AXA XL, the property & casualty and specialty risk division of AXA Group, has introduced a risk innovation incubator called Cube.
Available globally and described as the first of its kind, Cube will feature a series of workshops in which AXA XL and its clients test new risk management solutions to ultimately come up with a prototype and a supporting business case. The six-week program will see risk managers working alongside AXA XL risk and innovation experts.
“Cube supports our goal to go beyond traditional insurance to become a comprehensive partner to our clients,” said Philippe Gouraud, global head of strategic distribution at AXA XL. “The program’s structured and well-tested approach allows us to offer our clients a robust environment to innovate.
“We strongly believe that our co-creation approach fosters powerful innovation and helps our clients improve their risk profile.”
Meanwhile AXA XL digital leader Hélène Stanway believes evolving technologies and new ways of harnessing data are transforming both the way companies work and the way the insurer is able to gain risk insights to support them.
“Over recent years, we have successfully completed and scaled a number of innovative proofs of concept,” noted Stanway. “It is now time to leverage what we have learned, through a structured and repeatable approach, to work even more closely with our clients and help them solve some of their most challenging risk management issues.”