Life and health insurance sector at an inflection point: Instanda MD Davis
UK-based insurtech Instanda, a cloud-based digital insurance platform, has hired Will Wood, previously head of UK SME strategy at Aviva, to lead the expansion of its life and health business that it says is currently at an "inflection point".
Wood joins Instanda as head of life and health after 15 years at Aviva.
The insurtech noted that the pandemic has brought a renewed focus on life and health sector and represents an opportunity for insurers. But carriers have faced pressure to adapt to the changing demands of brokers and consumers.
“I’ve worked in the insurance industry for over 15 years. But now more than ever it is clear that the future of the industry depends on insurers’ adoption of world-class technology," said Wood.
"At Aviva I saw the potential of solutions like Instanda to increase efficiency and deliver cost-effective industry-leading products to customers. As Head of Life and Health, my ambition is to oversee Instanda’s transition to the no.1 solution infrastructure for insurance businesses.”
Trevor Davis, managing director of life and health, added: “The life and health insurance sector is at an inflection point right now. Characterised by rising claims for insurers and rising premiums for customers. The industry urgently needs a greater focus on efficiency, speed, and telematics which only technology can bring.
"We’re delighted to announce that Will is joining our team of ex-industry experts and IT professionals working to do just that. His knowledge of the market, combined with his network and contacts, will be invaluable for Instanda.”
