Insurtech: Novidea Teams Up With Instech London

Novidea, the digital data-driven insurance brokers & distribution platform, is pleased to announce that it has partnered with Instech London, an organisation that links start-ups, investors and insurers to promote innovation and technology adoption in the insurance sector.

Launched in 2015, Instech London has grown to have over 4000 subscribers and 70 corporate members who support the transfer of knowledge and expertise among individuals in the sector. This strategic partnership therefore reinforces Novidea’s position as a forward-thinking business and underscores the fact that both companies are committed to enabling change within the insurance ecosystem.

By consolidating all functions and workflows across multiple business lines and front and back office operations, Novidea enables its customers to create data driven, customer-centric businesses that increase customer value and bottom line profitability while optimising every customer interaction. These unique capabilities give brokers a 360-degree view of their business and reveal growth opportunities that have remained hidden until now.

Furthermore, because it is built on Salesforce, Novidea is able to utilise the power of its cloud-based platform to exploit itsapplication ecosystem and maximize its research and development budget, which propriety software vendors simply cannot compete with. By working together, Novidea and Instech London will therefore look to drive change in the market and encourage greater technology adoption.

Matthew Grant, Partner at Instech London, comments:

“At Instech London, we pride ourselves on being at the forefront of driving change. We only partner with organisations that are using the latest ideas in analytics, data and technology, with clear evidence of being able to help insurers by taking advantage of new opportunities.

Novidea is delivering on this promise by integrating its core Salesforce platform with third party solutions in order to deploy its system both quickly and seamlessly. Insurers and brokers are increasingly realising that this level of speed is vital when it comes to deploying new technology. As new opportunities emerge, existing businesses are under threat from well-funded start-ups looking to compete on efficiency and customer service, so it has never been more important to deploy innovative technology that can help level the playing field.”

Ben Potts, Managing Director UK, comments:

“The insurance sector has for a long time been plagued by legacy systems and a deluge of data, leaving many firms grappling with technological change. Given the pace at which the industry is moving, however, and with customer expectations higher than ever before, insurers need to act now to stay relevant and part of the evolving ecosystem.

By working with Instech London, Novidea is making a commitment to showcase the benefits that technology can bring. We’re honoured to be part of such an ambitious community and look forward to helping bring together some of the industry’s most influential people to solving today’s problems with modern, innovative technology.”

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