Enterprise ready by design INSTANDA has been built from the ground up focusing on the speed of change. INSTANDA was designed to be a breakthrough solution. This agility is achieved via innovations in every layer of the insurance system architecture; establishing a common foundation for selling any insurance product; business users can configure each and every step in the workflow. This means product designers, risk management professionals and business analysts can build, design, launch and then manage product lifecycles (changing rates and documentation, run promotions etc) without needing to know a single line of code.
Customers and brokers can self service all policy attributes. Users can amend at will with full audit trail and within a tight or moderate governance framework. This combination of ease of use and control and flexibility needed means customers and users work on their terms and in their timeframes.
The design philosophy enables people to operate with INSTANDA in ways older, less flexible technologies simply can’t match.
INSTANDA was designed with an online/ self-service interaction in mind. Creating an end to end experience that can be run as a STP model provides limitless scale/ reach and delivery at a marginal cost. As required in some insurer, coverholder, broker models or different markets, adding manual intervention steps along the way is easy and provides a healthy tension (ie gentle pull back) to a STP model.
The design team had previous experience of world’s largest and prevalent systems. For insurance the insights were clear, something very different was needed. Insurance at 10,000 feet seems simple – collect risk data, apply rules and price. However, regulatory & compliance needs, dramatically different risks appetites, how to present information requests…etc. all require flexibility. Rigid systems designed 10+ years ago simply can’t provide that. INSTANDA was by design aimed at business users, to provide them with total control and flexibility. No other core processing technology offers this.
Little time and simple or complex needs. Most incumbents recognise these are not well served online. INSTANDA provides a framework to create any kind of journey. Intuitive symbol driven broker/ agent portals for complex commercial combined products or 3 questions and pre populated risk details, via a mobile.
Any number of products can be offered to any number of channels/ market segments – all under the control of the business user. Whether direct to consumer or via agent/broker. Authority & delegated levels, commission levels, reporting across the broker network can be set, amended at will whether in a carrier/ wholesaler/ coverholder model or any variant thereof.