Insurance innovator launches new customer intelligence and interface for its breakthrough insurance distribution solution
London, [May, 23, 2017]: Novidea, the data-driven platform provider for the insurance distribution industry, today announced the release of two major enhancements to its end-to-end solution. The Novidea platform provides real-time visibility, actionable intelligence and simplified workflow management to brokers, agents, bancassurance and corporate risk management professionals.
Cloud-based and easy to deploy, the Novidea platform consistently delivers increases in revenue from policy sales and renewals of up to 63%.
Actionable customer intelligence boosts revenue
Novidea’s enhanced customer intelligence tools provide an integrated view of each customer, empowering agents and brokers to deliver value-oriented, personalized portfolio recommendations and drive new business from existing customers. In just a few clicks, an easy-to-use wizard automatically generates a clear, actionable graphical representation for each customer, showing key metrics, current portfolio and a profitability analysis. It uses pattern recognition to identify opportunities for upsell and cross-sell, positioning the agent as a valuable advisor and opening the door to additional revenue without costly acquisition campaigns.
“Our innovative algorithms look at all available data on existing customers and portfolios to identify gaps and risks – creating new sales opportunities for the broker from the existing book of business.” says Roi Agababa, CEO of Novidea.
The platform enhancements also provide a data-driven way to identify and nurture the best targets for new and complimentary insurance products or coverage options. Brokers can automatically activate a sales strategy for a given product by algorithmically identifying the most relevant target customers, generating prospect lists, and triggering the sales process across channels. The platform then efficiently and automatically manages the entire funnel for each prospect, maximizing opportunities for new and add-on sales as well as broker productivity.
“These enhancements are part of our mission to help insurance professionals make informed decisions through actionable customer intelligence, optimize cross-sell and up-sell opportunities, and streamline the entire customer lifecycle,” says Sharone Volk, VP product at Novidea.
Enhanced user interface improves consistency across devices
The Novidea platform interface now leverages the Salesforce.com Lightning Experience, a UI framework that is optimized for performance and delivers a streamlined user experience across all desktop and mobile devices.
Novidea is the company behind the leading end-to-end, data driven solution designed specifically for insurance distribution professionals and their customers. By consolidating all front- and back-office data and workflows into a unified view, the platform provides real-time visibility and actionable intelligence into the entire customer journey. The Novidea platform enables top-tier global brokerages, agencies, bancassurance and corporate insurance operations to optimize every customer interaction, expose opportunities for revenue and growth, and dramatically improve profitability and competitiveness. The company has offices in the UK and US, with R&D based in Israel.