Novae continue to deliver business to market at speed with multi channel underwriting system, RiskWrite Sabrefish’s solution enables Novae to create new products in house at low cost for competitive speed-to-market capabilities.

1. Novae continue to deliver business to market
at speed with multi channel underwriting
system, RiskWrite
Sabrefish’s solution enables Novae to create new products in house
at low cost for competitive speed-to-market capabilities.
Challenge
Novae underwrites a mix of short and long-tail business, encompassing
property, liability, marine and ‘specialty’ classes and writes both insurance
and reinsurance business. Business comes to the syndicate via two
channels; a direct Lloyd’s broker and through Novae’s service company.
Traditional Lloyd’s and London Market underwriting systems were single
channel, only supporting the Lloyd’s broker channel.
Having selected multi-channel insurance application RiskWrite, Novae were
up, running and fully established with full life cycle underwriting support for
different lines of business in 6 weeks. Novae’s on-going challenge was being
agile enough to create new, simple and complex, products across different
classes with ease and deliver them to market quickly.
To remain competitive Novae needed streamlined processes and fast new
product creation capabilities at low cost.
Solution
In order to build products in house easily and quickly, and have control over
product definition, Novae used RiskWrite.
RiskWrite’s product definition capabilities for creating simple and complex
products was chosen so Novae could enter new lines of business, delivering
new products quickly to market. Novae relied and continue to rely upon:
Multi channel product delivery via integrated broker portal
New lines and product consultancy with Sabrefish domain experts
Comprehensive product definition managed in house
Automatic and semi-automatic rating
Referrals to internal underwriters for non-standard policies
Dynamic and tailored policy documentation
Automated policy renewal
Auto-validation of risk criteria for in-house and external users
“At Novae we prioritise
high service levels and
enabling our underwriting
talent – so we can provide
competitive policies to
market, accurately, with
speed. To do this we
required comprehensive,
flexible product creation
and everything that comes
with it – easy documents,
renewal and support on
hand. RiskWrite Enterprise
and Sabrefish’s experience
of our market were
complimentary tools to
enable our people, increase
efficiencies and contribute
to overall profit. We look
forward to continuing to
partner with Sabrefish to
support our future growth
strategy”
Head of IT, Novae Group
Case Study

2. Benefits
RiskWrite has proved to be highly cost effective for Novae over its ten years
of use – bringing both immediate and long term benefits such as:
Initial set up in 6 weeks ready to use
Fast product creation and delivery to market
Ultimate flexibility across many business lines
Deep industry and technological expertise on hand
Ability to move with the times with new products
Ability to change rates and terms continually without recourse
to developers
Riskwrite continues to support Novae across a wide range of lines; Motor
Fleet, Property, Personal Accident, Medical Malpractice, Marine and Travel
categories. Product creation and delivery has been so fast that internal
approval has to be very efficient in order not to hold up the process.
RiskWrite’s cost effectiveness is considered a contributing factor of Novae’s
financial success in 2012. Sabrefish look forward to continuing the success
already achieved by supporting Novae in their swift delivery of new products
and classes of business in the future.
“It is interesting that the
benefits Novae saw in
Riskwrite, when we first
implemented the
application, still apply even
though the lines of
business we put through
the system are very
different from those that
were envisaged originally.
The ability to change
products and introduce new
products quickly helps us
to support the business”
Erdal Atakan –
Delivery Manager, Novae Group
Case Study
About Novae Group
At the heart of Novae Group is insight, the talent that sets Novae apart as leaders. Insight is the driving force
that brings Novae’s clients back repeatedly. Based in London and listed on the London Stock Exchange,
Novae uses its insight to deliver excellence and achieve success across the risk-taking insurance business.
Novae operates at Lloyd’s through its underwriting syndicate, managed by Novae Syndicates Limited.
As part of the Lloyd’s market, Syndicate 2007 enjoys the overall A (A.M. Best) and A+ (Standard & Poor’s;
Fitch) Lloyd’s ratings. Novae underwrites a mix of short- and long-tail business, encompassing property,
liability, marine and ‘specialty’ classes. Approximately 60 per cent of Novae’s business is drawn from the UK
and continental Europe, with the balance drawn largely from the Americas and Australasia. Novae writes both
insurance and reinsurance business.

3. sabrefish limited
HQ: 42-44 Clarendon Road - Watford - Hertfordshire - WD17 1JJ
CITY: 10 Fenchurch Avenue - London - EC3M 5BN
Tel: +44(0)1923 312 366 www.sabrefish.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.
About Sabrefish
Sabrefish is a specialist software developer and systems integrator providing enterprise software products,
managed services and systems development and integration services to the insurance industry. Since 1989,
major insurance brands have turned to Sabrefish for its ability to design, build, integrate and support flexible
business-led systems that enable them to compete effectively today and respond rapidly to future opportunities.
Sabrefish clients can be confident that their systems are easy for business users to manage and flexible to
support rapid business change, including geographic expansion, new product offerings or channels to market.
Customers include DUAL International, Nexus Underwriting Management, Novae, Swiss Re and WR Berkley.