The advantages of Joint Ventures agreements in Big Data: The KDP case

New trends in Big Data and data analytics in the banking sector and the best practices in customer-management were discussed during the TIC- Financing Workshop organized by Cluster Digital. David Comas, responsible for KDP in Grupo AIA, explained Grupo AIA´s vision of customers and services provider relationship.

Comas explained the evolution of Grupo AIA and Caixabank´ s joint venture created to develop innovation and Big Data projects and KDP (Knowledge Discovery & Predictions) was born.

In the beginning, the relationship between Caixabank and AIA was based on specific and short-term projects and evolved into a Business Process Outsourcing, BPO. Then, it led to the creation of stable data science and engineering teams for the integration of analytical models into customers´ infrastructure to facilitate data collection and analysis.

Later, the idea of a Joint Venture between the two companies emerged and KDP was created to provide added value to projects through training, team management by the most suitable data scientists and data engineers of Grupo AIA. Not in vain, there is 26% of PhDs in mathematics, and physics, 52% of engineers and 22% of professionals in basic science.

On the other hand, KDP has allowed CaixaBank to get data scientists to support continually and not on a single project-based approach.

After David Comas intervention, different representatives from Eurecat, Iberent, and LicenS3D took part at the round table to analyze different types of relationship models with customers and concluded that relationship varies according to customers size and needs.

Finally, Catalana Occidente and DKV discussed the difficulties of the insurance sector for the digital transformation and of taking advantage of advanced analytics and Big Data technology in their daily processes.

However, both companies admitted, CEOs see the advantages of using this complex analysis and that although it´s been a slow process they would soon adapt themselves into the Big Data era.