Customer Snapshot: Overview
Insurance for around 31 million customers worldwide
Aviva is the United Kingdom’s largest insurer and one of Europe’s leading providers of life and general insurance and asset management services.
£2.05 billion (€2.5 billion) – Operating Profit
Number of Employees
London, England, United Kingdom
Line of Business
Customer Snapshot: History
People across the globe have been entrusting themselves, their families, and their assets to Aviva Group companies since 1696. Sir Isaac Newton was smart enough to insure his home with the Hand in Hand Fire and Life Insurance Society, a precursor to Aviva. Aviva companies were there to help salvage the damage when the Titanic sunk in the North Atlantic. Sir Winston Churchill and John F. Kennedy had policies with Aviva companies. But, while it has had an impressive 320 year role in protecting the people who make history, today it is helping everyday people around the world. That is what makes Aviva shine.
Customer Snapshot: Business Model
From life insurance to general insurance to health insurance and asset management, Aviva is protecting people, their families, and their assets the world over. Products are sold online, through independent vendors, and via banks and other corporate partners to 31.4 million customers. In 2013 alone, Aviva paid out £27.5 billion in claims, proving that, when customers need it most, Aviva is there. That is what makes Aviva one of the world’s most trusted insurance providers.
Biggest in the UK.
Customer Snapshot: Success Strategy
To connect with customers, Aviva has a respected global brand, strong customer service, comprehensive distribution channels, and an increasing presence in direct and online channels. To build on its success and further improve customer experience, Aviva is investing in three key focus areas:
By strengthening its IT capabilities to make communication more convenient and effective and to maximize the value of its customer data, Aviva can deepen relationships with customers to more clearly identify and meet their financial and protection needs.
Going on More than Just Gut Feel
Following its corporate success strategy, Aviva invested in predictive analytics technology with the goal to build propensity models for individual customer groups, rather than building generic models for all customers. With that, Aviva aims to avoid contacting customers too frequently, while at the same time improving campaign response rates and increase return on marketing.
In the past, it has very much been done on what the marketers think might be good. They used gut feel. What we are trying to do is put the evidence into that system and say, because in the past this has happened, in the future we can do something better.– Margaret Robins, Analyst, Aviva plc
To achieve its ambitious goals in predictive analytics, Aviva realized that it needed a best-in-class solution that would equip it with significantly better modeling automation and allow new models to be created faster. After closely considering various offerings from top vendors in the predictive analytics space, it became obvious for Aviva that the SAP InfiniteInsight solution was the right choice to support its corporate strategy. Not only does the software provide automatic analysis of the individual contributions of hundreds of variables to a model, rather than manual inspection of a limited number of variables, it also enables marketing experts to create charts that help visualize the anticipated business impact of models.
Enter SAP: The SAP Experience
One of the primary advantages for Aviva was that SAP InfiniteInsight could be implemented almost instantly. The software is very user friendly, so the curve between learning what to do and doing it is short. Automatic selection of the variables means that the modeling of the data takes just half the time it used to.
Quick and Easy To Use.
The actual modeling part of the whole project after you’ve prepared the data takes half the time. You can press a button and you get it.– Margaret Robins, Analyst, Aviva plc
By optimizing customer interactions, Aviva is able to focus its marketing efforts and budget more wisely. With SAP InfiniteInsight the company can better understand which campaigns worked – or didn’t – for which customers, and be sure it is focusing the right offers to the right customers for maximum response.
Optimizing Customer Interactions.
Goal: 80% of sales from contacting 50% of the population
Better Business: Benefits
Fast, Flexible Models for More Frequent Analysis and Fresh Data
With SAP InfiniteInsight, significantly more propensity models can be created in a shorter period of time. There can be as many as 30 models in production at any given moment, helping Aviva ensure that it has the freshest data and can stay on top of the latest trends. The end result is more-successful marketing campaigns, which means customers are getting the offers they need, when they need them most.
Better Business: Run Simple
50% faster - creating models in half the time
Just Press a Button, and You Get It.
As Aviva moves ahead into new markets, analytics-driven digital campaigns are at the heart of its marketing strategy. But the opportunities to maximize the value of customer data go beyond marketing new products and offers. From acquisition to retention to win-back efforts, the data could ultimately be used to create the products themselves. By getting to know customers better, Aviva is in a better position to meet their needs.
More Than Just Marketing.