New appointment Wood will be responsible for growing and managing the Life and Health business at INSTANDA, which has seen rapid expansion in the last two years.
Most recently, Wood served as head of UK SME strategy, insight and propositions at Aviva, and joins at a time of changing demands within life and health insurance.
Since the arrival of former senior Swiss Re executive Trevor Davis as managing director of Life and Health in 2019, the segment has been working with clients to reduce the cost, and time, of bringing products to market, while leveraging the Internet of Things (IoT) and artificial intelligence (AI).
The Covid-19 pandemic has encouraged renewed focus on life and health insurance, but insurance carriers have faced pressure to adapt to the changing demands of brokers and consumers.
Frequent requirements have included more flexibility, better data integration from fitness devices, and tailored policies for individual needs.
Why the insurance industry is ready for a data revolution
“I’ve worked in the insurance industry for over 15 years,” said new Life and Health lead Wood. “But now more than ever, it is clear that the future of the industry depends on insurers’ adoption of world-class technology.
“At Aviva, I saw the potential of solutions like INSTANDA to increase efficiency and deliver cost-effective industry-leading products to customers.
“As head of Life and Health, my ambition is to oversee INSTANDA’s transition to the no.1 solution infrastructure for insurance businesses.”
INSTANDA managing director of Life and Health, Trevor Davis, commented: “The life and health insurance sector is at an inflection point right now. Characterised by rising claims for insurers and rising premiums for customers.
“The industry urgently needs a greater focus on efficiency, speed, and telematics which only technology can bring. So, we’re delighted to announce that Will is joining our team of ex-industry experts and IT professionals working to do just that.
“His knowledge of the market, combined with his network and contacts, will be invaluable for INSTANDA.”
