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Aviva CEO Says Insurance Sector in `Stone Age,' Needs Tech Deals

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"In the digital space we can produce products 30 percent cheaper than we could ever do it before," says Wilson.Source: Bloomberg

The insurance industry is “generally in the stone age,” and partnerships with technology companies are the way forward, according to Aviva Plc’s chief executive officer.

His company, the U.K.’s second-largest insurer, is working with Tesla on how to insure driverless vehicles, Mark Wilson said in an interview Monday with Francine Lacqua on Bloomberg Surveillance. Aviva is also looking into artificial intelligence and big data, he said.