12 May 2022 – London, UK – Novidea today announces that it has partnered with the UK’s leading jewellery insurance broker, TH March, to implement its born-in-the-cloud, data-driven insurance platform. The platform will manage their complete end-to-end customer journeys for both high volume personal lines and large complex commercial risks placed into the London Market, all on one platform, with an integrated customer self-service portal.
Further, around two thirds of TH March’s growing personal jewellery insurance products are currently arranged by its call centre and a third via online enquiries. The new Novidea online portal will invert this to two thirds portal and one third call centre, so that TH March’s professional team can focus their efforts on High Net Worth and more complex accounts, with enhanced customer experience and operational efficiencies for both existing personal and business customers.
Andrew Alcock, Chief Operating Officer, TH March said: “We selected Novidea as we were keen to work with tomorrow’s technology. Looking ahead, Novidea’s cloud-based customer service portal will give us the edge to ensure we retain our market-leading position, by giving both our personal lines and business customers a much- enhanced customer experience and more efficient service, which is so important in today’s on-demand world.
“Although we were established in 1887, we have always been an innovative business. Novidea’s platform will be transformational, with all our six UK offices moving away from siloed legacy systems to one shared, data- driven platform, with integrated customer and business data and Management Information.”
Ben Potts, MD, UK, Novidea said: “Historically, the insurance market has been encumbered by legacy systems that are difficult and expensive to update, with limited access to real-time Management Information. Today, forward- looking businesses, like TH March, are increasingly moving to cloud-based platforms that enable them to automate processes, reduce costs, add agility, and boost customer service standards.”
The portal will ultimately enable TH March customers buying their March Plus product to manage all aspects of their insurances securely online, including policy information, mid-term adjustments, claims, renewals, contact details, and more. The portal will seamlessly integrate with Novidea’s end-to-end insurance platform, so that TH March’s team has access to live customer data from first enquiry to quote and bind, and claims.
Further, Novidea has partnered with Polaris, whose imarket product and digital trading standards are used market-wide by insurers, brokers, and software houses. This will enable TH March to offer major customers a one-stop shop for all their insurance needs, complimenting complex jewellers block risks placed via Lloyd’s and the London Market with e-traded cyber business insurance products.