AXA partners with LIMRA to boost agency channel growth

Firm seeks to determine the predictors of success as an insurance agent

AXA partners with LIMRA to boost agency channel growth

Insurance News

By Gabriel Olano

AXA Asia and Africa has partnered with LIMRA to grow the size and quality of its agency force through the AXA Prime programme.

The AXA Prime programme was established last year, with a goal to set new industry standards by focusing on the quality of service provided, not just on the amount of premiums sold. It also showcases the top performers in AXA’s agency force, to serve as motivation for existing agents and to attract new talent, the insurer said.

The new partnership with global trade association LIMRA will seek to identify the biodata and behavioural profiles of both current and potential members of the Prime programme, to ensure these candidates have the aptitude and enthusiasm for the business. AXA aims to come up with a method to identify the qualities its agents and leaders should look for in new hires, as well as have a science-based method to assess psychological traits that can be predictors of success.

“There are many insurance agents in the market, but not all of them have the skills and expertise that customers deserve,” said Gordon Watson, CEO of AXA Asia and Africa. “By combining the expertise and data of AXA and LIMRA, we can ensure that our Prime agents are true professionals that our customers can trust to help and support them at every stage of their lives as a partner and not just as a payer of claims.”

In recent years, AXA launched several digital tools to support its agents, enabling simpler processes in areas such as sales and claims. It also provided a range training modules and material – available online or face to face – to update agents on the latest technology, financial regulations, and business opportunities. In 2020, the company’s focus on improving professionalism of its agents under AXA Prime, through improving customer service and driving higher digital adoption, was a success, the insurer said. Despite the COVID-19 pandemic, AXA’s full-time Prime agents were able to continue doing business through a series of remote-selling tools.

“We are delighted to be working with AXA on this important programme,” said Paul Arrowsmith, president of LL Global International, LIMRA’s parent company. “This process will be iterative and will allow AXA to continually improve its predictability in choosing the right candidates. Given scoring is key for success at AXA, we will also support them by gamifying the process, as the company promotes Prime through paid media to target, attract, engage and on-board new hires.”

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