Kinetic Insurance Brokers, a US-based managing general underwriter, has adopted Novidea’s cloud-native insurance management platform to modernize operations and expand capacity.
The shift replaces the company’s manual, spreadsheet-driven workflow with a centralized, real-time system.
The insurer selected Novidea after a competitive vendor review, citing the platform’s modular architecture, open APIs, and rapid deployment capabilities.
The system connects seamlessly to external tools like Tableau, creating a single source of truth for all departments and supporting compliance through an auditable record of activity.
Before the transition, Kinetic managed its entire policy lifecycle in Google Sheets, tracking submissions, renewals, and commissions in fragmented files. This approach slowed reporting, created data silos, and reduced operational visibility.
By moving to Novidea, Kinetic increased submission volume by 24% from 2023 to 2024 and grew its book of business by 75% year over year.
The platform now supports more than 10,000 processed submissions and provides around-the-clock access to actionable data. It enables the company to manage insureds, brokers, and carriers through a unified dashboard, streamlining workflows and improving decision-making.
Kinetic plans to use the system as a launchpad for upcoming products and services, including AI-driven tools for brokers and carriers.
The company’s investor base includes Nationwide, Primary, Prologis, and Crosslink Capital. Its network of partner agencies spans the US, delivering safety-focused, data-backed solutions to workers’ compensation policyholders.
Kinetic Insurance co-founder and chief strategy officer Haytham Elhawary said, “The Novidea platform has empowered Kinetic to process more than 10,000 submissions on the platform while giving us 24/7 access to the data we need to understand our business”.
The ability to access a single source of reliable data across departments and manage all of our policies and stakeholders, including insureds, brokers, and carriers, through a single pane of glass makes us more efficient, so we can scale faster and better meet the needs of our customers.
Haytham Elhawary, Kinetic Insurance co-founder
“We also have the ability to create an auditable system of record, keeping us in compliance with industry regulations. With Novidea serving as our foundation, we now have a modern platform on which we can build automations for future services and products.”
In 2024, Insurtech Novidea has raised an additional $30 mn funding from HarbourVest Partners. The investment brings Novidea’s total Series C funding round to $80 mn, with participation from existing investors Battery Ventures, Cross Creek, Israel Growth Partners (IGP), KT Squared, and JAL Ventures.
Novidea is a data-driven insurtech platform that leverages the power of the Salesforce cloud ecosystem to transform the insurance industry.
In 2023, Novidea has raised $50 mn in its latest round of funding led by Battery Ventures. Funding from Battery Ventures represents new investment in Novidea and was supplemented by Cross Creek, another first-time investor in the insurtech. The $50m invested in Novidea comes after the company reported a 90% growth rate year-on-year, with a net revenue retention rate of 139%.
Built specifically for insurance brokers and agents, Novidea provides a comprehensive suite of tools that cover the entire customer journey, from initial engagement through underwriting to claims management and customer retention.
