About 10 weeks from initial contact to commencing underwriting, is the promise of digital insurance platform INSTANDA’s new managing general agent start-up service IMGA.
Designed to provide end-to-end distribution, underwriting, and operational management, IMGA offers the technical capabilities needed to run a new MGA. According to disruptor INSTANDA, its MGA start-up service centres on speed and efficiency.
“We enable insurance organisations to build, launch, and manage in real time insurance products without coding,” explained INSTANDA chief executive Tim Hardcastle (pictured). “The MGA sector’s relevance and importance to the insurance market continues to grow, so extending our capabilities to this audience is a natural next step.
“IMGA enables fast set-up and access to new markets, as well as streamlining operations by digitising processes from front to back; you are in control, changing product structures, adding new features to gain market advantage, all at no additional cost.”
INSTANDA, which is known for its cloud-based insurance ecosystem, has main offices in London and Cambridge in the UK and in Hartford, Connecticut.