The work between INSTANDA and Farmsure will bring the former’s technology and the latter’s expertise in agricultural risk management together to form innovative and tailored insurance solutions for the farming community.
INSTANDA’s no-code, cloud-based platform allows Farmsure’s underwriters and product teams to design, build, and release insurance products rapidly and puts customisation into the hands of industry experts.
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In addition, the quotation process is simplified for brokers and they are guided through risk assessment, adding endorsements, and enabling individual case underwriting.
Furthermore, Farmsure has successfully developed a Farm Policy solution that comprehensively covers all aspects of farming, including liabilities, livestock, livestock disease, agricultural buildings, home contents, and more. To achieve this level of coverage, INSTANDA empowers Farmsure to tailor insurance products quickly and easily.
The efficiencies gained through the platform have empowered Farmsure to manage growth effectively without compromising on service quality. Also, the firm has already witnessed substantial efficiency gains from the new platform, allowing valuable underwriting resources to focus on risk assessment, pricing, and performance.
Tim Hardcastle, CEO & co-founder of INSTANDA, said: “Farmsure’s longstanding experience in the agricultural insurance domain, combined with INSTANDA’s digital capabilities, means the complex needs of individual farmers and agribusinesses can now be better met. This is something we’re extremely proud of. The partnership will help transform the sector – allowing greater innovation and enhancing risk management – ultimately helping to safeguard farming operations for the future.”
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By GlobalDataAndrew Bell, CEO at Farmsure commented: “The farming sector is undergoing rapid change, and the market is transitioning. We needed a partner that could provide us with the technology to respond to the ever changing and complex needs of our policyholders, and at speed. That’s no mean feat. For us, INSTANDA was the perfect fit.”
