New updates streamline insurance and data management for Life Science clients
Newfront, a top 40 insurance brokerage by revenue, has announced the launch of its newly updated Clinical Trial Portal. The proprietary portal has been updated to better streamline data management processes for its Life Science clientele, 90 percent of whom conduct clinical trials. Cristina Varner, Senior Vice President, National Life Science and Digital Health & Telemedicine Practice Leader stated, “The updated portal is uniquely suited to the needs of clinical trial managers looking to better navigate insurance requirements in various countries and obtain quotations in an expedited manner. It’s a more streamlined and user-friendly interface.”
Multiple Trials, Many Challenges
Clinical trial managers face a range of complexities when preparing, launching, and managing trials, not least because of the vast amount of information they must organize from multiple countries with different regulatory requirements. Insurance is unsurprisingly mandatory for clinical trials to begin, and delays in securing coverage or coverage lapses can cost companies hundreds of thousands of dollars. The Newfront Clinical Trial Portal helps users harness the data to identify data-backed benchmarks, get quotes, and ultimately gain the policy coverage they need. “It’s a one-stop shop for clinical trial insurance,” Varner added. “We place coverage for companies’ clinical trial needs in more than 160 countries and there is a clear need for data consolidation.”
The Updated Clinical Trial Portal
Varner said the latest update was a year in the making and was based on feedback from several of Newfront’s largest Life Science clients. She noted four key improvements that include:
- A Streamlined User Experience: A cleaner, more intuitive user interface makes navigating policies and data easier for clinical trial managers. This includes a redesigned homepage and new tabs for organizing submission details. The ability to quickly access data in real-time helps managers and teams deal with urgent issues like addressing regulatory requirements from the FDA or identifying upcoming policy renewal dates.
- New Instructional Videos: The portal now features additional instructional videos to guide users through various processes and tasks. The videos provide additional support and training to clinical trial managers who may be unfamiliar with all of the portal's features.
- Enhanced Functionality with a Ticketing System: A new ticketing system has been integrated into the portal, allowing users to submit inquiries on patient numbers, site additions, and policy extensions. Change requests can also be submitted. This system helps relieve the administrative burden on trial managers, as they can now submit inquiries and receive responses within 24 hours.
- In-Platform Reporting: The updated portal provides in-platform reporting, making it easier for clinical trial managers to generate reports and analyze data. Often, multiple clinical teams will be managing several different trials spread across multiple countries. New custom reports allow teams to run reports to see across policies, analyzing expiry dates, premium rates, patient totals by trial or country, and more.
Most clinical trial coverage varies by country and each country requires large volumes of data to establish a trial site but also to secure the required coverage. For Newfront clients, managing these data with clunky Excel spreadsheets and byzantine email threads are a thing of the past. The enhanced Clinical Trial Portal offers a single view of a client’s entire clinical trial portfolio, filterable by a range of inputs with custom reporting available at a click.
Launched in March, Newfront offers prospective clients a 30-day free trial so they can see for themselves the value and efficiency of the platform. With the updated portal, clinical trial managers save time, resources, and money, allowing them to focus on more critical tasks and spend less time parsing a sea of data. Ultimately, Newfront Life Science clients enjoy better data management, more efficient clinical trials, and more peace of mind.
About Newfront Life Science Practice
The Newfront Life Science Practice places coverage for companies’ clinical trial needs in over 160 countries, placing hundreds of foreign clinical trial policies annually. It currently works with approximately 300 Life Science clients across a range of industry-leading clients. In addition to clinical trials, the team of life science risk management experts help clients identify risk, understand where they may be exposed, and craft bespoke coverage.
The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Newfront shall have no liability for the information provided. While care has been taken to produce this document, Newfront does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided.
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