Ranked as a top-10 broker by Lloyd’s, and with 900 staff in locations across Asia, Australia, Europe, and North America, Corant Global is an established leader in insurance. They are a wholesale specialty insurance and reinsurance broker, offering key services for their specialty brands which include Ed Broking, Besso and Piiq. Making insurance products simple and easily accessible is key to the company’s success. Corant already had a digitisation plan to drive transformation across the business. This included simplifying the complexities of their business, improving internal processes and delivering a digital customer experience that would differentiate them in the global marketplace.
Speaking at Mendix World 2021, the world’s largest virtual low-code event, Peter Hughes, Group Head of Application Development at Corant Global, joined AuraQ’s Technical Director, Iain Lindsay, to discuss how low-code and working with an experienced delivery partner enabled rapid development and a huge digital product pipeline.
Picking up the Pace of Change
Opening his presentation, Hughes comments “There’s huge demand for technology to be introduced across the whole [insurance] industry,” With many industry-standard systems being nearly 20 years old, “It’s easy to see how operational efficiencies can be improved.” And Corant recognised this across both internal and external systems and processes, knowing that being the first provider to be able to offer clients fresh digital experiences would provide a “significant advantage.”
As with many organisations around the globe, COVID provided an additional challenge. Corant’s revenues had grown by 14% in 2019 and they had to immediately transition their operations from office-based to entirely remote while trying to maintain momentum. The execution of their existing digital strategy, while a high priority for Corant, had to significantly accelerate to meet that need.
To ensure their digital strategy would be effective, Corant identified essential criteria for their digitalisation program:
- System interconnectivity
- Process and operational efficiencies
- Fast time to market
- Digitisation of both existing and new products
- Strong client services
Low-code proved to be the solution to deliver on all of these needs. With Mendix identified as the enabling technology, to fulfil their acceleration plan, Corant needed to also be able to work with an experienced professional services delivery partner. “It was always our plan to upscale and cross-train our existing development team to become self-sufficient,” said Hughes. “But we needed to accelerate the development.” Mendix provided both a strong low-code platform and a strong delivery partner in AuraQ.