MINNEAPOLIS, MN, OCTOBER 2021: A new collaboration between INSTANDA and Confianza will permit insurers to better understand and underwrite risks. By integrating the powerful matching algorithm and risk profiling capability Confianza feeds into INSTANDA’s agile platform, carriers and MGAs will learn more about their customer and more accurately predict and price risks.
The partnership aims to provide a solution to multiple challenges the insurance industry faces when it comes to data integration. With limited vendors supplying data information, an over reliance on legacy systems, and a lack of connection between policy and claims data, companies face delays in the underwriting process. Now, more than ever, the industry needs an agile, responsive solution.
The addition of Confianza functionalities to the INSTANDA platform will do just this, allowing insurers to configure new products quickly and flexibly for clients with newfound, deeper knowledge on specific customer needs and confidence in the accuracy of their data. Confianza runs on a single API for all data needs and contains an integration platform for other third-party data.
Debbie Wilson, Chief Operating Officer for North America at INSTANDA, believes strongly in the solution offered by the partnership. “It is clear that automation through reliable data and systems will be a key factor in the future of a successful insurance industry,” she says. “By partnering with Confianza, we are confident that INSTANDA customers will benefit from both the agility and speed of our platform, and the comprehensive data Confianza offers to improve the user experience.”
John Petricelli, Vice President for Product at Confianza, looks forward to a positive collaboration. “We are excited about our partnership with INSTANDA,” he says, “and align with their approach to the marketplace, offering high flexibility to rapidly configure and launch new products, quickly and effectively address market needs, and help streamline your business, while giving their agents and clients the edge.”
The value of the collaboration is also felt by Greg Murphy, Vice President for North America at INSTANDA. “A core value of INSTANDA’s is to simplify the often unnecessarily difficult process of digital insurance management,” he says. “We are pleased that Confianza shares this goal and look forward to empowering more and more insurers to adapt to the ever-changing needs of today’s customer by offering new, emerging data.”
About Confianza Inc.
Confianza serves the needs of insurance carriers and professionals throughout the country, with a consolidated information repository of more than 270 million individuals, 170 million households and 50 million businesses encompassing more than 2,700 attributes. The comprehensive data is supplemented with AI Machine learning, Prescriptive Analytics, and Point of Sale Risk Profiles for targeted Risk Selection, lead scoring and application/quote prefill. For more information about Confianza, visit www.confianzaus.com.
Insurance is complex, but it does not have to be difficult. INSTANDA offers carriers and MGAs the possibility to break away from traditional ‘systems heavy’ product introductions. By rewriting the narrative on how to build, implement, and service products, INSTANDA’s Software-as-a-Service based digital insurance management platform is empowering insurers to thrive in a new generation of insurance. By putting control in the hands of insurers, creating customized products with speed and ease can now become the norm.
Headquartered in the UK, with offices across North America, Asia Pacific, and Latin America, INSTANDA has helped over 60 clients create over 2,800 insurance products across 13 countries. Join the INSTANDA movement and visit https://instanda.com/us/ for more information.
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