· Virtual marketplace allows clients to access market-leading platforms like Salesforce, Docusign, and Xero, all within the INSTANDA platform
· Access to platforms will allow insurers to bypass costly and slow integrations
· Marketplace could transform the industry, allowing it to embrace automated processes that underpin the likes of open banking.
INSTANDA, an end to end digital platform for the insurance industry, announces the launch of its integration marketplace, a virtual marketplace that allows insurers to pick and choose pre-integrated technology solutions.
INSTANDA’s clients will be able to integrate with other digital platforms, including Hubspot, Sage50 and Salesforce, Docusign, and Hyperscience. The marketplace gives INSTANDA connectivity to over 200 platforms which 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/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 lack the ability to make use of multiple technologies because their existing systems mean they have to build new capability in order to integrate. INSTANDA’s marketplace provides 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 the infrastructure similar to that found in open banking. 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, INSTANDA commented: “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. 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”
HedgeThink.com is the fund industry’s leading news, research and analysis source for individual and institutional accredited investors and professionals
