Instanda launches MGA startup service ‘without coding’
Cloud-based digital insurance platform Instanda has launched an MGA startup service, called IMGA, to provide the technical capabilities needed to manage and run a new MGA.
The service offers product distribution, submission management, policy management, renewals and first notice of loss processing. It does this with “end to end distribution, underwriting and operational management”, Instanda said, “from broker submissions, quote and bind, policy management, to invoicing and reporting dashboards”.
The platform’s CEO Tim Hardcastle said: “We enable insurance organisations to build, launch and manage in real time insurance products without coding. 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.”
He said that the IMGA service “enables fast set up and access to new markets, as well as streamlining operations by digitising processes from front to back”. The MGA startup is in control and can change product structures, add new features to gain market advantage with no extra cost, Hardcastle said.
“Speed to market, upfront investments in time and cost, and a fear of over promised and under delivered technology solutions are often seen as the main barriers to entry for small underwriting teams.
“IMGA is a game-changing platform that will allay these fears, underpinned by our track record of global delivery with over 50 clients. We want you to benefit from great value, speed and ease of use to help make your MGA business more successful.”
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