AXA positions itself as an innovator in Insurance by launching new products & services at Broker seminar

AXA Insurance Gulf one of the top five insurers in the GCC organized a seminar for their brokers. The annual gathering aims at updating its partners on new initiatives, providing them an opportunity to meet AXA’s management and showcasing the company’s plans  for achieving its common ambitions while using the brokers as key partners in the process.

Jérôme Droesch, CEO of AXA Gulf, highlighted the successes achieved by AXA, presented updates on the company’s performance and outlined his strategy for the future. He said “We are looking to expand aggressively across the GCC and we are concentrating our efforts on innovation by beefing up our distribution, enhancing our customer services and continuing to invest in our IT solutions and infrastructure. To achieve our Ambition, I have reinforced the expertise of my Executive Committee through various changes”. To this end he announced three appointments; Cedric Charpentier, Chief Sales & Distribution officer who will concentrate intensely on growing AXA Gulf’s distribution network, Toby Sizeland as Chief Officer P&C whose technical expertise and global know how will support AXA’s ambition of growing mainly in the Corporate segment and finally Dominique Herbrich, Chief Officer Health & Life.

Once again, AXA wants to reinforce its differentiating elements in the market. It has announced several initiatives from new products, new expertise to a new IT system for intermediaries.

AXA has introduced a slew of new products this year. The most recent one is ‘Motor Fleet Secure’. Designed to insure fleets of cars and or commercial vehicles, the product is ideally suited for small to medium sized fleets of 3 or more vehicles. Also launched earlier was Personal Accident, its Well Being feature and a bouquet of enhancements for products catering to the SME segment. All these new products will support AXA Gulf’s ambition to grow in its strategic segments such as Employee Benefits (including Medical), SME and Corporate Risks. 

From the service side, AXA has introduced its Webmed solutions – a single retail sales portal that generates quotations and issues policies for its retail products. Webmed will provide a unique Sales front to brokers and its distribution partners across all its retail products with added functionalities. This makes it easier to measure and track sales whilst also reducing administrative costs. A new claim system is also under way.

And finally in the area of Expertise, AXA has introduced a dedicated Marine Risk Management resource. Crucial for Cargo insurance, the Risk Management resource gives AXA the opportunity to write difficult business, be competitive and give the brokers a unique advantage to sell AXA’s marine products. This Risk Management resource is particularly advantageous for the logistics and construction sector and AXA Gulf is the only insurance company in the Gulf to have invested so far in this type of expertise.

Mr. Droesch also said that AXA Gulf would use its strong assets and skills to grow fast in the market and continue to innovate. “We’re expanding both geographically as well as on our product portfolio by offering new solutions and we will continue to innovate and concentrate on increasing our footprint in the region. We want to be closer to our customers, respond to their growing expectations and be available to them whenever they need us”

The seminar was attended by around 200 brokers and the interaction proved fruitful as the management had the opportunity to get useful feedback from its partners. They were also able to discuss key topics concerning the insurance industry at large.