Tim Hardcastle is Solving for Diversity in Insurance Product Design

Spartan philosophy, built in the black-ops lab of
business: https://www.findingpeak.com


Finding Peak podcast: https://linktr.ee/ryan_hanley





In this episode of The Ryan Hanley Show, Ryan Hanley sits down
with Tim Hardcastle.





Tim Hardcastle is CEO and co-founder of INSTANDA, a digital
insurance solution for the innovative insurance professional.





This is one of my favorite conversations on this podcast in a
long time…





The INSTANDA platform enables carriers and MGAs to create, build
and implement complex insurance products in weeks or months.
Capitalize on opportunities and be first to market while lowering
overall TCO. Seamlessly integrate with your ecosystem and
technology environment. 





Tim and Ryan dive deep into their entrepreneurial journeys as
well.





This is an episode you don't want to miss…





Episode Highlights:


Tim discusses what motivated him to launch INSTANDA.
(3:35)

Tim believes that a risk perspective is important in business
and that every successful entrepreneur must have the belief,
passion, and drive to do whatever it takes to get the business
going. (8:12)

Tim mentions that they launched INSTANDA in 2016 and that
they are currently in 13 countries, with 80 clients, and a large
workforce in the United States. (11:19)

Tim discusses what makes a real policy management system
different from the old agency management system that many people
are still utilizing. (26:04) 

Tim explains that INSTANDA provides end-to-end service,
including quotes, bind, service payment, and renewal, as well as
simple claims. (30:25)

Tim believes INSTANDA to be one of the few companies that
innovated with agility, adaptability, speed to market, and no
code narrative. (31:45)

Tim discusses his observations on the insurance industry and
the challenges it faces. (36:22)

Tim mentions that their vision is to work with every
Progressive insurer in the UK and US core markets.
(37:52)

Ryan discusses the distinction between growth agencies and
lifestyle agencies, as well as how they leverage technology.
(41:18)

Tim believes that they are not the solution for everything
and everyone right now, but they feel they can grow and give
value to any progressive company. (46:24)

Tim mentions that McKinsey Global Institute conducted a
survey on insurtech and financial services and discovered that
for every $1 of new revenue generated by new products, it is
worth double the enterprise value of an existing core product.
(49:15)






Key Quotes:


“Every successful founder has to have their belief, their
passion, their drive, to take the steps necessary to do
everything it takes to get the business going.” - Tim Hardcastle

“To be successful, you have to be fueled by a purpose in why
you’re doing it, that belief, and that comes from different
places, I have it, you have it…but it's about the essence of
human endeavor. And I love being in the industry, because you
meet so many people that are motivated and excited by jumping
that chasm, whether it's small or large.” - Tim Hardcastle

“We love really difficult challenges because as you've seen,
the technology is flexible you can genuinely mold it, meld it to
your needs.” - Tim Hardcastle






Resources Mentioned:


Tim Hardcastle LinkedIn

INSTANDA

Reach out to Ryan Hanley

Rogue Risk

Finding Peak



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https://unpluggedstudios.fm.

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