AXA Hong Kong & Macau

Company background

AXA Hong Kong and Macau “AXA” is a member of the AXA Group, a leading global insurer, serving 1.5 million in Hong Kong, with a presence in 51 markets, and serving 93 million customers worldwide. AXA offers a wide range of life, health, property, casualty protection, wealth management, and retirement solutions.

The challenge

AXA wanted to increase its speed to market, sales volume, and customer experience, by launching new Domestic Helper Insurance products available for direct distribution on their website. Their existing systems did not allow for building new products quickly enough and making them available digitally, so they needed a tool to enable this, offering flexibility and integration capabilities to existing front-end and core system.

AXA also wanted to set the stage for future digital transformation, choosing a platform where they can scale to other product lines (health, life) and processes (policy admin, claims, etc).

The solution

AXA has adopted the CoverGo platform to build general insurance products at record speed and enable digital distribution (quote, bind, issue). AXA was able to build a Domestic Helper Insurance product with various plan options digitally without a single line of code, and the product is now available for distribution on the AXA website.

Customers can get a quote instantly and buy plans online from the website seamlessly. The CoverGo platform enabling end-to-end capabilities for all product lines also enables AXA to scale and further streamline and digitize its ecosystem.

Business impact

Product development: cut down up to 98% of development time building products on the CoverGo platform vs in their previous system, incurring major development and IT cost savings.

Sales: after the soft launch of the online distribution page of their website, and with no marketing efforts promoting the new product, AXA is issuing a remarkable number of policies per day, with above-average conversion rates.

Customer experience: major improvements with instant quotation and user-friendly purchasing flows

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