Softelligence announces strategic partnership with INSTANDA to support the insurance industry in adopting digital solutions

Author:

Press release

Bucharest, July 1, 2020

 

Starting June 2020, Softelligence consolidates its commitment to accelerate the digitalization of the insurance industry by announcing their partnership with insurtech firm INSTANDA, a leading customer and policy management platform for the insurance industry, which is headquartered in the UK and has offices in the USA, Chile, Japan and Australia. The platform, hosted on Microsoft Azure, is entirely no-code thus having the possibility to configure from simple general insurance products to life and health insurance. As a technology provider, INSTANDA is present in 12 countries with hundreds of insurance products launched with world leading insurance carriers. At the beginning of this year, INSTANDA announced the A series financing round to the amount of 19.5 million USD for global expansion.

 

The objective of this partnership between Softelligence and INSTANDA is to provide insurers in Central and Eastern Europe with access to technology dedicated to the insurance industry. That, together with business expertise and successful project delivery services, has the goal to accelerate digital transformation, which is much needed at the moment in the context of the crisis generated by Covid-19, but also in the future, from  the perspective of changing consumer behaviors, as well as regarding the evolution of the rules of social distancing.

 

Daniel Jinga, Consulting Director, Softelligence: Now, more than ever, our clients are calling for the entire digital transformation process to be accelerated. Our goal is to enable insurers, brokers and other players in the financial services industry to grow their businesses while optimizing costs using state-of-the-art technology and an experienced team at every stage of this transformation process. In this sense, we are delighted with the partnership with INSTANDA, a digital platform that redefines the user experience and insurance distribution.

 

Tim Hardcastle, CEO INSTANDA: We are delighted with the partnership with Softelligence. As the first strategic agreement in Europe, it represents for us an important moment in the company’s activity and in the continuous expansion of our global network. INSTANDA was born out of the belief that technology should promote innovation, not hinder it. Being the first no-code platform in the industry that covers all lines of insurance, we offer more power to product and service development teams by charting a perfect path to digital transformation. Through the partnership with Softelligence, we are able to further expand our reach and continue to help customers grow their volume, streamline their business and develop their potential. 

 

Regarding the capabilities of the INSTANDA platform, the acceleration of the launch of new insurance products can be reduced to a few days, for products with low complexity, which brings a significant cost optimization for companies. In addition, through the no-code configuration method, the access to the personalization of insurance products no longer requires the intervention of the IT and programming department through the no-code platform. The platform is addressed in particular to the lines of Life & Health, Property and Casualty but also hybrid insurance models. It is used globally, with over 2500 products created for insurers and brokers. Last but not least, the cloud-based platform holds the Cyber Essentials security certification granted by the National Cyber Security Center in the United Kingdom.

Adrian Blidăruș, CEO of Softelligence: We founded Softelligence in 2006 with the mission to create value and accelerate the growth of our customers by facilitating their digital transformation with the help of technology, a fantastic team and a different business vision. In this context, we are honored by the partnership concluded with INSTANDA, a company with which we share the same vision, the same values ​​and similar objectives. Moreover, our expertise in professional insurance services is well suited to bring the platform to those organizations that are looking for a new generation of insurtech solutions. 

 

About Softelligence:

Softelligence is a technology and consulting company, founded in 2006 in Bucharest, specialized in the development and implementation of digital transformation solutions, targeting mainly the financial-banking and insurance industries: cloud-based services and solutions based on machine learning and artificial intelligence, process automation, Business Intelligence, data analysis, software development and other digitization processes. Most recently, Softelligence announced that it is part of the top FT1000 of the fastest growing companies made by the Financial Times.

Currently, the company has 4 offices in Romania, Great Britain and Canada from which it serves enterprise clients globally.

 

Learn more about INSTANDA at instanda.com

 

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