Consulting

Novarica's consulting services are typically short engagements that draw on our industry knowledge. They are designed to provide the right external perspective to help our clients make important decisions. For more extensive projects or those that require complex quantitative analysis of customer and operational data, we partner with our parent company, Novantas.

Typical Novarica projects include:

For insurers and financial institutions

• 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

• 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

• 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.