A 2018 global survey of 300 C-level insurance executives revealed that price, product and claims services are no longer differentiators. “They are table stakes. Competitive advantage lies in delivering expected levels of customer experience and improving the effectiveness of distribution channels,” according to Deloitte.
For global insurer AXA, the cloud is an important component of its strategy to remain competitive and relevant to its customers.
The AXA Move to the Cloud is a programme the insurer claims will enable it to provide that seamless digital experience for its customers.
Through “Move to the Cloud” AXA policyholders can now easily access their policies and communicate with AXA through an omni-channel process, such as talking over the phone and then switching to a live chat with a smooth transition.
One of the key challenges for any insurer introducing transformative change in their organisation is creating awareness and securing the buy-in of participating stakeholders in the organisation. For AXA this means educating the various AXA entities on what the programme will provide for these entities.
According to AXA, the cloud will enable it to deliver against its Payer to Partner and Simplification Strategies. Additional benefits of the cloud include: faster time to market, compliance agility, flexible work practices enablement, and higher availability and reliability of applications.
At the recently concluded Cloud Day conference in the Philippines, Myriam Moufakkir, Asian Markets chief operating officer (COO), commented that: “There is no way we can meet our AXA objectives without the cloud. Wherever your entities’ progress is, leave this room knowing how to accelerate your journey and to bring a couple of innovative ideas that you will take back to your [teams] and engage in this discussion.”
The Cloud Day conference gave AXA Asia employees the opportunity to understand how the cloud could benefit customers.
“Building cloud skills is extremely important,” said Ash Shah, AXA global program director of the Move to the Cloud program. “AXA believes the Philippines has the right young labour pool that can be trained to work and support these transformation programs. To back up our beliefs, we invested three days to train our resources on cloud-related topics: Cloud and DevOps. We will continue to leverage our local AXA Group Operations Shared Service Centre to support our Asian entities.”