We were one of the first paying customers for Unqork,” added Amy Friedrich, President – US Insurance Solutions at Principal Financial Group. “We saw the brilliance early on. One of the things that we valued in that first minutes was that there was really an understanding of where true business problems are….The old things that we had invested in that worked for us 20 or 30 years ago weren’t working at scale for us anymore. One of the things we have committed ourselves to is kind of getting through that journey by solving problems within the process, not necessarily just at the front-end or the back-end. And so when I look at the progress we’ve made partnering with firms like you, it’s made all the difference.”

Next, Gary was joined virtually by Unqork CTO Bassam Chaptini, who gave an overview of the Unqork platform. “You just heard from Gary about the legacy-free enterprise. This new class of business will have a crucial advantage over those who approach development the same way they did 20 years ago,” Bassam explained. “That’s a big statement, sure. One you’ve probably heard countless versions of before. But you’ve also just heard from our customers: no-code is not marketing hype, it’s a new development paradigm that unlocks innovation and empowers organizations to build future-proof software.” 

Bassam “handed the mic” to Phil Gurbacki, Unqork’s SVP of Product, who explored some of the amazing new functionality that will be released in Unqork 2021.10 including the new Dynamic Grid Component, Parallel Execution, Unqork Private Cloud for AWS and Azure, the Discovery Hub, Testing Tool, Advanced Search, and a new redesign for the whole platform. This is “the biggest platform update of the year,” Phil explained. “And it includes a little bit of something for everyone in your organization. To learn more about the suite of new functionality, check out Phil’s release notes here. 

Want to learn more? Watch the above keynote presentation or join us for the rest of Unqork Create 2021. 

Capco and Fannie Mae discuss how they increase security, lower development time & re-engineer manual processes through utilizing Unqork to develop end-user computing applications (EUCs).

As the amount of end-user computing applications (EUCs) in organizations continues to grow outside of their IT team’s purview, regulatory scrutiny and operational risk will also continue to balloon. Capco, bringing its deep financial services knowledge surrounding end-to-end implementations and proof of concepts, works with their client Fannie Mae on remediating such EUCs with the help of Unqork’s no-code platform.

EUCs are not subject to the same development monitoring, reporting, and controls that traditional applications would have. Brett Krasner, Principal Digital Engineering Consultant at Capco, speaks with Satya Addagarla (Vice President, Lender & Servicer Technology and Enterprise Cloud Migration) and Elton Fernandes (Senior Manager, Lender & Servicer Technology and EUC Cloud Migration) of Fannie Mae on how no-code mitigates this problem.

“The no-code platform from Unqork allows firms to quickly replace the EUC solutions due to its drag-and-drop interface and the ability to develop fast,” Brett explains. “And this also allows business users, as they built out their EUCs before, to still be trained on the Unqork platform and build their own EUCs under proper testing and design guidance.” Other benefits are shorter development times due to the reusability of configuration, and the inherent governance and security the platform provides.

“Ease of citizen development … Strong integration capabilities … Meeting our control requirements … and change management aspects throughout the whole SDLC. And we found that Unqork met these needs.” 

Fannie Mae conducted a proof of concept to confirm that Unqork could meet the company’s requirements. According to Elton, the key pillars that drove decision-making were met. “Ease of citizen development … Strong integration capabilities … Meeting our control requirements, including app inventory, registration, platform availability and resiliency, data security—down to the field level—and change management aspects throughout the whole SDLC. And we found that Unqork met these needs.” 

Watch the full conversation from the Unqork Create conference to learn when an EUC is viable, a specific use case of an EUC built in Unqork, and what is on Fannie Mae’s future roadmap for EUC migrations. 

Deloitte consultants discuss how life & annuity carriers want a platform to improve the new business experience & application process. With Unqork, they provide clients an eApp that does just that.

Deloitte is a valued system integrator (SI) with Unqork. A panel of Deloitte consultants—Kanisha Agarwal, Senior Manager; Alexandra Florescu, Consultant; Justin Freres, Manager; Mradul Kapoor, Manager; Dmitry Satanovsky, Senior Manager; Zach Stevens, Senior Consultant—got together for an interactive Unqork Create 2021 session about the digital transformation and innovation they have been able to provide their life & annuity clients using Unqork.

Zach, who spent most of his career specializing in the L&A space helping clients on both strategy and digital transformation, provides some thoughts before Q&A kicks off. “It can be really difficult for L&A carriers to adapt and grow because they’re often saddled with a lot of legacy COBOL-based systems. That’s why when I started looking in Unqork, I was really excited by what I saw. It’s able to make such a strong impact across the value chain, whether that be standardizing and making your eApps more modern, serving as an underwriting workbench where you can help to streamline that process, or even help with self-servicing.”

“[Unqork is] able to make such a strong impact across the value chain, whether that be standardizing and making your eApps more modern, serving as an underwriting workbench where you can help to streamline that process, or even help with self-servicing.”

Below are some of the panel highlights. Watch the full session to get all the key insights.

What common use cases are seen in the insurance space today? Any implementations that really stand out to you?  

“I think Unqork’s flexible architecture and robust set of components and features enables us to solve a host of different use cases across the insurance value chain,” Justin explains. “My colleagues and I have built use cases from customer onboarding through the L&A eApplication and submission process.” The primary use cases Justin has seen are digitizing the application process or streamlining the eApplication process that exists today.

Why is Unqork the right tool, especially over other tier-one packages in the insurance space? 

Dmitry takes on this question. “Unqork versus conventional development comes down to four things: simplicity, time-to-market, access to talent, and costs.”

“Unqork versus conventional development comes down to four things: simplicity, time-to-market, access to talent, and costs.”

He dives into the specifics of all four points, but his explanation around simplicity and time-to-market sums it up nicely. “With conventional development, there’s a lot that needs to be done before you even get started. You need to select a programming language, choose frameworks … stand up a development environment, your hosting environment, which will be more than one—production, QA, UAT, and so forth. You need to stand up your dev ops pipeline so that you can build your applications, and load them in your environments. With Unqork, you have none of that. You can start building and delivering business value right away.” 

Deloitte has put together a plethora of accelerators for their clients. Why are these so important?

Mradul talks about how these accelerators are the reason Deloitte can achieve so many successful implementations for their clients. One such accelerator provides advanced analytics for predicting risk. It helps the business to predict which individual customers are most likely to benefit from and qualify for a product or service, ultimately helping to uncover qualified leads.

This only scratches the surface of the value Deloitte is providing their L&A clients with the power of no-code. If you’re a life and annuity carrier interested in undertaking a digital transformation or innovation initiative, watch the full discussion to learn more.

How are you enabling your teams in this work from anywhere, hybrid work environment? Scott Owen of SignNow talks about how eSignature went from a “nice to have” to a “need to have” solution.

eSignature is here to stay, and it can help boost productivity in our newly hybrid work environment. In fact, according to Scott Owen, VP of Business Development & Channels at SignNow, eSignature is the number two work from home solution being used today (eclipsed only by telemedicine). 

Unqork and SignNow have enjoyed a great partnership and are proud to be delivering immense value together. In this session, Scott discusses how SignNow’s eSignature capabilities combined with Unqork’s no-code application building platform enabled local governments to efficiently distribute their Emergency Rental Assistance Program (ERAP) funds completely online. 

Unqork Rent Relief empowers public agencies to effectively manage and distribute these funds at scale in compliance with all ERAP requirements. It also enables agencies to orchestrate and automate end-to-end workloads, from prescreening to award determination and close-outs. With the ability to integrate with local databases and configure digital experiences for all relevant stakeholders, the platform includes the ability to digitally sign and send documents with SignNow. “Since it’s built with Unqork’s enterprise no-code platform, the application can be rapidly tailored to meet local requirements and circumstances, all without writing a single line of code,” Scott elaborates. 

“So, we speed up business processes, get signatures faster, reduce document errors, delight customers, increase productivity, improve visibility and accountability, and stay compliant while protecting your data. We do this at scale across the Unqork platform.”

Scott discusses an amazing success story with Southern Nevada Health District, a government organization providing regulatory supervision and health services to over 2.2 million residents. When faced with the challenge of having to collect signatures from those diagnosed with COVID-19 during state mandates to self-quarantine, they turned to SignNow. “It took less than 60 minutes to set up in their system and to begin to deploy with SignNow. It can confirm that each person not only received the document, but also signed the document. All this was done with HIPAA compliance and met all the compliance and security guidelines of this entity. So, we speed up business processes, get signatures faster, reduce document errors, delight customers, increase productivity, improve visibility and accountability, and stay compliant while protecting your data. We do this at scale across the Unqork platform.”

No-code has empowered SignNow to help enterprises eliminate 70% of document errors, collect signatures up to 5x faster, and save $24 per document. 

The hybrid workforce is here to stay, and eSignature capabilities can only help your distributed workforce be more productive. Watch the video above to catch the full session from Unqork Create 2021.

In this fireside chat, Chubb CIOs Shekar Pannala & Max Gelfer chat with Unqork’s Farooq Sheikh about their plans to leverage no-code to rapidly modernize Chubb’s global insurance tech stack.

During the inaugural Create conference, Farooq Sheikh, Unqork’s Insurance Go-to-Market Lead, sat down for a virtual session with Chubb’s Shekar Pannala (Global CIO, Co-Leader Technology) and Max Gelfer (North America CIO). During the session entitled “Transforming a Global Insurer With No-Code,” the trio discussed the challenges of developing applications in the insurance sector and the companies ongoing relationship.

While a cutting-edge no-code platform such as Unqork opens up many intriguing opportunities for a complex and highly regulated sector like insurance, much of the conversation centered on how Unqork amplifies developers’ abilities rather than replaces them.

“In this day and age, the concept of polyglot programming doesn’t matter—it doesn’t matter which language you’re programming in, because it is all interconnected with microservices and containers,” explained Shekar. “With no-code, you can connect the pieces together. To me, no-code is about rapidly building scalable solutions. It allows you to focus on real business problems because you can use existing functionality. It’s more of an acceleration of—and not a substitute for—coding skillsets.”

“To me, no-code is about rapidly building scalable solutions. It allows you to focus on real business problems because you can use existing functionality. It’s more of an acceleration of—and not a substitute for—coding skillsets.”

“Eliminating the multiple connections, multiple translations between the business and developer is one of the advantages I see in no-code,” Max added. “The ability to represent complex problems visually and let the platform translate it into executable code is one of the big advantages of Unqork.”

Since Unqork streamlines development, there is a lot more collaboration between technology and business teams, making it easier to address business requirements. This is key for inherently complex sectors such as insurance.

“The need to develop does not go away,” Max explained. “For a developer who understands insurance and understands the technology, Unqork allows them to represent the solutions elegantly.“

To learn more about how Unqork and Chubb are transforming insurance, watch the entire session above.