AXA XL has retained the top spot on Advisen’s Annual Pacesetter Index, an annual recognition of product innovation in the P&C insurance industry. This is the fourth consecutive year that AXA XL has achieved the prominent position, having introduced 16 new or enhanced property, casualty, professional and specialty insurance coverages or risk management services in 2019.
“2019 marked our first full year as AXA XL and our 4th year in a row of market-leading innovation,” said Greg Hendrick, Chief Executive Officer of AXA XL. “Even while completing integration activities and helping our brokers and clients maneuver through a more challenging, firming market, our attention to innovation never wavered and we launched 16 new and enhanced offerings.”
“At AXA XL, we’re intent on being much more than a payer of claims to our clients” added Mr. Hendrick. “We’re looking to become a partner to them throughout the entire risk management process, and innovation is a big part of making that transition. In 2019, we’ve already seen how it can be done, having launched pilot programs with clients to test new technology and working closely with brokers and clients to develop bespoke insurance products that allowed the launch of new business platforms.”
Advisen, a leading provider of data, media, and technology solutions for the commercial property and casualty insurance market, issues its Pacesetter Index annually. The index ranks insurers’ innovation advancements based on their new or enhanced product announcements.
AXA XL’s 16 new products and developments in 2019 included:
- A partnership with Expert System leveraging AI to enhance property risk engineering capabilities
- New Investor Protection Insurance in collaboration with InsurTech company, Assurely
- New Inland Marine Contractor’s Equipment Insurance
- First-party Cyber Insurance option added to Platinum Property Coverage
- SiteForward- an enhanced client portal offering “big picture” risk management capabilities
- AXA XL HealthAssist- Employer’s Liability Insurance in partnership with IPRS Health
- An innovative digital “Hot” wallet insurance solution for Hoyos Integrity Corporation