ITC DIA Europe

Insly: everything to run an underwriting company out of the box  

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Apr 21, 2022

Back-and-forth e-mails from brokers, double-keying risk, policy-and price information, navigating between spreadsheets to calculate premiums: all of this is a common part of a commercial underwriter’s daily routine and their quote and bind process. 

A manual underwriting workflow absorbs a lot of time and has a higher risk of errors, since each stage of the quote and bind process depends on human intervention. Underwriting doesn’t necessarily have to be this complicated, nor should it require underwriters to step in for each and every case. 

Insly is a unique no/low-code platform that helps MGAs and Insurance companies with the full-cycle of an underwriting business. This includes insurance product building, underwriting, distribution, claims and accounts and reporting. The platform is product- and market agnostic with a slight focus towards commercial lines and broker distribution. 

How it works 

Insly has a low-code modular approach that covers the entire underwriting company lifecycle: (1) product launch & distribution; (2) premium accounting and full business reports (3) claims (upcoming).  

With this platform, brokers can log into the software, calculate prices and issue policies. And as an insurer or broker, you have an online dashboard covering all data, you can see all transactions and make any required change in an easy-to-use interface.  

Insly’s platform is currently being used by 30 MGAs and insurers in the UK, Canada, US, Scandinavia, Germany, Austria, Poland, Estonia and New Zealand among others. 

Why did we invite Insly for DIA Amsterdam 2022? 

In Amsterdam Hammad Mirza, Global Head of Growth and Marketing at Insly, and Kestutis Naureckas, Chief Product Officer at Insly, will be on stage explaining how to setup and launch an insurance product using low code, how to distribute a product, set up document templates, and how to integrate accounting, reporting and rating engines.  

And as an exclusive offering for DIA attendees Insly will off a FREE Setup of the first insurance product, excluding bespoke integration work (any configuration work that falls within Insly out of the box functionality). Bespoke functionality requirements such as integrations to product/risk specific 3rd party services are billable within the terms agreed in the Software Licence Agreement. 

Who is Insly 

Insly was founded in 2014 by the team that  previously created the successful insurance broker group IIZI. Its founder and CEO Risto Rossar is an insurance innovator and investor:  he has been in the insurance business for 20 years, worked in insurance companies as well as established 5 insurtech startups. 

The company has a team of 95 people, based in Tallinn, London, Vilnius and Warsaw, serving clients from all continents. Key investors and partners include, among others, Concentric, Uniqa Ventures and the London Co-Investment fund. 

The Insly team

“Mass adoption of technology in insurance will happen when Underwriters and Product Managers can build a product without coding”

Risto Rossar, CEO at Insly 

As always you can learn more about Insly here!

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