Novidea's Insurance Distribution Platform Selected by Mivtach Simon as Part of Digital Transformation Strategy

The project will centralize operational and service processes, boost efficiencies, turn data into actionable insights, and enhance customer services

LONDON, BOSTON and TEL AVIV, Israel, Aug. 16, 2023 /PRNewswire/ -- Novidea, creator of the cloud-based, data-driven enterprise insurance management platform for brokers, agents, MGAs/MGUs, and wholesalers, today announces that it has been chosen by Mivtach Simon, a subsidiary of Migdal Insurance Agencies in Israel, as technology partner to implement its insurance distribution platform.  

Mivtach Simon is Israel's largest insurance, pension and financial planning company, providing technological services to Migdal Insurance Agencies, including Sagi Yogev and Shacham-Orlan. As part of an extensive digital transformation program led by Chief Information Officer at Migdal Insurance Agencies, Ilanit Hazan, Novidea's insurance management platform will centralize the agencies' operational and services processes.

This partnership is an expansion of a series of strategic collaborations between Novidea and Migdal Insurance Agencies in recent years, and now includes property, casualty and life insurance, as well as expansion into additional agencies such as Peltours, Peltours-Berman, and Shacham-Orlan.

Leor Raviv, CEO of Mivtach Simon, said: "Choosing Novidea is part of a comprehensive and extensive process of technology upgrades that we are currently undertaking. Over the last year, we have formulated a strategic plan for the company based, among other things, on substantial technological advancements. The move will allow us to improve our customer service, shorten work processes, and give a much better experience to the customers and employers in our care."

Roi Agababa, CEO of Novidea, said: "We are happy to embark on the digital transformation journey together with Mivtach Simon, part of the Migdal Group. This collaboration will allow Mivtach Simon to easily and efficiently turn data into insights to reach more informed business decisions, while offering an exceptional user experience for their customers."

Ilanit Hazan, Chief Information Officer at Migdal Insurance Agencies, commented: "We are excited to strengthen and deepen the cooperation with Novidea. Its advanced platform allows us to promote a complete digital transformation of all the organization's systems, in a way that is adapted and fine tuned to our specific needs. With Novidea, we will improve efficiency and operational processes throughout the entire organization."

About Mivtach Simon

Mivtach Simon is fully owned by Migdal Insurance Company Ltd., and specializes in managing pension plans, health insurance, finance and investments, as well as other lines of business. The company's annual collection revenue is estimated at approximately NIS 8 billion. It provides services to approximately 400,000 policyholders and approximately 6,000 employers, organizations, and companies that are part of the Israeli economy.

About Novidea

Novidea is the leading Insurtech provider of a cloud-native, data-driven insurance management system. Using an open API architecture, Novidea's software platform enables brokers, agents, MGAs, and carriers to modernize and manage the customer insurance journey, end-to-end, and drive growth across the entire insurance distribution lifecycle.

The Novidea platform, built to leverage the power of Salesforce's Big Technology, provides a complete ecosystem spanning every aspect of an insurance business, including a 360-degree view of the customer and all stakeholders, an integrated customer-facing policy transactions, and the middle and back office.

Brokers, agencies, and MGAs extract more value from their customer and policy data with actionable intelligence from any device, anywhere. Novidea supports more than 100 customers across 22 countries.

For further information, contact:

Aviad Horowitz
Extramind PR (Israel media contact)
[email protected]
T: +972-52-458-2228

Simon Hayes (UK media contact)
NextGen Communications
[email protected]
M: +44 (0)7771 516544

Michelle Barry
Chameleon Collective (US media contact)
[email protected]
T: +1 (603) 809-2748

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SOURCE Novidea