What was the M3 class doing at the biggest insurance company in the world on Monday? Well, we were wondering how we, as marketers, can help the insurance industry!

In the past month, we took a deep dive into the complex Big Data world: how can we implement analytics and machine learning techniques in marketing decisions and strategic planning? As research has proven that data-driven businesses show significantly better financial and market performance relative to competitors, the course of Big Data Driven Marketing is an essential part of our curriculum.

After getting familiar with some theory, the best practice of our understanding happened at the amazing AXA office in Brussels (the office building is indeed very impressive!). First of all, we were able to listen to some great data scientists who are part of the innovation team. They told us more about emerging market trends and how AXA is dealing with those trends, making use of data-driven solutions. We quickly realized that the insurance company goes beyond its horizons as AXA not only provides service, but it actually becomes a partner for life. Moreover, we were impressed by how many useful tools can be created by making use of some analytics. At the end of the morning, we got a lot of new insights that helped us to brainstorm in the afternoon.

During the lunch provided by AXA, we were able to network with some current trainees and Vlerick alumni. In this way, we could also learn more about what it is like to work for the biggest insurance company in the world. Afterwards, it was time to get to work. We got a short briefing on the challenge we got from AXA: deliver a visualized pitch about a data-driven innovation that AXA could implement within a few years. It was also necessary to think about concrete methodology and sources of data collection.

As the M3 class is used to working under pressure and delivering excellent results in a short time, we only got 1,5 hours to come up with a creative, data-driven idea. And although this seemed very short, every team was able to come up with an out-of-the-box innovation. The jury evaluated all teams very carefully, and “Eurovision”-wise, the jury as well as the other teams could vote for the best pitching team. Finally, Gunter Uytterhoeven, CMO of AXA, announced the winning team that got some reusable water bottles as a prize. And of course, what is a fun day without celebrating? The day ended with a reception where we could drink some champagne, eat snacks and talk with the AXA employees.

Another Vlerick day to remember!