Specialty Insurance Broker Replaces Three Separate Applications with a Single, End-to-End Insurance Management Platform to Improve Operational Efficiencies and Enable Seamless Access to Data
Novidea, creator of the cloud-based, data-driven enterprise insurance management platform, today announced that Atlantic Global Risk, a specialty insurance broker focused on designing complex insurance products for legal, tax and credit risks, is now live on its innovative insurance platform to improve data quality and achieve operational efficiency across the entire organization.
Before implementing the Novidea platform, Atlantic Global Risk relied on multiple applications to handle a variety of processes. They used a CRM solution to maintain sales leads, an enterprise cloud platform to manage associates, policies, and documentation, and an agency management application to manage invoices and customer records. Not all of these were designed for the insurance industry, meaning Atlantic couldn’t customize them specifically for their business needs. The myriad of applications also resulted in data silos across functions and departments, requiring employees to re-key data and thus expend resources on redundant tasks.
“As one of the fastest growing specialty brokers in the US, our staff’s deep knowledge and expertise is our differentiator. However, disconnected applications not designed with insurance in mind and inefficient, repetitive processes based on inconsistent data kept our experts from adding more value and giving data-based guidance to our clients. With Novidea, we finally have the technology we’ve been looking for to build upon, scale, and maintain one central repository for all critical information workflows,” said David Haigh, Founding Partner at Atlantic Global Risk. “Novidea is helping us to manage our data and customer relationships with more granularity, better reporting, and more impact. By removing information silos, we have attained greater visibility and access to higher quality data empowering our people to accelerate processes and to provide our clients with better service.”
Novidea’s insurance management platform is an intelligent, cloud-native, data-driven platform for brokers, agencies, wholesalers, and MGAs. Its award-winning technology drives efficiency across every stage of the insurance policy distribution lifecycle – from lead to quote to bind to claims. This allows organizations like Atlantic to scale their business with a comprehensive, 360-degree view of all their customer and operational data. Novidea’s platform seamlessly connects Atlantic’s front, middle, and back offices.
“Our research shows that insurance organizations are juggling an average of five different technology solutions that power various aspects of their business. This approach creates data silos, holding them back from making better business decisions. It’s why 75% of these businesses say they will change their insurance management technology by 2025,” said Eric Ayala, Managing Director of Americas for Novidea. “We’re honored to be the insurance management platform of choice for Atlantic as they continue to streamline efficiencies and deliver a world-class customer experience.”
Novidea experts will be demonstrating the platform’s value and capabilities at this year’s WSIA and Target Markets insurance industry events.
About Novidea
Novidea is the leading Insurtech provider of a cloud-native, data-driven insurance management system. With its open API architecture, Novidea enables brokers, agents, MGAs, and carriers to modernize and manage the customer journey end-to-end and drive growth across the entire insurance distribution lifecycle. Novidea’s streamlined and automated platform fully integrates front, middle, and back offices. The Novidea platform boosts operational efficiency while providing a seamless digital experience for team members and customers alike. Insurance businesses benefit from a 360-degree view of customers and policies and can access data and actionable insights anytime, anywhere, and on any device. Novidea supports more than 100 customers across 22 countries. For more information, please go to: www.novidea.com
About Atlantic Global Risk
Atlantic Global Risk is a specialist insurance broker focused on structuring insurance policies that transfer complex legal, tax and credit risks to the insurance market. Atlantic’s insurance solutions are typically utilized to facilitate deal-making where certain risks otherwise prevent efficient economic and/or commercial alignment in a transaction (i.e., M&A, financing, distribution, liquidation, restructuring). Examples of Atlantic’s core products include representations and warranties insurance (RWI), tax liability insurance, contingent risk insurance, and credit/non-payment insurance. Atlantic has a team of 85+ individuals across nine offices throughout North America. For more information, please go to: www.atlanticgrp.com
