#United States #Conshohocken #Specialty Insurance #Novacore #NSM Group

Novacore Sets Out to Revolutionize Specialty Insurance

Today marks the exciting launch of Novacore, an independent specialty insurance provider poised to significantly alter the landscape of specialty insurance. Building on a rich history of over 35 years with NSM Insurance Group, Novacore aims to leverage the latest in technology, automation, and analytics to deliver superior performance and growth in niche insurance markets.

This groundbreaking initiative comes in the wake of the sale of NSM's U.S. commercial division to New Mountain Capital, a prominent investment firm with over $55 billion in assets. This transition allows Novacore to carry forward the legacy of NSM, which has been recognized for its industry-specific insurance programs and solid carrier partnerships since 1990.

At the heart of Novacore's mission is the commitment to transform the insurance experience for agents, clients, and partners. CEO Aaron Miller expressed his enthusiasm: "This is a defining moment in our evolution. We now have the opportunity to build on NSM's stellar legacy and take it to bold, new heights. Novacore is our chance to embrace innovation fearlessly."

Novacore has established a robust framework consisting of over 20,000 agent partners across the country and a diverse portfolio of over 15 specialty programs. The key pillars of their strategy include:

• - Advanced Technology and Automation: Focusing on the implementation of cutting-edge technology, Novacore seeks to innovate the way agents and clients engage with insurance solutions.
• - Predictive Analytics: By utilizing data-driven practices, Novacore aims to provide real-time intelligence, enhancing decision-making processes for its users.
• - Scalability: The company is committed to building operations that can adapt and grow efficiently in response to market demands.
• - Underwriting Excellence: With a focus on organic growth and development of niche products, Novacore dedicates resources to ensure top-notch underwriting standards.
• - Strategic Acquisitions: The company plans to grow strategically through partnerships and the acquisition of complementary specialty brands that can enhance its offerings.

Miller emphasizes that Novacore aspires to be the most forward-thinking, agent-friendly Managing General Agent (MGA) in the insurance sector. The company's investments in technology, automation, and data-centric strategies are geared towards simplifying business operations for agents and carriers alike.

"By streamlining workflows and enhancing the customer experience, we're establishing a platform that delivers genuine value, fosters sustainable growth, and ensures our partners can achieve long-term success," he stated.

New Mountain Capital's support places Novacore in a favorable position to expand its core programs in growing markets. The firm is committed to assisting Novacore in scaling its operations, investing in technology, and unlocking new market opportunities within the specialty insurance domain.

To reinforce its leadership team, Novacore has recently welcomed several seasoned insurance professionals. Chase Clark joins as both the Chief Operating Officer and Chief Underwriting Officer, bringing a wealth of industry knowledge aimed at improving operational efficiency.

In addition, Phil Dwyer has been appointed as the Executive Vice President of Corporate Development, responsible for leveraging his strategic expertise to shape Novacore's long-term growth plan.

As Novacore embarks on this ambitious journey, it remains resolute in its goal to establish itself as the most trusted, efficient, and innovative partner in the specialty insurance arena. Their commitment to transforming how niche markets are served signals a promising future for both the company and its diverse clientele.

For additional information on Novacore's services and vision, visit novacore.com or connect with them on LinkedIn.

About Novacore

Novacore stands as a premier specialty insurance provider managing over $1.3 billion in premium. With a dedication to innovation, the company caters to complex risks through a network of 20,000 agents, offering customized insurance programs backed by top-rated carriers. Headquartered in Conshohocken, PA, Novacore operates 11 offices nationwide with a team of over 350 dedicated professionals. Their portfolio includes more than 15 specialty programs across various sectors, ensuring a wide range of insurance needs are met efficiently.