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AXA XL’s North America Environmental insurance business has launched a tailored Environmental Ecosystem to help its clients adopt new technology solutions to proactively mitigate business risks and prevent losses. The new Environmental Ecosystem follows the success of AXA XL’s Construction Ecosystem, which launched in March 2020 and which won Celent’s Model Insurer Award in 2021.
A proactive approach to risk mitigation is nothing new for AXA XL, which during the last 35 years has helped clients manage environmental liabilities through risk transfer through pollution insurance, loss prevention measures facilitated by the insurer’s risk consultants, and resolution of environmental incidents through a dedicated AXA XL environmental claims team, notes Mary Ann Susavidge, Chief Underwriting Officer, Environmental, AXA XL. “Now, new risk-reducing technologies provide an added boost to our offerings and our clients’ environmental risk management efforts,” Susavidge says.
AXA XL Environmental’s new Environmental Ecosystem takes risk mitigation to a new level facilitated by modern technology. As with AXA XL’s Construction Ecosystem and its curated technology specifically for construction contractors, AXA XL’s Environmental insurance team evaluated technology solutions specifically for their customers.
“New tech solutions available today are proving effective in helping our clients monitor their operations, enhance their performance and productivity, and reduce risks,” comments Gregg Shields, VP, Risk Consulting, Environmental, AXA XL. “For example, clients with commercial fleets like recyclers, environmental contractors, and or hazmat haulers are implementing telematic solutions to improve driver safety and provide information that can help resolve commercial auto claims.
The new Ecosystem introduces the insurers technology partners with preferred client pricing through concierge tech advisory services. Technology partners in the Environmental Ecosystem are focused on contemporary technologies useful for building proactive risk solutions, such as the following, according to AXA XL:
- Fleet telematics
- Data analytics
- IoT sensors
- Imagery and robotics
- Enterprise software
- On-line training
- Contract support
AXA XL characterizes these capabilities as representing an initial technology areas of focus, that will expand as AXA XL continues to engage customers and explore how the Environmental Ecosystem can enhance their operations and risk management programs with further capabilities.
“To support great adoption of technology, by building the Ecosystem we aim to take some of the time-consuming legwork out the process,” adds Susavidge. “With so many new technologies available today, through our ecosystem, and its tech library, we are investigating tech solutions, negotiating pricing, and sharing lessons learned to help clients access technologies that have already proven successful with similar business classes.”