AXA XL launches innovation incubator for complex risks

Re/insurer AXA XL has launched a six-week risk innovation programme, called Cube, to enable risk managers to work with the firm to develop solutions for the most complex risks.

The programme, which is available to clients globally, is made up of a series of workshops where the reinsurer and risk managers can experiment and test new solutions. AXA XL said that ultimately this will result in a prototype and a supporting business case.

During the incubator programme clients have access to a team of innovation, digital and analytics experts, risk specialists and, where relevant, to some of the reinsurer’s technology partners.

Philippe Gouraud, global head of strategic distribution at AXA XL, explained: “Cube supports our goal to go beyond traditional insurance to become a comprehensive partner to our clients. The programme’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.”

The firm’s digital leader Hélène Stanway said: “Evolving technologies and new ways of harnessing data are transforming the way companies work, and the way we are able to gain risk insights to support them. Over recent years, we have successfully completed and scaled a number of innovative proofs of concept. 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.”