AXA - Digital Transformation Strategies

AXA - Digital Transformation Strategies

Summary

This report provides insight into AXA's fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

AXA is a global insurance company offering both life and non-life insurance products. It offers life insurance and savings products such as individual life insurance, group life insurance, health and personal protection products, and individual and group savings retirement products. It also offers property and casualty insurance products such as motor, household, property, and general liability insurance, as well as retail banking products and services. AXA serves both individual and business customers through a network of agents, a salaried salesforce, brokers, independent financial advisors, and bank networks. It also distributes its products through direct sales channels. AXA operates via six geographical segments: France, Asia, Europe, AXA XL (the US-based subsidiary of AXA), Transversal & Central Holdings, and International (which comprises Africa, Latin America, and the Middle East). The company has five operating divisions: Property & Casualty, Life & Savings, Health, Asset Management, and Banking.

Scope

• AXA developed a GenAI platform named AXA Secure GPT to address security concerns associated with open tools. This platform, created by AXA's in-house experts and built on Microsoft's Azure OpenAI Service, allows AXA staff to securely generate, summarize, translate, and correct texts, images, and codes.
• AXA has launched a Digital Commercial Platform as a part of its strategic plan called Driving Progress 2023. This platform aims to enhance the services offered to its commercial clients by combining real-time data from satellites, drones, and sensors with AXA's expertise in risk prevention, underwriting, and claims.
• AXA is continuously focusing on its Move to the Cloud initiative to transform its legacy systems by managing data on cloud infrastructure. AXA is adopting its cloud strategy to leverage innovative technologies such as AI, chatbots, and image recognition.
• AXA plans to expand its health and protection business across the world by offering innovative services beyond regular healthcare insurance products. In 2023, as a part of this initiative, AXA along with Microsoft created a digital healthcare platform called Healthanea that simplifies healthcare experiences for customers and offers a suite of services.

Reasons to Buy

• Gain insights into AXA’s fintech operations.
• Gain insights into its fintech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, and investment strategies.