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Castel Partners With Insurtech INSTANDA to Help Its Broker Partners
The Square Pegs Portal is an electronic trading platform tailor-made for Castel’s broker partners, focusing on clients who are typically underserved. It provides a secure and easy-to-use environment to transact a broad range of insurance covers for a hugely diverse spectrum of clients. It is also flexible, allowing brokers to place new business and to amend or renew existing policies.
With INSTANDA’s expertise, Square Pegs launched their first product in 2019. Their new offering ‘Square Pegs Full Business’, however, provides additional insurance coverage which creates further revenue opportunities. It allows Square Pegs’ brokers to more easily source quotes whilst with their clients. All of this can happen in real time, which is a significant cost and time saving for all parties in the chain.
As with any start-up, time to market and costs are a big factor and INSTANDA has allowed Castel Square Pegs to build and launch a digital insurance product quicker and at lower cost than other traditional approaches.
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