Novidea and Atlantic Global Risk unite to revolutionise insurance management

Novidea and Atlantic Global Risk unite to revolutionise insurance management

Atlantic Global Risk, a forward-thinking specialty insurance broker that specialises in crafting complex insurance solutions for legal, tax, and credit risks, has announced its collaboration with Novidea, the creator of a pioneering, cloud-based, data-driven enterprise insurance management platform.

The essence of this partnership lies in Atlantic Global Risk’s decision to replace three disparate applications with Novidea’s single, end-to-end Insurance Management Platform. This strategic move is aimed at eliminating data silos that have long hampered efficiency and empowering Atlantic’s staff with a unified, streamlined access to critical data and processes.

Before this partnership, Atlantic Global Risk was juggling multiple applications for different operational needs, including a CRM for sales leads, an enterprise cloud platform for managing associates, policies, and documentation, and an agency management application for invoices and customer records. The challenge was that these applications were not specifically designed for the insurance industry, leading to inefficiencies and data fragmentation across departments.

Novidea, on the other hand, offers an intelligent, cloud-native, data-driven platform tailored for brokers, agencies, wholesalers, and MGAs. Its award-winning technology facilitates efficiency at every stage of the insurance policy distribution lifecycle, from lead generation to claims processing. This enables companies like Atlantic to scale their operations effectively, providing a comprehensive view of customer and operational data and integrating front, middle, and back office processes seamlessly.

With Novidea’s platform, the company can now manage data and customer relationships with unprecedented granularity, enhancing reporting and overall impact. By dismantling information silos, Atlantic has gained enhanced visibility and access to quality data, thereby empowering its workforce to streamline processes and elevate client service levels.

Eric Ayala (pictured), Managing Director of Americas for Novidea, highlighted the broader industry trend towards integrated technology solutions. He noted that insurance organisations typically use multiple technology solutions, which leads to data silos and hinders decision-making. Novidea’s selection by Atlantic Global Risk underscores a shared commitment to driving efficiencies and delivering exceptional customer experiences.

Novidea will showcase the platform’s capabilities and benefits at upcoming WSIA and Target Markets insurance industry events, further demonstrating its value to the sector.

Atlantic Global Risk Founding Partner David Haigh said, “As one of the fastest growing specialty brokers in the US, our staff’s deep knowledge and expertise is our differentiator. However, disconnected applications not designed with insurance in mind and inefficient, repetitive processes based on inconsistent data kept our experts from adding more value and giving data-based guidance to our clients. With Novidea, we finally have the technology we’ve been looking for to build upon, scale, and maintain one central repository for all critical information workflows.”

Eric Ayala, Managing Director of Americas for Novidea, said, “Our research shows that insurance organisations are juggling an average of five different technology solutions that power various aspects of their business. This approach creates data silos, holding them back from making better business decisions. It’s why 75% of these businesses say they will change their insurance management technology by 2025.

“We’re honoured to be the insurance management platform of choice for Atlantic as they continue to streamline efficiencies and deliver a world-class customer experience.”

Keep up with all the latest FinTech news here

Copyright © 2024 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.