“As travel continues to grow, travel insurance will remain a very dynamic market, especially in emerged or emerging countries such as Central Europe, Asia, South America and now Africa”
With a history stretching back to the 19th Century, AXA has been helping people to protect their possessions, themselves and their families, and look after their money, for nearly 300 years. After a succession of mergers‚ acquisitions and brand changes‚ the name AXA was first introduced in 1985.
Today AXA is present in 64 countries and its 166,000 employees and distributors are committed to serving 103 million clients. AXA’s areas of expertise are applied to a range of products and services that are adapted to the needs of each and every client across three major business lines: property-casualty insurance, life & savings, and asset management.
Location of HQ: AXA Travel Insurance, The Quadrangle, 106-116 Station Road, Redhill, Surrey, RH1 1PR, UK
Number of countries in which the company has offices: Including AXA Travel Insurance, AXA Assistance and AXA GI, there are more than 60 countries worldwide where AXA is able to manage travel insurance.
What are your main distribution channels for travel insurance?
AXA provides travel insurance through:
B2B channels (offline travel agencies, brokers, credit cards issuers, credit card networks, banks, agents);
B2B2C channels (online travel agencies, airlines, online brokers, hotel portals and hotel websites, car rental websites or portals, aggregators, credit card retail sites and online bancassurance);
B2C channels (direct to consumers).
Do you have any affinity deals/white-labelling agreements in place?
AXA has many affinity deals with financial institutions, some of these include credit cards issuers, credit cards networks, banks, fintech and digital wallets, as well as travel organisations such as online travel agencies, airlines, hotels, car rental and cruise companies. We are also the global provider for partners such as Amex, Visa, Mastercard, Air Caraïbes, Corsair, Luxair, Lufthansa, AirPlus, HSBC, Barclays and Star Cruises.
Who are your assistance partners?
AXA provides travel insurance through its local AXA General Insurance entities as well as AXA
Travel Insurance for affinity and partnerships everywhere in the world. AXA is able to provide
global assistance, security and concierge services thanks to AXA Assistance/Asia Assistance. Through its subsidiaries, we are able to provide all products and services included in travel insurance products.
What are your latest travel insurance products?
The latest products we are offering include travel delay, nat-cat and terrorism covers, hotel and
self-catering accommodation covers, car rental covers and specific services to car rental
companies. We are developing and offering many innovations, including full online claim
capabilities, revenue optimisation for airlines and OTAs, digital contents for travellers and
affinity partners through dedicated websites, as well as APIs. All our products and services are
available through API!
In which countries/regions do you sell the most travel insurance policies?
Our portfolio is well balanced between all regions from Asia to Gulf and Africa, Europe and America.
Do you have any forthcoming new products/deals on the horizon?
Our focus in 2017 and 2018 will be to increase our distribution through affinity partners,
including financial institutions and travel organisations.
Do you underwrite your travel policies in-house?
We underwrite all our products and services in-house.
Do you manage your own claims, or do you work with a claims management company?
We manage claims either locally in each country or globally through regional multilingual hubs
(in order to service our global partners in a consistent way with state-of-the-art customer experience).
Personal point of view
From Erick Morazin, global sales director and chief sales officer Asia at AXA Assistance and AXA Travel Insurance
What is your experience in the travel insurance industry, and what do you enjoy most about
your current role?
I have more than 30 years of experience in the travel industry and more than 10 years in travel insurance and assistance. I am supported by a team of global experts specialising in travel insurance, assistance, digital capabilities as well as experts in financial institutions and travel organisations. We manage a community of over 50 experts located regionally or locally in the AXA or AXA Assistance/Asia Assistance entities to ensure close understanding of local needs and proximity in the account management of our partners.
What are your current key objectives?
It is to develop more products and services, with our affinity partners, that meet the
requirements of their customers, specifically looking at digital channels. That will help to
provide a better service to our partners as well as service to their customers before, during and
after their trip.
What are some of the biggest challenges currently facing global travel insurers, and how are
these being met?
Travellers are very agile in using new technologies to book their trips, book their travel
insurance and interact with AXA for insurance claims or assistance services. We need to ensure
we remain agile and provide a great digital experience from booking right through to servicing.
We need to provide this globally and in all main languages. Additionally, travellers are expecting
new services to cover new needs (extreme sports, holidays in very exotic areas and remote
countries) or new trends (such as terrorism). Our travel insurance products are evolving
constantly to cover those needs.
How do you see travel insurance products and services developing in the coming years?
As travel continues to grow, travel insurance will remain a very dynamic market, especially in
emerged or emerging countries such as Central Europe, Asia, South America and now Africa.
The market is evolving from a historical B2B model to B2B2C and B2C. In this retail
environment, regulation needs to be followed strictly and a global insurance footprint is
necessary to cope with this evolution. The market is as well moving from offline to
online/mobile. AXA, thanks to its major investment in the digital space associated with its
fantastic local insurance presence and in-house assistance and concierge capabilities, has all the
ingredients to remain a leading travel insurance provider globally.