AXA launches new entity to accelerate innovation

French insurer AXA Group has unveiled a new entity, AXA Next, dedicated to build new services and business models beyond insurance. Each year, it will invest €200 million in its innovation vehicle.

Through the new entity AXA aims to speed up the pace of innovation, and to "be more than a payer of claims". The company said its new structure will allow it to benefit from a dedicated organisation and resources as well as new ways of looking at business developments.

"In a world impacted by major technological and societal disruptions, the expectations around protection are increasing dramatically. I am convinced that AXA Next and their great innovations position AXA to meet the needs of our customers, and become a close partner in their lives," said Thomas Buberl, chief executive of AXA.

Guillaume Borie, CEO of AXA Next and group chief innovation officer, commented: "Insurance will remain a core part of our proposal, but we will go beyond insurance by bringing new services and offer a more comprehensive answer to the evolving needs of our customers."

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