The initiative aims to advance next-generation risk management capabilities.
The AXA DCP is a secure risk management platform that integrates industry, business, and environmental data with geospatial analytics and AI technologies. It enables clients worldwide to monitor assets and navigate various risks, including natural disasters, supply chain disruptions, and cyber threats.
Over the next two years, AXA plans to leverage AWS analytics capabilities to offer services to existing clients and millions of AWS global clients through the AWS Marketplace and the AWS Data Exchange.
Commenting Scott Gunter, Chief Executive Officer of AXA XL, said: “Globally clients are grappling with extreme weather, cyber-attacks and other shocks and disruptions. We believe that building resilience is more essential than ever. That is why we are excited to be working with AWS, combining their tech capabilities with AXA’s expertise in commercial insurance to develop the next generation of risk management insights and services to help clients unlock their full potential.”
To implement the AXA Digital Commercial Platform (DCP), AXA will use Amazon Bedrock, a service offering a selection of top-performing foundational models from prominent AI firms. This will enable corporate clients to access real-time data and analytics, including comprehensive historical data sets. The aim is to identify and evaluate factors that could potentially disrupt operations or affect reputation, safety, security, or financial performance.
As a result, AXA’s risk prevention services, as well as underwriting and claims experts, will be better equipped to forecast outcomes and mitigate risks during the development of insurance products.
Speaking about the partnership Alexander Vollert, Group Chief Operating Officer, Chief Executive Officer, AXA Group Operations, said: “Amazon brings the depth of experience and broad portfolio of services we need to provide clients with world-class capabilities to help manage their risks. AXA’s work with AWS is integral to our business transformation, which includes the evolution of traditional insurance to risk prevention and mitigation. This will help us seize new market opportunities faster, strengthen security, and become even more responsive to clients’ needs.”
Kathrin Renz, vice president of AWS Industries, also said: “AXA is a customer-focused business, and we are excited to collaborate with them to develop new business models, using AWS capabilities, that will help companies around the world operate with greater confidence. AWS will help AXA support its business clients, creating secure, compliant new services and capabilities fueled by advanced technologies like generative AI.”
She added: “Amazon’s experience in building, operating, and scaling marketplaces will also help AXA tap into innovation from companies beyond the financial services industry, offering more ways to plan for uncertainty.”
