News Category: Press Releases

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.”

July 16, 2025—Novidea today announced that Kinetic Insurance has accelerated its digital transformation and scaled operations with its cloud-native insurance management platform. Kinetic is a workers’ compensation MGU that uses wearable technology, data, and AI to reduce workplace injuries. Enabled by the Novidea platform, Kinetic achieved a 24 percent increase in submission volume between 2023 and 2024, and a year-over-year (YoY) increase of 75 percent in its overall book of business.

Backed by Nationwide, Primary, Prologis, and Crosslink Capital, Kinetic partners with local, regional, and national insurance agencies to provide workers’ comp policyholders with cutting-edge tech to monitor worker safety and deliver data-driven insights on reducing workplace injuries through safer practices. 

“The Novidea platform has empowered Kinetic to process more than 10,000 submissions on the platform while giving us 24/7 access to the data we need to understand our business,” said Haytham Elhawary, Co-Founder and Chief Strategy Officer at Kinetic Insurance. “The ability to access a single source of reliable data across departments and manage all of our policies and stakeholders, including insureds, brokers, and carriers, through a single pane of glass makes us more efficient, so we can scale faster and better meet the needs of our customers. We also have the ability to create an auditable system of record, keeping us in compliance with industry regulations. With Novidea serving as our foundation, we now have a modern platform on which we can build automations for future services and products.”

Kinetic previously relied on Google Sheets to manage its policy distribution lifecycle, manually tracking submissions, quotes, policies, commissions, and sales KPIs. This led to data silos, limited reporting, inconsistent submission forms, and poor audibility, which became increasingly difficult to manage as their workers’ compensation business expanded. A scalable solution was needed to support growth, improve user experience, and enhance customer service.

After a thorough review of multiple vendors, Kinetic selected Novidea as its platform because of its enterprise-grade solution that uniquely supports the workflow and data needs of MGAs and MGUs. The Novidea platform’s modular, open API architecture meant that Kinetic could implement the solution quickly, connect it to other applications and data sources, and easily adapt it to meet their needs. For example, Novidea made it easy for Kinetic to extract data to bring into other software like Tableau for visualization.

With the deployment of the Novidea insurance management platform, Kinetic now reaps the benefits of a system that offers: 

• Unified access across all departments to customer and operational data from a single source of truth
• An auditable history of all policies, submissions for Kinetic’s Nationwide partners, and all structured data
• A highly flexible, future-forward system that adapts to Kinetic’s changing operations
• A foundation on which Kinetic can build additional functionality, including building and deploying AI agents in the near future for its broker and carrier customers

Novidea’s Chief Revenue Officer, Jeff Heine, commented, “Kinetic is an innovative leader in the workers’ compensation insurance sector, bringing a modern, data-driven approach to risk product and customer service delivery. We’re honored to be their insurance management platform of choice, helping them scale their business.”

Jeff Heine, Chief Revenue Officer of Novidea, and Haytham Elhawary, Co-Founder and Chief Strategy Officer at Kinetic Insurance, will participate in a panel, “Inside the Distribution Shake-Up: How Brokers, MGAs, MGUs & Hybrid Fronting Carriers Can Win the Next Era” on October 14, 2025, at 10:30 a.m. Pacific Time at ITC Las Vegas on the ITC Brokers Stage at the Mandalay Bay Convention Center.

BOSTON—July 15, 2025—Novidea, creator of the cloud-based, data-driven insurance management platform, has been named to PropertyCasualty360’s Insurance Luminaries Class of 2025 award in the category of Technology Innovation. This is the second consecutive year that PC360 has recognized Novidea’s innovation in the property and casualty (P&C) insurance industry. The awards program spotlights top professionals, teams, organizations, programs, practices, and products within the P&C insurance sector that strive to modernize and humanize the business. 

The 2025 honorees were selected by a panel of industry experts based on how well they stated and achieved goals with regards to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the P&C insurance business; and how committed and dedicated the nominee has been to high ethical standards, service and excellence.

“Insurance is a complex and intricate industry with what seems like a million moving parts,” said PropertyCasualty360 Editor-in-Chief Elana Ashanti Jefferson. “That’s why my team and I enjoy hosting the annual PropertyCasualty360 Insurance Luminaries honor. This professional recognition program allows us the chance to spotlight companies, organizations, programs, practices, teams and individuals that truly make a difference in insurance. These honorees pay homage to the industry’s critical mission to make insureds whole after a major loss while powering forward with fresh ideas and modern tools for tackling today’s challenging business conditions.”

Novidea received top honors in the “Technology Innovation” category again this year. Novidea’s insurance management platform enables brokers, agents, MGAs, MGUs, hybrid fronting carriers, specialty and wholesale insurers to modernize and manage the insurance distribution lifecycle from lead generation and quoting to policy admin, claims, and even complex financial reconciliation. Novidea’s open API architecture streamlines processes, connects applications and systems, and delivers full integration between customer-facing policy transactions and the middle and back office. The platform eliminates data silos and creates a single system of record for data, providing powerful analytics and real-time dashboards and reports, for unprecedented visibility into performance, profitability, and key trends, allowing for data-driven decision-making.

In 2024, Novidea added to its technical innovation through the strategic acquisition of Docomotion, a cloud-based automated document management, an essential technology for document-heavy industries. Docomotion builds intuitive, no-code solutions for automated form processing, design, management, and e-signatures tailored to the business needs of insurance organizations. This includes policies, quotes, MRCs, coverslips, and binding documents, generated directly from the insurance organization’s CRM. Together, Novidea and Docomotion are streamlining insurance document management, making it more dynamic and efficient. 

“It’s an honor to be recognized by PropertyCasualty360 for the second consecutive year in a highly competitive category,” said Ido Peled, SVP Product at Novidea. “Insurance industry experts at Insurance Luminaries ranked Novidea as the top innovator, which is a testament to our product development team. Novidea is dedicated to continuous innovation, consistently adding new capabilities to deliver ongoing value to our global customers.”

BOSTON AND LONDON – April 29, 2025— Novidea, provider of the cloud-native insurance management platform for brokers, agents, MGAs, and hybrid fronting carriers, today released new insights on the evolving MGA market, spotlighting the operational challenges shaping the sector’s future. Drawing on industry research, customer feedback, and engagement with global insurance stakeholders, Novidea experts identified the critical obstacles MGAs must overcome to sustain growth.

MGAs are pivotal in bridging coverage gaps and driving market expansion. Research from Conning reveals that MGA premiums in the U.S. surpassed $102 billion, while The Actuarial Post reports $5.7 billion in the UK — marking continued momentum. However, as demand surges, MGAs have a growing business opportunity and need to navigate complexity, maintain agility, and balance growth with long-term profitability.

“MGAs play a critical role in managing emerging risks and fueling market growth, but operational inefficiencies and fragmented and/or legacy technologies continue to hinder their full potential,” said Jeff Heine, Chief Revenue Officer at Novidea. “To thrive in this environment, MGAs must equip themselves with the tools and strategies to address these challenges and seize new opportunities. Novidea delivers advanced analytics and actionable insights that translate into real-time business intelligence, enabling MGAs to drive growth.” 

Five key challenges facing MGAs today are:

1. Limited Business Insights – Poor data management, limited access to quality data and deficient reporting capabilities prevent many MGAs from gaining insights into business performance, making it hard to make smart decisions for the future, satisfy capacity providers and meet growth targets.
2. Fragmented Systems and Collaboration Challenges – Relying on disconnected platforms complicates operations, reduces collaboration, and can cause ineffective communication between insurers, brokers, and third-party solutions providers. The inability to streamline and access real-time data across departments, anytime, from anywhere can hold MGAs back from optimally managing their businesses.
3. Core Platform Limitations – Many MGAs run the risk of adopting outdated systems that lack critical functionalities and flexibility, limiting their ability to adapt to business opportunities and possibly falling behind competition. 
4. Regulatory Compliance – Keeping pace with evolving regulations introduces significant operational risks for under-resourced MGAs.
5. Need for Market Adaptability – Many MGAs lack agile workflows and tools necessary to efficiently launch new commercial lines of business and adapt to changing conditions without disrupting current operations.

MGAs must find innovative ways to overcome these obstacles while maintaining focus on client needs and market opportunities. A modern insurance management platform is essential for MGAs looking to thrive in a competitive market. These platforms enable organizations to scale efficiently, respond swiftly to market changes, and enhance service delivery, positioning them for sustained success in the evolving insurance landscape.

Novidea’s platform fully streamlines front, middle, and back offices, boosting operational efficiency while providing a seamless digital experience. MGAs can manage anything from submissions, quote-to-bind, policy issuance, and premium processing, to claims and accounting in one platform. Flexible Bordereaux production and value-driven reporting means clients can easily differentiate and demonstrate value to capacity providers and trading partners.

Novidea’s open API infrastructure means you can tailor your business by adding functionality, capabilities, and services as you grow, capitalising on a continuously evolving landscape.

MGAs benefit from a 360-degree view of any account or portfolio of business, making it easy to make fast, accurate and informed business decisions based on valuable data insights across every phase of the insurance supply chain. 

Come meet with Novidea’s experts at TIN Delegated Authority Strategy Day on 29th April in London or at Target Markets on May 6-8 in Dallas, TX.

BOSTON AND LONDON – March 19, 2025— Novidea, creator of the cloud-based, data-driven insurance management platform, announces release of a new version of its award-winning platform to further streamline processes with automation of manual processes, highlight opportunities to better sell, service, and communicate with clients, as well as deliver actionable insights for insurance organizations. Built on a flexible, cloud-based architecture, the Novidea platform delivers unmatched scalability and adaptability, ensuring brokers, agencies, MGAs and carriers can stay ahead in a competitive and ever-changing industry landscape.

Addressing challenges in insurance distribution, Novidea is focused on both global and market-specific innovations.  Customers benefit from improved compliance and financial controls, enhanced claims processing, and streamlined policy management, driving a new level of efficiency, while enabling insurance organizations to deliver a world-class customer experience.

Some highlights of the new capabilities include:

• Enhanced 360 Degree Account View – A complete real-time view of each client, including live policy information and claim statuses shared seamlessly across account teams. 
• Smarter Policy Management – New risk limits and excess functionality make handling complex policies easier, while centralized tax and deduction management reduces errors.
• Faster Claims Processing: Advanced CLASS messaging streamlines claim signing, enhances error handling, and facilitates compliance, reporting and tracking across multiple markets.
• Optimized Insurance Broker Accounting (IBA): A refined ledger view with dynamic filtering and advanced reporting enables financial oversight, faster reconciliation, and strengthens control over transactions.
• Actionable Intelligence: Real-time insights into potential exposure to losses (including CAT) by account, geography, trading partners, etc.

Additional features include comprehensive fee transaction support for broker-to-underwriter payments, which foster flexibility in financial workflows as well as the ability to handle manual aggregation of premium and claims data for more accurate financial reporting.

“Novidea maintains an innovative technology mindset and draws from our deep knowledge of the insurance industry. It is important to us to incorporate the feedback from our customers across the globe, so that we deliver a solution which addresses their challenges,” said Ido Peled, SVP Product at Novidea. “With each new version of our insurance management platform, we strive to empower our customers to make smarter, data-driven decisions, provide best-in-class customer experience, and grow their businesses.”