London, UK - As a newly established MGA, INSTANDA’s flexibility enables Imperium to build and bring products market, rapidly. It provides the company with the infrastructure and confidence to build more innovative, niche products.
Underwriting specialist products for the UK and Irish market, Imperium Insurance Management aims to deliver a great experience to its network of brokers. The company’s mission is to empower its customers by makingspecialist products easy to purchase. This means getting highly tailored products out to brokers to their own timetable, to proactively anticipate customers’ needs and respond to market changes.
For a business with such a customer-centric mission, effective technology and digital enablement were paramount. INSTANDA, with its SaaS-based commercial model, represented a risk-free proposition. Its self-service capability to build products rapidly and to maintain them post-launch, made it an even more attractive option
Niche insurance product build
Imperium’s relationship with INSTANDA kicked off with a commercial tradesman product; ‘co-build’ with the INSTANDA team. A specialist farm product soon followed, forming part of a new division: iFarm Underwriting. Throughout these co-builds, INSTANDA led the Imperium team step-by-step through the process of building a product in INSTANDA, facilitating knowledge transfer and enabling future ownership.
Imperium’s trained super-users are now in full product-build mode. In the days following a new product launch, Imperium can react immediately to broker feedback and make changes to their questions and rates within the hour.
For the management team, it has dramatically reduced the time spent with systems providers. Time they can now spend developing the business and fine-tune their offerings.
Speaking of their experience, Imperium said “INSTANDA listened to, understood and reacted to our needs. They are willing to work alongside you to offer a tailored solution, and the senior team take pride in ensuring great customer service.”
“We can now react immediately to broker feedback and make changes to their questions and rates within the hour.”