AXA has teamed up with AWS to spearhead the development of the AXA Digital Commercial Platform along with associated software services.
This collaboration aims to introduce a next-generation risk management solution that harnesses the power of both entities.
The partnership between AXA and AWS is designed to address the evolving needs of global risk management. By integrating industry, business, and environmental data with advanced geospatial analytics and generative AI technologies, the AXA DCP will provide clients worldwide with the tools necessary to monitor their assets and effectively navigate the myriad of complex and interconnected risks they face today, including natural disasters, supply chain disruptions, and cyber threats.
AXA stands as a titan in the insurance sector, offering a broad spectrum of services from commercial insurance to risk prevention. Its new venture into digital risk management through the AXA DCP reflects its commitment to innovation and client service. Meanwhile, AWS is renowned for its comprehensive analytics capabilities and cloud services, playing a crucial role in the technological underpinning of the DCP by offering a robust platform for the deployment of these advanced risk management tools.
In the upcoming two years, AXA plans to leverage AWS’s extensive analytics capabilities to roll out a suite of services for its existing clients, as well as for millions of AWS’s global clientele through the AWS Marketplace and the AWS Data Exchange. This initiative underscores both companies’ dedication to pioneering in their respective fields by providing sophisticated solutions to contemporary challenges.
The partnership also involves the use of Amazon Bedrock, a service that provides access to high-performance foundation models from leading AI companies. This collaboration will empower AXA to deliver real-time data and analytics to its corporate clients, enhancing its risk prevention services and the development of insurance products.
“AXA is a customer-focused business, and we are excited to collaborate with them to develop new business models, using AWS capabilities, that will help companies around the world operate with greater confidence. AWS will help AXA support its business clients, creating secure, compliant new services and capabilities fueled by advanced technologies like generative AI. Amazon’s experience in building, operating, and scaling marketplaces will also help AXA tap into innovation from companies beyond the financial services industry, offering more ways to plan for uncertainty,” Kathrin Renz, vice president of AWS Industries, said.
Scott Gunter, Chief Executive Officer of AXA XL, shared his perspective on the critical nature of building resilience in today’s world, highlighting the extensive challenges global clients face, such as extreme weather and cyber-attacks. Alexander Vollert, Group Chief Operating Officer, Chief Executive Officer of AXA Group Operations, emphasized the depth of experience AWS brings to the table, which is vital for providing world-class risk management capabilities to clients.
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