AXA: New Strategic Plan to “Unlock the Future” 2024-2026

In this iPMI Global Insights article, iPMI report author and market analyst Ian Youngman, takes a look at news, that AXA has a new strategic plan “Unlock the Future” for 2024-2026.

• The new plan is focused on growing and strengthening AXA’s core businesses.
• Business is balanced between Commercial and Retail lines.
• The focus is on growing and strengthening core businesses, with rigorous execution.
• Aim at scaling organic growth, as well as technical and operational excellence across all businesses.
• Leveraging clear and proven initiatives across Employee Benefits and Individual Health.
• AXA is committed to bringing value to all stakeholders over the long term.
• Addressing growing demand for private healthcare solutions by leveraging high quality distribution.
• Accelerate growth in emerging markets.
• Develop solutions for underinsured populations in European markets.

Deep in the notes and presentations of the new strategy are interesting details on health insurance:

• 2023 numbers are 50% commercial and 50% retail.
• Commercial includes employee benefits.
• Retail includes life and health.
• Axa is the leading health insurer in Europe.
• Number 2 in France, UK and Ireland.
• Top 5 in all other European markets.
• Select leading position in Asia and International Markets.
• Number two in Hong Kong and Mexico.
• Leading player in Employee Benefits in France, UK, Belgium, Switzerland, Hong Kong.
• GWP 9 billion euros on individual health.
• GWP 7 billion euros on group health.
• GWP 4 billion euros on group protection.

International Private Medical Insurance (IPMI)

• Expanding footprint.
• New partnerships in Gulf and scaling in new Asian markets.
• Pioneering a fully digital proposition.
• Bringing digital payment solutions to international health.
• Increase share of agents selling Health +25% activation rate in tied agents.
• Expand Integrated Health solution.
• Delivering end-to-end healthcare in 7 countries to 1.6m patients.
• Accelerate medical centres in select countries.
• State of the art medical centres with up to 60 specialities.
• Seamless experience with online appointment booking, digital medical record.
• Focused strategy to accelerate growth across most profitable Health segments.

Major global trends driving demand on Individual Health

• Growing population, ageing demographics
  Issues to finance social security in mature markets
  Protection gap in emerging markets.
• Rise in chronic diseases and higher cost of treatments

About the Author

Ian Youngman is an independent writer and researcher specialising in insurance. He writes regularly for a variety of magazines, newsletters, and on-line services. He publishes a range of market reports, and undertakes research for companies. To read his latest report, International Health Insurance 2023, please click here, or visit the REPORTS section of iPMI Global.