Clients are at the heart of our strategy, and we see many opportunities to support them in the global corporate, mid-market, and specialty risk segments by providing a wider range of solutions that help attract investments and reduce the risks associated with innovation.
A partner for the transition
Two years ago, FERMA’s members called on the industry to urgently address insurance-related issues that could slow investment in the transition.
AXA was among the first insurers to get involved in the fight against climate change, but we are now moving beyond high-level initiatives, developing practical solutions that will support businesses during the transition. This is where we believe we can make a difference.
Our risk consulting teams are already working with clients to minimise risks associated with green technologies, while at the same time supporting captives, which play an important role in understanding risks where we do not yet have enough data.
Backing green energy
It is critical to accelerate the transition of the energy sector towards a more sustainable model. Our role is to encourage and support companies as they implement ambitious transition plans and adopt green technologies.
We are stepping up our commitment with energy and transport industries as they transition towards renewable energy sources. Our teams are supporting clients in offshore wind and solar, as well as the battery gigafactories needed to power electrification.
Also, our political risk and credit insurance business is helping facilitate financing of green energy projects, as well as the huge investments required in upgrading infrastructure.
Helping firms adapt
2023 was the warmest year on record and saw economic losses from natural catastrophes in the EMEA region exceeding $150 billion, according to Aon. This year has seen devastating storms and floods in Germany and the United Arab Emirates, and wildfires in Greece.
Despite a tendency for more extreme weather events, we continue to support businesses and governments as they adapt to a changing climate. Our solutions are in line with the current level of risks, and we are convinced that the best way to support clients comes from better anticipation and preparation for these risks.
Last year, we launched a wildfire risk prevention service that uses satellite imagery to help clients identify sites exposed to wildfire, and to implement appropriate risk management measures. We also launched AXA Immersive Solutions, a training solution that enables clients to visualise and experience risk scenarios – such as flooding or fire, using Virtual Reality technology.
Digital journey
As the need for cyber insurance grows globally, across all industries, we are stepping up our cyber risk management capabilities.
We recently launched our Cyber Center of Expertise that brings together AXA’s collective expertise in cybersecurity, data protection, and risk management to develop effective solutions tailored to clients’ needs and help them manage cyber risks.
A great example of this is a cybersecurity initiative launched by AXA France to raise awareness about the potential for cyberattacks around the Paris Olympics.
Whether it is the energy transition or cyber, we want to be the insurer that enables companies to do more.
