ACP believes Instanda is one of the most exciting insurtech firms in the world. Instanda operates a PaaS model. Its software platform (which is native to the Cloud) allows clients to create and distribute insurance products at typically 5-10% of the cost of incumbent insurance software systems and with much-reduced time to market. The firm was founded in 2012 by Tim Hardcastle (CEO) and Derek Hill. Tim is a former CIO of the major insurance firm, Hiscox.
The insurance industry has shown a marked appetite for what the Instanda platform delivers – i.e. substantive cost savings and strategically important levels of agility as well as reduced operational risks. Some of the largest insurers in the world across the UK, Europe and the Americas are now clients with virtually no churn.
Recent breakthroughs include: winning contracts as a default issuance platform rather than for innovation one product at a time; a first contract win in Life & Health with a major carrier; and, increasing levels of book transfers.
Both Michael and David are Angel investors. Michael joined the Board even before he led the first Angel round of funding. We consider that Instanda’s huge potential is a function of its relevance across the insurance product spectrum (P&C, Life, Health) and across the range of insurance models (working with carriers and MGAs today and with brokers within 12-24m). ACP is delighted to support Instanda as it scales globally.
Last updated: March 2020
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