Real-time analytics delivers split-second responses for insurance quotes
The AA offers risk-balanced, competitive pricing fast, optimizing its placement on insurance comparison websites.
About AA Insurance
Established in 1905, The AA is the leading provider of roadside assistance services in the UK. The AA brand is highly trusted, and the vehicles owned by its 3+ million members constitute 10% of the cars on the roads of Britain today. The organization operates a wide variety of businesses, including The AA’s Insurance Brokers Group, which interacts with a diverse panel of underwriters to offer a range of vehicle and home insurance policies.
Challenge
Insurance comparison websites in the UK give top billing to insurers who respond fastest to online requests for quotes. The AA needed a solution that would enable it to underwrite a prospective driver and deliver a risk-balanced, competitive insurance quote with sub-second speed.
Solution
The Actian Data Platform deployed on Azure is used to analyze hybrid data sources to provide real-time insurance quotes and provide executives with performance insights on the AA’s insurance business.
Outcome
With the Actian Data Platform, The AA can analyze applicant-supplied data, enrich data from public sources on accident histories and insurance fraud, and deliver a risk-balanced, competitive insurance quote in fractions of a second.
Aggressive, high-speed behaviors may not seem appealing when an insurance company is evaluating whether to insure a driver, but an immediate and aggressive response to online quote requests is critical for insurers that are looking to be competitive. That is particularly true in the UK insurance markets, where drivers routinely turn to websites like GoCompare.com and Confused.com for the best available rates. These insurance quote consolidators require rapid response times from insurers looking to gain new customers.
The AA, one of the UK’s leading automotive and home insurers and the number one provider of roadside assistance services, has built its underwriting platform to meet this need for speed. Of course, the AA doesn’t want to insure just anyone. It wants to target and provide highly competitive insurance rates to customers with the best driving records.
The AA subscribes to multiple services that enable them to validate the information an applicant submits and enrich submissions with third-party and historical data. The AA factors these data points into its underwriting system and models to calculate the most competitive insurance offers for the most qualified drivers.
The Solution
Leveraging the elasticity of the AA’s Azure cloud environment with the Actian Data Platform, the AA has the scale and flexibility to meet the future growth of its insurance business. Using the Actian Data Platform, they are able to accommodate a high number of concurrent users including pricing analysts, data scientists and business intelligence users. The Actian Data Platform has enabled data access to a variety of data consumers with no performance impact to their quoting system.
The Results
- Ability to analyze and enrich online insurance requests and provide risk-balanced insurance pricing in 400 milliseconds.
- Scaled insurance data staff 3x with no performance impacts.
- Supplies real-time, on-demand reporting and analytics dashboards via Google Looker to executives and business users across the organization.
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