The amount of the deal was not disclosed.
For Generali, the acquisition marks to launch of a new Group Hub for telematics and big data. It will obtain a centre of excellence in data analysis, enhance its operating platform and to develop innovative, smart products, tailored to the customers’ specific needs, benefiting from connectivity and exploiting all the potential of data analytics.
Founded in 2010 and led by Linden Holliday, CEO, MyDrive Solutions uses the customer data gathered from a series of technological instruments, such as blackboxes or smartphones, to formulate predictive algorithms and to define behavioural scores, i.e. assessments of users’ behaviours, enabling those who choose new products to receive customized commercial offers.
The new, London-based telematics Hub, now specialised in Motor, will expand data analysis activities to a vast series of sectors, from fraud prevention to sophisticated customer segmentation, thereby facilitating the creation of intercompany synergies and the optimisation of the product offering.