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Founded Year

2009

Stage

Series B - II | Alive

Total Raised

$30M

Last Raised

$15M | 1 yr ago

Mosaic Score

+80 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Novidea

Novidea is a data-driven platform provider for the insurance industry. Novidea's end-to-end platform provides real-time business intelligence and seamless workflow management for brokers, agents, MGAs, bancassurance and corporate risk management.

Novidea Headquarters Location

4 Arie Regev St.

Netanya, 4205212,

Israel

+972 (0)74 703 8300

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Novidea's Products & Differentiation

See Novidea's products and how their products differentiate from alternatives and competitors

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Expert Collections containing Novidea

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Novidea is included in 1 Expert Collection, including Insurtech.

I

Insurtech

3,484 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

Latest Novidea News

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

Sep 21, 2022

Share 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. 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.”

Novidea Web Traffic

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Page Views per Million (PVPM)
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Novidea Rank

  • When was Novidea founded?

    Novidea was founded in 2009.

  • Where is Novidea's headquarters?

    Novidea's headquarters is located at 4 Arie Regev St., Netanya.

  • What is Novidea's latest funding round?

    Novidea's latest funding round is Series B - II.

  • How much did Novidea raise?

    Novidea raised a total of $30M.

  • Who are the investors of Novidea?

    Investors of Novidea include KT Squared, 2B Angels, JAL Ventures, Israel Growth Partners and Salesforce Ventures.

  • Who are Novidea's competitors?

    Competitors of Novidea include Audeamus Risk and 1 more.

  • What products does Novidea offer?

    Novidea's products include gg.

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