Acquisition in England for generals. The Lion Insurance Group has acquired full control of MyDrive Solutions, English start-up founded in 2010, among the leading operators in the use of data analytics tools for the profiling of driving styles, aimed at defining innovative products, tailor-made for customers, and advantageous rates for the most virtuous policyholders.
In line with the new strategy announced during the last Investor Day - specifies the press release with which Generali announced the acquisition - the arrival of MyDrive "allows the group to equip itself with a center of excellence in data analysis, whose skills will be further enriched and around which a Hub specialized in solutions and know-how in the telematics field will be created, at the service of all segments and all business units".
He explains it in more detail Walter Trevisani, Head of Group Insurance & Reinsurance: “The acquisition of MyDrive is an important step in the implementation of the new group strategy focused on customer centricity and extensive use of new technologies and data analytics tools. MyDrive is a center of excellence in behavioral profiling. We are developing many projects in the field of telematics and, thanks to these new skills with which the group is enriched, we aim to become the best insurance choice for connectivity and innovation. Furthermore, the decision to focus on such a young company demonstrates the group's willingness to invest in talent and new excellence".
“As a start-up – he adds Linden holiday, CEO of MyDrive Solutions – we have developed worldwide expertise in data analytics and software engineering in order to provide a detailed and capillary profiling of driver behavior. Now, leveraging on Generali's leadership in insurance telematics, we will quickly be able to offer new levels of innovation, operational efficiency and performance in other areas such as home automation and health, creating new and exciting products”.
MyDrive uses customer data collected from a range of technological tools, including "black boxes" placed on policyholders' cars and smartphones, to formulate predictive algorithms and define 'behavioral scores', or evaluations of user behavior which allow those who choose new products to receive personalized commercial offers.
The new Telematics Hub – which will be based in London – now specialized in the motor sector, will expand data analysis activities to a vast range of areas, from fraud prevention to sophisticated customer segmentation, thus favoring – concludes the press release – the creation of infra-group synergies and the optimization of the product offer.
