Aviva – Enterprise Tech Ecosystem Series
Aviva has been focusing on data-led innovation as a part of its digital transformation strategies. The annual ICT spending of Aviva was estimated at $1.9 billion in 2022. A major share of this spending is earmarked for acquiring software, hardware, and consulting from vendors. Aviva is a multinational insurance and financial services group offering a range of insurance, investment, and retirement solutions to individual and business customers.
The Aviva Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, acquisitions, ICT spending among others.
Digital Transformation Strategies
Aviva utilizes data and analytics to better understand its customers. The company has collaborated with the University of Cambridge to revolutionize the insurance business through the use of data science. Aviva also plans to use analytics to derive key insights from the consumer data it captures, to provide personalized recommendations and services. In 2018, Aviva launched Aviva Quantum, a data science team that will help the company understand consumer behaviors as well as identify opportunities and issues in the insurance industry. Leveraging data science, Aviva also aims to improve understanding of risks, drive more accurate pricing, and ensure fraud prevention.
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Aviva Technology Theme Focus
Aviva is utilizing a number of emerging technologies including artificial intelligence, big data, blockchain, cloud computing, and IoT to improve operational efficiency and enhance digital capabilities.
Aviva Technology Focus
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Aviva Technology Initiatives
Aviva has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, acquisitions, and technology investments over the past few years.
For instance, Aviva has deployed causaLens’ Causal AI technology to automatically extract significant causal insights from financial data and increase the profitability of its trading strategies. Causal AI is capable of understanding cause and effect, intuitively combining human knowledge, designing optimal interventions, and imagining counterfactual scenarios, all of which aid strategy and decision-making. Furthermore, it outperforms current machine learning technology in traditional prediction tests, having been shown to react three times faster to new market conditions.
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Aviva ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
Aviva ICT Spend by Function, 2022
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Aviva ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
Aviva ICT Spend by Channel, 2022
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Aviva External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
Aviva External ICT Spend by Segment, 2022
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Aviva Digital Transformation Strategies Overview
| Total ICT Spending 2022 | $1.9 billion |
| ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
| ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators |
| External ICT Spend by Segment | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
| Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud Computing and IoT |
This report provides:
- Insight into Aviva’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Scope
– Aviva has adopted a digital-first strategy. The company’s online and mobile app, MyAviva, provides customers with access to all products through a single interface and allows them to easily make changes to their policies. The platform also provides automated preapproved quotes without users needing to provide answers to questions.
– Aviva utilizes data and analytics to better understand its customers. The company has collaborated with the University of Cambridge to revolutionize insurance business through the use of data science.
– Aviva has signed strategic partnerships with various companies (including Tencent, Amazon, and Sesame Bankhall Group) in order to gain access to advanced technologies that can help the group digitally transform its business and improve customer service.
Reasons to Buy
- Gain insights into Aviva’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships, investments, and acquisitions.
Key Players
Table of Contents
Frequently Asked Questions
The annual ICT spending of Aviva was estimated at $1.9 billion in 2022.
The key ICT spending categories by function for Aviva are communications, data center, network, application, end-user computing, ICT service desk, and management.
The key ICT spending categories by channel for Aviva are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
The key external ICT spending categories by segment for Aviva are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), network and communications, consulting, and others.
The key technological theme in focus for Aviva are artificial intelligence, big data, blockchain, cloud computing and IoT.
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