News Category: Press Releases

21 March 2023 – Boston, US, and London, UK – Novidea today announces that it has been chosen by Jamaica-based insurance broker Allied Insurance Brokers Ltd. (AIB) to implement its born-in-the-cloud, data-driven insurance management platform for Managing General Agents (MGAs).

The platform will fully automate AIB’s end-to-end Coverholder processes from Jamaica to the London Market, while satisfying all data capture, exchange, processing, compliance, and reporting requirements. This will increase efficiency and productivity for AIB, while lowering overheads and providing analytics and reporting to help fuel the company’s growth across the Caribbean as a Lloyd’s Coverholder.

AIB became an authorised Lloyd’s Coverholder in 2013. That part of the business recently rebranded to A+ Insurance Solutions and provides General Liability, Medical Malpractice, and Personal Accident, including reinsurance coverage on behalf of Lloyd’s syndicates to clients in Jamaica, Antigua, Bahamas, Barbados, Grenada, St. Lucia, Turks and Caicos, and other territories within the Caribbean. They also provide solutions for Directors & Officers Liability, Professional Indemnity, Cyber insurance, and other classes of insurance that are not typically sold by local market insurers.

Camile Coore, Technical Manager, AIB, shared: “We are excited about this new partnership and the efficiency and growth potential it will bring to A+ Insurance Solutions. The team will have access to prebuilt reporting and insurance analytics tools that will enhance the visibility of our business and customers.

“Additionally, we will be able to focus on value-added tasks instead of utilising a significant portion of our time in cumbersome manual processes, such as data verification and validation.”

Ben Potts, Managing Director, UK, Novidea, said: “We’re delighted to be selected by AIB and look forward to working in partnership to implement our platform to support their London Market needs and global operations, and to streamline business processes.

With more than 100 customers in 22 countries, Novidea, the creator and provider of the only born-on-the-cloud, data-driven insurance platform, built on Salesforce, is truly global. Its platform enables brokers, agents, and MGA Coverholders to manage the customer insurance journey, end-to-end, and drive growth across the entire insurance distribution lifecycle.

7^th March 2023 – London, UK – 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 announces that it has partnered with the Further Group (Further), a leading global specialist in the design and development of health insurance products and service solutions, to implement its born-in-the-cloud, end-to-end data-driven insurance management platform.

Founded in 2012 and headquartered in Madrid, Further has successfully established itself as a leading, high growth company in its specialty healthcare area, with business in over 30 countries and partnerships with more than 300 insurers and employer groups.

Historically, the business operated using a number of IT systems with limited integration across the platforms. To pave the way for its ambitious growth strategy, Further turned to Novidea to integrate its business processes on one data-driven platform, to drive greater operational efficiency, improve communication, and provide a single source of truth for stakeholders.

Tatiana Macías, Chief of Staff, Further, said: “To grow to the next level, it is imperative we have the right technology and systems in place that can manage the complexities of our business. We chose Novidea because of their exceptional expertise in delivering global solutions within the insurance industry, as well as for their platform’s outstanding end-to-end capabilities, built on Salesforce.”

Ben Potts, MD, UK, Novidea, said: “We see many insurance organisations encumbered by disparate legacy systems that limit their potential. Today, forward-looking businesses like Further are increasingly utilising cloud-based platforms that enable them to turn data into insights at the point of need, enabling better-informed decisions, greater operational efficiencies, and enhanced client service.

“Novidea’s platform will contribute to the futureproofing of their business and enable them to accelerate their international growth strategy, with what they need to stay competitive, customer-focused, and agile.”

Boston and London – January 31, 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 appointment of Eran Ben Ezer as Chief Financial Officer (CFO). Ben Ezer brings 20 years of financial management expertise to the role as Novidea augments its senior executive team to prepare for its next stage of global growth.

Ben Ezer has a successful track record  in taking fast-growth companies from privately held to thriving global public companies. He has extensive experience in fundraising, Initial Public Offerings, (IPOs), and M&A transactions. As CFO, Ben Ezer will lead Novidea’s financial activities, including accounting and controllership, financial planning and analysis, taxes, and overall budgets across all territories. He will also lead audit, legal, procurement, and logistics across the company and its subsidiaries globally.

“We are excited to have Eran join Novidea.  He brings a strong track record of working with companies to drive results and accelerate growth and will complement our strong leadership team. His extensive background and expertise makes him the right choice to lead our finance organization globally,” said Roi Agababa, CEO of Novidea.

Before joining Novidea, Ben Ezer served as the vice president of finance at Drivenets, a fast-growing software company. He led three financing rounds totalling more than $500 million during his tenure, with the last round at a valuation above $3 billion. Before Drivenets, Eran spent a decade as a financial executive at Imperva (NASDAQ: IMPV), a leading global cyber security company, where he held several roles and supported the company through its IPO.

“I was drawn to Novidea because of the opportunity to play a significant role in supporting its continued hypergrowth,” said Eran Ben Ezer. “I look forward to working side-by-side with this impressive executive team as we expand into new global markets and focus on our next financial milestones.”

27 July 2022 – London, UK – Novidea, the global InsurTech and creator of the data-driven, cloud-native insurance platform that enables brokers, agents, and MGAs to reduce costs and drive growth across the entire distribution lifecycle, announces the new addition of Peter Gregory as Sales Manager.

Peter is a respected specialist in new business development, marketing, sales process, and account management. Previously, Peter spent 22 years working for SSP Worldwide, where he held various roles in Sales and Marketing, before becoming the firm’s Director of Broking. Before this, he was Call Centre Manager and Branch Manager at Colonnade Insurance Brokers, and at Hill House Hammond Insurance Brokers in a variety of roles.

Commenting on the appointment, Ben Potts, UK MD of Novidea, said: “Novidea is scaling up fast to support brokers, carriers, and MGAs as they look for the best solutions to implement their digitalisation strategies. The market is becoming increasingly aware of how Novidea’s technology enables greater efficiency and growth, especially as hybrid working accelerates the need to be able to work from anywhere, anytime in a cloud-based environment. 

“Demand is high, which is why we are bringing the best talent on board. With his broad experience in the insurance technology sector, Peter will be a valuable addition to our team by helping to expand our UK broker customer base and drive further implementation of the Novidea platform.” 

The appointment follows a series of others at Novidea, including Adam Glasby, formerly of Lloyd’s underwriter Beazley, Paul Richmond, previously at broker Price Forbes, and insurance IT firm DXC, Tom McFarland, formerly of AON and Sequel, Jamie McDonnell, formerly of Marsh and Cytora, and Lesley Townsend, formerly of Miller.

Peter also commented on his appointment, saying: “Novidea’s solutions are truly next generation, providing a 360-degree view of the business and driving efficiencies across every aspect of the insurance journey. I am very excited and proud to be a part of such a dynamic team at the cutting edge of a new digital era for the insurance market.” 

Novidea’s insurance platform is built on Salesforce and was created specifically for the global insurance market, including brokers, MGAs, and carriers. The Novidea platform covers the entire insurance life cycle. Workflow driven, the Novidea platform automates and streamlines processes to gain operational efficiencies. Advanced real-time analytics turns data into actionable insights, with real-time visibility across the business, and powerful analytics tools to improve customer relationships and drive revenue growth.

About Novidea

Novidea is a global provider of an innovative, data-driven insurance platform that enables brokers, agents, and MGAs to manage the customer journey, end-to-end, and drive growth across the entire distribution lifecycle. With Novidea, the insurance industry has a trusted partner that can help them move their business with ease into the digital era.

The Novidea platform, built to leverage the power of Salesforce’s Big Technology, provides a complete ecosystem that covers every aspect of an insurance business, including a 360-degree view of all Management Information, an integrated front- and back-office, and automated workflows that streamline every phase of the insurance journey.

Using cloud-first technology, brokers and MGAs have instant access to all customer data, with actionable intelligence, from any device, anywhere. Novidea customers have the power to make better-informed decisions and deliver greater customer value as true risk consultants through products and services tailored to individual needs. Novidea supports more than 100 customers, including agents, brokers, MGAs, and the London market, managing more than 20 million policies across 20 countries, worldwide.

In June 2021, Novidea raised $30 Million in a Series B round of fundraising. In August 2021, the company joined the ACORD Solutions Group to help shape the future of the insurance market. In October 2021, it was named to the FinTech Global’s InsurTech100 list for two consecutive years. Novidea also won the prestigious ‘Technology & Innovation Supplier of the Year’ award at the Market People Awards in April 2022.

Novidea news

To stay up to date on how Novidea’s technology and team of insurance experts help brokers and agencies around the world future-proof their businesses, sign up for the Novidea newsletter.

For further information contact

Simon Hayes, Managing Director
NextGen Communication
M: +44 (0)777 1516544
E: simon@nextgencomms.com

21 June 2022 – London, UK – Novidea, the creator of the only cloud-native, data-driven platform that optimises the entire insurance policy distribution lifecycle, strengthens its commitment to the UK and International markets as it launches its new offices at the heart of the City, the world’s leading centre for international insurance.

Novidea’s CEO, Roi Agababa, launched the new office at a spectacular party for staff and partners last week. Commenting on the move, Roi said: “Novidea has enjoyed rapid expansion over the last few years and we decided to commit to London as our centre for international growth, mirroring 300 years of history and heritage in the great London Market.”

The move to the new offices, in the stunning landmark building ‘the Gherkin’, highlights the importance of the London insurance market to Novidea as a platform for growth, in the UK and internationally. This follows Novidea’s win of the prestigious ‘Technology & Innovation Supplier of the Year’ award at the Market People Awards.

Novidea already supports more than 100 customers, including agents, brokers, MGAs, and the London Market, managing more than 22 million policies across 20 countries, worldwide.

Ben Potts, UK MD, Novidea, said: “Novidea is an ambitious, fast-growth business and our team has a long heritage of success in the sector. Our willingness to shake up the status quo with our cloud-native, data-driven insurance platform has brought us some big Tier 1 brokers, MGAs, and insurer client wins. This, along with future growth projections, necessitates our move.”

“At Novidea, our team of specialists work together as one integrated team, sharing knowledge and expertise, so the new office will promote a high degree of efficiency and, most importantly, help us to provide an even better service for our clients,”  he added.

Novidea is expanding to meet increased customer demand worldwide, from brokers, insurers, and MGAs, who are demanding digitalisation and e-trading to remain competitive and profitable.

The prestigious new premises will help to support Novidea’s growing team, which has doubled in size over the last year, to better serve existing clients, as well as support further ambitious growth targets as it aims for continued expansion in the London, UK, and international markets.

About Novidea

Novidea is a leading provider of the only born-on-the-cloud, data-driven insurance platform that enables brokers, agents, and MGAs to manage the customer insurance journey, end-to-end, and drive growth across the entire insurance distribution lifecycle.

The Novidea platform, built to leverage the power of Salesforce’s Big Technology, provides a complete ecosystem spanning every aspect of an insurance business, including a 360-degree view of the customer and all stakeholders, an integrated front-, middle-, and back-office, as well as seamless automated workflows that streamline every phase of the insurance journey.

Brokers, agencies, and MGAs have instant access to all customer and policy data, with actionable intelligence, from any device, anywhere. Novidea turns data into insight at the point of need, enabling better-informed decisions and delivering greater customer value through products and services tailored to individual needs.

During 2021, Novidea gained series B funding of $30 million to accelerate product innovation with a growing global team to meet increased customer demand worldwide, including an increased focus on the UK broker market, which is crying out for digitalisation and e-trading to remain competitive and profitable.

Novidea supports more than 100 customers, including agents, brokers, MGAs, and the London Market, managing more than 22 million policies across 20 countries, worldwide.

For more information, please go to: www.novidea.com

Novidea news

To stay up to date on how Novidea’s technology and team of insurance experts help brokers and agencies around the world to future-proof their businesses, sign up for the Novidea newsletter.

For further information contact

Simon Hayes, Managing Director
NextGen Communication
M: +44 (0)777 1516544
E: simon@nextgencomms.com

25 May, 2022 – London, UK – Novidea, the global InsurTech and creator of the data-driven, cloud-native insurance platform that enables brokers, agents, and MGAs to reduce costs and drive growth across the entire distribution lifecycle, has named Adam Glasby as one of its new Programme Managers.

Glasby, whose career started as a software developer for Reuters Information Systems, brings almost 20 years of London Market and Lloyd’s insurance experience. Most recently he worked at Lloyd’s underwriter Beazley, where he was Lloyd’s Part VII Programme Manager. Prior to that he worked as a consultant at Lloyd’s, as a data governance consultant at QBE, and held a variety of technical roles at ACE Group, Allianz, and AON.

Commenting on the hire, Ben Potts, UK MD of Novidea, said: “Adam’s hire is part of Novidea’s strategy of scaling up our team and capabilities with experienced insurance industry professionals, with London Market and Lloyd’s experience, to support brokers and MGAs in the market as it accelerates its much-awaited digitalisation.  

“We have seen accelerating demand for our platform from the London Market, as the need to digitalise was brought into focus during the pandemic. Many firms managed, but at the same time realised that in a new hybrid working world people, including senior management, need to be able to work from anywhere, anytime in a cloud-based environment. Novidea’s platform provides the answer.” 

The appointment comes hot on the heels of the appointments of Paul Richmond, previously at broker Price Forbes, and insurance IT firm DXC, Tom McFarland, formerly of AON and Sequel, Jamie McDonnell, formerly of Marsh and Cytora, and Lesley Townsend, formerly of Miller.

Commenting on his move, Glasby said: “I am excited to be part of Novidea’s rapid growth, with its clear vision for digital innovation in the London Market. Our customers can all benefit from end-to-end digital transformation, which enables broking on the move, both huge cost and time savings that can really transform the profit margins of some of the City’s biggest and fastest growing insurance firms.

“With increasing demand from brokers and MGAs for our platform, it’s a great sign that Novidea has been hiring so many people with London Market and Lloyd’s experience. It shows their desire to gain a deep understanding of the market’s digitalisation challenges and modus operandi,” he added.

Novidea’s insurance distribution platform is built on Salesforce and was created specifically for the global insurance market, including brokers, MGAs and cover holders. The end-to-end platform turns data into actionable insights, with real-time visibility across the business, with powerful analytics tools to drive more sales and improve customer relationships.

Glasby’s hire follows extensive team expansion at Novidea, and a series of other significant milestones. In June 2021, the company raised $30 Million in a Series B round of fundraising. In August 2021, Novidea joined the ACORD Solutions Group to help shape the future of the insurance market. In October 2021, Novidea was named to the FinTech Global’s InsurTech100 list for two consecutive years. Novidea also won the prestigious ‘Technology & Innovation Supplier of the Year’ award at the Market People Awards in April 2022.

About Novidea

Novidea is a global provider of an innovative, data-driven insurance platform that enables brokers, agents, and MGAs to manage the customer journey, end-to-end, and drive growth across the entire distribution lifecycle. With Novidea, the insurance industry has a trusted partner that can help them move their business with ease into the digital era.

The Novidea platform, built to leverage the power of Salesforce’s Big Technology, provides a complete ecosystem that covers every aspect of an insurance business, including a 360-degree view of all Management Information, an integrated front- and back-office, and automated workflows that streamline every phase of the insurance journey.

Using cloud-first technology, brokers and MGAs have instant access to all customer data, with actionable intelligence, from any device, anywhere. Novidea customers have the power to make better-informed decisions and deliver greater customer value as true risk consultants through products and services tailored to individual needs. Novidea supports more than 100 customers, including agents, brokers, MGAs, and the London market, managing more than 20 million policies across 20 countries, worldwide.

For more information, please go to: www.novidea.com

Novidea news

To stay up-to-date on how Novidea’s technology and team of insurance experts help brokers and agencies around the world future-proof their businesses, sign up for the Novidea newsletter.

For further information contact

Simon Hayes, Managing Director
NextGen Communication
M: +44 (0)777 1516544
E: simon@nextgencomms.com