Press Releases

Axa Launches Groundbreaking Autorated Commercial Combined

August 2010

Following a successful pilot of the Commercial Combined e-trade product, AXA are now releasing their product to all brokers on the Acturis platform on an open market basis. This further increases the autorate panel for the commercial combined package on Acturis, in addition to the existing LV=, QBE and RSA products, with Aviva also in development. This latest product, called AXA Small Commercial Combined, adds to AXA’s wide variety of successful e-trade products available on the Acturis platform, and reinforces AXA’s competitive ability in the e-traded world of Commercial Lines insurance. Theo Duchen, co-CEO of Acturis, comments: ‘Commercial Combined comprises the most premium in a broker’s Commercial Lines book, typically some 25% of GWP. For years people have been saying that this product is too complex and cannot be etraded. Axa’s product, and the addition of this product to the Acturis Commercial Combined panel just proves how wrong this view is, and how much progress has been made in the eTrade space in the last 18 months. We are very excited about this development and initial signs from the Axa pilot have been very promising’.

To ensure unsurpassed results with this product, AXA have acted upon broker feedback during the pilot. This has impacted positively on quote rates and price competitiveness. This, in addition to online underwriter referrals and a full suite of point of sale documentation produced upon quote and inception, offers yet more efficiency savings for brokers via the Acturis eTrade panels.

Angela Cleverly, AXA's commercial line eTrading manager adds "This is a really exciting addition to AXA's etrading suite on Acturis, and responds to a need for efficiency voiced by many brokers. It caters for over 1000 wholesale and manufacturing trades and we've already started contacting our Acturis using customers to discuss the details and explore together how the new product can contribute to their development plans. Following a comprehensive pilot, we're confident that, with over 800 auto-rated trades backed by underwriter intervention for more complex risks, the product will be well received and we look forward to further feedback from our Acturis brokers."