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New insurance products can be built in hours, not weeks

25 July 2022 | Blog

A common misconception is that when building a new product using insurance software platforms, it takes months to go live. We’re here to confirm that new insurance products can be built in hours rather than weeks, while product updates can happen in minutes rather than days.

The ParaCode platform aims to reduce the time to-market through its easy-to-use implementation capability, as well as the ability to react to new opportunities or changes in the market. We achieve this with our class-leading no-code insurable definition capability, flexible & powerful rating engine, drag and drop screen-form builder, templated document generation, and report generator.

ParaCode is the most advanced cloud-based insurance policy administration and claims management software for insurers, brokers, MGAs and coverholders. It was designed by insurance professionals and built by software development experts to overcome the frustrations and limitations of many of the other software options available. It is a fully flexible, end-to-end platform that was designed to allow anyone to quickly and easily manage any insurance product, using the very latest technologies.

Don’t just take our word for it, see what some of our customers have to say:

“We built an entire product in less than a day.”
Managing Director
Stoneways Marine Insurance Services Ltd

“We’re processing claims in 25% of the time it used to take.”
Claim Manager
KBIS British Equestrian Insurance

“ParaCode is making a massive difference. I have managed to do half a month of renewals on my own in two days. This was unheard of on the old system.”
Yacht Manager
Stoneways Marine Insurance Services Ltd

“ParaCode has been a game-changer. I have said that multiple times and I will say it again.”
Equine Underwriting Manager
The Underwriting Exchange (Ireland)

For more information, if you have any questions about building new insurance products, or if you would like a demo of the platform, please contact us today.