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Axa Commercial targets £1.2bn GWP by 2015

11th August, 2011
By Amy Ellis

Outlining Axa's strategy for the commercial lines business, CEO Amanda Blanc said that it aims to have a COR of 95% by 2015.

As part of its new "multi channel distribution strategy focused on SME", Ms Blanc said Axa Commercial has selected Acturis as an insurer system.

Matthew Reed, managing director of intermediary and direct at Axa Commercial added that the new strategy is two-fold - "simple and complex".

He explained: "With the simple products, we are stripping them out and making them easy to sell so they will be completely electronically traded through Acturis, and available on all software houses."

He added that by the end of 2012 it will have 10 simple products live on the Acturis platform, and is aiming to have three live by the end of 2011.

Mr Reed continued: "It is the only way for brokers to make money and part of helping them move their business on.

"Complex products are about empowering branches and having branches where its clients are, it is not difficult to understand what a broker wants and we need to be able to provide that."

Ms Blanc added that the new strategy will help the business recover in the SME market, which she admitted had lost "focus" over the past few years.

"We are very excited about it, it puts Axa and Bluefin as an integral part of the UK strategy," she said. "Our ambition is to take us from £800m GWP which we stand at now, to £1.2bn by 2015 with a market leading COR of 95%."

Axa Commercial will be carrying out road shows to present the strategy to its own staff around the country starting on 10 September.

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