Customer and policy management platform INSTANDA has partnered with consultancy Capco. Their combined goal is to accelerate digital transformation in insurance.
As a result, Capco will utilise INSTANDA’s cloud-based digital insurance software to support its clients’ transformation needs.
Go deeper with GlobalData
In a statement, the firms stated the increased competition and the impact of COVID-19 has increased demand for “technology that enhances customer journeys and mitigates the challenges posed by regulatory change”.
In addition, the success of challenger insurers, or insurtechs, has shown a shift in expectations from customers. Simultaneously, incumbents are looking to manage the consequences of regulatory changes on their existing infrastructure and processes.
Tim Hardcastle, CEO & founder of INSTANDA, commented: “I am delighted to announce our partnership with Capco today. Over the last few years, we’ve seen key insurance players realise the advantages of combining digital with data to unlock growth. The partnership between INSTANDA, the first no-code platform for the insurance industry, and Capco represents the future of the industry; one fit for purpose; where operational efficiency reduces costs and where traditional incumbents don’t just compete with challenger insurers in the application of digital and data, they do it better.”
Matt Hutchins, partner and insurance lead at Capco, added: “The pandemic and its associated impacts have forced insurers to reflect on how their operations might be improved through the acceleration of their digital transformation plans. Streamlining their businesses, reducing cost and improving customer experience are all key priorities – but other challenges are also coming down the line that will require flexible, cost-effective and open architectures with integrated data analytics, for example Open Finance. Such architectures are critical to generate the right insights and support the push to hyper-personalisation of products and services for customers.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn June, INSTANDA partnered with technology and consulting company Softelligence, bringing the firm into Europe.
The alliance enabled INSTANDA to expand its global reach and support its mission to digitally transform the insurance industry.
