Innovation > Innovation

CARVERTER

GEOMETRY GLOBAL, London / CARVERTER / 2020

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Overview

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Overview

Why is this work relevant for Innovation?

Carverter is the first and only brand to use the scale and complexity of data available to present meaningful information to consumers.

The platform plugs in to DVLA data which allows it to immediately recognise your existing vehicle, it’s model type and specification. It also has access to the complete range of electric and hybrid-electric vehicles in the marketplace along with their makes, models and specifications.

Whilst there is plenty of data available, there is no single source and data is often incomplete or inconsistent, but that’s where Carverter comes in.

Background

The electric car industry is preparing for extensive growth. The market is saturated and confusing for consumers wishing?to switch to a green alternative.??

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Consumer awareness is there but turning this into actual sales is the challenge.??

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We needed to?convince environmentally aware consumers that electric vehicles are?attainable?and risk-free by launching the industry’s first independent?platform for buying an eco-friendly vehicle.??

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We needed to develop an ecommerce platform as a centrepiece for this industry-first launch. Integrated with multiple, unique data sources and presented in practical ways, to reassure consumers through their purchasing journey.???

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We needed to quickly launch a scalable solution to be the first to?capitalise?on the 32 million opportunities to switch to eco-friendly vehicles, with the potential to scale to other markets where there are a further 206 million opportunities to switch.??

Describe the idea

Carverter’s?mission is to help people “Go Greener Sooner”.??

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Carverter’s?independent, credible voice that the right eco-friendly car is already available to them –?Carverter’s?voice is designed to reassure consumers and simplify the process of making planet-friendly choices.??

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There is plenty of data available, but there is no?single source, and data is often incomplete or inconsistent, but?that’s?where the magic of?Carverter?comes in.??

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Carverter’s?proprietary matching algorithm helps its audience to overcome concerns around choice,?infrastructure?and cost. A consumer simply needs to enter their existing registration number, and the algorithm will?immediately?recognise the vehicle and match it with the nearest equivalent electric or hybrid electric car on the market.??

What were the key dates in the development process?

August 2019 -?Scope of Work agreed?

August – September 2019 – Technical Discovery?to?define data requirements?and test?data?sources from proposed providers?

September 2019 – Data?providers secured?and?APIs provided?

September?to?December?2019?–?UX, Design & Development over 6 Sprints?

January 2020 –?Platform?migrated to client?hosted environment?and?delivery approved?

April 2020 – TV campaign launch

Describe the innovation / technology

The?proprietary matching?algorithm?draws on?32?million?of data points for an impressive number of vehicles makes and models.?ARVAL and CAP HPI?are used to source data. ARVAL provides data specific to leasing options, and CAP HPI provides granular data related to individual vehicles.???

The?Carverter?platform plugs into DVLA data to?immediately?recognise your existing vehicle, model type and specification. It also has access to the complete range of electric and hybrid-electric vehicles in the marketplace along with their makes,?models?and specifications.??

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These data points are applied to a purpose-built algorithm?that generates the?Carverter?data set that allows intelligent insights to be made between vehicles.?

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The back-end admin area makes updating content and changing data manipulation rules quick and straightforward, always ensuring the?Carverter?platform is relevant and up to date.??

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With the smart manipulation of data, the?Carverter?presents meaningful information to consumers instantly. The complexities of the data manipulation and the relationships??

Carverter?has with its data providers, mean this would be difficult to copy.??

Describe the expectations / outcome

Carverter?is built for people who want to make a difference and move towards a sustainable future.?A typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year. Using?Carverter?to switch to an eco-friendlier vehicle, will significantly reduce this number.????

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Since its launch in November 2020,?Carverter?has had an average of 570,000 users per month, a 34% conversion rate and has made over 1.2 million offers.???

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The platform and impressive amount of data used led to a market valuation of £14M, and they have secured a further £2.5M in private investment as a result.??

Plans are already in place to roll out to 8 other?European?markets, and then platform is ready to be scaled across the world.

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