News Category: In the News

As the insurance industry continues its transition into the digital era, the role of CTO is becoming increasingly important. Legacy businesses now face a choice: face obsolescent, or integrate new digital tools into their day-to-day operations.

Boston and London – February 21, 2023  – Novidea, creator of the data-driven, cloud-native insurance platform that enables brokers, agents, and MGAs to reduce costs and drive growth across the distribution lifecycle, today announced the achievement of several significant growth milestones in 2022. In 2022, Novidea experienced 90% Year over Year (YoY) business growth, winning deals with top-tier customers from the ranks of the leading brokers and agencies in the world. The momentum indicates the increased demand for cloud-native core solutions that help insurance agencies, MGAs, and brokers digitally transform their businesses to get in front of the competition.

“We continue to see global insurance agents, brokers, MGAs, and MGUs accelerate their digital transformations to serve their policyholders better, navigate market disruptions, and empower their people,” said Roi Agababa, CEO of Novidea. “The ability to access real-time data is the key to transformation for these organizations — financial, operational, and customer data. The Novidea platform brings all of these data sources together in one place, giving our customers a single source of truth from which they can gain a deeper understanding of their business. In the coming years, Novidea is looking forward to providing even more value to our customers as they continue to transform their organizations.”

Other key 2022 milestones for the company include:

• Strong customer retention: Companies who work with Novidea tend to stay with them for the long term, which is reflected in Novidea’s 139% net customer retention rate.
• New offices to support employee hypergrowth: 2022 was a year of scale for Novidea, as it increased employee headcount in many sites worldwide. The company added dozens of employees to its headquarters, took new office space in The Gherkin in the heart of the insurance industry in London, and significantly bolstered its research and development (R&D) teams in Eastern Europe.
• Strengthened senior leadership team: Novidea made multiple strategic hires in 2022, including new CFO Eran Ben Ezer, formerly of Imperva; Chief Customer Officer Yaniv Cohen, formerly of Verint; and Merav Levin-Gadot, VP of Human Resources from Amdocs.
• Onboarding prominent global insurance players: Novidea closed deals with some of the industry’s biggest names. With the increase in new customers and employee headcount, the Novidea platform is now seamlessly managing more than 25 million insurance policies worldwide.
• Recognition as a leader from industry forums and organizations: During 2022, Novidea won accolades as:
  • Excellence in Technology for Insurance Distribution from Insurance Times
  • Outstanding Contribution to Technology & Innovation from the London Market Forum
  • Most Innovative Insurtech Company from both Insurtech100 and AIFintech100

Boston and London – January 24, 2023 – Novidea, creator of the data-driven, cloud-native insurance platform that enables brokers, agents, and MGAs to reduce costs and drive growth across the distribution lifecycle, has appointed Yaniv Cohen as Chief Customer Officer (CCO). With the company’s global scale-up, Cohen leads Novidea’s implementation and customer success strategy, ensuring smooth delivery of Novidea’s insurance management platform across the entire customer journey, from onboarding to contract renewal.

Cohen brings 20 years of experience in professional services, operations, and customer success to the position. He joins Novidea after spending six years as Corporate Vice President of Global Professional Services at Ex Libris, a SaaS and mobile solutions provider for the higher education market. Prior to Ex Libris, Yaniv spent over a decade at Verint Systems, a leading customer engagement platform. He held multiple senior roles at Verint, including COO, VP of Business Development, and VP of Customer Care. Yaniv also previously held executive positions at Emblaze Systems.

“With the fast growth of Novidea’s business and the increase in our customer base, Novidea prioritizes its commitment to working closely with our customers at every step of their digital transformation. Yaniv’s depth of experience in professional services and customer care was a key factor in choosing him for the role,” said Roi Agababa, CEO of Novidea. “As Novidea continues to grow, I am confident in Yaniv’s ability to refine and scale our delivery and implementation processes, so we can empower our global customers to transform and digitalize their businesses seamlessly.”

“It’s an honor to join this exceptional team and lead Novidea’s customer success initiatives on a global scale,” said Cohen. “I’ve already seen firsthand the company’s deep obligation to its international customer base—it influences every decision they make. I aim to ensure that each customer extracts maximum value from the Novidea platform, now and in the future.”