(IN BRIEF) Aviva has revolutionized its exposure management capabilities with the adoption of Orchestra, a sophisticated software solution developed by Symfos. Since its implementation in 2021, Orchestra has streamlined Aviva’s portfolio roll-up process by 60-70%, allowing for quicker data processing and enhanced risk visualization. This technological advancement not only improves operational efficiency but also enables Aviva to provide more agile and responsive services to brokers and customers. Orchestra’s real-time awareness feature has proven invaluable, allowing Aviva to promptly alert customers to potential weather impacts and provide timely advice during critical events like the Japan earthquake, Smokehouse Creek Fire, and Hurricane Beryl. By leveraging Orchestra’s capabilities, Aviva has eliminated inefficiencies associated with manual processes, gaining comprehensive insights into data for informed decision-making and product development. Karen Dayal, Chief Underwriting Officer Commercial Lines at Aviva, emphasized the transformative impact of this technology on enhancing service delivery and operational agility, reflecting Aviva’s commitment to innovation and efficiency in the insurance sector.
(PRESS RELEASE) LONDON, 16-Jul-2024 — /EuropaWire/ — Aviva has significantly streamlined its exposure management capabilities through the adoption of Orchestra, a pioneering software developed by Symfos. Since integrating Orchestra in 2021, Aviva has revolutionized its portfolio roll-up process, reducing processing times by an impressive 60-70%. This enhancement empowers Aviva to deliver quicker, more detailed insights into risk exposures, enabling underwriters to engage in more informed discussions with brokers and customers.
Orchestra’s real-time awareness feature has further bolstered Aviva’s agility. The software allows Aviva to promptly alert customers to impending weather events and provide tailored advice, ensuring proactive risk management and enhancing customer service standards. Already in 2024, Aviva has utilized Orchestra to effectively map and manage risks associated with significant events such as the Japan earthquake, Smokehouse Creek Fire, and Hurricane Beryl.
Karen Dayal, Chief Underwriting Officer Commercial Lines at Aviva, emphasized the transformative impact of this technology: “The use of new technology has transformed our exposure management capabilities, meaning we’re more agile and efficient, and can provide a better service to brokers and clients. As a business, we’re committed to enhancing risk decisions and leveraging innovations to stay at the forefront of our industry.”
Bao Cam, Managing Director and founder of Symfos, highlighted the collaborative effort driving these advancements: “Through our work with Aviva to enhance Orchestra, we are advancing towards our mission of offering the (re)insurance industry a state-of-the-art Pricing and Portfolio Management solution.”
With Orchestra, Aviva stands as a pioneer in automated data processing and visualization, setting a new standard for streamlined, effective exposure management in the insurance sector.
Notes to editors:
- We are the UK’s leading diversified insurer and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
- We help our 19.2 million (as at 31 December 2023) customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
- We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2023, we paid £25.6 billion in claims and benefits to our customers.
- In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. We are aiming to have Net Zero carbon emissions from Aviva’s operations and supply chain by 2030. While we are working towards our sustainability ambitions, we recognise that while we have control over Aviva’s operations and influence on our supply chain, when it comes to decarbonising the economy in which we operate and invest, Aviva is one part of a far larger global ecosystem. There are also limits to our ability to influence other organisations and governments. Nevertheless, we remain focused on the task and are committed to playing our part in the collective effort to enable the global transition. Find out more about our climate goals at www.aviva.com/climate-goals and our sustainability ambition and action at www.aviva.com/sustainability
- Aviva is a Living Wage, Living Pension and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at https://www.aviva.com/about-us/our-people/
- As at 31 December 2023, total Group assets under management at Aviva Group were £376 billion and our estimated Solvency II shareholder capital surplus as at 31 March 2024 was £8.5 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
- For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
- The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images, podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
- You can follow us on:
- X: www.x.com/avivaplc
- LinkedIn: www.linkedin.com/company/aviva-plc
- Instagram: www.instagram.com/avivaplc
- For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva
Media Contacts:
Aviva:
Claire Jermany
+44 (0)7385 148 681
claire.jermany@aviva.com
Symfos:
Boa Cam
bao.cam@symfos.com
SOURCE: AVIVA
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