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Novidea Enhances Low-Code Automation Features to Empower Insurance Agencies, Brokers, MGAs and Wholesalers to Deliver Seamless Digital Experience for Customers

Novidea, the creator of the cloud-native, data-driven insurance Agency Management System (AMS), announced significant new enhancements to its low-code automation rules engine. These enhancements will empower independent agents, brokers, managing general agents (MGAs) and wholesalers to work smarter and more efficiently, while providing a great customer experience.

Each insurance policy transaction involves multiple functions and processes that carry out specific tasks across an MGA’s or agency’s front, middle and back offices. Each of these tasks involves rules, regulations, and agency policies that drive decision-making for agents and their customers. Novidea’s newest system upgrade includes dynamic questionnaires based on the specific rules for each customer, enabling agents to reduce manual intervention. This low-code approach to automation results in less time on repetitive tasks for agents so they can focus on what they do best: servicing clients and finding more ways to maximize profits for the business.

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With the new rules engine update, the Novidea platform:

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  • Calculates premiums and assesses risk based on responses to the dynamic questionnaire and generates a quote
  • Streamlines the quote and bind process, saving time and costs for agents
  • Provides dynamic accounting behavior enabling agencies to tailor their specific financial workflows to address their bespoke processes

“Speed to market is vital for insurance businesses to stay competitive. Embracing automated technology improves efficiency and allows them to match digital experiences with carriers,” said Sharone Volk, Novidea VP Product. “This, combined with our open API architecture built on Salesforce, delivers a cloud-based agency management solution that transforms how agents manage the insurance distribution lifecycle.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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