Summary
- Explores AA Insurance’s data-driven strategy in a competitive market.
- Highlights advanced analytics for precise customer pricing.
- Showcases growth and profitability within a startup model.
- Emphasizes the strategic partnership with Actian.
Chapters
Hi, my name's Jason Cabral. I'm CEO for the AA's insurance company. The is the Automobile Association in the UK.
It's been around for over a hundred years, but the AA insurance company is a startup, and it started up about 10 years ago.
In the UK, the motor insurance industry is probably one of the most fiercely competitive markets in the world and actually incorporating all the data at point of quote and responding back in less than a second is a really, really challenging thing to do. In order for us to price effectively for our customers, we need to know more about those people than than the rest of the market and be able to kind of compress that down and look at that and actually make sense of it. The initial reason for using Actian was about these fast lookups, but it also just became part of our kind of analytics warehouse.
And more and more, we use it in order to just summarize data, look at data. Essentially, we grew from nothing 10 years ago to 300 million pound book of business. Actian really helped us to put all that in one place and actually respond back very quickly.
Knowledge is power.
Our end users, our customers don't know about Actian but it does enable them to get the quotes that they need.
So it's running there seamlessly in the background. The market is notorious for losing money year after year. So the fact that we were able to grow the business in the last 10 years incorporating Actian's solution, incorporating that data, and being profitable is actually a testament to how we were partnering together.
