AXA Commercial Lines sets out strategy to 2015

AXA Commercial Lines has today set out its multi channel distribution strategy that aims to see the insurer grow revenues to £1.2 billion with a COR of 95% by 2015.

Amanda Blanc, CEO AXA Commercial Lines comments: “AXA Group has signed off our strategy to 2015 demonstrating their endorsement of our achievements so far and a commitment to the future. My leadership team is fully aligned to our new goals and priorities and the level of focus and commitment that is being shown in all of our teams is fantastic. We are building a business that will be a major force in the marketplace.”

AXA Commercial Lines will continue to be an SME specialist focussed on two key areas: ‘simple’ SME – products e-traded through software houses, and ‘complex’ SME – products that are manually underwritten through branches.

In addition the business will maximise its expertise to develop profitable business in other areas such as Mid-Corp. Bluefin is central to the strategy; it will increase its profit levels through efficiencies, building on existing skills in schemes and affinities as well as pursuing a targeted acquisition strategy. There will also be investment in sales capabilities to increase new business penetration.

Creating a culture based on empowerment and engagement underpins the strategic ambition. Specific initiatives such as underwriting and sales academies leveraging Chartered Insurer status will be initiated to improve the capability of AXA’s frontline trading teams.

AXA Commercial Lines can also announce that it has appointed Acturis to develop its e-trading capability.

Amanda Blanc, CEO AXA Commercial Lines, comments: “Acturis has a proven track record of delivering to plan which makes me very confident that we have the right partner on board to achieve our ambitions. We’re aiming to launch 10 new e-commerce designed products by the end of 2012. Our aim is for these to be low cost, low referral purchases for brokers.”

Theo Duchen, Co-CEO of Acturis adds: “We are privileged to have been selected by AXA Commercial Lines to work in partnership on this critical project. AXA has correctly understood how important it is to have a winning eCommerce and eTrade proposition, and we look forward to helping them improve their market position in this area.”

Amanda Blanc concludes: “We have already achieved a great deal. In just five months we have successfully implemented a major restructure to give ownership back to our branch network; recruited major market figures to lead our teams; launched two new regional branches; achieved closer integration with Bluefin; achieved Chartered Insurer status to continue to drive high standards of professionalism, and delivered a new strategy for the business to 2015.

“We have already had some major achievements so far this year and the Claims service we deliver continues to be first class. Our financial results, such as retention, are improving and we are on an upward trajectory. What is most important is the fact that our brokers are telling me that we are setting the right course for the future. It is now time for us to deliver on our promises day in day out to achieve our ambitions.”

Category: Axa Insurance News, Companies News, Insurance News