Novidea, the creator of a born-on-the-cloud, data-driven platform optimizing the entire insurance policy and distribution lifecycle, has partnered with Certificial, a Certificate of Insurance (COI) platform, to transform the legacy process of COI issuance.
Certificial’s platform uses real-time data to ensure business have continuous, compliant coverage in the insurance verification process. By combining certificate issuance and compliance management into one simple platform, Certificial said this eliminates risk, ensures compliance, and reduces costs for every stakeholder in the COI process.
The partnership will see Certificial’s COI work natively in the Novidea agency platform, to make certficiate issuance more seamless and efficient.
Novidea said agents will benefit from real-time access to the most current COI on file. In addition, the company said its user will eliminate 90%of the time they spend issuing and managing COIs, without leaving the Novidea platform. Further, commercial lines policyholder will also benefit by gaining access to the most up-to-date COI at all times, enabling them to deliver an improved customer experience and access to modern technology through their Novidea agent or broker.
The full integration with Certificial is scheduled to go live for Novidea customers in the third quarter of 2022.
Eric Ayala, SVP and GM of Novidea, said, “Novidea has always focused on embracing strategic technology partnerships that improve our customer experience.
“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.”
Novidea had a strong 2021, doubling its operations due to increase global demand for brokers, agents and MGAs. Novidea said this was in part due to forward-looking businesses increasingly moving to cloud-based solutions that enable them to automate processes, reduce costs, and increase resilience, agility, and competitiveness.
Copyright © 2022 FinTech Global
