Is your legacy insurance
distribution platform holding
The London Market’s reach has surpassed its technology. Now more than ever, The London Market is contesting a global marketplace. Competition to The London Market has evolved, and failures to adapt to new technology could threaten London’s status as a global leader. With insured clients and retail brokers operating in diverse locations, and with advancing expectations on service and efficiency, legacy platforms simply cannot keep up.
The limits of these platforms keep brokers and MGAs from quickly creating products and schemes that match the needs of their client base, as well as from providing those through an accessible platform.
What’s more, those same limits mean that massive data sets must be processed and analysed manually. This not only leads to inaccuracies and missed insights; it also balloons operation costs, which puts pressure on pricing, which in turn limits growth.
This is why we created Novidea—to provide a single, data-driven platform that covers every aspect of your business, including automated workflows, management information, and reporting. This allows you to put your customer at the forefront, providing and enhancing risk-management services. This includes managing by exception to quickly and easily extract insights from data, turning those insights into growth.
London Market in a Box for London
Novidea gives you everything your team needs to connect to the London Market ecosystem and trading partners today and in the future. This includes connectivity to the bureau and its carriers through messaging, integration to London trading platforms, and Lloyd’s standard 5.2 Bordereau management. As members of the ACORD LIP programme, we’re committed to ensuring our data standards always meet the evolving market requirements.
Integrated Front, Middle,
and Back Office
Our platform digitalises your entire insurance distribution lifecycle, from quotes and upselling to accounting and claims. Give your team and your customers a seamless digital experience and streamline access to valuable data insights across every phase of the insurance supply chain. You can also optimise your process workflows to run across all business departments, from broking assistance through to claims and accounts.
Novidea’s data-driven insurance distribution platform gives real-time access to all of your data at the point of need. Not only does this enable brokers, MGAs, and coverholders to manage accounts more efficiently and increase client retention, but it frees up valuable time and resources to cross-sell and up-sell based on each client’s needs.
Risk Transfer on the Move
Novidea is truly cloud-native, allowing you to securely access your customer data from anywhere on any device. Furthermore, the platform gives you a truly global solution for all domestic and overseas markets, facilitating electronic placement as well as broking complex solutions in a way that suits your business and your clients.