At Aventum, we believe in harnessing the collective genius of our team to drive forward-thinking solutions and push the boundaries of what's possible.
Our first-ever flagship innovation challenge, The Bear Cave, exemplified this commitment to innovation. Inspired by Dragon's Den and The Apprentice, The Bear Cave invited all colleagues to submit their most groundbreaking ideas to improve our business. The result? A vibrant showcase of creativity and collaboration that has truly moved the dial on innovation at Aventum Group.
Purpose of The Bear Cave
The criteria for the ideas were clear and focused. Proposals had to either provide a new source of revenue, save money through efficiency gains, improve the working environment or make Aventum a more sustainable business. Each idea was judged on its own feasibility, innovation and impact.
Solicit Innovative Ideas
We aimed to gather forward-thinking ideas from across the business for experimentation or implementation.
Cultivate an Innovative Culture
Our goal was to foster an even more innovative culture within Aventum.
Empower All Voices
We wanted to provide a platform for surfacing ideas, especially for those who may not usually voice their suggestions.
Throughout the competition, ideas were developed into coherent visions and pitches, with finalists recruiting colleagues to join their teams. To ensure technology ideas were brought to life effectively, we enlisted the expertise of our Tech and Innovation Lab teams.
The grand finale saw our finalists pitching their refined ideas and in some cases demos, to a panel of judges, including our CEO David Bearman, James Fairgrieve and other key members of the business. The competition was fierce and the ideas were fantastic, but there could only be one winner.
And the Winner Is…
We are thrilled to announce that the winning pitch came from Lee Ellis, who proposed an AI Assistant Underwriter.
This innovative solution leverages AI to triage submissions and identify if they are within appetite. Lee’s working proof of concept will be developed into a production application in the coming weeks, showcasing our commitment to turning visionary ideas into reality.
As part of his reward, Lee received VIP tickets to the recent F1 British Grand Prix at Silverstone, an experience that matches the high-octane excitement of their victory in The Bear Cave.
Lee said, “Presenting a Dragons' Den-style pitch on camera to senior executives was an intense experience. I started confident, but once in the room, I struggled with the slides and initially lost my words. However, I quickly found my rhythm, thanks to the encouraging judges. While it would have been simpler over Teams, I'm grateful for the in-person challenge.
The highlight? My idea is moving forward, and I’m convinced it will significantly enhance everyone's lives. This experience was demanding but incredibly rewarding.”
Reflecting on the Impact
The Bear Cave has been a resounding success, not only in generating brilliant ideas but also in how it energised our company culture. We have seen incredible levels of participation and engagement from colleagues across all trading verticals and divisions, highlighting a strong desire to contribute to our collective success.
By providing a structured platform for innovation, we have unlocked a wellspring of creativity and positioned Aventum for a future filled with new opportunities. The Bear Cave has proven when we tap into the power of the team's collective intelligence, we can achieve remarkable things.
Post Bear Cave 2024, we remain committed to creating an environment where every voice can be heard and every idea can be explored. The Bear Cave is just the beginning, and we look forward to the many innovations sure to follow.
Thank you to everyone who participated and made The Bear Cave an unforgettable experience. Together, we are shaping the future of Aventum, one innovative idea at a time.
Stay Tuned
Keep an eye out for more updates as we bring the winning idea to life and continue to build on the momentum we have gained. The future is bright, and at Aventum, it is powered by innovation.
