"Unify Your Retail Brokerage Operations with Novidea" - Paul Richmond, Novidea

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Paul Richmond

About this talk

Paul Richmond, Product Manager at Novidea provides insights into Novidea's data-driven distribution platform for the Broking and MGA community across global markets. In this video, Paul focuses on the UK retail market, where he works closely with clients to develop the roadmap and deliver functionalities tailored to their needs. Learn how Novidea's platform unifies brokers dealing with end-insured clients, whether they are purchasing policies through portals, contacting call centers, or maintaining face-to-face relationships in regional offices. The goal is to ensure all stakeholders are on one platform, eliminating disparate systems and providing a seamless end-to-end journey for their business operations. Discover a real-life example of how Novidea assists clients, where an end policy holder visits a branded website for a quote and bind journey, accessing policy documentation. Behind the scenes, Novidea's clients handle policy administration, while underwriting functions are based in London. The Novidea platform comprises flexible outward-facing products for customers, a powerful backend engine for rating and product management, and a financial element for efficient policy processing and transaction management while communicating with underwriters. At Novidea, continuous development is a priority, with a focus on incorporating client feedback and suggestions to improve the platform. Paul's personal passion lies in ESG (Environmental, Social, and Governance), and Novidea aims to support clients in driving their ESG agenda. Through partnerships with third parties, Novidea strives to assist with Scope 1 and Scope 2 emissions, elevate the ESG movement, and act as responsible citizens.
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Novidea is the creator of the only born-in-the-cloud, data-driven insurance platform that enables brokers, agents, and MGAs to modernize and manage the customer insurance journey end-to-end and drive growth across the entire insurance distribution lifecycle. The Novidea platform, built to leverage the power of Salesforce’s Big Technology, provides a complete ecosystem spanning every aspect of an insurance business. The platform’s AI technology provides a 360-degree view of the customer and all stakeholders, enabling full integration between customer-facing policy transactions and the middle and back office. Brokers, agencies, and MGAs extract more value from their customer and policy data with actionable intelligence from any device, anywhere. Novidea turns data into insight at the point of need, enabling better-informed decisions and delivering greater customer value through products and services tailored to individual needs. Novidea supports more than 100 customers, including agents, brokers, MGAs, and the London market, managing tens of millions of policies across 22 countries.