London, 14 November 2023 - INSTANDA, a leading global provider of no-code insurance platform technology, and Farmsure Underwriters Ltd, a prominent agricultural insurance specialist, today announce their strategic partnership. The collaboration will bring together INSTANDA's cutting-edge technology and Farmsure's deep expertise in agricultural risk management to deliver innovative and tailored insurance solutions for the farming community.
The partnership between INSTANDA and Farmsure comes at a crucial time when the agricultural sector faces increasingly complex challenges, including the impact of climate change, evolving regulatory landscapes, and market uncertainties driven by factors such as the rising cost of living, which directly impact supply and demand dynamics. To address these issues, farmers and agricultural businesses require adaptive, efficient, and customer-centric insurance offerings. Through this joint effort, Farmsure will leverage INSTANDA's advanced digital insurance platform, empowering them to streamline their product development and distribution processes.
INSTANDA's no-code, cloud-based platform enables Farmsure's underwriters and product teams to design, build, and deploy new insurance products rapidly, putting the power of customisation directly into the hands of the industry experts. The platform simplifies the quotation process for brokers, guiding them through risk assessment, adding endorsements, and enabling individual case underwriting with ease.
Farmsure has successfully developed an innovative Farm Policy solution that comprehensively covers all aspects of farming, including liabilities, livestock, livestock disease, agricultural buildings, home contents, and more. To achieve this level of coverage, INSTANDA's modular no-code platform emerged as the ideal solution, empowering Farmsure to tailor insurance products quickly and easily.
The efficiencies gained through INSTANDA's platform have empowered Farmsure to manage growth effectively without compromising on service quality. The company has already witnessed substantial efficiency gains from the new platform, allowing valuable underwriting resources to focus on risk assessment, pricing, and performance.
Commenting on the partnership, Tim Hardcastle, CEO & Co-Founder of INSTANDA, said: “Farmsure's longstanding experience in the agricultural insurance domain, combined with INSTANDA's digital capabilities, means the complex needs of individual farmers and agribusinesses can now be better met. This is something we’re extremely proud of. The partnership will help transform the sector – allowing greater innovation and enhancing risk management – ultimately helping to safeguard farming operations for the future.”
Andrew Bell, CEO at Farmsure commented: "The farming sector is undergoing rapid change, and the market is transitioning. We needed a partner that could provide us with the technology to respond to the ever changing and complex needs of our policyholders, and at speed. That's no mean feat. For us, INSTANDA was the perfect fit."
INSTANDA is a global leader in the provision of SaaS platform technology for life insurance distribution and policy administration. The company provides a no-code platform that enables insurers to build, launch, and manage insurance products at speed, with the agility and flexibility required to meet the needs of the modern consumer.
About Farmsure Underwriters Ltd:
Farmsure is a trusted agricultural insurance specialist that has been providing comprehensive risk management solutions for farmers and agribusinesses for almost 35 years. Their in-depth knowledge of the agricultural industry allows them to craft insurance policies that safeguard clients against a wide range of risks while fostering sustainable practices within the sector.
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