Novae insurance case study
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Novae Insurance Company chose Salmon's web-based underwriting solution RiskWrite to provide the foundation for effectively delivering its services. Salmon designed and implemented the best-of-breed platform within 6 weeks. Outsourcing to Salmon proved very cost effective and helped Novae be successful in its first year of trading by streamlining processes and allowing access from any place at any time. An independent review found RiskWrite came out extremely well in all areas such as quality of code and value for money.
Novae insurance case study
- 1. Case Study Novae chooses Salmon for best-of-breed web-based underwriting solution Salmon design and implement best-of-breed underwriting platform, to provide Novae the foundation from which they can effectively deliver their services. Novae Insurance Company (Novae) is a wholly owned subsidiary of Novae Group plc. Novae’s mission is to provide the London and regional markets with superior underwriting and first-class service levels. Providing a range of specialist insurances to clients based predominantly in the UK and Europe. “We selected RiskWrite™ Challenge because it helped us Set up in December 2003, Novae began underwriting in January 2004. Being a start up business, it was imperative to Novae that the differentiate our business. technology behind their underwriting process was best-of-breed, as it RiskWrite™ was designed with would provide the foundation from which they would effectively deliver the web in mind and Salmon’s their services and support them in establishing themselves in the UK. Novae wanted to eliminate the manual paper-based processes normally experience of delivering award associated with underwriting and implement an end-to-end web-based winning eCommerce solutions solution that would streamline processes, speed applications processing combined with their knowledge and keep costs low. The solution needed to offer them all the functionality of the Insurance market gave to run their business, fully integrate with business critical systems and be internet based – allowing access from any place at any time. us the confidence that they would be the right partner Solution to support us.” Novae considered a number of solutions from established providers and selected Salmon and their web-based underwriting solution RiskWrite™ IT Director, Novae Insurance as their underwriting solution of choice. Novae outsourced all of the IT development, implementation and support to Salmon who provided: The underwriting solution (RiskWrite™). Infrastructure management and resources. Implementation services. Hosting. Training. Application management and support (November 2009, strategic partnership extended for a further three years).
- 2. Benefits The solution was up and running within 6 weeks. Outsourcing to Salmon has proved very cost effective and was considered as one of the reasons Novae were so successful in their first year of trading. Novae’s unique solution delivers the following benefits: Flexible product definition. Web based access. Dedicated broker portal. Sophisticated rules engine. Document generation & repository. Secure document management. Bureau message integration. In March 2007, Novae commissioned an independent Application Review of RiskWrite™. The review looked at the architecture, infrastructure, source code, documentation and system handover process. Novae were delighted with the results as RiskWrite™ came out extremely well in all areas, especially quality of code and value for money. About Salmon Salmon is a highly innovative global systems integrator whose commitment to on-time, on-budget projects is increasingly embraced by the leading names in retail, insurance and financial services markets. Since 1989, leading brands have been turning to Salmon for its ability to build, integrate and support business-led systems that add measurable competitive value to their day-to-day operations – and to their bottom line. Salmon quickly understand business needs, creates realistic development schedules, and efficiently delivers solutions to plan; based around an ethos that marries a depth and breadth of development skills, with a management process that removes virtually all risk from successful project roll-outs. Customers include Argos, Boots, Bristol & West, Halfords, Novae, Swiss Re and W.R. Berkley. Salmon is headquartered in Watford, Hertfordshire and has offices in the US, China and Australia. For more details about Salmon visit www.salmon.com. Salmon Limited 64 Clarendon Road • Watford • Herts • WD17 1DA Tel: +44 (0)1923 320000 • Fax: +44 (0)1923 320023 • Email: info@salmon.com www.salmon.com *All rights reserved. All company and product names, brands and symbols mentioned herein are brand names and/or registered trademarks of their respective owners.