We had the opportunity to meet Kathryn Ellis, Head of Communications at distriBind, to have an insightful conversation as to the benefits in which distriBind brings to the insurance industry. distriBind is a digital data exchange, which focuses on simplifying the insurance process for their clients.

“distriBind is curing the insurance industry of its spreadsheet addiction. We are delivering an automated back office solution that is designed to simplify and enhance the insurance journey.”

distriBind does not only ingest data, but is also able to provide their clients with insights based on the data, and will export the data to wherever it needs to be, ensuring a seamless process.

“What really makes us stand out from other suppliers is that we are completely data standard agnostic. We don’t think that there should be a standardised data format. We believe that your data should be however you need it.”

“It was solidified that our solution was needed and still is needed, and it is fixing a systemic problem within the industry.”

Kathryn informs us that over 95% of risk premium and claim data is currently reported by spreadsheets, and that 30% of processing costs result from poor manual processes. distriBind is actively working to fix this issue within the industry.

At the present time and for the future, distriBind is focusing on providing quality service for what their users really need, ensuring that their clients feel fulfilled and satisfactory with the service provided to them. This approach allows for the platform to be much more friendly in the market.