Novidea Partners with Certificial for Smart Certificate of Insurance Issuance to Create the Next-Generation Agency Management System
Partnership enables a true digital experience for all stakeholders in the certificate of insurance process
Boston — June 22, 2022 – Novidea, the creator of a born-on-the-cloud, data-driven platform optimizing the entire insurance policy and distribution lifecycle, and Certificial, the Smart COI Network™ that is transforming insurance verification with real-time data, today announced a new technology partnership to transform the legacy process of certificate of insurance (COI) issuance into a seamless, fully digital experience.
Through this partnership, Certificial’s Smart COI works natively in the Novidea agency management platform, making the necessary function of certificate issuance seamless and more efficient. Agents will benefit from real-time access to the most current COI on file. Novidea users will eliminate 90% of the time they spend issuing and managing COIs without ever leaving the Novidea cloud-based platform. Commercial lines policyholders will benefit as well by gaining access to the most up-to-date COI at all times, delivering an improved customer experience and access to modern technology through their Novidea agent or broker.
For Certificial, the partnership with Novidea for certificate issuance strengthens their Smart COI Network and will have a trickle-down effect that positively impacts their network of agents, brokers, MGAs/MGUs, wholesalers, carriers, policyholders, and certificate holders. This partnership furthers Certificial’s mission to transform insurance verification for all stakeholders in the COI process.
“Certificial is thrilled to partner with Novidea, a company that shares many similar values with us,” said Peter Teresi, CEO and Co-Founder of Certificial. “Both Novidea and Certificial are working to drive innovation in the insurance industry through technology and partnerships, and we’re proud that Novidea chose us to be their partner for native certificate issuance.”
“Novidea has always focused on embracing strategic technology partnerships that improve our customer experience,” said Eric Ayala, SVP and GM of Novidea. “Certificial is a natural fit for us. This partnership exemplifies our ecosystem approach using best-of-breed technologies and leveraging our open API infrastructure. We are proud to have them as an added value service to create the next-generation agency management system and transform the legacy process of certificate insurance.”
The full integration with Certificial is scheduled to go live for Novidea customers in the third quarter of 2022.
Certificial is the leading, dynamic Certificate of Insurance (COI) platform that is transforming the insurance verification process by using real-time data to ensure businesses have continuous, compliant coverage. By combining certificate issuance and compliance management into one simple platform, Certificial eliminates risk, ensures compliance, and reduces costs for every stakeholder in the COI process. Unlike other solution providers in this space, Certificial encompasses the entire process of creating and distributing smart COIs by enabling agents and insureds the ability to provide third parties with continued access to coverage information, acting as an extension of the system of record to certificate holders. Cofounded by the former Chief Technology Officer of ACORD and backed by top investors, Nationwide, IA Capital, Fin VC, Cameron Ventures, and Cofounders Capital, Certificial is driving the future of digital insurance verification with their Smart COI Network™.
Novidea is a leading provider of the only born-on-the-cloud, data-driven insurance platform that enables brokers, agents, and MGAs 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 Salesforce’s Big Technology, provides a complete ecosystem spanning every aspect of an insurance business. The platform’s AI technology provides a 360-degree view of the customer and all stakeholders, enabling full integration between customer-facing policy transactions and the middle and back office. Brokers, agencies, and MGAs extract more value from their customer and policy data with actionable intelligence from any device, anywhere. Novidea turns data into insight at the point of need, enabling better-informed decisions and delivering greater customer value through products and services tailored to individual needs. Novidea, a member of MGAA and an ACORD partner, supports more than 100 customers, including agents, brokers, MGAs, and the London market, managing more than 22 million policies across 20 countries. For more information, please go to: www.novideasoft.com
For further information contact
Chameleon Collective for Novidea U.S.
T: +1 (603) 809-2748
Simon Hayes, Managing Director
M: +44 (0)777 1516544