1st Central Leverages Cloud Tech, AI for Insurance Revolution
1st Central, a UK insurer founded in 2008, has made significant strides in transforming its business through the use of cloud technology and artificial intelligence. According to John Davison, Chief Information Officer, the company's original vision was to understand risk more precisely by analysing detailed data quickly.
The firm has invested heavily in digital services, self-service capabilities, and data platforms that allow it to respond quickly to changing customer needs or market conditions. This has enabled 1st Central to design, build, and launch new digital products within a three-month window, giving the company a competitive edge.
The company's cloud-first approach, which saw its data platform and core insurance systems moved to Microsoft Azure, has provided the necessary computing power to handle increasingly large data sets. This has enabled 1st Central to process around 600,000 insurance quotes daily, with each quote analysing approximately 5,500 data attributes in just over two-and-a-half seconds.
The company is now using Microsoft 365 Copilot and Microsoft 365 E7 to leverage artificial intelligence and automate tasks. Employees use the AI assistant to find information, summarise documents, and accelerate research, saving around 6,500 hours of work each year.