July 2006

AXA adds to Imarket trades

AXA will target 2,000 brokers nationwide in the coming months in a bid to increase the number of firms trading
commercial business online.

The insurer has increased the number of commercial policies available on its AXA Business Risk (ABR) website from 214,200 in June 2005 to 300,000 policies this year.

In total, 60% of its commercial business is now done through ABR.

The insurer is using its 12 e-consultants to encourage brokers to use e-commerce such as Imarket or ABR.

Frank Woods, premier partner distribution manager at AXA, said: “We see technology as the answer. Only now is there a route to go down and that is web-based technology. There is a vehicle there now that we can adopt to provide a solution to things such as contract certainty.”

AXA intends to roll out five further products on Imarket through its software house partner, Acturis, by the end of 2006.

The products, which include hotels, pubs and restaurants, working from home, flats and property owners, will be available for new business, mid-term adjustments and renewals via Imarket.

These will add to the fully integrated products already available: venture plus (tradesmen’s insurance), shops, offices and surgeries.

Woods said AXA would put products on to other software
house in the near future

Insurance Times

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