Novidea celebrates continued global momentum in 2022 with 90 percent YoY business growth and achieves 139 percent net customer retention
BOSTON and LONDON, Feb. 22, 2023 /PRNewswire/ -- Novidea, creator of the data-driven, cloud-native insurance platform that enables brokers, agents, and MGAs to reduce costs and drive growth across the distribution lifecycle, today announced the achievement of several significant growth milestones in 2022. In 2022, Novidea experienced 90% Year over Year (YoY) business growth, winning deals with top-tier customers from the ranks of the leading brokers and agencies in the world. The momentum indicates the increased demand for cloud-native core solutions that help insurance agencies, MGAs, and brokers digitally transform their businesses to get in front of the competition.
"We continue to see global insurance agents, brokers, MGAs, and MGUs accelerate their digital transformations to serve their policyholders better, navigate market disruptions, and empower their people," said Roi Agababa, CEO of Novidea. "The ability to access real-time data is the key to transformation for these organizations — financial, operational, and customer data. The Novidea platform brings all of these data sources together in one place, giving our customers a single source of truth from which they can gain a deeper understanding of their business. In the coming years, Novidea is looking forward to providing even more value to our customers as they continue to transform their organizations."
Other key 2022 milestones for the company include:
Novidea is the leading Insurtech provider of a cloud-native, data-driven insurance management system. Using an open API architecture, Novidea's software platform 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, including a 360-degree view of the customer and all stakeholders, an integrated 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 supports more than 100 customers, including agents, brokers, MGAs, and the London market across 22 countries.
For more information, please go to: www.novidea.com
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