Case Study: Howden speeds guarantee processing and gains financial transparency with Novidea

Howden transforms its guarantees business with novidea platform

Howden, a specialist insurance company, faced significant challenges in its Guarantees division due to its reliance on an insurance partner's outdated, manual systems. This dependency caused policy creation to take several weeks and created a lack of financial transparency into premiums and commissions. To address this, Howden implemented the cloud-based Novidea broker management platform to streamline and digitize its operations.

The Novidea solution involved moving the entire policy creation and data processing workload onto its single platform. This shift dramatically accelerated processes, with policy production time reduced from 15 minutes to 30 seconds and the entire binding process cut from a week to just two hours. Novidea provided Howden with real-time financial reporting and transparency, saving at least 70% in processing time and enabling significant new cross-selling opportunities with its customer database.

Howden

Meir Mallel

Head of the Guarantees Business