Digital Insurance Agenda

INSTANDA: Insurance. Technology. Decoded

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Dec 28, 2021

London-based INSTANDA is a fully digital policy administration platform that allows clients across the General Insurance and Life and Health space to build insurance products, distribute to multiple audiences, and maintain them through the complete insurance lifecycle. With its unique and flexible user interface, insurers can design, rate, underwrite, quote, bind, issue and service policies for customers, agents, brokers and wholesalers.

Group protection and health platforms have had little focus in the insurance industry. The methods used to setup schemes, import member data, bring on new joiners and remove leavers are still clunky and manual, alongside, member engagement post sale is really hit and miss. At INSTANDA they have built a fully automated solution to cater for group schemes which automates the process from initial collection of company data to setting up members with their own member portal. INSTANDA operates exclusively through Software-as-a-Service (SaaS). Their no-code product design platform is built on a powerful set of insurance specific calculations, processing and workflow capabilities.

INSTANDA serves more than 60 major clients in 14 countries and has a user group and community of over 5000 members. It counts HISCOX, Aviva, and Standard Bank Insurance among their clients.

How it works

INSTANDA is a fully customizable SaaS-based policy administration platform that enables insurers to get ahead of the competition, with super quick agility.

Advantages:

  • Speed to market (8-12 weeks)
  • Agility and flexibility
  • Low Total Cost of Ownership

Why we selected INSTANDA for DIA Amsterdam

In place of the slow, inflexible and expensive insurance product roadmap INSTANDA offers a solution that’s rapidly deployable, agile, low cost, innovative and self-configurable.

At DIA Amsterdam INSTANDA will be showing how group products can be automated in a similar way to traditional individual protection and health products. The neatest innovation on this new capability for INSTANDA is the creation of a member portal which happens instantly once the scheme is set up. Member engagement has always been poor in the industry and now INSTANDA is opening the door for employers to really show off the benefits they are putting in place for their most valued assets. With the right information a product can be set up and take it in to market and have employers setup with member benefits in place within minutes.

Presenters: Will Wood (Head of Life & Health), Gari Gono (Head of Solutions)

Who is INSTANDA?

Co-founded in 2012 by Tim Hardcastle and Derek Hill, INSTANDA has grown rapidly and now employs over 150 staff members, servicing more than 60 major clients (with 10 clients with over £1bn GWP) and a user group and community of over 5000 members. INSTANDA counts HISCOX, Aviva, and Standard Bank Insurance among their clients.

INSTANDA has global delivery and capability from offices and partners in U.K. and Europe, the U.S., Australia, South America, Canada, and Japan and the UAE, with products successfully distributed in 14 countries. Key partners include Deloitte and Microsoft.

In March 2020, INSTANDA raised $19.5m USD in their last round of Series A funding, with investment from Assembly Capital Partners.

INSTANDA was the first insurtech solution on Microsoft Azure Marketplace.

“Mass customization and low distribution costs are two of the biggest technology opportunities in the insurance market today and yet, for many, they’re two of the biggest challenges. INSTANDA meets the challenge head on.

Tim Hardcastle, co-founder INSTANDA
29-30 June, Taets Art & Event

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