AXA PH Expects Digital Innovations to Drive Growth
Keeping up with the digital age and adapting to the latest technologies is a major part of the growth strategy of AXA Philippines, one of the leading insurance companies in the country.
This was revealed by Denis Duverne, AXA Group chairman, during his recent visit to the Philippines. “We do use new technologies in all parts of our businesses,” Duverne says. He adds that the Philippine entity is in fact quite advanced in the use of digital tools, accelerating its strategy to move from being a payer to becoming an encouraging partner.
“We are also constantly forging digital partnerships with new economy companies to help keep us up to date,” Duverne says.
AXA Asia CEO Gordon Watson who was also in town stressed the importance of data in their business. “Insurance is about data, so we use data analysis for better underwriting and to better respond to our customers,” Watson says.
“Our aim is to innovate our business model,” says AXA Philippines president and CEO Rahul Hora, “This is to enable our distributors to be better, by providing them tools, such as calculators for their tablets or laptops, which results in better quality transactions with their prospects.”
AXA is proud to have its e-Financial Needs Analysis platform that helps customers learn about their insurance protection gaps in relation to their financial goals so they can act accordingly. A ‘light’ version through the chat bot “Coach Finn” can also be accessed on the AXA website.
Other innovative solutions that AXA has rolled out in country include MyAmbition, an affordable investment and life insurance plan that was the first in the country to be made available online, powered by their proprietary e-commerce platform AXA Ion. Its travel insurance Smart Traveller is also available for purchase online.
For health plan holders, a medical teleconsultation service is made available to them. It enables customers to schedule and have a virtual medical checkup with a doctor over the phone for simple health concerns.
Auto security policyholders also benefit from the AXA Assist app’s red button emergency feature, which at one tap can respond to the caller’s roadside needs.
With further convenience in mind for its customers, AXA has also developed the e-policy. E-policy is an electronic copy of their customers’ insurance policy that they can print, save on their personal storage, and even e-mail to their beneficiaries.