French insurer AXA has introduced a programme to develop a platform, which will bundle multiple services including sustainability and risk management to serve its commercial clients.
The new Digital Commercial Platform is intended to ‘transform’ the firm’s value proposition, aligning with its Driving Progress 2023 strategy.
It will initially host data based open ecosystem AXA Climate and risk management network AXA Smart Services.
AXA Climate will offer various sustainability services to public and financial institutions and large corporate customers. These services include insurance, financing, training, and consulting.
It will also include a digital learning platform, Climate School, to support a green transition for businesses and help corporates upskill their staff.
AXA Smart Services will offer risk insights and risk management capabilities to commercial customers, enabling them to monitor their fixed and in-transit assets in real time.
Besides, it will provide them with customised prevention as well as value-added services.
The Digital Commercial Platform will integrate the firm’s risk prevention, underwriting and claims expertise with real time data and analytics gathered via sensors, drones, and satellites.
AXA chief strategy and business development officer Georges Desvaux said: “We are at a tipping point in our innovation strategy. After having accelerated the development of our expertise and our culture of innovation throughout the company, we now want to integrate a comprehensive, data driven ecosystem of services across our key markets aligned with our main strategic priorities.
“The Digital Commercial Platform is a quintessential embodiment of this strategy, like the Digital Healthcare Platform that we successfully launched last year across Europe.”
Recent AXA moves
This March, AXA suspended new business and renewals in Russia in light of its military offensive against Ukraine.
Earlier this year, AXA UK&I acquired the renewal rights to Ageas UK’s commercial lines business.
The insurer is also reportedly seeking a majority stake in Banco BPM’s $1.6bn insurance business.