Chicago-based Green Shield Risk Solutions has partnered with INSTANDA to enhance its product and service offerings.
Green Shield’s mission is loss prevention, protecting policyholders from both the financial and emotional costs of losses.
To achieve this, Green Shield is launching niche personal products to not only provide coverage, but also use data to help policyholders prevent losses.
Green Shield focuses on the culmination of modern technology, data, and specialty insurance to reduce loss against catastrophic events.
Through INSTANDA, companies can now amend rates, questions, documents, customer journeys in minutes and new products can be launched in days and weeks. They claim return on investment is delivered in weeks via dramatically reduced product manufacturing, underwriting and distribution costs.
Green Shield said it chose INSTANDA’s insurance-specific, no-code platform to support its ambition to get products to market as quickly as possible and iterate in an ever-changing climate.
The partnership with INSTANDA will also enable Green Shield to tie into a complex data ecosystem to best underwrite properties and anticipate losses.
Patrick Blandford, CEO of Green Shield Risk Solutions, said, “Green Shield focuses on building products and solutions to fill insurance process gaps. As a startup, we must be able to adapt to market demands quickly. With INSTANDA, we can be in the driver’s seat of our products & distribution channels, enabling us to grow and enhance our solutions over time.”
Tim Hardcastle, CEO of INSTANDA, added, “We are thrilled to work with Green Shield Risk Solutions to help them introduce new insurance products and improve their customer engagement.
“Our platform provides insurers with the flexibility to rapidly launch tailored products with automated, digital processes, and we look forward to seeing the impact it will have for Green Shield.”
INSTANDA secured $45m in a funding round led by growth equity investment firm Toscafund back in 2022.
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