AI, Low-Code Platforms, and Customer-Managed Core Systems

How AI, Low-Code, and Customer-Managed Core Systems Are Transforming P&C Insurance

The P&C insurance industry is evolving. Technology is changing how carriers manage policies, assess risk, and handle claims. AI, low-code platforms, and customer-managed core systems are driving this shift. These innovations improve efficiency and cut costs. They also give insurers more control and flexibility than ever before.

Let’s explore how AI, Low-Code & Core Systems in P&C Insurance are reshaping the industry, from claims to underwriting and beyond.

Customer-Managed Core Systems: Gaining Control

Legacy systems often create tech debt and vendor lock-in. That’s changing. With customer-managed core systems, insurers regain control. They choose how and when to upgrade. They also gain full access to their data—supporting data sovereignty in insurance.

This freedom allows insurers to tailor policy administration software, insurance billing software, and claims management software to their needs. It also helps enable self-service options through customer portals, improving the customer experience.

AI, Low-Code Platforms, and Customer-Managed Core Systems in Claims Management

Claims are a core part of any P&C insurance solution. Still, many carriers struggle with outdated workflows. Enter AI, low-code platforms, and customer-managed core systems. AI speeds up first notice of loss, automates document intake, and improves damage estimates.

Claims management in insurance becomes faster and more accurate. AI also flags anomalies and potential fraud. This helps reduce claims leakage. Using a claims leakage prevention solution can save millions each year.

Underwriting Reimagined: AI for Smarter Risk Decisions

Underwriting is another area transformed by tech. Artificial intelligence in insurance underwriting helps assess risk faster and more accurately. AI analyzes real-time data to support decisions. It offers suggestions on pricing, exclusions, and limits.

These insights improve risk assessment for insurance. Carriers can avoid losses by better understanding exposures. As underwriting grows more complex, human underwriters rely more on AI to make better calls.

Subrogation Solutions: AI Finds Missed Opportunities

Subrogation is often overlooked. Yet it’s a key source of recovery. Advanced subrogation solutions powered by AI identify missed opportunities. These tools analyze claim data and launch automated recovery efforts.

When connected to a modern P&C claims system, they save time and increase collections. This supports the business case for AI in core insurance functions.

Low-Code Platforms: Speed Meets Flexibility

Insurers need to move fast. Low-code platforms help them do just that. With drag-and-drop tools, business users can create new workflows or apps. No deep coding knowledge required.

Whether it’s adding a new claims intake form or launching a partner portal, low-code platforms cut time to market. They also reduce IT spend—key to the economics of IT modernization for insurers.

Combined with AI, low-code platforms, and customer-managed core systems, insurers gain agility. This approach supports future-proofing your business with flexible tech.

Why AI, Low-Code Platforms, and Customer-Managed Core Systems Matter

The future of P&C insurance is flexible and fast. Using AI, low-code platforms, and customer-managed core systems, insurers unlock innovation. They improve efficiency. They lower costs. Most of all, they build systems that adapt.

As the artificial intelligence insurance industry evolves, insurers must avoid vendor lock-in. Owning your roadmap helps. So does having flexible technology.

What Industry Analysts Are Saying About AI, Low-Code Platforms and Customer Managed Solutions 

Key findings related to customer-managed solutions and self-service portals in Datos Insights‘ most recent report on P&C core solutions: 

• Low-code/no-code tooling is democratizing system development, enabling business stakeholders to participate in system modifications and reduce IT dependency. 
• Policyholder expectations are shifting rapidly, influenced by digital experiences in other sectors. Insurers are focusing on delivering seamless, transparent and fast processes, offering digital claims submissions, real-time updates, and personalized communication to meet these demands. 

To read more about the benefits of customer-managed solutions from Datos Insights team of experienced advisors, please visit https://datos-insights.com/ 

Conclusion

To thrive in today’s market, insurers need to modernize. AI, low-code platforms, and customer-managed core systems make it possible. They enable better claims handling, smarter underwriting, and self-service for policyholders.

Insurers that embrace this trio will future-proof operations and stay ahead of change.

SpearSuite™: Empowering Customer-Managed Modernization

SpearSuite™, built on Microsoft Power Platform, offers a modern, low-code, customer-managed solution that helps small and mid-size insurers modernize affordably and effectively.

• Fully cloud-native and scalable
• Rapid configuration and deployment
• Built-in analytics and automation
• Supported by insurance technology experts

Take Control of Your Technology—and Your Budget

Ready to rethink the economics of your core systems?

Schedule a Demo to see how SpearSuite™ can help you modernize with confidence—and control.

Or Request Pricing to learn how Spear’s customer-managed core systems can help you compete with the giants—without the giant budget.