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AXA Partners forays into new market with multi-million-pound deal

AXA Partners forays into new market with multi-million-pound deal | Insurance Business

AXA Partners forays into new market with multi-million-pound deal

AXA Partners is conquering new territory – collaborating with ScottishPower to provide home emergency cover to energy customers.

The long-term partnership, described as a multi-million-pound deal with no exact figures revealed, involves plumbing, drains, and electrical insurance and a corresponding 24/7 emergency response service. It is AXA Partners’ first foray into the utilities sector.

“Moving into the utilities market is a very exciting prospect for us, and we are thrilled to be doing so with ScottishPower,” commented AXA Partners sales director Charles Dennison. “It was the right move for both parties due to our respective market experience, credibility, and shared value for innovation.”

According to the AXA unit – which combines insurance, assistance, and other value-added services – the goal is to expand further into the utilities market with additional partnerships and offerings amid changing customer needs and the emergence of connected home and electric vehicles in the UK.

“Joining forces with AXA Partners enables us to build on our existing partnership strategy, delivering a wider range of products and services to help our customers keep their homes running smoothly,” noted Neil Clitheroe, chief executive of retail at ScottishPower.

The partnership ensures ScottishPower customers are covered through their utility provider, and thousands are expected to take advantage of the new services.