Specialist re/insurer Hiscox has announced a new partnership with InsurTech firm INSTANDA to further its European growth strategy.
Working together, the parties plan to explore opportunities for further growth across Hiscox’s commercial and personal lines business, through multiple distribution and service channels.
“We are always looking to take a progressive approach to underwriting and to adopt proven innovative technology solutions that are beneficial to our business and more importantly our customers,” said Stéphane Flaquet, Managing Director of Hiscox Europe.
“Following an extensive evaluation of leading technology e-trading platforms, we are pleased to partner with INSTANDA, having been impressed by the expertise of the team and their ability to deliver demonstrable results,” she continued.
The first Hiscox product to use the INSTANDA platform will begin trading in Germany in early 2019, with more products expected to move onto the platform throughout the year.
Tim Hardcastle, Chief Executive Officer (CEO) of INSTANDA, also commented: “Our partnership with Hiscox in Europe is another significant step forward for our business, enabling us to deliver quantifiable value to our clients.
“Naturally, we are delighted to be working with one of the world’s leading specialty insurers and look forward to helping them drive their business forward.”