International specialty insurer and reinsurer Convex wanted to speed, simplify, and automate underwriting processes. By partnering with EY and Unqork, the insurer was able to reduce a key underwriting process from four days to four minutes—and go from ideation to MVP in just 10 weeks.
And that’s just the beginning.
To explain to Create audiences how Convex was able to achieve such a big win so quickly, Lauren Rees, Product Owner of the Digital Underwriting team at Convex, was joined by two leaders from EY—Jessi Petrosino, Global Unqork Practice Delivery, and Lars Tandrup, Global Unqork Practice Lead.
“Convex was fortunate to be able to leverage the Unqork platform to truly keep it simple and truly stick to that MVP to get us into production in less than 10 weeks,” said Rees.
Best of all Unqork will serve as a platform for future product innovation. “The Convex team has been able to harness the power of Unqork to build better and faster across a diverse set of products,” added Petrosino.
Why Convex chose CaaS
Speed, simplicity, and a sharp focus on CX were the three key factors that convinced Convex to adopt Unqork’s CaaS platform. “We could see very clearly how well Unqork has demonstrated that you could rapidly build and deliver with their platform,” said Rees.
Her team also wanted something that was simple to get up and running—and that would make ongoing innovation faster and easier, too.
“We had that common goal of how do we make the process simple and have a quick speed to market, and also have fewer dependencies on other departments,” said Rees.
“We really do genuinely live that MVP 80/20 rule,” added Rees. “Unqork has embraced that culture, EY has embraced that culture, and we are all working on the same page.”
IT and the business on the same page—literally
Both EY and Convex have been impressed with the way Unqork’s CaaS platform doesn’t just facilitate agile development. It actually goes beyond agile.
How? By enabling business and development teams to literally sit down together and build software together, thanks to Unqork’s intuitive, 100% visual designer experience, explained Tandrup.
“The developers, the testers, the business people, and in this case the clients make changes on the fly,” said Trandrup. “It impacts quality, not just speed. We see fewer defects because of this dynamic.”
“Having our brokers see the developer and appreciating the work that everyone is doing has really made a difference,” added Rees.