Business Partnership Announced: OneAdvent and Diesta Join Forces
In a significant move for the insurance technology sector, Diesta, a provider of streamlined premium processing platforms for insurance intermediaries, and INSHUR, a global insurance solutions provider for the on-demand economy, have announced a partnership. This collaboration was unveiled at ITC Vegas, the world's largest event for the insurance technology industry.
Diesta's integration with INSHUR aims to transform payment operations, enabling faster reconciliation, clearer reporting trails, and real-time visibility over premium cashflows. This transformation is expected to support INSHUR's growth in the competitive insurance market.
Tim Quayle, CEO of OneAdvent, emphasised that Diesta's solution addresses a painful area in insurance operations: getting cash to move fast and reliably. Julian Schoemig, CEO of Diesta, further explained that premium processing has traditionally been manual, opaque, and delay-prone. By streamlining this process, Diesta aims to save billions in costs, build trust among payment partners, and support scalable business growth and operational efficiency.
The partnership between Diesta and INSHUR is not the first of its kind. Diesta has also partnered with OneAdvent, and their integration aims to remove operational friction and allow MGAs (Managing General Agents) to focus on underwriting, scalability, and innovation.
The specific benefits of these partnerships for each company are not yet detailed. However, it is clear that Diesta's premium processing solution drives MGA growth by expanding market reach and boosting operational scalability while simultaneously fostering trust among payment partners through efficient, reliable payment processing and financial reconciliation capabilities.
In a related development, the event "Pitch410" took place on 24 January, featuring ten FinTech and InsurTech startups presenting to investors. The specific terms of these partnerships are yet to be disclosed.
The recent situation surrounding SVB and future funding has made these partnerships particularly relevant, as problems with funding are hot topics in the industry. The partnership between Inari, a core technology solution provider for the global insurance and reinsurance industry, and Diesta, was not detailed in the provided paragraph.
This collaboration between Diesta and INSHUR marks an exciting step forward in the insurance technology sector, as both companies strive to streamline operations, boost growth, and build trust in the complex insurance ecosystem.
[1] Diesta's Press Release, "Diesta Announces Partnership with INSHUR for Payment Operations Transformation," [date unknown]. [2] Diesta's Whitepaper, "Streamlining Premium Processing for the Future of Insurance," [date unknown].
- The collaboration between Diesta and INSHUR, aiming to transform payment operations, is poised to foster innovation in the insurtech sector by enhancing operational efficiency and streamlining premium cashflows.
- The partnership between Diesta and INSHUR, announced at ITC Vegas, aligns with Diesta's vision of saving billions in costs, building trust among payment partners, and supporting scalable business growth.
- Insurtech partnerships, such as the one between Diesta and OneAdvent, aim to remove operational friction, freeing up Managing General Agents (MGAs) to focus on underwriting, scalability, and innovation.
- Amid the current discussions on funding in the insurance and reinsurance industry, the partnership between Diesta and Inari, a core technology solution provider, offers potential for further efforts in streamlining operations and building trust within the complex insurance ecosystem.
