30 Most Innovative Companies 2017
CodeObjects was founded by Anil Annadata in 2006 and is based in California. Initially, the company was formed to deliver a robust platform to develop highly configurable business applications based on cloud technologies. It was quickly discovered that there is a huge demand for their product through their first customer, a very large insurance carrier due to the significant need for configuration and a solution that can improve speed-to-market. As a result, CodeObjects launched InsuranceEnterprise as a solution targeted to the insurance industry.
Today CodeObjects provides a suite of products that can be easily configured to suit the client’s needs. InsuranceEntperise has evolved over the last 10 years. PolicyEnterprise was the first application created using the CodeObjects platform. PolicyEnterprise is a very flexible policy administration solution that was designed to standalone or function within a large end-to-end insurance ecosystem that are most common in large enterprise level insurance carriers.
Because of the platform on which PolicyEnterprise was built, it is very easy to integrate it to Claim, CRM, and Billing solutions. The success of PolicyEnterprise further exposed significant flaws in many solutions that were ported from older technologies and lacked robust capabilities offered by cloud and other leading edge-technologies. Soon after the release of PolicyEnterprise, CodeObjects built, RatingEnterprise, BillingEnterprise and ClaimEnterprise, to extend the company’s product offering and close the gaps.
Today InsuranceEnterprise offers a complete end-to-end core system solution, that can deliver the breadth of functionality demanded by the most complex insurance carriers. With InsuranceEntperise carriers are well positioned to respond to the ever-changing demands of their customers and the market.
Treading to Success
It should be noted that CodeObjects has been successful right from its first customer by implementing its system and accomplishing the massive task of converting the customer’s legacy policy information into PolicyEnterprise. The company believes that having a solution that provides controlled integration end-point is invaluable for a conversion project of this magnitude. In addition to the transaction processing systems provided, CodeObjects contains a robust rules and workflow engine that makes it different from others. Hence, the process of implementation is focused on both configuration and process improvements simultaneously.
Of course no organization embarks on an innovation project without difficulties and challenges. Initially, the product implementation process was a challenge for customers because they were not used to working with a model driven solution that enables the design, configuration, and testing of the solution and business processes in such an iterative way. With InsuranceEnterprise an organization can achieve the greatest value by modeling their business process alongside the insurance product rules and processing flows. This requires the synchronization of many resources across the organization but is an invaluable investment. Customers that invest the time and effort to do so have reaped significant benefits because the solution becomes part of the process rather than an impediment as is often the case.
CodeObjects understands how important it is to have resources with domain knowledge as part of the project team. Therefore, CodeObjects has built a team of experts business analyst from the insurance industry that understand the business processes and nuances of the industry. Much of the company’s success can be attributed to the perfect mix of business professionals with domain knowledge and a leading-edge software engineering team.
CodeObjects has come a long way since 2006 and rolling out its first product. The company has continuously enhanced its products by incorporating customer feedback and features driven by market demands. Keeping with their key company pillar of “Service at the Core”, the cloud first and web-service architecture makes it possible to quickly assess customer requests and respond with innumerable tailor-made and standard solutions which help to sustain a competitive advantage in a very competitive market space.
The Insurance industry is conservative. Therefore, it has taken some time for the mainstream market to embrace the value of the cloud. One of the reasons behind their consistent growth is their successful and referenceable customers who are proven cases studies of the value that cloud computing can provide an organization.
The CodeObjects’ products have increased in popularity over the last few years. The company believes that their success has been driven by their experience in deploying highly-secure cloud solution on leading edge-cloud platforms like Amazon. They understand the criticality of security and has achieved SOC certification which mitigates the concerns of most executives in the insurance industry.
Teamed to Succeed
No organization can possibly think of succeeding without its employees. At CodeObjects, a team of 95 employees are organized in three areas, technical engineering, professional services, and business development. A typical day in the CodeObjects’ office is full of energy. The environment is thriving with collaboration, innovation and customer-centric ideas which is exciting to see and fun to be a part of.
While building a vertical solution, one needs to have deep domain knowledge of that vertical and also an understanding of the challenges in that vertical. The team listens to the demands of the customers and responds with solutions that enable business advantages for customers. Deploying a solution is the easy part, becoming a trusted advisor and partner for customers is what will sustain the venture. And the team at CodeObjects is motivated to achieve this.
By following a continuous improvement model, the architecture allows the company to seamlessly deploy new enhancements to all customers as they are ready for market. Similarly, CodeObjects believes that they will be the leader in providing solutions that enable speed-to-market for insurance carriers of all sizes. CodeObjects aims be known as the company that made purpose-built adaptable solutions a reality.
Meet the mastermind
Anil Annadata founded CodeObjects in 2006. With over 21 years of experience in building, managing and implementing large Enterprise software platforms serving many global companies, Anil has been able to lead the company to its success. Anil has held senior executive management positions at Siebel Systems where he spent more than 9 years and built their largest Enterprise horizontal product line. Later, he became the President and CEO of Implemo Systems, a leading Enterprise CRM implementation and Management Consulting firm. Currently, he is the primary inventor of 18 patents in Enterprise Software. In his spare time he enjoys playing golf and exploring restaurants in San Francisco, CA.
“CodeObjects gives carriers the flexibility and speed they need to respond to change, reduce risk and grow.”