Instanda
UnclaimedEmpowering insurers and MGAs to rapidly innovate and scale with a no-code policy administration and distribution platform.
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TL;DR - Instanda
- No-code platform for rapid insurance product development and deployment.
- Embeds AI and hyper-automation for operational efficiency and enhanced customer experience.
- Enables insurers to scale globally and manage complex products with agility.
Pricing: Paid only
Best for: Enterprises & pros
Pros & Cons
Pros
- Significantly accelerates product development lifecycles
- Reduces technology-related operational costs and Total Cost of Ownership (TCO)
- Empowers business teams to manage product design without IT dependency
- Enables rapid scaling and expansion into new markets and territories
- Enhances customer experience through personalized journeys and real-time policy updates
Cons
- Specific ROI and cost savings percentages are not explicitly detailed with numbers, only as '0%' placeholders
- Requires integration into existing systems, which may involve initial setup effort
- The platform's full capabilities might require a learning curve for business users new to no-code environments
Key Features
No-code design studio for product creation and refinementEmbedded AI for operational friction reduction and decision supportHyper-automation for digital self-service and high-touch interactionsMulti-dimensional rate tables and configurable rulesAutomatic risk qualification and referral rulesWYSIWYG, schedulable, no-code document templatesDynamic email templates and e-deliveryAPI-first platform for seamless integration with existing architecture
Pricing
Paid
Instanda offers paid plans. Visit their website for current pricing details.
About Instanda
By Toolradar Team·
INSTANDA is a leading intelligent policy administration and distribution system designed for insurance carriers and Managing General Agents (MGAs). It enables rapid product development, deployment, and refinement through a no-code design studio, significantly reducing time-to-market from months to weeks. The platform supports all levels of insurance product complexity across various lines of business, including admitted, non-admitted, personal, commercial, and specialty lines.
The platform integrates hyper-automation and embedded AI to streamline operations, enhance customer experiences, and improve risk evaluation. It empowers business teams to own the product design and distribution lifecycle, reducing dependency on IT and freeing up resources for high-value projects. INSTANDA facilitates seamless scaling across channels, regions, and states while ensuring compliance with local regulations, making it ideal for insurers looking to expand their footprint and introduce new products quickly.
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Instanda FAQ
How does INSTANDA's no-code design studio specifically empower business teams to manage product lifecycles without relying on IT?
The no-code design studio provides an intuitive interface where business users can directly configure product rules, rates, documents, and workflows. This eliminates the need for coding or developer intervention for product design, distribution, and adjustments, allowing business teams to iterate and launch products independently.
Can INSTANDA handle the specific rating bureau requirements for US insurers, such as ISO, AAIS, MSO, and NCCI?
Yes, INSTANDA is bureau agnostic and supports a wide range of rating mechanisms, including those from ISO, AAIS, MSO, and NCCI, in addition to accommodating homegrown rates. It also features multi-dimensional rate tables and API-call-out rating steps for comprehensive rate management.
What kind of AI capabilities are embedded within the INSTANDA platform, and how do they specifically benefit insurers?
INSTANDA embeds AI to reduce operational friction, anticipate customer needs, support accurate decisions, and unlock critical insights. This includes AI-driven automation for tasks, intelligent risk evaluation through deeper data insights, and adaptive testing to stay ahead of market changes and regulations.
How does INSTANDA ensure compliance with local regulations when scaling products across multiple regions and countries?
The platform is designed to allow seamless scaling across channels, regions, and states using configurable components while ensuring compliance with local regulations. It enables insurers to replicate products and processes while adapting to specific jurisdictional requirements, as demonstrated by examples of insurers expanding into numerous countries.
Beyond product creation, what specific aspects of policy administration does INSTANDA streamline for a customer-first approach?
INSTANDA simplifies the entire policy administration lifecycle, including quoting, policy management, renewals, and self-service. It aims to boost quote-to-bind times and improve underwriting efficiency by automating time-intensive tasks and providing underwriters with deeper data insights for risk evaluation.
Source: instanda.com