by –News Direct–
Novidea, creator of the cloud-based, data-driven enterprise insurance management platform, today announced that Pathpoint, the modern wholesaler where insurance agents can get bindable small commercial Excess & Surplus (E&S) quotes in just a few minutes, has increased its number of registered agents to over 14,000 and grown its submission volume by 20% compounded monthly since becoming a Novidea customer.
Thousands of insurance agents use Pathpoint to quote, bind, issue, pay, and manage non-admitted risks in minutes, bind coverage, and have policies issued all in one place, with 24/7 access. Founded in 2017, the fast-growing E&S wholesaler prides itself on its customer responsiveness, diversity of coverage, data-driven decision-making, and ability to scale. Aligned with this high standard, Pathpoint is leveraging Novideas cloud-based insurance management platform to deliver near-instant quotes in a seamless digital experience. Its underwriting and sales teams rely on the Novidea platform daily to turn around bindable quotes with the click of a button.
We evaluated other platforms, but Novidea was the only insurance management solution that fit our unique needs, said Ralph Blust, president and chief revenue officer at Pathpoint. Novidea enabled the integration of data and applications across our underwriting, account, sales, and operations teams, so everyone accesses a single source of accurate information. The ability to connect the front, middle, and back offices and streamline workflows has empowered us to deliver a winning customer experience. That has made all the difference, as we have added more than 7,000 retail agencies and increased the number of submissions to more than 4,000 per month. Novidea helped us achieve greater efficiency at scale, greatly contributing to our remarkable growth over the last four years.
Novidea helps insurance organizations like Pathpoint gain a competitive advantage by streamlining and automating workflows, eliminating the need for agents and support staff to complete repetitive tasks, such as data entry, and increasing data accuracy. Operational efficiency can be achieved with the consolidation of approval processes, next level task management capabilities, and reduced busywork.
Pathpoint is evolving the E&S sector with their modern approach to service delivery," said Eric Ayala, managing director, Americas at Novidea. "They bring great value to their clients, saving them time and money. Their insurance management platform needed to deliver the same for their business. We're honored to be Pathpoints insurance management platform of choice and look forward to their next exciting growth milestone.
Learn more about the Novidea enterprise insurance management platform live at InsureTech Connect 2023, October 31 – November 2, 2023, at the Mandalay Bay, Las Vegas Booth #2320.
About Novidea
Novidea is the leading Insurtech provider of a cloud-native, data-driven insurance management system. Using an open API architecture, Novideas software platform enables brokers, agents, MGAs, and carriers 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 Salesforces Big Technology, provides a complete ecosystem spanning every aspect of an insurance business, including a 360-degree view of the customer and all stakeholders, enabling full integration between customer-facing policy transactions and the middle and back offices. 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 across 22 countries.
For more information, please go to: www.novidea.com
About Pathpoint
Pathpoint is the modern wholesaler where insurance agents can get bindable small commercial E&S quotes in just a few minutes. We combine proprietary technology and first-class service to enable strategic partners to give retail insurance agents fast access to quotes from multiple, A-rated carriers in the Contractors, Vacants, Lessor's Risk, Monoline Property, Restaurants, and Cyber verticals. Pathpoint is licensed in all 50 states and a coverholder at Lloyd's of London. To learn more about Pathpoint, and becoming a strategic partner, visit http://www.pathpoint.com.
Contact Details
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Michelle Barry
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View source version on newsdirect.com: https://newsdirect.com/news/eands-insurance-wholesaler-pathpoint-achieves-20-percent-policy-submission-growth-with-novidea-999303676
Novidea
COMTEX_442718838/2655/2023-10-31T07:59:16
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
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