AXIS names head of new insurtech unit

Bermuda-based re/insurer AXIS Capital Holdings has launched a new unit under a former Swiss Re hire to accelerate technological innovations and insurtech partnerships at the company.

Zach Powell has been named the head of AXIS Digital Ventures, reporting to group chief underwriting officer Eric Gesick, who also heads the company’s global underwriting and analytics office (GUA).

Powell previously served as director of corporate development at AXIS where he worked on sourcing, evaluating and executing acquisitions and strategic investments. Prior to AXIS, he worked at Swiss Re in the principal investments group.

AXIS Digital Ventures will lead enterprise-wide efforts to partner with entrepreneurial companies focused on data and analytics with re/insurance applications, new product opportunities including emerging risks, and new distribution and re/insurance business models.

The launch of AXIS Digital Ventures follows the company’s announcement earlier this year that it is strengthening its operating model to become more agile and better positioned to leverage change to its advantage, including enhancing its ability to utilize digital technologies and data and analytics.

“With the launch of AXIS Digital Ventures, we are accelerating our efforts to leverage digital technologies and Insurtech more broadly to drive innovation, increase efficiency, enhance profitability and identify new products and solutions that will deliver more value to our clients and partners in distribution,” said AXIS Capital CEO Albert Benchimol.

“Since our inception, AXIS has been focused on delivering insights that enhance the underwriting and servicing of re/insurance. With AXIS Digital Ventures, we are building on this by leveraging the powerful tools and data available today to deliver deeper insights and provide our services in the way our diverse customer base wants them, while delivering on our promise to pay as we always have.”

If you enjoyed this story and have an interest in Insurtech, join us at Intelligent InsurTECH Europe 2018, the only insurtech event with dedicated streams for CXOs, Data/Analytics, and Claims. Find out more here.

More of today's news

Canada large property claims drive CNA international loss

California wildfires set to impact insurers in Q3

ARAG appoints Bristol CII president to key underwriting role

Don't miss our insurtech email newsletter - sign up today