Legal & General partners NTT to build data science capabilities

Legal & General (L&G) has partnered with NTT DATA to help build its data science capabilities.

L&G stated that it will leverage its data to improve the delivery of products and services encompassing investment management, pensions, annuities and life assurance it offers to its 13 million customers every day.

L&G appointed NTT DATA to engineer an approach that would make data science accessible and change the way staff think about and work with data.

The result was the Data Science Launchpad, which included three primary workstreams:

• The training workstream: A six-week bootcamp for L&G employees gave them insights into data science and was designed to help them understand how it could be used in their business units.
• The prototyping workstream: This created and delivered data science prototypes to qualify business opportunities for data science. This is the first step in delivering value to the business.
• The tools workstream: A project to build tools and practical knowledge to support the internal data science community.

The Data Science Launchpad culminated in a conference earlier this year with 110 stakeholders from across L&G attending.

Peter Jackson, director of group data sciences at L&G, stated: “In recent years, the financial services market has opened up to digital disruptors and as a result, it’s undergoing huge change - we are injecting new ideas into the business and encouraging innovation.

“The challenge facing financial services is to leverage the value and insight in data," he continued, adding: "This was important in terms of data technology but also in terms of mind-set and data literacy."

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