Insurance Times Awards 2022: Novidea is achieving ‘great traction in the market’

Why did you want to enter the Excellence in Technology - Distribution category specifically?

In today’s fast changing and technology driven world, people want 24/7/365 service. Insurance, traditionally, has failed to keep up with this pace of change, leaving customers dissatisfied and the market failing to maximise its profitability.

This category perfectly highlights these challenges and the need for change - change that Novidea is bringing to the market, with over 100 insurance customers in 22 countries.

What do you think makes your entry stand out or different from your competition?

Novidea is the only data driven, cloud-first insurance management platform that is tailor-made for the UK and London market, including insurance brokers and MGAs.

Our end-to-end platform enables our customers to drive efficiency and growth, as well as enhance profitability.

Providing a 360-degree view of a customer’s business, our platform delivers seamless integration, automation and analytics across their:

• Front office - for improved customer intelligence.
• Middle office - for submissions, document management, etc.
• Back office - for policy management and business optimisation.

Our customer, Howden Group, is the perfect example of the benefits we deliver. It has experienced improvements in cross-sell (+40%), renewals (+30%), faster broker onboarding (+75%), policy sales (+63%), back office efficiency (+60%), claims capacity (+24%) and data accuracy (+25%) since using our platform.

What would winning this award mean to you and your firm?

We are achieving great traction in the market, so to have this independently recognised by Insurance Times and its esteemed panel of judges would make us very proud.