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In today's digital world, ecosystems offer companies a unique way to collaborate and share innovative ideas. These collaborations can lead to the development of new products and services that individual companies may not have been able to realize independently. Novulo's Assurance Developers Community is a perfect example of how such a digital ecosystem takes action.
This Insurance Developers Community consists of a collection of intermediaries, proxies, service providers and insurers that have embraced composable insurance software. Within this community, ideas and needs are shared, a roadmap is designed and translated into practical solutions that can be added to the store on the platform. In this way, a breeding ground has been created for exchanging, analyzing and converting ideas and needs into concrete solutions.
Thanks to open communication, the community can adequately respond to market trends. Many organizations in the insurance industry had been in need of innovation for some time, but were unable to adequately meet that need due to the existing situation and the portfolio. Through collaboration, all members of the community get better and are able to add more valuable features to the platform faster than they can do on their own.
Outside the Assurantie Developers Community, a multitude of organizations and partners from other sectors use the Novulo platform as a basis for their application development. They are also taking the platform further with new opportunities. This can be done in the field of e-commerce, logistics, financial administration or other ERP functions. These field-proven components can also have considerable added value for insurance companies. This cross-pollination of more generic functionality and industry-focused functionality can lead to innovative insights and product improvements that can also be extremely useful across the boundaries of your own knowledge domain.
It's important to understand why composable insurance software is so critical to the insurance industry. Many insurance companies face challenges in a rapidly changing digital world. They are looking for solutions to keep up with the dynamics of the digital transformation, while trying to control costs in their existing IT landscape. Traditional software vendors often offer limited innovations, leading companies to look for more flexible and cost-effective solutions.
Research firm Gartner© has recognized the growing trend of application composition as a solution to these challenges. Novulo was featured as a “sample vendor” for “application composition platforms (acp)”, underlining the platform's strength and potential. The Novulo all-in-one insurance platform is the solution for insurers, intermediaries and service providers who want to innovate and break free from their outdated business applications. It offers everything you expect from a complete insurance package, plus more!
S01E03 of Novulo Explained explores how the Novulo Store turns enterprise software into a collaborative marketplace. Thousands of creators build, share, and reuse components, accelerating innovation across the ecosystem.
S01E02 of Novulo Explained explores how a shared ontology solves the billion-dollar translation problem in enterprise software. Fewer integrations, more reuse, and AI that truly understands your business.
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