The product signals continued global expansion of Instanda to drive digital transformation of global insurance industry
UK-headquartered Digital insurance platform Instanda has launched its first African commercial cyber insurance product on its platform.
Instanda worked with Standard Bank Insurance on the product launch. The insurance firm started working on the product after one week of training and brought the product into market in under six months.
The product launch is part of Instanda’s worldwide expansion to drive digital transformation of global insurance industry.
Earlier this year, Instanda announced its $19.5m Series A funding round and a series of European partnerships.
Instanda CEO & Founder Tim Hardcastle said: “Not only are we excited to be launching into yet another region this year, we are ecstatic that it is with a leading financial services firm and provider of bancassurance, focused on wealth management and financial wellbeing.
“Their ambitions from pursuing new markets at scale needed a technology partner who was able to provide a tailored solution to their needs. It is another significant step forward as we continue on our journey to bring agility and digital transformation to the insurance industry globally.”
Standard Bank Insurance selected Instanda’s no code, cloud-based platform to enable better agility
Instanda operates in 13 countries and with more than 60 clients across all insurance lines and distribution channels.
Standard Bank provides banking and financial services to individuals, businesses, institutions and corporations in Africa and abroad.
Instanda’s no code, cloud-based platform has been selected by Standard Bank Insurance for better agility and autonomy in product management and digital distribution channels.
In August 2020, Instanda partnered with Capco, a global management and technology consultancy, to accelerate digital transformation in the insurance industry.