Armin Kia was part of our Full-time MBA class of 2014. Now, he's co-founder and CEO of Driverly - an insurtech using AI-powered intelligence to revolutionise the car insurance customer journey.
After completing his MBA, Armin spent 7 years working for Admiral Group before starting his entrepreneurial journey with car insurance company, Driverly.
The networks and learnings he developed on the MBA have helped the business go from strength to strength.
"An MBA at Alliance Manchester Business School (AMBS) is a lifetime investment. You build relationships that can be relied on ten years later. I’m honoured to have the trust of seven fellow MBA classmates in my business, Driverly.
"Our story wouldn’t be such a great success without the support of my AMBS community."
Armin Kia, Driverly CEO and Full-time MBA alumni
The leap into entrepreneurship
The idea for Driverly was born out of a desire to address inefficiencies in the car insurance industry. Following his MBA, Armin, who was working at Admiral Group, saw firsthand the limitations of traditional underwriting, pricing, and risk assessment models.
"The opportunity to leverage AI and digital technology to disrupt this space was too exciting to ignore," he says. However, he wouldn’t have taken the leap without three key factors: a strong co-founding team, market validation, and investor confidence.
"Even before launching, we had early commitments from high-calibre investors, including industry veterans. With all these elements in place, I knew it was the right time to start Driverly."
Transforming car insurance through AI
In the evolving landscape of Insurtech, Armin's company, Driverly is making waves by revolutionising the car insurance industry. With an AI-powered approach, the company is shifting risk assessment from outdated demographic models to real-time driving behaviour. This ensures fairer and more accurate pricing for customers.
"We provide car insurers with AI-powered geo-intelligence data that helps them assess customer risk based on real-time driving behaviour rather than outdated demographic factors," explains Armin.
"Our technology eliminates the need for intrusive black-box devices by leveraging smartphone data, making it more accessible and cost-effective for insurers and customers alike."
From MBA to CEO
Before founding Driverly, Armin spent seven years in leadership roles at Admiral Group, focusing on product innovation and new business development. His career path was also shaped by his MBA at AMBS, where he graduated in 2014.
"The AMBS MBA was instrumental in my journey as an entrepreneur," he says. "It gave me a broad business perspective, covering finance, strategy, marketing, and leadership."
Armin highlights four major takeaways from his MBA that continue to shape his work at Driverly:
- Entrepreneurial mindset - the programme reinforced his ability to identify market inefficiencies and develop solutions.
- Problem-solving skills - the case study and consulting-led approach trained him to analyse complex challenges, a skill he now uses daily.
- Networking and relationship building - the MBA helped him build his co-founding team and early-stage customer base.
- Leadership - managing a fast-growing startup requires agility, and his MBA experience in leadership has been invaluable.
Applying MBA skills in business
Many of the skills gained from his MBA remain relevant in his day-to-day work at Driverly. "Strategic thinking, financial acumen, leadership, negotiation, and data-driven decision-making are all critical elements of running a successful Insurtech startup," he notes.
His advice for those considering an MBA? "Be clear on your goals, leverage the powerful AMBS alumni network, and see your classmates as your future partners. Your classmates can be your best assets in your career, whatever sector you're in."
The value of the MBA network
Two of Armins classmates from the Full-time MBA class of 2014 invested in the company.
Dimitar Iliev, who was also part of the MBA class of 2014 and an investor in Driverly, recognises the startup's potential. He said, "Driverly is probably one of the 10-12 startups today that have the potential to disrupt the Insurtech industry by opening up service customisation and standardising real-data decision-making. I wanted to be part of that transformation."
Jason Havinga, also an MBA class of 2014, explains his decision to invest in Driverly: "I invested in Driverly because of their innovative technology and the team’s remarkable ability to quickly assess situations and pivot when needed.
"Their adaptability and forward-thinking approach make them a standout in the industry." Jason has not only invested in Driverly, but joined their advisory board to help with the strategic steering of the business.
A valuable network: the Full-time MBA Class of 2014 at their graduation
Why Manchester?
Choosing Manchester for his MBA was a strategic decision. "AMBS has a strong focus on real life consulting projects, which helped me apply theoretical learnings in practice," he explains. Additionally, the School's reputation, diversity, and experiential learning opportunities played a key role in the decision.
"The international student base provided exposure to different markets, which has been crucial in scaling Driverly globally."
Favourite course and best MBA memory
Armin's favourite course was on the MBA was Strategy, which he continues to use in his professional life. "Since graduating from AMBS, I've always been involved in launching new products and entering new markets. My learnings from the Strategy course were instrumental in building these businesses successfully."
As for his favourite MBA memory, he recalls the International Business Project (IB Project) as a defining experience. "The project setup was similar to a real-life business environment, we built our own team, bid for our preferred project, and worked closely with the client. Our final presentation was deemed the best in 18 years of AMBS collaborations, and we won the AMBS award for the best IB project of the year."