Avantia

Avantia is an intelligent home insurance business. We sell home insurance directly to customers through our Home Protect brand.
For years, only customers with the most basic needs could buy home insurance online — everyone else was forced to call. Home Protect was created to solve that problem. Our technology underwrites even the most complex customer digitally, and in less than a second.
We’re already the market leader for quotability in home insurance. This means that for every 100 people who ask for a quote online, we instantly offer a product to more than 98 of them. Our best competitors can only quote between 50 and 75.
Avantia is not built like any other insurer. Typically, insurers build their technology around a central policy system, which makes it very hard to use data across different parts of the business or integrate it with machine learning. We designed Avantia to work differently. Everything we do at Avantia is focused on using data to make instant, intelligent decisions.
Over the past ten years we’ve collected over five billion data points about UK homes and how people use them, and we add more every day. We regularly test our own data against the best providers in the market and often find our models are more predictive.
Like everything at Avantia, our technology is designed around our data. We designed a cloud-based technology platform which constantly organises, cleans, and distributes data using a real-time data stream. We call this platform Cortex.
Cortex recognises each time a customer interacts with us and gives us the opportunity to make decisions on how best to respond. We hire the brightest minds within and outside of the insurance industry — our teams even include a neuroscientist and a theoretical physicist. Together they have trained Cortex how to underwrite, customise, and price each policy using machine learning.
These solutions are market leading — in fact many of them are more advanced than even the best insurance systems you can buy today. This underwriting and pricing capability is powering our growth in revenue and customer base, whilst also delivering a reduction in loss ratio.
Our growth is accelerating as we push further out into the market, but the real potential of Cortex is still unfolding. Recently we integrated Cortex with Google to optimise our marketing in real time. Within days of going live, Cortex had improved our marketing return on investment by 40% — by learning exactly which customers to target and how to attract each one.
We’ll soon be using Cortex to manage claims. By harnessing what it has learned in risk pricing, Cortex will be able to decide which claims to approve, how much to settle, and how to optimise our supply chain autonomously.
We’re scaling the teams behind Cortex too — it’s a platform, so multiple teams can work to train new solutions in parallel. This is combined with scalable cloud technology so that we can grow much quicker than traditional insurance tech.
Avantia’s vision is to make every decision intelligent. Through our unique technology, we’re finding faster, better outcomes for customers, employees, and shareholders alike. The home insurance market is large and gives us enormous room for growth.