Harbour Underwriting selects Novidea’s insurance platform to drive operational efficiencies and growth
Novidea, the global insurance platform provider, today announced that it has been selected by Harbour Underwriting (HUL), a Managing General Agent (MGA) and leading provider of commercial dispute insurance, to implement its end-to-end, data-driven platform.
Novidea’s platform leverages Salesforce’s Big Technology to drive digital transformation through automated processes, powerful data analytics, and digital customer engagement tools. The platform will enable HUL to fully automate its entire business lifecycle, consolidate its legacy systems, improve data-driven business decisions, and provide an enhanced customer experience.
Ben Potts, MD, Novidea, said: “MGAs can be held back by legacy systems, having to work off spreadsheets or across multiple systems, which create operational inefficiencies and can stunt growth. Following their successful rebrand, HUL is focused on the future, with our support. Novidea’s data-driven platform will enable HUL to accelerate growth and profitability through enhanced sales and improved productivity.
"Novidea has gained greater traction in the market as brokers and MGAs increasingly look to fast-track cloud migration and gain more powerful and easily accessible data-driven insights,” Ben continued. “Covid-19 has accelerated the adoption of cloud-based services and, in the future, all insurance distribution will use this technology. We are proud to help HUL stay a step ahead."
Sharon Brown, MD, HUL, said: “At HUL, we were impressed with Novidea’s business model and the clients they work with. HUL has a niche underwriting process, and few other providers were able to meet our requirements. The stability, scalability, and flexibility of Novidea’s technology, together with their insurance sector expertise, will give us an end-to-end process that will enhance the customer journey and allow us to more effectively analyse the data that we obtain.
“HUL is a growing business and our needs will inevitably change. We therefore needed a partner who can grow and evolve with us and provide the flexibility we need to keep us ahead of our competitors. The benefits of working with Novidea are wide-reaching and our new underwriting platform will be one of the tools that underpin the future of our business strategy.”
Novidea’s growth has been driven by insurance businesses’ need to work remotely and move away from legacy systems to one cloud-based, data-driven platform, where they can effectively manage the entire policy and distribution lifecycle across all lines of business, including all front- and back-office functions.
Harbour Underwriting Limited (HUL) is a Managing General Agent and member of the Harbour Solutions Group, which opened for business in 2017. It is one of the leading providers of commercial dispute insurance for both claimants and defendants.
HUL provides bespoke insurance solutions to brokers, law firms, funders, advisors and corporates to help reduce the financial risks of litigation and arbitration. After the Event (ATE) insurance is a fundamental tool for mitigating the costs involved in disputes, giving you and your clients the confidence to pursue or defend the claim.
Simon Hayes, Managing Director
M: +44 (0)777 1516544