A leading insurance provider is embarking on a transformative journey to become a data-driven insurer of the future. The firm serves tens of millions of customers across the world and has a vision to develop into a future state insurer strategy across business units underpinned by a modern data platform and capability.

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The organisation chose Mesh-AI to harness its world leading expertise in building modern data capabilities to bring clarity to its approach to data, demonstrate an impact across the organisation and shift the businesses towards a data-driven way of thinking.

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The Vision: Bold Ambitions for Data

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This ambitious vision encompasses several key elements:

1. Unified Data Strategy: Creating a cohesive, forward-looking approach to data management, facilitating easier access to both group-wide and General Insurance specific information.
2. Cultural Transformation: Driving a shift towards a data-centric organisation, bridging the gap between analytics and operations.
3. Value Demonstration: Showcasing tangible benefits through targeted interventions across all General Insurance products.
4. Empowering Key Personas: Transforming roles across the insurance journey, particularly enhancing data scientists' capabilities with improved self-service and direct data access.
5. Holistic Change: Implementing thematic changes across technology, processes, people, structures, and governance, including a more flexible and cost-effective cloud strategy.
6. Future-Ready Design: Building a general insurer for the future, leveraging industry-leading data capabilities.

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This comprehensive vision aims to position the genera insurer at the forefront of the insurance industry, utilising data as a strategic asset to drive business growth, operational excellence, and customer satisfaction.

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The Challenge: Navigating Complexity While Targeting Strategic Goals

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The business faces the challenge of a fragmented data estate while managing £350+ billion in assets. To address this, the company has set four strategic goals:

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1. Accelerate growth
2. Deliver a better, digitally-led customer experience
3. Increase efficiency across the business
4. Target Net Zero by 2040

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The primary aim is to increase the value of data through a future state insurer strategy, underpinned by a modern data platform and capability, aligned with these four strategic objectives.

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Value Delivered: Mesh-AI's Transformative Impact

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The business is targeting a £1bn operating profit in the next two years according to its four strategic areas. Mesh-AI is playing a crucial role in enabling the insurance giant’s transformation by:

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1. Enhancing Underwriting Accuracy: Increasing precision in underwriting and reducing Solvency Capital Risk.
2. Embedding Governance: Implementing organisation-wide governance to support value-based data products.
3. AI-Driven Sustainability: Leading discovery for AI deployment to decrease supply chain carbon footprint, aligning with Net Zero goals, ramping up its decarbonisation journey.
4. Personalised Pricing: Combining AI with data to offer fully bespoke pricing to personal and commercial customers, driving growth, customer loyalty, and improving the customer-to-policy ratio.

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Future of the Partnership: Building a Robust Data Infrastructure

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Mesh-AI has established itself as a trusted partner in delivering a future infrastructure state capable of handling the business’ growing needs. This partnership enables the organisation to:

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• Build robust data pipelines
• Improve data quality
• Implement advanced analytics for rapid future innovations.

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Our partnership highlights the insurer’s commitment to leveraging data and AI to transform its insurance operations, improve customer experiences, and maintain a competitive edge in a rapidly evolving industry. With a reimagined underwriting capability and reformed data governance, it is well-positioned to achieve its vision of becoming a data-driven insurer of the future.

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Mesh-AI empowers organisations to navigate regulatory complexities seamlessly, foster innovation, and deliver unparalleled value to customers. Find out how.

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