AXA extends annual commitments to brokers

Mr Rocard said that the commitments, that include the ability for brokers to issue their own certificates of insurance and track claims much more easily via the AXA system, could be rolled out to other European markets in time if local brokers ask for it. ACS launched its first set of public service commitments to risk managers in France four years ago and has since extended these commitments to include other countries such as the UK. The commitments to customers include promises to speed up policy issuance, deliver timely engineer reports, manage accounts with more care and carry out formal annual business reviews. Mr Rocard said that it became increasingly clear, however, that the commitments should also include key brokers. “We have offered these engagements (commitments) to customers for four years now and we thought in the magic triangle of risk, comprising risk manager, insurer and broker, we could not leave the broker out of this. We have formal commitments to clients but this was not enough, we also needed to make commitments to the brokers as they are involved in the business in almost all the main countries,” Mr Rocard told Commercial Risk Europe after the company’s press lunch at AMRAE in Deauville yesterday.hideThe first commitment is to make it possible for the leading 15 brokers that deliver the bulk of AXA Corporate Solutions’ business to generate their own electronic certificates of insurance via its own system. The company has also decided to step up its communication efforts with the brokers through technical conferences and regional meetings. Mr Rocard explained that last year the company held a gathering of all AXA Corporate Solutions subsidiaries in Africa and the surrounding Mediterranean countries along with brokers, partner companies and customers. He said that this required a big commitment from AXA and its staff but was a very positive experience for the brokers and customers who posed a lot of challenging questions about changing rules, laws and the like. AXA Corporate Solutions has committed to holding both forms of events every six months in future. Another big commitment is the decision to introduce a system of ratings for group companies and partner companies. The ratings will be based upon speed and efficiency of policy issuance, claims handling and payment. Only about 10% of AXA Corporate Solutions’ business is generated by partner companies but Mr Rocard said that it remains very important because the group sells the quality of its network and so it is very important that it is ‘under control’. Other commitments to brokers include a promise that the quality of vessels charted by marine customers will be assessed in three hours and the appointment of in-house managers dedicated to brokers that demand individual servicing. Mr Rocard explained that the package had been created on the basis of in-depth interviews with some 62 brokers that was a very clear and honest process. “It was very helpful for us to carry out this process and think about it and where and whether action was needed,” he explained. Mr Rocard was positive about the year-end renewal for his business despite the generally reported high level of competition and still soft to stable conditions. He confirmed that turnover would be ‘flat’ for 2010 overall against a backdrop of still depressed economic activity but did say that the group had managed to achieve rates increases overall of 3.9% in corporate property business and 2.7% in liability lines during the year-end renewals. AXA Corporate Solutions also managed to retain some 96% of its customers at this renewal, said Mr Rocard.

AXA extends annual commitments to brokers

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