A brand new insurtech today announces the launch of its services to the UK insurance industry. Insurian offers a product design, build and management solution that is completely segregated from internal transformation programmes including IT and administration, making it a low-risk and cost-effective route to insurance innovation.
Founder and CEO Daniel Pender says: “Every insurance provider wants to build great insurance products that meet the ever-changing needs of their customers, but innovation can be difficult, slow and expensive to achieve. Insurers, brokers and mutuals each have their own respective challenges in delivering something new to market, whether it’s technology, resource or budget.
“We unblock all those internal obstacles by taking on the design, build, launch and management of new insurance products in just weeks, enabling insurance providers to turbo-charge the speed of their innovation and expand the breadth of their proposition. By partnering with Insurian, they can deliver and learn at insurtech speed.”
The Insurian platform is underpinned by Genasys, the leading insurance operating system in the market today. Insurian anticipates the build phase through to launch of any new product for its clients to take less than three months.
Genasys chief growth officer André Symes says: “Dan is a passionate believer in the good that insurance can do but has been at the sharp end of experiencing how long it can take for a provider to get something new and different out to market. The Genasys-powered Insurian platform is designed to take the tech headache away, remove the need to tackle any legacy challenge and get a new product launched on time and on budget. We’re delighted to be part of this innovative solution.”
Insurian will partner with SS&C to provide an outsourced administration service for the new insurance products delivered by Insurian on behalf of its clients. SS&C is a global provider of services and software for the financial services and healthcare industries. Some 18,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Nick Wright, CEO of SS&C Global Investor and Distribution Solutions, adds: “We are pleased to partner with Insurian and its clients to deliver new product innovation for the insurance industry. We aim to provide technology, services and support to simplify the lives of financial services organizations, and we are delighted to partner with Dan and his team to bring value to this growing sector.”