Novidea, a leader in cloud-native insurance management software, announced today the appointment of Matt Foster as Executive Chairman to drive insurtech growth. Foster joins at a time when Novidea is scaling globally and pushing deeper into the insurtech space.
Based near Chicago, Foster brings over 30 years of experience leading tech and insurance organizations. His resume spans public companies, private equity–backed ventures, SaaS operations, and global M&A.
Foster said, “Novidea is at a pivotal stage of expansion. I’m honored to support the team as we scale innovation, expand our global reach, and deliver lasting value for customers and partners.”
Before this role, he served as COO of Duck Creek Technologies, where he led global operations across sales, product, engineering, and services during the company’s IPO phase. He also has board roles at Azentio and Athenium, both in the insurance tech domain.
Earlier in his career, Foster was Partner and CTO at Accenture Software, where he oversaw the acquisition and integration of Duck Creek. He holds a BSc in Industrial Engineering from Purdue University.
Novidea’s CEO, Roi Agababa, welcomed the appointment. He noted that Foster’s strategic vision and operational acumen will be essential as Novidea continues its mission to lead in insurance technology.
Novidea offers a data-driven insurance management platform with open API architecture. It serves brokers, agents, MGAs, MGUs, and carriers by integrating policy, claims, billing, and more. In 2024, Novidea also acquired Docomotion, a document generation tool.
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Source: GlobalNewsWire
