Aviva – Digital Transformation Strategies
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Aviva Digital Transformation Strategies Overview
Aviva is strengthening its focus on the use of innovative technologies to enhance its digital capabilities. AI, big data, insurtech, regtech, and cyber insurance are among the technologies the company is concentrating on. The annual ICT spending of Aviva is estimated at $506.5 million for 2023. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications from vendors.
Aviva is a multinational insurance and financial services group offering a range of insurance, wealth, and retirement solutions to individual and business customers. The group operates through its business units in the UK, Ireland, and Canada. Its UK & Ireland Life business unit offers health and life insurance, retirement, and wealth products to customers in the UK and Ireland. Its UK & Ireland General Insurance business unit offers business, home, car, and holiday insurance products. Its Canada General Insurance business unit offers business, home, car, and lifestyle insurance products to customers in Canada. Its Aviva Investors business unit manages assets of clients across the world. Aviva also has international investments in China, Singapore, and India.
The ‘Aviva Digital Transformation Strategies’ report will act as a reference point to understand the 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 partnerships; technology introductions; investments; and ICT spending among others.
Total ICT Spending 2023 | $506.5 million |
ICT Spend by Function | Data Center, Communications, Network, Application, End-User Computing, Management, and Service Desk |
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 | Software (Including Cloud SaaS), Hardware (Including Cloud IaaS), ICT Services, Consulting, Network and Communications, and Others |
Technology Theme Focus | AI, Big Data, Insurtech, and Regtech |
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Digital Transformation Strategies
Aviva leverages artificial intelligence to draw insights from customer data and help its brokers offer better customer service. The insurance group uses AI to analyze the individual portfolios of brokers and identify customers with inadequate insurance coverage. This allows brokers to provide relevant and personalized insurance solutions to their customers.
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Aviva Technology Theme Focus
Aviva is strengthening its focus on the use of innovative technologies to enhance its digital capabilities. AI, big data, insurtech, and regtech are among the technologies the company is concentrating on.
Aviva Technology Focus
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Aviva Technology Initiatives
Aviva has been involved in several strategic technology partnerships and collaborations, technology rollouts, and technology investments over the past few years. For instance, in 2022, Aviva partnered with Tractable to use the latter’s AI solution to increase the efficiency and accuracy of processing motor claims in the UK. By leveraging Tractable’s AI solution, Aviva will be able to remotely assess repair estimates and improve the consistency of diagnosis.
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Aviva ICT Spend by Function
- Data Center
- Communications
- Network
- Applications
- End-user Computing
- Management
- ICT Service Desk
Aviva ICT Spend by Function, 2023 (%)
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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, 2023 (%)
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Aviva External ICT Spend by Segment
- Software (Including Cloud SaaS)
- Hardware (Including Cloud IaaS)
- ICT Services
- Consulting
- Network and Communications
- Others
Aviva External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into Aviva’s technology activities.
- Overview of technology initiatives covering partnerships, technology introductions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
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, technology introductions, and investments.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Aviva in 2023?
The annual ICT spending of Aviva is estimated at $506.5 million in 2023.
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Which function accounted for the highest ICT spending for Aviva in 2023?
Network accounted for the highest ICT spending by function for Aviva in 2023.
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Which channel accounted for the highest ICT spending for Aviva in 2023?
Internal development and maintenance accounted for the highest ICT spending by channel for Aviva in 2023.
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Which segment accounted for the highest external ICT spending for Aviva in 2023?
Software accounted for the highest external ICT spending by segment for Aviva in 2023.
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What are the key technology themes in focus for Aviva?
AI, big data, cloud, insurtech, and regtech are a few of the key technological themes in focus for Aviva.
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