INSTANDA, a no-code core insurance platform provider, has raised 拢37 million of funding.
The funds will be used to grow the London company鈥檚 geographical presence in Europe, US, Japan and the UAE, as well as to rapidly augment platform capabilities including developing the existing ecosystem into a future-proofed marketplace.聽
It says the move will further cement its position as the insurance industry鈥檚 most adaptive, fast, best value end-to-end platform for carriers, brokers and MGAs.
The fundraising was led by Toscafund with the participation of existing investor Dale Ventures.
INSTANDA digitises the complex insurance value chain, allowing business users to innovate, manage and distribute insurance products across all lines within P&C (property and casualty) and Life & Health.聽
Insurers can deploy and orchestrate their product portfolios locally and globally within days and weeks, 10 times faster than the industry norm.聽
INSTANDA says the combination of 鈥榥o code鈥� freedom with pre-built product libraries provides unmatched advantages to help grow clients鈥� competitive advantage and market share.
鈥淚NSTANDA鈥檚 no-code insurance core platform was built by insurers for insurers based on the belief that technology should be used to accelerate change and innovation at low cost,鈥� said CEO and co-founder Tim Hardcastle.
鈥淭his is what sets INSTANDA apart from the crowd. No other platform allows carriers and MGAs across all lines of insurance to fully embrace the diversity of insurance and respond to the anticipated change in consumer needs and behaviour.鈥�
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