SAN MATEO, Calif., Dec. 20, 2022 (GLOBE NEWSWIRE) -- Rockset, the Real-time Analytics Database Built for the Cloud, today announced that Allianz Direct is leveraging Rockset’s cloud-native technology to deliver real-time pricing for its insurance products, bolstering its position as the digital insurance provider of the future.
As risk mitigation becomes increasingly data-enabled, Allianz Direct, the pan-European direct insurer of the Allianz Group, is committed to building the future of digital insurance by providing the highest level of customer experience through digital transformation efforts.
Organizing around data mesh principles, Allianz Direct uses Rockset to enable its teams to build new data products in an agile, self-service manner. Allianz Direct now incorporates over 800 factors in their real-time pricing to deliver accurate quotes to their customers. Adapting these rating factors to pricing models is a continuous effort that would take weeks in the past, but Allianz Direct is now able to tune their pricing models in 1-2 days with its new self-service approach. Additionally, the insurer uses Rockset to power real-time analytics for customer 360 views and fraud management.
“Digitization is a component of growth in the insurance industry,” said Matthias Wesolowski, head of engineering at Allianz Direct. “Our mission at Allianz Direct is to push the limits of technological innovation to become the most efficient, customer-oriented direct player in the market. With Rockset, our teams now have unprecedented flexibility to deliver new data products that leverage real-time analytics on streaming data.”
Rockset’s schemaless ingest and fast SQL queries, enabled by its Converged Index™, allow Allianz Direct to easily introduce new risk factors into its models to increase the accuracy of real-time pricing.
Rockset’s integration with Confluent Cloud, a fully managed service for Apache Kafka, delivers a modern, cloud-native real-time data stack that processes billions of events while enabling sub-second SQL analytics, without needing to manage infrastructure or overprovision resources. Rockset’s native connector for Confluent Cloud, enables Allianz Direct to index any new streaming data with an end-to-end data latency of two seconds.
“Rockset’s fully managed cloud service makes it possible for organizations to realize real-time analytics without making a massive engineering investment,” said Venkat Venkataramani, co-founder and CEO of Rockset. “Using our real-time analytics platform, valued customers like Allianz Direct are able to stay agile while taking advantage of real-time data to become the most innovative and efficient insurer in the market.”
To learn more about how customers are driving real-time data strategies with Rockset, click here.
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About Rockset
Rockset, the Real-time Analytics Database Built for the Cloud, delivers fast analytics on real-time data with surprising efficiency. Search, join and aggregate any data at scale with sub-second response. Scale efficiently with Rockset’s converged indexing and built-in connectors. Build data apps in weeks, not months, regardless of the shape of your data. For more information, go to rockset.com.
About Allianz Direct
Allianz Direct is the pan-European direct insurer of the Allianz Group and is building the future of insurance. Guided by its mission to become digitally unbeatable by focusing on competitiveness, outstanding service, and excellent customer experience the insurer is setting a new standard within the insurance industry. Allianz Direct is characterized by agility, global know-how and deep customer understanding, and is thus leading the digital transformation in terms of technology, product development and service experience within the Allianz Group.
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