Reinsurance News

Farmsure, INSTANDA target “ever changing and complex needs” of agricultural sector

21st November 2023 - Author: Kassandra Jimenez-Sanchez

Farmsure Underwriters Ltd, an agricultural insurance specialist has partnered with INSTANDA, a global provider of no-code insurance platform technology, to deliver innovative and tailored insurance solutions for the farming community.

handshakeThis partnership looks to address the increasingly complex challenges faced by the agricultural sector with adaptive, efficient, and customer-centric insurance offerings.

Challenges affecting the sector include the impact of climate change, evolving regulatory landscapes, and market uncertainties driven by factors such as the rising cost of living, which directly impact supply and demand dynamics.

Through a joint effort, Farmsure will leverage INSTANDA’s advanced digital insurance platform, empowering them to streamline their product development and distribution processes.

INSTANDA’s no-code, cloud-based platform enables Farmsure’s underwriters and product teams to design, build, and deploy new insurance products rapidly, putting the power of customisation directly into the hands of the industry experts.

AmericanAg - Global Reinsurance Solutions

The platform simplifies the quotation process for brokers, guiding them through risk assessment, adding endorsements, and enabling individual case underwriting with ease.

Andrew Bell, CEO at Farmsure commented: “The farming sector is undergoing rapid change, and the market is transitioning. We needed a partner that could provide us with the technology to respond to the ever changing and complex needs of our policyholders, and at speed. That’s no mean feat. For us, INSTANDA was the perfect fit.”

Farmsure has developed a Farm Policy solution that comprehensively covers all aspects of farming, including liabilities, livestock, livestock disease, agricultural buildings, home contents, and more.

To achieve this level of coverage, the insurer explained, INSTANDA’s modular no-code platform was the ideal solution, empowering Farmsure to tailor insurance products quickly and easily.

Tim Hardcastle, CEO & Co-Founder of INSTANDA, said: “Farmsure’s longstanding experience in the agricultural insurance domain, combined with INSTANDA’s digital capabilities, means the complex needs of individual farmers and agribusinesses can now be better met.

“This is something we’re extremely proud of. The partnership will help transform the sector – allowing greater innovation and enhancing risk management – ultimately helping to safeguard farming operations for the future.”

Print Friendly, PDF & Email

Recent Reinsurance News