INSTANDA, a platform known for helping insurance carriers and MGAs create and implement complex insurance products, has recently announced the integration of its Life offering into Swiss Re’s underwriting platform. This collaboration aims to streamline the online customer journey for Life insurance applications by combining INSTANDA’s technology with Swiss Re’s automated underwriting platform, Magnum. The goal is to make the application process quicker and more efficient for both insurers and customers.
The integrated Life offering is designed to create a seamless customer experience and accelerate the application process, allowing users to complete their applications in a much shorter timeframe. While the solution is currently focused on UK Life insurers, there are plans for a global rollout in the future.
Will Wood, the director of Life and Health at INSTANDA, expressed excitement about the collaboration, stating that the integration of INSTANDA’s technology with Magnum is a significant step towards creating a more efficient and seamless experience for insurers and customers. The partnership also includes Yovant as a delivery partner, ensuring a smooth integration of both technologies to enhance the customer experience in the Life insurance market.
Mahender Nagunoori, Chief Digital Officer at Yovant, emphasized the importance of seamless collaboration between technologies to drive industry impact and deliver a product that benefits all stakeholders. Anita Munford, Head Magnum & L&H Solutions Delivery EMEA at Swiss Re, highlighted the significance of embedding Magnum into INSTANDA’s platform to provide customers with an enhanced experience and streamline integrations across the industry.
Overall, the collaboration between INSTANDA, Swiss Re, and Yovant is seen as a positive step towards leveraging innovative technology to improve the customer experience in the Life insurance market. The partnership aims to create a cohesive ecosystem that benefits insurers, customers, and the broader industry as a whole. By combining their expertise and resources, the companies involved are working towards a more efficient and seamless insurance application process for all parties involved.