Innovation InView: Aviva Digital Garage - From The Digital Insurer
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Transcript of Innovation InView: Aviva Digital Garage - From The Digital Insurer
InView – Aviva’s Digital Garage
1
Why Telema*cs?
“Aviva puts digital first because that’s how our customers want to deal with us. The new digital garage will create the products and services they want, how they want them and when they want them.” -‐ Mark Wilson, Group Chief ExecuBve Officer, Aviva plc
Aviva Digital Garage
Commentary & insights The Digital garage intends to drive digital innova*on in the insurance sector It will help develop new business models, products, processes and channels to meet consumers’ risk management needs
It will build on Aviva’s strategy for “ Digital First using My Aviva – a one stop shop for insurance
It will support fin-‐tech start-‐ups with exper*se, resource, and facili*es and bring global digital skills and resources to Singapore market
Background Aviva is the UK’s largest insurer with leading posi*ons in both life and general insurance.
Aviva has 34+ million customers in 16 countries and is now embracing digital distribu*on as a core; In Singapore, they are a composite insurer and among the top five in the life market
In 2015, on the back of the success of its first Digital Garage in London , Aviva set up its first Digital Garage in Asia in Singapore to house technical specialists, UI designers and commercial teams interested in developing new insurance models and distribu*on channels.
The Digital Garage Concept Explore, Develop, Test Ideas Office-‐less OrganisaBonal Structure Focus on Design
Ø The aim of the Digital Garage is to make financial products and services more tailored and accessible for customers.
Ø The digital centre will have a star*ng team of 30 people, supported by a further 200 technology specialists based in Singapore
Ø The garage will be built in an “office-‐less organisa*onal structure” to promote new ways of working and sharing ideas.
Ø The blending of different skill sets and external exper*se is intended to break down the silos and risk aversion that can tradi*onally s*fle innova*on within organisa*ons.
Ø Aviva has placed a specific emphasis on design within the new garage, hiring external designers to work with Aviva’s internal I.T team. Ø Rela*onships with the Singapore Fin-‐Tech community and start-‐ups will further Aviva’s reach into Singapore’s digital ecosystem.
At the heart of the Digital Garage Agile Development AdopBng the Digital DNA Customer Centricity
Aviva will select internal specialists to generate a digital hypothesis with the aim of launching fast. This, combined with the addi*on of external domain experts will help Aviva foster a tolerance for failure within the Digital Garage, a tolerance that rarely exists in most mul*-‐na*onals.
The Digital Garage is just one example of a paradigm shi` within Aviva. Overall, Aviva’s opera*ng model has been fundamentally altered to priori*se issues that relate to digital efforts. In addi*on, it has undergone a cultural shi` – one that aims to put digital at the forefront of everyone’s minds
The Digital Garage’s innova*on ini*a*ves will be driven by how and what customers want. Mobile and On Demand services are just two of many examples highlighted by the Aviva Garage.
Contact The Digital Insurer: hugh.terry@the-‐digital-‐insurer.com
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