Back Office Built for Full Insurance Policy Management and Business Optimisation
All data is seamlessly passed into Novidea’s back office, where a policy is automatically created with all associated documentation. This enables the entire lifecycle of the policy to be managed including endorsements, MTAs, claims, financial accounting, and reporting.
Manage policy administration
Novidea’s insurance software platform simplifies document creation and management across the full insurance lifecycle and for all lines of business, from P&C, specialty, retail, and wholesale.
An intuitive workflow system means information is only entered once before being automatically moved through the process with no risk of costly rekeying errors.
Data Analytics
360˚ View Of Your Insurance Portfolio
- In-built reporting tool
- Drill-down dashboards
- Automated customer intelligence insights
Review and resolve
claims with ease
With powerful claims functionality—including full management of the claim, reserves, movements, and settlement process—Novidea’s insurance back office software platform gives you instant access to each customer’s claim history through an easy-to-use, intuitive dashboard. The claims management solution also allows for compliance with international data standards.
Boost renewal incomes
When it comes to renewal, many legacy platforms do not have the intelligence to maximise retention and increase customer value. Novidea’s insurance policy management system automates and tracks the entire renewal process, providing reminder alerts and highlighting opportunities to cross- and up-sell to customers based on similar customers’ needs.
A model financial module
Novidea’s out-of-the-box financial module acts as a dynamic, dual-entry ledger for your insurance transactions, offering rich functionality that streamlines the financial management of your policy portfolio. Automated currency conversion, cash matching, and pre-built reports (client money calculation, trial balance, accounts statements, etc.) take the pain out of running the money side of your business.
As a cloud-based solution, it’s quick, easy, and cost effective to upgrade to cover any future process developments and stay compliant with regulatory changes.
Accounting and settlement
Novidea integrates your general ledger and enables you to manage premium collections, settlements, the month-end close process, and mid-term adjustments.
