The insurance industry is heading towards a transformative time from a technology perspective making it critical for the solution providers to provide organizations the flexibility to conform to changing business needs and customer demands. Consumers are demanding more than asset protection for their premium and carriers are going to have to respond with innovative products and services. California based CodeObjects has culminated into one of the most complete hosted software and services platform for the property and casualty insurance industry. It is dedicated to helping insurance firms drive business efficiency, adapt to market change, and increase profitability and growth through its next-generation, cloud-based enterprise software and services platform.
CodeObjects was initially formed to deliver a robust platform for the rapid development of highly configurable business applications based on cloud technologies. “Our first customer for the platform was an insurance carrier, and we discovered quickly that there was a huge demand for a product like ours in the insurance industry because of the significant need for configuration,” says Anil Annadata, CEO of CodeObjects. “We felt the need to deliver a base platform that can be configured to interact with various IoT devices and capture the important data generated by these devices as well as any information from any industry data provider.” CodeObjects simplifies the process of capturing, processing, and analysing data that is streaming from an IoT device or integrated to an industry data provider so the customers can gain insights quickly and react with timely information in a way that is natural for the end-user be it an agent or a policy holder.
The company’s product InsuranceEnterprise was built to enable mid-sized carriers to aggressively compete with the “insurance powerhouses” of insurance. Every module of InsuranceEnterprise leverages the rule modelling engine that is at the heart of the platform. This allows mid-sized carriers to leverage the insurance product templates provided out-of-the-box and quickly configure them to meet their special needs. In addition, things like, document and content management, security, address cleansing, workflow management, diary and notes management, role based access, backup and restore, disaster recovery, elastic-scaling are all available out-of-the-box ready to use so our customers don’t have to worry about building this infrastructure.
CodeObjects applications are built using J2EE framework and are architected using Service Oriented, Event Driven and Metadata based technology. All our end user applications are Web based and run on all standard web browsers. Our system is based on a relational database schema and is SQL compliant. We expose our application services as SOAP web services for external integration and we have built-in support for consumption of SOAP or RESTful web services.
Recently, United Insurance Holdings Corp., a leading property and casualty insurance firm, has successfully gone live with Insurance Enterprise in the cloud. Insurance Enterprise delivered key benefits with its full configurability, speed to market and enhanced agent experience. By virtue of being fully cloud-enabled using Amazon Web Services, Insurance Enterprise reduced UPC’s IT infrastructure costs.
CodeObjects’ direction is to continue to focus on providing a solution that can be easily configured/changed as the customer needs change. The company is working on enhancing their platform and applications by providing the infrastructure required to aggregate and model heterogeneous data and the tools to leverage Artificial Intelligence like voice-assistants, chatbots, and predictive analytics. “We will be a leader in providing leading edge software solutions that enable Speed-To-Market for Insurance carriers of all sizes. CodeObject will be known as the company that made instantaneous product changes and deployment a reality!” concludes Annadata.