Aviva is to overhaul its 320-year-old business to become a “digital-first” insurer, in an effort to serve the younger generation. Historically the industry has created products that consumers don’t understand and relied on strong sales teams to make sales, but the younger generations are unresponsive to such methods according to Charles Reeves, the insurer’s global digital product director. The company will also be looking at how it can better connect with millennials who have been more open about their health care needs than previous generations.
Aviva is to overhaul its 320-year-old business to become a “digital-first” insurer, in an effort to serve the younger generation. Historically the industry has created products that consumers don’t understand and relied on strong sales teams to make sales, but the younger generations are unresponsive to such methods according to Charles Reeves, the insurer’s global digital product director. The company sees Garage, the site it set up earlier this year to explore all things digital, as the foundation of its plans to innovate and has also invested in Founder Factory, an accelerator scheme aiming to develop more than 200 technology businesses over the next five years.