MANILA, Philippines, Feb. 21, 2022 /PRNewswire/ -- With the pandemic disrupting business continuity in the insurance industry and the need to accelerate digitalisation, Outsystems, a leading modern application platform and Insular Life (InLife), the first and largest Filipino life insurance company, have partnered for InLife's adoption of the Outsystems low-code platform to deliver agile, enterprise-grade digital solutions quickly across its business functions.
InLife Chief Technology Officer Gwendolyn Kelley who led InLife's digital transformation efforts especially its collaboration with OutSystems, was also recognised as one of the 2021 IDG CIO75 ASEAN. Now in its third year, the awards program celebrates best practices in digital transformation and innovation across the region. The awardees were judged on the core pillars of Innovation and Leadership, honoring transformational, inspiring, and enduring CIOs at both in-country and regional levels within Southeast Asia and Hong Kong.
According to a global KPMG survey conducted in 2021, over a third of insurance CEOs believe that the pandemic has permanently and fundamentally altered their business. The need for digital transformation in the insurance industry came as it is traditionally reliant on face-to-face contact with customers. Critical regulatory processes, such as compliance requirements, also necessitated in-person interactions for identity verification, training, and certification.
To continue servicing some 300,000 Filipino customers amidst pandemic restrictions, InLife turned to the OutSystems platform to develop digital applications quickly as several physical processes were made impossible. These include an e-licensing application integrated with numerous systems, COMPASS, a mobile-based application for independent financial advisors to monitor their sales activities and goals, as well as a client suitability assessment that digitalises the old paper-based KYC (know your customer) process. The latter was delivered in just three weeks by two developers, thanks to the OutSystems platform.
From customer-facing solutions to internal applications that improve agents' efficiency, OutSystems' speed and ease-of-use helped InLife launch 12 applications in a timeframe that would have required five times more developers if hand-coding.
"OutSystems is proud to have supported InLife in their digital transformation journey," said Mark Weaser, Vice President, APAC of OutSystems. "While the pandemic has forced many insurers to adapt, it has brought new opportunities to those able to respond quickly to changing market demands. As a leading low-code platform in the region, we have always helped our customers innovate quickly while ensuring the scalability, reliability, and security of their applications. We sincerely congratulate InLife on their achievements and look forward to helping more customers like InLife navigate digital transformation in the post-pandemic era."
InLife's Chief Technology Officer Gwendolyn Kelley, meanwhile, affirms InLife's commitment to digital transformation as one of its long-term goals. Under her guidance, over 100 employees have been trained to use approved low-code and robotic process automation platforms, including OutSystems, in a move to promote a culture of innovation at InLife.
"Digital transformation has always been a priority at InLife, where we champion the agile scrum approach to harness greater collaboration between business and IT teams," said Kelley. "This approach also paved the way to obtaining buy-in for the use of the OutSystems platform to digitalise our processes with a faster, modern approach to application development at a time when every organisation faces a developer talent crunch. Our collaboration with OutSystems has been instrumental in helping us to adapt faster than many of our industry peers and we are excited to see what other innovative possibilities our continued partnership will bring."
InLife continues to use the OutSystems low-code platform for increasingly strategic projects. The insurer launched its new cross-platform, mobile-friendly customer portal, called "TRIBOS", in January 2022. Available as a Progressive Web App, TRIBOS provides policyholders quicker and more convenient access to their account information anytime, anywhere.
About The Insular Life Assurance Company, Ltd
Insular Life (InLife) is the first, largest, and only mutual Filipino life insurance company in the country with over 111 years of uninterrupted service. We apply over a hundred years of experience in financial protection, risk management, savings, and investment to help you make confident decisions for you and your loved ones.
As a mutual life insurance company, our accountability is to our policyholders. They can be assured of being protected by a company that has an asset base of over P148 billion and net worth of P37 billion. We have a nationwide presence in 53 branches all over the country, and an expanded digital footprint to serve our customers, wherever and whenever they want. Our success is anchored on the growth and security of our partners, policyholders and beneficiaries, because we exist to offer a lifetime for good for everyone. For more information, visit www.insularlife.com.ph.
About OutSystems
OutSystems was founded in 2001 with the mission to give every organisation the power to innovate through software. The OutSystems modern application platform's high productivity, connected, and AI-assisted tools help developers rapidly build and deploy a full range of applications anywhere the organisation requires. With more than 525,000 community members, more than 1,700 employees, more than 400 partners, and active customers in 87 countries and across 22 industries, OutSystems has achieved global scale while helping organisations change the way they develop applications. Visit us at www.outsystems.com, follow us on Twitter @OutSystems or LinkedIn at https://www.linkedin.com/company/outsystems.
