From ashes to algorithms: how partnerships shape the future

Aviva's deep experience meets Lemonade's AI innovation. It's all about bringing together the best of both worlds.

Aviva's roots reach back to 1696, a time when highwaymen like Claude Duval and pirates such as Captain Kidd prowled the highways and high seas. 

Only 30 years before, the Great Fire of London had roared through the narrow streets of the capital and left one-third of it in smoking ruins. The Great Plague of London, which struck just a year earlier, had already wiped out a quarter of its population. 

It was during this intense period of history that John Graunt, now regarded as the father of statistics, teamed up with William Petty to lay the foundation for modern demography.

Our data foundations

While far less famous than their highwaymen and buccaneer contemporaries, we still feel their impact. Their work in data collection and analysis laid the groundwork for the insurance industry as we know it today.

Though, ironically, between his work being completed and insurance companies coming to be, Graunt himself was bankrupted by his losses in the Great Fire of London. 

This painting shows the great fire of London as seen from a boat in vicinity of Tower Wharf. The painting depicts Old London Bridge, various houses, a drawbridge and wooden parapet, the churches of St Dunstan-in-the-West and St Bride's, All Hallow's the Great, Old St Paul's, St Magnus the Martyr, St Lawrence Pountney, St Mary-le-Bow, St Dunstan-in-the East and Tower of London
The Great Fire of London, depicted by an unknown painter

Fast-forward to today, and technology has continued to advance the field of statistics that Graunt and Petty spearheaded. While actuaries ensure the human touch is still at the heart of what we do, the use of artificial intelligence (AI) is now shaping how we interact with customers.

AI's impact on modern insurance

In fact, AI is already integrating seamlessly into our daily lives in hundreds of ways that are easy to overlook. 

Your phone unlocking itself after looking at your face. Streaming services recommending something new to keep you entertained. Your email client checking your grammar and spelling. That’s all powered by AI, at least to some degree. 

Three skyscrapers in London, one of which is St Helens - Aviva's headquarters. It's a sunny day, and we're looking upwards at the buildings.
Aviva's HQ in London (left). We're still quite a way from the cyberpunk neon of Blade Runner.

It’s important to remember that even today's most advanced AI is far from the futuristic versions depicted in sci-fi. Even ChatGPT is no HAL or Multivac. Not yet at least.

That being said, AI has enormous potential to revolutionise the way we live and work.  

Pairing Lemonade’s strengths with Aviva’s promises to deliver an insurance that is rooted in the birth of modern statistics is the best of both worlds.

This is especially true for the insurance industry, given our longstanding use of data and analytics to improve decision making and customer experience.

Already, AI is helping us predict risk, detect fraud, read and summarise complex documents and automate simple repetitive processes. AI coupled with real-time data will also continue to deliver a more seamless, helpful and personalised insurance experience for our customers. 

While the potential is huge, it's also important to make sure AI is used ethically, safely and responsibly - and this is something we take incredibly seriously at Aviva.

As technology will only continue to rapidly develop, we will continue to test and evolve our approach, working with regulators, external experts and risk colleagues to ensure we continue to utilise AI as a force for good.

Lemonade: transforming the industry

That's something we have in common with Lemonade, a digital insurance company powered by AI and social impact, founded in 2015.

“Lemonade was built on a digital substrate: all our insurance products globally (Renters, Homeowners, Car, Pet and Life insurance) are powered by AI.

"We believe AI can get better at certain things humans do today, and in doing so, can reduce costs while increasing customer satisfaction by removing wait times and hassle. All the while, AI and big data can help us get better at ensuring our customers have the right coverage”, said Sarvesh Ramachandran, UK Country Manager at Lemonade.

“Pairing Lemonade’s strengths with Aviva’s promises to deliver an insurance that is rooted in the birth of modern statistics is the best of both worlds.”

Our purpose, values and strategy

Find out more about how we're here for our customers when it really matters.

Lemonade aims to transform the industry by making insurance more delightful, affordable, precise, and socially impactful.

As a Public Benefit Corporation and Certified B Corp (certified B Corporations are leaders in the global movement for an inclusive, equitable, and regenerative economy), Lemonade has a strong commitment to social impact.

Through its Giveback program, the company donates leftover premiums to non-profit organisations selected by its customers, supporting causes like equality, climate, and poverty.

Last year, Lemonade entered a partnership with Aviva to expand into the UK market. Despite the three-century age gap, we have a lot in common.

We share a mission of putting customers at the heart of our businesses. We both aim to be there for customers when it matters most and help them face the future with confidence. 

The power of partnerships

Historically, we’ve seen how strong partnerships have changed the world. From John Graunt and William Petty's collaboration, to the far more famous Wright Brothers and Google's founders, Larry Page and Sergey Brin, partnerships have driven innovations that we’d feel lost without today. 

“For many years we have been pioneering the use of artificial intelligence to make customers experiences quicker, easier, and more affordable," Jon Marsh, Managing Director - Partnerships & Transformation, Personal Insurance said "But keeping pace with latest capabilities requires us to be constantly expanding our thinking.

"Our partnership with Lemonade is a fantastic opportunity to collaborate with an organisation that shares our perspectives on the potential for AI to be a force for good in supporting customers with their insurance needs.

"By joining forces, we can ensure compelling propositions reach a broader range of customers, including renters, an under-served yet growing segment of the UK insurance market.

"In our 325-year history we have adapted and thrived in a changing world and our partnership with Lemonade is a marker of our intent to continue just this.”

A collaborative vision for the future

Our world never stops changing, and neither will we. With a shared commitment to customers and appetite for learning, we’re excited at what the future may hold for both Lemonade and Aviva. Growing and adapting together, in an era of disruption and change, to ensure we are here for our customers today, tomorrow, and beyond. 

More of our Perspectives