Cloud-based digital insurance platform INSTANDA has launched a virtual marketplace designed to give insurers the ability to pick and choose pre-integrated technology solutions.
INSTANDA says its clients will be able to integrate with other digital platforms, including Fitbit, Hive, Sage50 and Salesforce, Docusign, and Hyperscience.
The marketplace will expand in 2021, as INSTANDA increases both its partner platforms, giving clients access to a range of leading business solutions in one place.
INSTANDA notes how existing systems require the construction of new capability in order to integrate multiple technologies.
This new marketplace has been designed as a one-stop-shop where platforms are pre-integrated.
This acceleration offers multiple benefits, as insurers immediately bypass expensive and time-consuming integration projects.
The marketplace provides an infrastructure similar to that found in open banking and, in the near future, will allow insurers to integrate products with voice bots.
This would allow an individual to ask their Alexa when their car insurance is up for renewal and enable automatic repayments so customers are auto-repaid if a flight is cancelled.
“Technology platforms like Hubspot and Hyperscience are transforming the banking and insurance industry, allowing businesses to improve and automate everything from their customer relationships to their finances,” said Gari Gono, Head of Solutions, INSTANDA.
“The challenge is, many insurers aren’t adopting these new technologies because it is costly and difficult to integrate them into their existing infrastructure.
“Our marketplace provides a solution to this. With INSTANDA, these solutions are pre-integrated and ready to go. Insurers for too long have been held back by legacy technology, with the INSTANDA marketplace this is now no longer the case.”
