色多多视频

On the occasion of the 6th edition of Viva Technology, Europe's number one startup and tech event, Georges Desvaux and Scott Gunter give their take on digitalization in the insurance industry and share the details behind AXA’s new Digital Commercial Platform. 

Digitalization has been the trend in nearly every global business sector, including insurance. What is AXA’s ambition when it comes to Data & Digital and how does it relate to its broader strategy? 

Georges: Our customers want AXA to be a true partner and to bring more than “just insurance.” They recognize that the world and the risk landscape are changing at an unprecedented pace, which warrants changes to the way that they do business and how they protect what matters to them. Data & Digital enables us to deliver solutions to this challenge. Our ambition, both at AXA Group and 色多多视频 is to deliver new services which complement traditional insurance and better protect our customers. We are transforming our own vision of what an insurer is, from payer to partner, with our clients every step of the way. Digital innovation is at the heart of Driving Progress 2023. Without it, there would be no possible way for us to accomplish our strategic plan. For example, AXA XL’s Poseidon platform allows real-time monitoring of shipping vessels. Through this platform, we offer our clients a comprehensive view of their assets and how they are exposed to perils. Clients can also receive real-time alerts and advice from our prevention experts.

AXA recently launched a Digital Commercial Platform (DCP). Is this a central component of Driving Progress? 

Scott: With the DCP, we are going to be expanding and growing our services to our P&C Commercial clients while simplifying our customers’ experience, strengthening the protection we offer as an insurer, and contributing to sustainability. Our ambition is to develop an innovative global solution that provides value to our commercial lines clients beyond protection, by providing assessments of risks, and prevention advice and services not just the former – because we recognize that traditional insurance is no longer the sole answer to our clients’ evolving risks.  

What do you think have been the contributing factors to this shift to focus on prevention? 

Georges: Two key trends have converged to tip the scales: the growing complexity of risks we face as a society, and the ever-increasing availability of data and artificial intelligence tools. In some ways, one begets the other. Our aspiration as commercial insurer is to help industries develop their businesses by protecting them from risks. However, many new risks emerge, as the industry evolves, such as increased severity of Nat Cat on physical assets, or cyber security on the ever-increasing digital part of the economy. To protect these, we need risk transfer but more importantly prevention to reduce the risks and severity of claims, thus fulfilling our role as partners. 

Scott: Absolutely. We have access to an enormous amount of data and new technologies, such as satellites, drones, and sensors, to evaluate and even “predict” adverse events in real-time. These tools allow us to be there for our clients, many of which are among the largest companies in the world, in ways we could have never previously imagined. 

Georges: That’s why moving towards prevention has become both feasible and critical. As I mentioned, I believe prevention through predictive technologies will become commonplace in certain insurance sectors. And this isn’t simply an internal perspective. In conversations with our clients in recent years, the vast majority cite how important prevention is and that they expect their insurer to be able to help them mitigate risks in their business, no matter the industry. 

How exactly do you see preventive technologies changing the insurance landscape in the future? What advances are we likely to see?

Georges: Let’s take commercial buildings as an example. It’s easy to envision a near future where fully connected, smart buildings can self-report fire risks and request repairs based on data from hundreds of sensors parsed and evaluated through artificial intelligence, a collective “consciousness” for building health. As AI technology becomes commoditized, there are myriad applications to leverage its predictive power. One can imagine every home eventually having access to similar technology. Clearly, this would significantly shift insurers' relationships with their clients, from today’s model where insurers are viewed primarily as “payers,” only involved after an accident or disaster, to partners in ongoing risk mitigation. 

With DCP, fundamentally, we are building a platform for insurance and risk management services that will transform our value proposition and the way we operate to serve our clients.