Novidea commits to London as centre of global growth

Novidea, the creator of the cloud-native, data-driven platform that aims to optimise the entire insurance policy distribution lifecycle, has opened offices in the City of London.

The new offices, in the landmark building known as the Gherkin, highlight the importance of the London insurance market as a platform for growth in the UK and internationally, Novidea said.

The company supports more than 100 customers, including agents, brokers, MGAs, and the London Market, managing more than 22 million policies across 20 countries, worldwide.

Customers – brokers, insurers, and MGAs – are increasingly demanding digitalisation solutions and e-trading to remain competitive and profitable. Novidea said it is expanding to meet this demand.

The global InsurTech recently expanded its team with the appointment of Adam Glasby as one of its new programme managers. This move will help to support Novidea’s growing team, which has doubled in size over the last year, to better serve existing clients, as well as support further ambitious growth targets as it aims for continued expansion in the London, UK, and international markets.

Novidea’s CEO, Roi Agababa, launched the new office at a “spectacular party” for staff and partners last week. Commenting on the move, Agababa said, “Novidea has enjoyed rapid expansion over the last few years and we decided to commit to London as our centre for international growth, mirroring 300 years of history and heritage in the great London Market.”

Ben Potts, UK MD, Novidea, added, “Novidea is an ambitious, fast-growth business and our team has a long heritage of success in the sector. Our willingness to shake up the status quo with our cloud-native, data-driven insurance platform has brought us some big Tier 1 brokers, MGAs, and insurer client wins. This, along with future growth projections, necessitates our move.”

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.