News Category: Press Releases

BOSTON—April 14, 2026—Novidea, creator of the unified, cloud-native insurance management platform, today announced that it has been named a finalist in the 2026 PropertyCasualty360 Insurance Luminaries Awards in the “Product or Service Innovation” category. The Insurance Luminaries program, hosted by PropertyCasualty360 Magazine, honors insurance organizations that are leading impactful transformation through innovation, operational excellence, and industry advancement.

Novidea was selected as a finalist in the highly competitive “Product or Service Innovation” category. A panel of experienced insurance industry judges carefully evaluated each submission based on three main criteria: leadership, innovation, and measurable industry impact. This is the third consecutive year that Novidea has been named a finalist in this category, and the company won the award in 2024 and 2025.

“Being named a finalist in the PC360 Insurance Luminaries for the third consecutive year—after winning in both 2024 and 2025—is a powerful validation of our continued commitment to innovation and industry leadership,” said Julie Shafiki, Chief Marketing Officer of Novidea. “This recognition highlights the measurable impact of our continuous innovation strategy, delivering frequent, customer-driven enhancements that help our clients stay future-ready as market complexity grows.”

Novidea’s cloud-based, data-driven, AI-enabled insurance management platform is built for brokers, agents, MGAs, MGUs, and hybrid fronting carriers. The innovative platform empowers users with automated, configurable tools to manage every aspect of the business and real-time analytics to make smarter decisions. As a result, organizations can scale and bring new products to market faster than their competitors.

PropertyCasualty360 will announce the winners at the inaugural Insurance Luminaries Awards dinner at The Palmer House in Chicago, Ill., on June 24, 2026. The winners will also be profiled in an upcoming issue of PropertyCasualty360.com.

Boston, MA and London, UK – March 17, 2026 – Novidea, the global leader in cloud-native insurance management platforms, announced its latest product release which will enable users to reduce manual rework, improve data integrity, and accelerate high-volume processing across policy, bordereaux, claims and broker accounting workflows.

Highlights of the Release

• Quote-to-Bind – To further accelerate the Quote-to-Bind process, brokers can now also manage multiple quote versions for different markets and select multiple markets under an open submission in a single action. Market selection is optimized by division-specific preferred market lists and Business Unit-level facility restrictions, ensuring front-office teams engage only with relevant and compliant capacity providers.
• Policy Administration – Policy administration capabilities have also been expanded to better handle complex financial terms. Organizations can now establish bespoke instalment schedules for each carrier on Open Market policies, and utilize BiPar Groups for granular control over shared financial terms across participant markets. Additionally, comprehensive lifecycle support for Notices of Cancellation has been directly integrated into the platform to automatically flag impacted installments and postings.
• Claims – Claims handlers benefit from a new Movement Summary dashboard that delivers real-time, multi-currency financial visualizations directly on the claim movement record. Teams can now efficiently move open claims between policy versions without losing data and natively manage Loss Funds directly from binder sections.
• Bordereaux – Bordereaux production and correction processes have also been significantly enhanced. A new cross-facility dashboard allows users to generate bordereaux files across multiple facility versions and sections simultaneously. When corrections are required, users can now efficiently roll back finalized premium and claims bordereaux with automated contract creation to maintain a strict audit trail.
• Accounting and Finance – The platform reduces manual reconciliation work to an even greater extent. Finance teams can execute multiple write-offs within a single dynamic allocation and process payment requests in soft currencies without needing a corresponding destination bank account. To further streamline period closes, the system now automatically matches bank statement debits to payment requests and generates automated contra postings for cancellation and replacement transactions.

Specialty Premium Automation for Complex Schedules

Brokers often process specialty placements at a summary level due to limitations of legacy platforms, and their ability to manage the high volume of scheduled data and necessary processing automation. Novidea’s new import capability automatically creates the schedule and loads premium terms per carrier for each vessel, aircraft, or property. Premiums are then generated automatically, including the applicable number of LPANs. This structured data remains available throughout the policy lifecycle to support endorsements and is seamlessly transferred upon renewal.

By capturing this granular placement data earlier in the process, the Novidea platform further strengthens automation for premium processing in complex specialty business, enabling cleaner downstream bordereaux, transactions, and reporting.

“Customers are asking for both speed at volume, and tighter control in complex, regulated workflows,” said Ido Peled, SVP Product at Novidea. “This release focuses on practical improvements that remove friction, strengthen data integrity, and help teams handle sophisticated placements, bordereaux and financial processing with confidence. It is part of Novidea’s continuous innovation strategy, delivering frequent, customer-driven enhancements that keep insurance organisations future-ready as market complexity grows.”

TEL AVIV – January 6, 2026 – Novidea, the global leader in cloud-native insurance management platforms, has announced that Colmobil, a large distributor of private and commercial vehicles and automotive service provider, has chosen Novidea’s end-to-end platform to modernize and unify its insurance operations. The deployment will streamline workflows, eliminate manual processes, and enhance data-driven decision-making across Colmobil’s insurance business.

Colmobil offers a comprehensive one-stop shop for vehicle sales and insurance services. Previously, the company operated separate systems for sales and insurance management, with limited visibility across the business. With the need to unify its technology infrastructure and eliminate manual processes, Colmobil looked for a solution that could seamlessly integrate with its existing Salesforce customer management system while delivering comprehensive insurance management capabilities.

Colmobil selected Novidea’s end-to-end insurance distribution platform for its proven ability to automate insurance workflows, consolidate data, and integrate seamlessly with Salesforce. This integration will enable a unified operational flow across sales and insurance, creating an efficient, connected ecosystem powered by real-time data and analytics.

The implementation of the Novidea platform will provide Colmobil with tools to enhance operational excellence and business performance. With Novidea’s cloud-based insurance platform, Colmobil will increase automation to streamline workflows across sales, service, operations, and claims, enforce data quality controls, and leverage real-time business insights generated by the analytics layer.

The partnership, backed by Novidea’s deep market expertise and industry best practices, reinforces Colmobil’s commitment to driving innovation and operational excellence in the automotive sector.

Dana Jagerman, Chair of the Insurance Agency at Colmobil, said: “The partnership with Novidea represents another significant step in our transformation journey across multiple areas, aimed at maximizing results through the optimization of systems and processes.”

Ilan Shapiro, CEO of the Insurance Agency at Colmobil, said: “By integrating our sales and insurance systems into one unified platform, we will improve efficiency and gain the visibility needed to support our continued growth. Novidea’s automation and analytics capabilities will empower us to deliver even greater value and service to our customers.”

Roi Agababa, CEO at Novidea, added: “We’re thrilled to partner with Colmobil as the company modernizes its insurance operations. Colmobil chose Novidea, a platform that can handle the complexity and scale of their business while delivering the agility needed in today’s competitive market. Our comprehensive SaaS solution, built on years of global market experience and industry best practices, will empower Colmobil to work smarter, faster, and gain greater insight. We’re excited to support their vision for operational excellence.” 

About Colmobil 

Colmobil is the leading automotive group, importing private and commercial vehicles from Mercedes, Hyundai, Mitsubishi, Genesis, Smart, Jaecoo, OMODA, and ORA. Colmobil offers its customers a wide range of products and services, including financing solutions, leasing, insurance, and trade-in centers.

As part of its business expansion, the company now includes Colmobil Energy, which operates in the renewable energy sector. Colmobil is currently establishing the market’s first lithium-ion battery recycling plant. Recently, Colmobil acquired “Afco,” a leading company in the construction and agricultural machinery sector.

The group employs approximately 1,500 people nationwide, working across sales, service, financing, logistics, spare parts, and headquarters operations.

BOSTON and LONDON – December 3, 2025 – Novidea, creator of the cloud-based, data-driven insurance management platform, today released its 2025-2026 report, Scaling for the Future: The State of Insurance Management Platforms. The report, based on a survey of 200 global C-suite insurance leaders, highlights the urgent need for technological modernization across the industry, revealing the key challenges faced by firms that still rely on legacy systems. The report is especially relevant for insurance organizations planning to acquire a new core platform or replace modules in their current systems over the next one to three years.

The survey found that a staggering 95% of insurance professionals face “significant” challenges with their existing legacy core technology platforms. Data-related issues are the most pressing concerns, with data security and privacy (35%) and data quality (33%) ranking at the top. Other major pain points include high upgrade and maintenance costs (32% and 26%, respectively) and integration difficulties (25%).

“The findings of our latest report confirm our thesis that the insurance industry is at a major technological crossroads,” said Julie Shafiki, CMO at Novidea. “While a majority of leaders within the industry recognize the need to modernize and are actively planning for change, they continue to face significant barriers, from concerns about system compatibility to internal resistance. Our goal at Novidea is to alleviate some of these pressures by providing a cloud-native, end-to-end, open API platform that addresses the most common barriers to transformation and brings value to our customers to grow their business.”

Appetite for Change, But Concerns Over Change Management

Despite the challenges, the report indicates a strong appetite for change, with 73% of leaders planning to upgrade their technology within the next three years. 

Other highlights of the research include:

• Of the 73% planning to make a change, 40% are considering a total “rip and replace” 
• 60% favor a more incremental approach by replacing specific modules
• Document management (31%) emerged as the top module targeted for replacement, followed by contract builder (29%), placing platform (27%), and claims management (27%)
• The biggest barriers to executing change projects are lack of investment in new technologies (27%) and employee resistance to change (23%) 
• Nearly all respondents (99%) reported multiple issues stemming from their existing processes, with the most frequently cited problems being analytical reporting and visualization (26%) and claims tracking (26%) 

It’s worth noting that of the respondents who cited “employee resistance to change” as a top barrier, the majority were executives from small and mid-sized insurance organizations. Only 15% of respondents from companies with more than 5,000 employees chose this answer.  

Paving the Way for AI 

When asked whether their insurance management platform enables them to utilize the benefits of AI, 71% of respondents said it enables them to benefit significantly, while 28% said they benefit somewhat, and only 1% reported no benefit at all. It’s not surprising that larger insurance organizations are deriving greater value from AI capabilities than smaller firms, indicating that the biggest players are leading the way in AI integration.  Irrespective of the size of the organization, they all must maintain accurate data

To download a copy of the report, click here.

Boston, MA and London UK – October 14, 2025 – Novidea, the leading provider of a cloud-based, data-driven insurance management platform, today announced its September 2025 product release, delivering a range of customer-driven enhancements. The latest updates enable brokers, MGAs, and carriers to save time, reduce errors, and gain greater control over policy, claims, and financial operations.

Highlights of the Release:

• Enhanced Operational Efficiency – Streamlined workflows, including a guided and improved Quote-to-Bind process and bulk updates for installment due dates, help users work faster and reduce repetitive tasks. 
• Upgraded Claims Financials Management – Streamlined claims workflows consolidate all claim financial movements (such as reserves, payments, and refunds) into a single, intuitive screen, reducing steps and training requirements while improving accuracy.
• Improved Data Integrity and Financial Controls – Stronger validation for bank accounts, third-party postings, and cancellation transactions ensures greater accuracy and compliance.
• Superior Document and Filing Experience – New tabbed navigation for document filing, a modern model for managing broker narratives, and direct in-platform access to email attachments simplify document management and streamline workflows.
• London Market Messaging Enhancements – New system controls govern bordereaux processing during data refresh, with clear alerts that protect data integrity and prevent disruptions.
• Faster, More Accurate Transactions – Direct allocations from the ledger, with guided mismatch resolution and automatic defaults, speed up financial operations while reducing reconciliation errors.
• Customer-Driven Innovation – Every enhancement reflects close collaboration with customers and partners, reinforcing Novidea’s commitment to solving real-world challenges and supporting growth.

“Our customers are navigating an increasingly complex and competitive insurance landscape,” said Ido Peled, SVP Product at Novidea. “This release reflects our commitment to listening to their needs and delivering innovations that improve efficiency, strengthen financial control, and ultimately help them scale faster.”

This release is part of Novidea’s continuous innovation strategy, with monthly product updates designed to give customers rapid access to new features and improvements. By delivering regular, customer-driven enhancements, Novidea ensures its platform remains future-ready, helping insurance organizations adapt quickly and stay ahead in a fast-changing market.

Boston, MA and London UK – October 13, 2025 – Novidea, creator of the cloud-native, data-driven insurance management platform, today announced the appointment of Matt Foster as Executive Chairman. 

Based outside of Chicago, Ill., Foster brings more than 30 years of experience leading and scaling global technology organizations. He has an extensive track record in the insurance industry and deep expertise in strategic M&A, international operations, enterprise SaaS, and organizational transformation. His leadership spans public companies, private equity-backed growth businesses and technology-driven service organizations. 

“Novidea is at an exciting stage in its growth journey, expanding globally and delivering the modern technology that brokers, agents, MGAs, MGUs, and carriers need to compete and thrive,” said Foster. “I’m honored to join as Executive Chairman and to support the team as we accelerate innovation, expand our global footprint, and deliver lasting value and success for our customers and partners worldwide.”

Foster most recently served as Chief Operating Officer of Duck Creek Technologies, where he played a pivotal role in scaling the business and guiding it through a successful IPO. During his tenure, he oversaw global operations across sales, marketing, professional services, product management, engineering, human resources, and SaaS operations. He currently serves as a board member of Azentio and Athenium, two technology companies operating in the insurance space. 

Prior to Duck Creek, he served as Partner and Chief Technology Officer at Accenture Software, where he led the acquisition and successful integration of Duck Creek. He earned a Bachelor of Science in Industrial Engineering from Purdue University.  

“Matt’s strategic vision, operational expertise, and industry insight make him an exceptional addition to Novidea’s leadership team,” said Roi Agababa, CEO of Novidea. “His experience driving growth and transformation at scale will be invaluable as Novidea continues its journey toward becoming a global leader in insurance technology.”

Boston, MA and London UK – October 1, 2025 – Coherent Global, the leader in enterprise spreadsheet automation and intelligence, and Novidea, the leading cloud-based, data-driven insurance platform provider, today announced a strategic partnership designed to help brokers, agents, MGAs, MGUs, and hybrid fronting carriers modernize faster, reduce operational risk, and unlock data-driven growth.

This collaboration combines Novidea’s end-to-end insurance management platform with Coherent’s automated and intelligent rating capabilities, transforming business-critical spreadsheet logic into governed, API-ready assets without rebuilding or disrupting how teams work. The integration enables insurance organizations to:

• Accelerate speed-to-market for new products, pricing, and underwriting changes
• Reduce operational and compliance risk through enhanced governance, auditability, and version control
• Unlock enterprise-wide intelligence by surfacing hidden business logic, usage patterns, and dependencies
• Streamline data flows across the entire insurance lifecycle from lead generation and quoting, to policy admin, claims, and complex financial reconciliation, transforming your entire architecture or modernising key parts for straight-through processing

A key area of joint value is in rating workflows. Today, many insurers and MGAs rely on offline Excel sheets to calculate premiums and then manually re-key values into core systems, creating inefficiency and operational risk. Coherent’s platform solves this challenge by converting Excel-based rating logic into C++ code that can be integrated via an API. By embedding this directly into Novidea’s cloud-native platform, insurers can seamlessly integrate existing raters, preserve familiar models, and eliminate re-keying, removing a major integration pain point and enabling faster, more accurate quoting.

“Spreadsheets still run a massive portion of the insurance and financial services industry, but they’re often invisible, unmanaged, and risky,” said Rich Barbarino, Chief Commercial Officer, Coherent Global. “Partnering with Novidea allows us to embed Coherent’s automation and intelligence directly into an industry-leading insurance management platform—so our customers can modernize faster while staying in the tools they know.”

Maayann Cyzs, VP Strategy at Novidea, added, “Our mission is to empower the insurance industry with a truly digital, data-driven ecosystem. With Novidea’s open API architecture, we now see that Coherent allows our customers to harness the full value of their existing business logic while benefiting from Novidea’s connected, cloud-native capabilities.”

The joint solution is immediately available, with integration support and solution packages tailored for insurers, brokers, and MGAs looking to modernize rating, underwriting, claims, and compliance workflows.

LONDON — September 30, 2025 — Novidea, creator of the cloud-native, data-driven insurance management platform, today announced that New Dawn Risk, an independent specialist Lloyd’s insurance broker, is now live on Novidea’s platform. The implementation replaces legacy systems with a unified solution that boosts efficiency, strengthens financial reporting, and delivers real-time business visibility.

New Dawn Risk were looking to enhance their operations by streamlining manual reporting, bringing greater consistency to approval processes, expanding analytics capabilities, and adopting more flexible task management tools to support day-to-day efficiency. They were also seeking a solution to strengthen integration between internal workflows and financial reconciliation, enabling teams to operate with greater agility and scale more effectively.

With Novidea, New Dawn Risk has transitioned to a fully integrated platform covering ten lines of business. Novidea’s insurance management platform for London Market brokers supports the entire broking lifecycle, from initial enquiry and quotation through to policy administration, mid-term adjustments, renewals, claims handling, and integrated insurance business accounting. By consolidating these functions into a single system, New Dawn Risk has eliminated redundant processes, reduced manual data handling, and gained access to powerful analytics capabilities that enable data-driven decision-making at every level. With Novidea’s out-of-the-box solution, implementation was completed in just eight months.

The implementation also includes the integration of Docomotion, a document generation tool recently acquired by Novidea, which automates the production of client documents and internal communications for New Dawn Risk. This will reduce administrative workloads and improve turnaround times, allowing teams to focus on strategic initiatives and client service delivery.

Constance Dyson, Chief Operating Officer at New Dawn Risk, said: “The Novidea platform will transform how we operate by providing invaluable insights and streamlining critical processes. This aligns with our strategic growth objectives, and equips the business with the tools needed to lead in an increasingly digital insurance environment, while delivering an enhanced client experience. Partnering with Novidea reflects our commitment to innovation and client-centric service.”

Yaniv Cohen, Novidea’s Chief Customer Officer stated: “We are delighted to be supporting New Dawn Risk with Novidea’s data-driven platform that will enable them to accelerate growth as they continue to streamline efficiencies and deliver a world-class customer experience.”

Novidea’s scalable architecture ensures that New Dawn Risk can expand its operations efficiently as business needs evolve, with flexibility to accommodate new legal entities, additional binders, and future integrations. With all teams in the organisation now operating within the platform, the company is positioned to enhance its market responsiveness, streamline back-office functions, and support continued international growth.

LONDON – August 12, 2025 – Docomotion, a Novidea Company and leader in document generation solutions, today announced the launch of Docomotion Connect, a comprehensive cloud-based document generation platform that extends its capabilities to seamlessly integrate with any core system. This strategic expansion addresses the critical document challenges faced by organizations relying on diverse core systems and opens up the opportunity for them to easily integrate document generation capabilities.

Docomotion Connect centralizes document generation across the entire organization. It combines a sophisticated, MS Word-based template designer with a powerful generation engine, accessible through straightforward API integration. This enables enterprises to centrally manage templates and generate professional, pixel-perfect documents – streamlining workflows and elevating output across any technology stack.

“The driving force behind Docomotion Connect came directly from our customers,” said Oren Leshem, Managing Director of Docomotion. “Many use Docomotion within their Salesforce-powered departments but struggle with disparate, legacy systems elsewhere. They voiced a strong need for a unified solution to empower business users and streamline processes across their entire organization. We’re excited to meet that need by extending a familiar, trusted solution across these new platforms and environments.”

Key Features of Docomotion Connect

Docomotion Connect streamlines document generation across any platform with its sophisticated generation engine. It uses an MS Word-based template designer that supports complex requirements, including conditional logic, containers, tables, and more. This powerful designer enables non-technical users to create advanced templates without coding. The solution offers robust REST API integration with flexible data processing capabilities and universal compatibility with any CRM, ERP, legacy system, or custom application. It features enterprise-grade security built on the same secure foundation as Docomotion.

Immediate Business Impact

The platform delivers significant business benefits by reducing document creation time by up to 90%, maintaining consistent standards through centrally controlled template designs, providing professional-grade documents at every client touchpoint, eliminating costly manual editing errors, and enabling swift adaptation to changing requirements with minimum IT intervention.

Ideal for Multi-System Environments

Docomotion Connect is particularly valuable for:

• Organizations using multiple systems that need a unified generation tool
• Companies with legacy or in-house development systems requiring modern capabilities
• Enterprises seeking consistent document branding across diverse environments
• Insurance enterprises that need to enhance their processes with accurate, compliant documents such as policies, quotes, MRCs, coverslips, and binding documents
  

The solution requires minimal integration, enables quick deployment through standardized APIs, and adapts swiftly to changing brand standards or business needs.

Availability

Docomotion Connect is available immediately worldwide. For more information about Docomotion Connect or to schedule a demo, click here.

LONDON – August 6, 2025 – Novidea, the global leader in cloud-native, data-driven insurance management platforms, has been honoured with four prestigious awards in 2025, reinforcing its position as one of the most innovative technology providers in the global insurance sector.

This year, Novidea has been:

• Named to PropertyCasualty360’s Insurance Luminaries Class of 2025 in the Technology Innovation category for the second consecutive year.
• Recognised in both the DataTech50 and AIFinTech100 lists for pioneering data-driven and AI-powered solutions in insurance.
• Awarded Technology & Innovation Supplier of the Year at the London Market Forum (LMF) Market People Awards,  a title it has won multiple times, including in 2022, 2023 and Highly Commended in 2024.

The Insurance Luminaries programme, curated by PropertyCasualty360, celebrates organisations that are modernising and humanising the property and casualty (P&C) insurance business. Novidea’s repeat win in the Technology Innovation category reflects its transformative impact on the insurance distribution lifecycle, from lead generation and quoting to policy administration, claims, and complex financial reconciliation.

In 2024, Novidea further expanded its innovation capabilities through the acquisition of Docomotion, a cloud-based automated document management solution. This technology enables intuitive, no-code form processing, management, and e-signatures, enhancing operational efficiency for document-heavy insurance processes such as policies, quotes, MRCs, coverslips, and binding documents.

The DataTech50, curated by FinTech Global, recognises the most forward-thinking companies using data analytics, management, and infrastructure solutions to transform financial services, while the AIFinTech100 honours the most innovative AI and machine learning solutions in financial services. Novidea’s inclusion in both lists highlights its leadership in advanced data driven capabilities and actionable intelligence to streamline operations, improve compliance, and deliver enhanced customer experiences.

At the LMF Market People Awards, Novidea was recognised as Technology & Innovation Supplier of the Year for its continued contributions to the London Market’s technology landscape. The award highlights Novidea’s platform which is purpose built for London Market brokers and MGAs with a single platform covering the entire insurance lifecycle, including complex risk placement and Lloyd’s messaging to streamline operations, unlock the value of their data, and scale effectively. This win reinforces Novidea’s position as a leader in driving digital transformation across the London Market.

Julie Shafiki, Chief Marketing Officer at Novidea “It’s an honour to be recognised with four major industry awards in 2025 for our commitment to technology and innovation. Being recognised in the Insurance Luminaries, DataTech50, and AIFinTech100, as well as earning the title of Technology & Innovation Supplier of the Year at the LMF Market People Awards once again, highlights the strength of our platform. Built on deep industry expertise and a commitment to innovation, our platform is driving meaningful change across global insurance markets. It’s empowering businesses to transform operations, tackle challenges, and deliver outstanding value to policyholders around the world.”