Insly, a provider of low-code software solutions tailored for the insurance sector, has solidified its commitment to the Australian market by joining the Underwriting Agencies Council (UAC). The company's representatives are scheduled to attend the UAC conference on February 7th, where they will engage with other members and present the capabilities of the Insly platform.
Founded in 2013 by Risto Rossar, Insly has been specifically designed to meet the demands of underwriting agencies (UAs) and insurers, enabling them to digitise and automate critical mid and back-office functions. These operations include distribution, policy administration, underwriting, claims processing, and finance management. With a workforce comprising 110 personnel across Europe, Insly boasts a diverse clientele that spans 52 countries worldwide.
The UAC, which advocates for the interests of Australian underwriting agencies, currently has 120 corporate members, representing a significant portion of the Australian insurance market. Insly’s membership as a Business Services provider grants the company strategic connections within the UA community, enhances its visibility, and fosters opportunities for establishing thought leadership and industry expertise.
Insly has already formed one partnership within the Australian market and is exploring several additional avenues for collaboration as it looks to expand its presence in 2025. The UAC Business Services membership will facilitate Insly's efforts to broaden its reach and assist more underwriting agencies in harnessing the advantages of automation, particularly through the integration of artificial intelligence (AI) technologies.
“Underwriting agencies play a vital role in the Australian insurance market, yet many are still operating with manual processes and inefficient legacy systems,” Risto Rossar, Founder and CEO of Insly, remarked in an interview with Fintech Finance. He added, “As the market matures, underwriting agencies are looking for technology tailored to their specific needs and with the flexibility to scale as they grow. For this reason, Australia is an important strategic market for Insly, and we look forward to meeting more UAs in the year ahead.”
This strategic move marks a significant milestone for Insly as it aims to leverage its expertise in automation and AI to meet the evolving needs of the underwriting sector in Australia.
Source: Noah Wire Services