Cattolica and Google Cloud: a strategic partnership for a Data Driven Company
Cattolica and Google Cloud have been working together over the past 18 months to embark on the digital transformation process and thus continue to improve the quality and efficiency of services offered to customers. Cattolica has chosen a scalable and reliable data management platform that has accelerated the transformation process envisaged in the 2018-2020 Business Plan.
Milan, 30 January 2020 – Cattolica Assicurazioni has chosen Google Cloud as a technological partner to embark on the digital transformation process and thus continue to improve the quality and efficiency of services offered to its customers. The aim of the collaboration between the Veronese insurer and the Mountain View company is to support the project to transform Cattolica into a “Data Driven Company”, as envisaged in the Group’s 2018-2020 Business Plan.
The technological infrastructure can analyse real-time structured and unstructured data in a simple, secure way, benefiting from data management that is balanced and innovative and that complies with the latest data protection regulations. By enabling new methods of analysis and management, the Google Cloud Platform technology has helped to increase the value of Cattolica, which now has a platform that speeds up the management of projects that require the analysis of large amounts of data, such as compliance with IFRS 17, the new accounting standard for the insurance world that will come into force from 2021.
Cattolica has implemented Google Cloud products as part of the digital transformation path: BigQuery and Dataproc services have given the company high scalability, increasing productivity in data analysis, while Artificial Intelligence Cloud APIs have made it possible to build machine learning models essential for Cattolica’s business, such as the identification of repetitive elements to recognise fraud attempts in claims management.
Thanks to Google Cloud’s enabling technology and a unique mix of expertise in the national insurance landscape, Cattolica has been able to leverage innovation to accelerate its processes and apply scalable solutions in different areas of its business. These include the integrated analysis of claims-related information held by the company (documents and images) and the implementation of artificial intelligence engines designed to increase the effectiveness of anti-fraud measures and the identification of efficiency factors in the appraisal and customer settlement processes. Adoption of the technological solution has also helped to create a framework of unique customer management metrics and increasingly sophisticated analysis oriented towards the sustainable development of the business.
Alongside this technological transformation, the organisational structure has also evolved, with the creation of a new Insurance Analytics area as a business unit. Highly qualified staff have been working closely with Google Cloud experts on the analysis, development and application of machine learning models. Over just a few weeks, Cattolica activated the “Data Scientist Lab”, in which IT and business professionals work in symbiosis, combining skills and using common languages and tools.
Valter Trevisani, General Manager of the Cattolica Assicurazioni Group, says: “The ability to manage and analyse data has always been one of the most important competitive factors for insurance companies. That is why, at a time of profound technological change, we have chosen to build a modern and scalable infrastructure, relying on the expertise of Google Cloud and accelerating Cattolica’s transition into a Data Driven Company. Our knowledge of the business, enriched by the technological capacity of the Data Platform, is improving our way of doing insurance and has strengthened our position as a dynamic and innovative company. For us, digital is a tool that serves employees and distribution networks, with a view to constantly enhancing the offer to customers.”
Fabio Fregi, Google Cloud Country Manager for Italy, says: “We are delighted that the adoption of the Google Cloud Platform is making a positive contribution to Cattolica’s achievement of the digital transformation goals defined by the company in its business plan. The journey we have embarked on together, and the areas of application, demonstrate how Google Cloud can support the transformation of businesses and organisations in even the most traditional industries, such as the insurance world.”