Castel partners with UK-based insurtech Instanda

Managing general agent (MGA) formation platform  Castel is launching a new digital insurance product for brokers in partnership with UK-based insurtech  Instanda.

Square Pegs, an electronic trading platform tailor-made for Castel Underwriting Agencies’ broker partners, has utilised Instanda's innovative technology to bring the product to market quicker and at lower cost than other traditional approaches.

The Square Pegs Portal provides a secure and easy-to-use environment to transact a broad range of insurance covers for a hugely diverse spectrum of clients. It is also flexible, allowing brokers to place new business and to amend or renew existing policies.

The new offering ‘Square Pegs Full Business’ will provide additional insurance coverage which creates further revenue opportunities. It will allow brokers to more easily source quotes whilst with their clients, in real time, which is a significant cost and time saving for all parties in the chain.

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