12th August, 2021
Novidea partners with ACORD Solutions Group to help shape the future of the insurance market
LONDON, 9th August 2021 - Novidea, the global provider of the ‘born-in-the-cloud’ insurance platform that enables brokers, agents, and MGAs to manage and drive growth across the entire distribution lifecycle, today announced it has joined the ACORD Solutions Group 'Licensed Integrator Partner’ program.
The partnership will enable Novidea, with its increasing global presence in the market, to work more closely with the ACORD community and the rest of the insurance ecosystem to share insights and engage with other leading market participants, including other technology providers and incumbent businesses.
ACORD Solutions Group (ASG) is the industry-owned solutions arm of ACORD, the standards-setting body for the global insurance industry.
Being part of ASG’s 'Licensed Integrator Partner’ program also means that Novidea can learn first-hand where ASG and its vendor community are trying to make changes in the market and be a part of the design and the solution. Further, it gives Novidea a relationship with ACORD as it evolves its own data model and what this means in terms of compatibility with the ACORD Standards.
Ben Potts, MD of Novidea said: “At Novidea, we believe that common data standards are going be key to the success of future digital transformation in the market. As we grow our global presence, we feel it is vital to be at the heart of market innovation. Working with ACORD and other industry leaders will enable Novidea to help shape the future of the market."
“Our aim is for Novidea’s platform to be agnostic to various data transfer methods, placing platforms or whatever else may come over the next 2 - 5 years and this partnership will be invaluable as Novidea continues to build its own network of integrations and partners in an expanding 'ecosystem' designed to put customers right at the heart of that innovation.”
“We are delighted to partner with Novidea in accelerating the market’s long-overdue digital transformation,” said Chris Newman, ACORD’s Managing Director – Global. ”Their expertise and insights will be invaluable as we work together to leverage the efficiencies of standardised data exchange for the benefit of the whole market and its customers.”
Novidea’s growth has been largely driven by brokers’ urgent need to move from outdated legacy systems to a cloud-based broker management platform. The demand for brokers to be able to work on the move, anywhere, anytime, has been brought into the spotlight during the lockdown.
Novidea’s leading broker management platform, built on Salesforce, provides a cloud-based, data-driven, and client-focused solution for brokers and MGAs seeking to more effectively manage the entire policy and distribution lifecycle across all lines of business.
Novidea is a global provider of a leading 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.
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 customer journey.
Using cloud-based technology, brokers, and MGAs have instant access to all customer data, with actionable intelligence, from any device, anywhere. This enables them 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 90+ customers, including agents, brokers, MGAs, and the London market, managing more than 20 million policies across 17 countries, worldwide.
For more information: www.novideasoft.com
About ACORD Solutions Group
ACORD Solutions Group (ASG) is an industry-owned extension of ACORD, the standards-setting body for the global insurance industry. ASG delivers end-to-end, enterprise-class solutions to optimize the cost, speed, and accuracy of consistent data exchange.
We are uniquely positioned to provide InsurTech solutions which increase the value of data for all insurance stakeholders, regardless of size, geography, or legacy constraints. ASG facilitates integration while bridging the gap between legacy capabilities and strategic modernization. Learn more at www.acordsolutions.com.
For further information contact
Simon Hayes, M.D.
M: +44 (0)7771 516544