This collaboration aims to harness INSTANDA’s state-of-the-art technology and Farmsure’s extensive expertise in agricultural risk management to deliver innovative and tailored insurance solutions for the farming community.
The partnership between INSTANDA and Farmsure comes at a pivotal moment as the agricultural sector grapples with increasingly intricate challenges, including the impacts of climate change, evolving regulatory landscapes, and market uncertainties driven by factors such as the rising cost of living.
These challenges directly influence supply and demand dynamics, necessitating adaptive, efficient, and customer-centric insurance offerings for farmers and agricultural businesses.
To address these challenges, Farmsure will leverage INSTANDA’s advanced digital insurance platform, streamlining their product development and distribution processes. INSTANDA’s no-code, cloud-based platform empowers Farmsure’s underwriters and product teams to rapidly design, build, and deploy new insurance products, placing customization directly into the hands of industry experts. The platform simplifies the quotation process for brokers, guiding them through risk assessment, adding endorsements, and facilitating individual case underwriting with ease.
Farmsure has successfully developed an innovative Farm Policy solution that comprehensively covers all aspects of farming, including liabilities, livestock, livestock disease, agricultural buildings, home contents, and more. INSTANDA’s modular no-code platform proves to be the ideal solution, allowing Farmsure to tailor insurance products quickly and easily.
The efficiencies gained through INSTANDA’s platform have empowered Farmsure to manage growth effectively without compromising on service quality. The company has already experienced substantial efficiency gains, enabling valuable underwriting resources to focus on risk assessment, pricing, and performance. This strategic partnership signifies a transformative step towards revolutionizing agricultural insurance solutions through cutting-edge technology.
Speaking about the partnership, 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.”
Andrew Bell, CEO at Farmsure also commented, saying: “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.”
He added: “That’s no mean feat.For us, INSTANDA was the perfect fit.”
Author: Joanna England
