Paul Richmond – Novidea – Insurtech Insights Europe 2023

At Insurtech Insights Europe 2023, we were joined in the JobsOhio lounge by Paul Richmond, Product Manager at Novidea. Novidea’s insurance distribution platform is built to digitalise insurance businesses by fuelling rapid growth, optimising customer experience and gleaning real-time insights & actionable intelligence. 

“The first thing would be the end policyholder. So going on to our website, it’s branded for that customer quote and buying journey. Taking that policy documentation and then behind the scenes you’ve then got the actual Novidea client doing the administration of that policy and then you’ve also got the underwriting function that will be set in London.”

“So the Novidea platform will have different components. One will be a flexible, outward-facing product for the customer. Then you’ve kind of got the back-end engine which is for rating, managing your products, managing your questions set. Then you’ve also got the financial element which is kind of like once you’ve processed that policy. We call it the ledger, the financial transactions and managing that and communicating with the underwriters in London.”