Research

Novantas delivers its research services through the Novarica division. Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives.

The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica’s research includes market and trend analyses, best practices research, case studies, and independent analyses of software vendors that serve insurers and financial institutions.

Novarica draws its knowledge from the personal experience of its principals, the ongoing information gathering initiatives of dedicated research staff, and regular communication with insurer executives through informal networks and formal groups like the Novarica Insurance Technology Research Council and Novarica Banking Technology Research Council. Novarica’s core team is made up of subject matter experts with previous experience ranging from analyst firms, consultancies, financial institutions, and solution providers. This team works closely with our research councils, in-house research team, and a wide network of contacts to build the knowledge base to support our research and advisory services. Novarica conducts ongoing research into issues of importance to our financial institution and insurer advisory clients. We deliver this information through direct personal interactions and published research papers. Our research papers are available for direct purchase by both advisory clients and non-clients (clients receive a significant discount), as well as on a subscription basis.

For insurers and financial institutions, some typical engagements involve:

• Vendor selection. From simple market scans through shortlisting through full participation in demos, RFP scoring, and contract negotiation, Novarica’s industry experts bring their direct experience and knowledge to insurers to facilitate faster and better evaluation of strategic options.
• IT strategy development. Using our “4 P” methodology (Pressures, Principles, Projects, and Programs), Novarica assists insurers in mapping IT strategy to business needs and communicating strategy in terms that are meaningful to business partners.
• Peer benchmarking. With Novarica’s broad range of contacts and relationships, the company can rapidly assemble benchmarking groups to provide critical context for key decision making.
• Executive education. Novarica’s unique combination of industry knowledge and communication skills allows the firm to effectively and efficiently bring key executives up-to-speed on trends and issues related to business and IT strategy, e-business, the vendor marketplace, and other areas.

For solution providers, some typical engagements involve:

• Messaging and positioning. Novarica knows how insurers and financial institutions think about IT. Our team has advised some of the most successful vendors in the industry on messaging and positioning through short engagements that advise and empower a vendors’ own marketing staff.
• Product roadmap development. With an unparalleled knowledge of the vendor competitive marketplace and buyer preferences, Novarica works with solution providers to help them prioritize enhancements and plan product roadmaps.
• Salesforce education. Especially for horizontal technology vendors or those without deep experience in the vertical, selling insurance technology solutions presents a unique challenge. Novarica brings non-expert salesforces up-to-speed rapidly, giving them the right vocabularies and mindsets to sell effectively in the vertical.

For venture capitalists and private equity firms, some typical engagements involve:

• Rapid industry education and perspective. With more than 100 significant vendors and more than 10 major classes of solution, the insurance technology sector is vast and complex. Novarica can bring investors up-to-speed on the unique and fragmented marketplace.
• Due diligence. Novarica’s team has been involved in many of the most significant transactions in the insurance and financial services IT sector over the past 7 years. We work directly with investment teams to validate assumptions and provide market and product (not financial) due diligence.