InsurTech company INSTANDA has inked a partnership with digital consulting firm ADROSONIC to empower insurers to price risk better.
“Partnerships play a key role in the insurance industry, not merely for the growth and expansion of the business involved, but also for the transformation of the industry,” said Tim Hardcastle, the CEO and founder of INSTANDA. “The new partnership with ADROSONIC is exciting as it provides capability to new markets in North America, India, Middle East as well as Europe.”
Mayank, CEO and managing director of ADROSONIC, added that the deal will give insurers access to innovative digital product and customer propositions for new markets.
“An unprecedented event like Covid-19 has left a sudden yet profound impact on the Insurance Industry and their IT Systems, as they are now subject to rigorous scrutiny following the rapid shifting of entire workplaces online that was forced due to the pandemic,” Mayank said.
“As the key decision-makers respond to the new market demands and opportunities, they are starting to question the limitations of their existing processes and legacy systems, they also had to reassess the cost base turning to a more cost-effective and agile platform which enables them to provide quicker and more responsive service to their customers and clients.
“In such a scenario, INSTANDA’s no code platform coupled with ADROSONIC’s domain expertise along with a wide range of digital accelerators including RPA, Data Analytics, & CRM are key in liberating insurers from inflexible legacy technologies.
“These accelerators will power transformation across organisations looking at improving their ROI by dramatically reduced product launch times, underwriting and distribution costs and an unrivalled customer experience.”
