INSTANDA, a UK-based solution-as-a-service insurance software platform, has partnered with ADROSONIC, a digital consulting firm, to accelerate the digital transformation in the insurance industry.
INSTANDA’s no-code platform and ADROSONIC's insurance domain expertise will empower insurers with the agility to price risk in ways that meet the client’s needs in a changing post-COVID-19 world.
Commenting on the deal, Tim Hardcastle, the CEO and founder of INSTANDA, highlights that partnerships “play a key role in the insurance industry, not merely for the growth and expansion of the business involved, but also for the transformation of the industry”.
Hardcastle says the new partnership with ADROSONIC is “exciting” as it provides the capability to new markets in North America, India, Middle East as well as Europe.
"Given the paradigm shift that the market is undergoing, partnership models need to demonstrate not just agility and flexibility but to do so with high-quality execution,” he adds.
Mayank, CEO and managing director of ADROSONIC, explains that the tie-up would provide insurers with “innovative digital product and customer propositions for new markets as well as liberate insurers from inflexible legacy tech and from high-risk, high-cost and multi-year change programmes”.
He explains that an unprecedented event like COVID-19 has left “a sudden yet profound” impact on the insurance industry and their IT systems, as they are now subject to rigorous scrutiny following the rapid shifting of entire workplaces online that was forced due to the pandemic.
