Derek Cowie, digital manager at Aviva, talks about its cooperation with Acturis for their bid to pick up the Excellence in AI award
Why did you put yourself forward for the Excellence in AI award?
We have a client based platform, 14 different products that services the needs of many small businesses, but with a low product holding per client - there was room for us to capaptilise on this.
It would have been easy to coldly x-sell products, but would they be the right ones? This is where our AI model comes in – working with Acturis and their wider data set, x-referenced with the Aviva underwriting appetitie, we use this to offer a much more targeted product recommendation for a ‘business like theirs’, which they would likely purchase.
This is then displayed on our freshly designed client dashboard within our online self service platform of Fast Trade for the broker to quote and buy.
What do you think makes your entry stand out and why should you win the award?
It’s new, it’s smart and with the product range we have, we are uniquely positioned to be able to do this.
Aside from the income benefits, we view it more as an aid to our broker partners to help them ensure they have reviewed all the insurance considerations for their client.
We also understand we are first to do this within the SME digital trading market.
What would winning the award mean to your firm?
It would be fantastic recognition for the teams and our business area whilst tangibly demonstrating the technologies of today, which have a place and a value in the insurance industry.