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Novidea announces new UK office and funding to support global growth campaign

Salesforce Ventures invest in Novidea to accelerate expansion

London, [October 25, 2018]:

Novidea, the data-driven platform provider for the insurance industry, has today announced that it is significantly expanding its operations as it opens its first UK office, a sign of its rapid business growth.

Novidea is leading change in insurance distribution. By consolidating all functions and workflows across the entire journey, multiple business lines and front and back office operations, brokers are able to create data driven, customer-centric businesses that increase customer value and bottom line profitability while optimising every customer interaction.

Novidea’s breakthrough data-driven platform provides a single solution for brokers, agents, MGAs, and insurers to monetise data, increase profitability, improve the customer experience and dramatically improve business efficiency via powerful analytics and real-time actionable intelligence. These unique capabilities give brokers a 360-degree view of their business and reveal growth opportunities that remained hidden until now.

To fuel its own company growth, Novidea has received investment from KT Squared, Salesforce Ventures, the corporate investment group of Salesforce, as well as participation from existing Novidea shareholders. Built on Salesforce’s Force.com, Novidea offers tremendous scalability, security and reliability. Novidea is already being used in 10 countries.

“The insurance sector is under increased pressure to drive revenue and increase profitability, which is no easy task given the growing competitive landscape and frequent changes in regulation. However, a key way that brokers can differentiate themselves and future proof their business is through investing in the right technology,” says Roi Agababa, CEO at Novidea. “By implementing a modern broker management system, such as Novidea, brokers are able to put data at the heart of their business and take a customer-led approach to both front and back office operations. As a result, they can expect greater customer satisfaction and increased revenue across all areas of the business.”

About Novidea UK

Novidea is the global, end-to-end broker management platform designed for insurance distribution. Novidea provides a complete front and back office, cloud-based solution that covers the entire insurance lifecycle, fuelling business growth through data monetisation and actionable intelligence. With a real-time view of the full customer journey, Novidea optimises every customer interaction and exposes new opportunities to drive profitability. By revolutionising traditional work patterns, Novidea drives operational efficiencies that address today’s customer demands and insurance industry challenges.

Founded in 2009, Novidea supports agents, brokers, MGAs, specialty carriers, insurance companies and Bancassurance operations servicing more than 12M+ policies in 10 countries

Salesforce Ventures

Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 275 enterprise cloud startups in 17 different countries since 2009. For more information, please visit www.salesforce.com/ventures.

 

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