Icare is a leading French automotive insurance firm that provides drivers with warranty extensions and maintenance contracts. Acquired in 2014 by BNP Paribas Cardif, it recorded revenues of 120 million euros in 2017.
Under a new board, Icare hatched an ambitious growth plan for Europe. Its data strategy was to be an integral component of this. Utilizing Cardif’s Datalab, Icare decided to identify opportunities to use advanced analytics, such as artificial intelligence (AI), for value creation.
We began by holding workshops with Icare’s main divisions – actuarial services, marketing, and call center – to brainstorm use cases where the application of analytics promises the greatest business benefits. From this, three use cases were selected, including using AI to automate certain call center processes. A detailed description of each use case was provided, along with cost analysis, a comprehensive feasibility study, and a proposal for the implementation roadmap.
By distinguishing disruptive use cases along Icare’s value chain, the project helped pave the way toward full claim automation of Icare’s decision-making process, which should increase efficiencies in the future. Icare now has the toolkits and roadmap to accelerate the enrichment of its business model.