The Financial Services industry is operating in a challenging environment. Against a backdrop of continued economic uncertainty and tighter regulation, financial institutions need to get more secure and open – at the same time.
Information as an Asset
Data is at the core of the financial services industry and has long been thought of as an asset. Detica’s specialist knowledge helps financial institutions to make use of this asset – by securing it, managing it, improving it and exploiting it to gain competitive advantage.
Next generation telematics
MyDrive Solutions and BAE Systems Detica have joined forces to enable the next generation of Pay How you Drive insurance.
Telematics insurance products are currently offered by only a small proportion of providers in the UK. But the market is set to grow at a CAGR of 90% over the next five years, driven by telematics’ ability to reduce accidents and claims.
However, most current telematics products generate a narrow view of driving behaviour, which limits insurers’ ability to identify and reward the best drivers.
MyDrive's patent pending solution generates a rich and contextualised understanding of driver behaviour. Detica's proven analytical approach allows insurers to interpret this rich data set, in combination with other data sources, to enable improved policy pricing and loss adjustment.
The insurance market has rarely been more challenging than it is today. One common thread in the response to all of these challenges is data. But how do you extract value from this data?
There is a lot of data out there. Using this data more effectively can improve the experience of your customers and boost business. Read more