A leading London markets and international insurance team needed a re-usable, consistent, common platform solution that could be applied in different business units at a lower overall cost. Operating across multiple countries and using different technology solutions they required a platform that could centralise operations to achieve mutual goals.
A new product was build end to end in just 35 days.
The team used the INSTANDA platform with a multi-phased delivery across multiple countries targeting D2C, with plans to target the broker market in the near future.
The project was live in just six months and countries covered included Germany, France, Ireland, with other countries coming on board in 2020.
The product range includes classic cars and small business packages.
Having control over operations within the business was a key driver for success. Being able to build and implement changes internally rather than this be outsourced to an IT provider was a long-term goal that they could immediately see being achieved through INSTANDA.
They could also rapidly migrate their existing books of business onto INSTANDA once the product framework had been configured.
As well as a lower total cost of ownership, this offered the team the ability to innovate and react to market demands within existing online channels and improve the front-end site which had flaws previously, to make it a good UX experience for the customer.
The team also had backlog of changes waiting to be made, and with INSTANDA these could all be implemented at a lower cost.
Working with INSTANDA has opened up all sorts of possibilities for us. Especially around operational efficiencies it has provided us with a solution that no other software has before.
INSTANDA is an IT platform blazing a trail. Our new product was built end to end in just 35 days. And now its live we can adjust pricing on a real time and continuously feed in improvements. The agility INSTANDA provides will give us a competitive edge which will be very important to our future way of trading.
Working with INSTANDA opens up all kinds of possibilities. Especially around operational efficiencies that provides a solution that no other software has before.
INSTANDA CEO Tim Hardcastle said: “Seeing the first product go live on our platform is a significant moment for the team. Our platform provides an innovative and cost-effective way for our clients to bring new products to market; we expect this to be the first of many products on our platform and I’m confident in our ability to deliver on time and on budget.”