Synechron and Unqork Partner to Accelerate Digital Initiatives for Insurance Services

Synechron and Unqork Partner to Accelerate Digital Initiatives for Insurance Services

Synechron Inc., a leading digital transformation consulting firm focused exclusively on the financial services industry, today announced its new partnership with Unqork, the leading enterprise no-code platform.

Synechron is partnering with Unqork to accelerate enterprise-wide digital solutions for use with clients across the global financial services domain. In the past, Synechron has delivered multiple, award-winning solutions for a variety of clients. Our partnership with Unqork will allow us to quickly scale up enterprise-wide applications for life, property & casualty insurance providers, reinsurance, and general insurance firms, as well as device care & 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 invented the first enterprise-grade pure no-code platform, to help companies build mission-critical software faster, with higher quality and lower costs than traditional approaches – all without a single line of code. 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. 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.

Insurance is a fast-moving business and insurers have a huge responsibility for providing better results to their customers as well as to their own bottom lines. At the same time, the rapidly evolving insurance industry, along with quickly changing and digital modernization initiatives for insurance technologies, is driving demand for fresh, digital strategies to power business operations while increasing efficiencies. This includes facilitating faster, easier, and more secure ways for onboarding customers, processing claims, installing new applications for expanded capabilities, and leveraging digital tools. 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.

Going forward, the partnership with Unqork allows Synechron to make its digital and technology solution offerings available to other financial services organizations, such as banks and other capital markets’ participants in the US and Europe. This includes financial enterprises who need visual templates, easy-to-use drag-and-drop tools, auto-created API structures and other components, without the need for code writing expertise.

In addition, 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.” He added, “We are glad to have Unqork as a new partner”.

Christian Barrera, Vice President of Alliances and Ecosystem, Unqork noted, “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.” He added, “We are thrilled to help Synechron help their insurance company clients modernize mission-critical processes       that will benefit their businesses and their end-user customers as well.”