Davies Group announces the launch of its innovation lab.  Under the banner of ‘Disruptive Thinking’, Davies will significantly increase its multi-million pound investment in technology, digital transformation and product development. The programme has been co-created with proposition consultancy Market Gravity (a Deloitte business), and will see Deloitte Partner, and Head of InsurTech, Nigel Walsh remain closely involved through 2018 as an adviser and mentor.

The programme places the power of new ideas in the hands of Davies 1,100-strong team.  Davies aims to discover valuable ideas for its clients and its people, by using technology and creating a culture of innovation.  The creators of the best ideas will join an academy programme in early 2018 that will see them receive intensive training and culminates in a trip to Silicon Valley to pitch to a judging panel including: Nigel Walsh, Davies CEO, Dan Saulter, and its US private equity investor HGGC.  Davies has set aside significant capital to commercialise its best ideas to continue to solve business challenges for its more than 200 insurance and highly regulated clients.

Over the past three years Davies has more than tripled its investment in digital transformation, including in its Cq claims platform, its video claims handling solution, and the launch of its drone claims service.  In October Davies announced the acquisition of ServiceTick, adding customer experience and analytics to its suite of solutions and in 2016 Davies acquired SurveyorShip, a digital platform that helps insurance businesses defend credit hire claims.

Nigel Walsh, Partner at Deloitte said: “We are delighted to be working in partnership with Davies. By using new technologies, and providing access to our network of global FinTech labs we are enabling Davies to make headways in innovation and identify new avenues for growth.”

Dan Saulter, CEO of Davies said: “Harnessing the power of digital transformation and innovation is a prerequisite for success in the fast-changing global insurance and claims market.  We work in partnership with leading insurance businesses and other highly regulated organisations, and they expect us to lead, deliver change, and offer solutions to their challenges.  Our disruptive thinking lab will become a central plank in our technology and innovation investment, alongside our drive to develop and retain the best teams and help our clients to win.”