Amnon Gur, which is part of the Gur Insurance Group, has increased its new policies by 30% and renewals by 20% following the implementation of Novidea’s broker platform.
Gur is one of the largest independent insurance brokers in Israel and is an open market correspondent authorised by Lloyd’s.
It places 70% of its specialist business into the Lloyd’s market and offers solutions for risks, including casualty, D&O, professional and product liability, cyber insurance, clinical trials and more.
Prior to implementing Novidea’s solution, Gur claims its data was fragmented across its business and was not able to complete real-time reporting or mobility of information.
By leveraging Novidea’s platform, the company has accelerated its digital transformation. Its cloud-based technology also helped remove IT expenditure and ease the scaling of capabilities in the future.
GUR CFO Barak Sendler said, “As an independent broker, we are able to objectively recommend to our customers the products best suited for them. However, with the systems that we had in place we didn’t have a full picture of the customer—what they already have, what they need, or how we can improve their insurance coverage or pricing. This led to missed opportunities.
“Novidea has changed that, for the better, which has enabled us to cross-sell and up-sell to our clients based on their individual business needs and risk profiles. In one division, we increased the number of new policies by 30%, without the need to increase staff, and renewals are up 20%. This has been a game-changer that has enabled us to increase sales and improve customer retention, as true risk advisors.”
The Novidea platform has also helped automate processes around document tracking to reduce errors and time consumption. It also helped the company with live business data and analytics to improve insights and intelligence within the firm
Novidea CEO Roi Agababa said, “Gur is the perfect customer for Novidea, as their philosophy is ustomercentred; now with Novidea their technology is too. We are proud to say that with increased sales and client retention, and enhanced operational efficiencies their costs have been recouped within the first year of implementation.”
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