INSTANDA Integrates with UnderwriteMe
INSTANDA, a top global SaaS provider for life insurance distribution and policy administration, has announced a significant integration with UnderwriteMe, a leading SaaS underwriting platform in the life insurance sector. The new partnership allows clients to implement INSTANDA's distribution and policy administration platform, while also benefiting from UnderwriteMe's underwriting automation technology.
The integration between INSTANDA and UnderwriteMe aims to provide an integrated solution that streamlines life insurance distribution channels. By combining INSTANDA's customisable, no-code policy administration platform with UnderwriteMe's advanced underwriting technology, clients can efficiently manage and deploy insurance products across key markets, including the UK & Ireland, North America, ANZ, and Asia.
INSTANDA's platform allows insurers to build and distribute a wide range of insurance products quickly and efficiently. The platform supports various distribution channels, including direct-to-consumer, brokers, and affinity partners, enabling insurers to innovate and reach markets swiftly. This flexibility and speed are critical in addressing region-specific challenges, allowing insurers to reduce time-to-market and enhance their competitive edge.
Enhancing Underwriting with Automation
UnderwriteMe's technology further enhances this offering by providing robust underwriting automation. Their Decision Platform helps automate decision-making processes, making the insurance customer journey smoother and more efficient. This integration brings insurers, brokers, and customers closer, facilitating easier access to the latest tools and data for transforming underwriting processes.
Together, the combined capabilities of INSTANDA and UnderwriteMe enable insurers to achieve greater digitisation, reduce operational costs, and improve overall efficiency, particularly valuable in a market facing talent shortages and increasing demand for technological solutions
This integration also supports progressive insurance carriers in reducing their total cost of ownership for technology. It offers a no-code platform approach, which simplifies the process and reduces the time required to bring products to market. Additionally, this partnership comes at a critical time when the industry is facing talent shortages, particularly among software engineers and underwriters. By leveraging technology, insurers can alleviate some of these pressures and continue to deliver value to end consumers through faster decision-making processes.
Tim Hardcastle, Co-founder and CEO of INSTANDA comments on the collaboration: “At INSTANDA, we have bold ambitions to transform the insurance industry using our no-code core insurance platform and ultimately create better outcomes for the end consumer. Our partnership with UnderwriteMe will allow us to successfully collaborate with modern and progressive insurers across the globe – giving them the tools to create new efficiencies and cutting-edge underwriting. The life insurance industry has been an important growth area for us over the last year and this collaboration offers a winning formula that will play an important role in accelerating the expansion of our life and health proposition.”
James Tait, CEO of UnderwriteMe added: “We are excited to collaborate with INSTANDA and, through the integration of their product with ours, help more insurers make the move towards greater digitisation. The integration means it is even easier for life insurers to access and deploy the latest tools, techniques and data that will transform underwriting automation as we know it – regardless of where they are in the world, their size and scale and product suite.”
**************
Make sure you check out the latest industry news and insights at InsurTech Digital and also sign up to our global conference series - FinTech LIVE 2024
**************
InsurTech Digital is a BizClik brand
**************