London, UK –News Direct– Novidea Novidea , creator of the cloud-based, data-driven enterprise insurance management platform for brokers, agents, MGAs/MGUs, and carriers, today announces its launch into the Southeast Asian market, starting in Hong Kong and Singapore. This geographical expansion supports Novidea’s strategy to become the leading provider of core platforms for insurance organisations, worldwide. According to analytics specialist GlobalData, Singapore’s general insurance industry is set to grow by 7.2% by 2026, fuelled by private health and major infrastructure projects. The firm forecasts that the industry in the region will grow from US$3.5bn in 2021 to US$5.1bn in 2026. “At Novidea, we are seeing an urgent demand from global brokers in Southeast Asia for a single integrated, global, cloud-based insurance management platform,” said Roi Agababa, CEO, Novidea . “Southeast Asia is embracing digital transformation in terms of insurance technology, and many businesses are seeking specialist digitalisation solutions to remain competitive and profitable.” Findings from a global survey commissioned by Novidea this quarter demonstrate that Singapore insurance organisations experience challenges with their existing technology, the most prevalent being the cost of upgrades, data silos, and high implementation and maintenance costs. Ben Potts, UK and International MD, Novidea , who is […]
Novidea launches insurance management platform in SE Asia to meet escalating demand for digital transformation
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