The company is the result of the 1998 merger of General Accident and Commercial Union, forming the CGU. In 2000, CGU also merged with Norwich Union to form the CGNU plc. In the move to strengthen the company’s brand name, the name was changed to Aviva in July 2002.
Aviva’s activities are categorized into long term savings and fund management. The company is engaged in investments, general insurance and health care services. In 2007, the company reported revenues from insurance premiums and sales from investments of £38.6 billion. The company manages assets amounting to £364 billion.
In 2003, Aviva started the telematic technology which the company called “Pay As You Drive.” The technology provides customized insurance products to motor owners. Pay As You drive is capable of computing insurance premiums based on the distance the client has driven the vehicle. GPS is installed to the car to allow the technology to work.
The technology has enhanced client interaction and has deepened Aviva’s relationship with plan holders. In spite of stiff competition, Aviva has held the edge especially among the first time drivers because of this unique innovation.