INSTANDA launches InsurTech integration marketplace

InsurTech INSTANDA has launched an online integration marketplace, which will open up more than 200 platforms providing technology solutions for insurers.

The company, which has build and an end to end digital platform for the insurance industry, said the marketplace will enable insurers to pick and choose pre-integrated technology solutions.

InsurTech INSTANDA has launched an online integration marketplace, which will open up more than 200 platforms providing technology solutions for insurers.

The company, which has build and an end to end digital platform for the insurance industry, said the marketplace will enable insurers to pick and choose pre-integrated technology solutions.

InsurTech INSTANDA has launched an online integration marketplace, which will open up more than 200 platforms providing technology solutions for insurers.

The company, which has build and an end to end digital platform for the insurance industry, said the marketplace will enable insurers to pick and choose pre-integrated technology solutions.

As part of the integration marketplace, INSTANDA clients will be able to integrate with other digital platforms, including Hubspot, Sage50 and Salesforce, Docusign, and Hyperscience.

The more than 200 platforms have been chosen because they provide a business solution for insurers – from customer relationship management (MS Dynamics, Hubspot, Salesforce) to data ingestion ( MS cognitive search and Hyperscience) AI and chat bots (Machine Learning Studio and Smartek) IOT for home (Hive), health (Fitbit) and finance (Sage Accounting).

The marketplace will expand in 2021, as INSTANDA increases both its partner platforms, allowing clients to access a wide range of leading business solutions in one place.

Currently, insurers need to build new capacity in order to integrate with technology partners, meaning that drawing on new technologies and data sources can be a costly and time consuming process.

Announcing the move, INSTANDA said the the marketplace provides the infrastructure similar to that found in Open Banking, which relies on Application Programming Interfaces (APIs) to facilitate consumer-permissioned data sharing.

The company said that In the near future, it will allow insurers to integrate their products with voice bots – so customers can ask their Alexa when their car insurance is up for renewal – and automatic repayments – so customers are auto-repaid if a flight is cancelled.

Gari Gono, head of solutions, at INSTANDA, said: “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.

He added: “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”

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