AXA Commercial Lines wins accolades from Celent
March 4, 2013
by Brian Turner
Bearing in mind how easy it is to obtain online quotes for all types of insurance, there is absolutely
no reason to renew a policy without doing an online check of the prices from the competition. Last
year I bought my home and contents cover after getting lots of quotes from an insurance price
comparison web site. A few days ago I got a phone call from that insurance company telling me that
the renewal was due and that the cost had only risen by a couple of pounds. When I said that I was
going to check prices from their competitors online before renewing, the guy on the phone managed
to find a quote about 20% cheaper than his original offer. Nevertheless, I visited my favourite
insurance price comparison site and managed to obtain precisely the same cover for another 20%
less than his cheapest quote. I've said it so many times and I'll say it again...NEVER Never never
renew any insurance before checking other insurers online. All insurance companies come up with
their lowest prices to first-time customers, so take advantage and switch to a new company
whenever you can get a better price for equivalent or better cover. Unless you've had a very good
experience with your current insurance company then don't fret over showing disloyalty to them, I
guarantee that they won't show any loyalty to you if you're in the unfortunate position of having to
make a claim!. The following link has information on Bike Insurance Comparison.
Story link: AXA Commercial Lines wins accolades from Celent
Celent, an international financial research and consulting firm, has named AXA as a Model Insurer
2013, one of 18 insurers from across the globe to receive the prestigious award. Celent bestows
awards to those organisations that can best demonstrate the use year's best technology initiatives
through the use of innovation, best practices and measurable business results.
AXA was also shortlisted for the Innovation through Technology award by the Institute of Risk
Management at its annual Global Risk Awards. The international panel of judges recognised AXA for
its best practice of risk management through use of technology.
The recognitions were given for the use of the Mapflow risk assessment software as part of the
underwriting process. The software enables the underwriting team to use mapping to accurately
assess flood, subsidence and terrorism risks for individual buildings, rather than simple postcode
underwriting, the current industry standard approach.
David Williams, Director of Underwriting at AXA Commercial Lines and Personal Intermediary
comments: "We're delighted to have received these accolades in recognition of our innovative
approach to underwriting, not just in the UK, but on a global scale. The Model Insurer award is
testament to the hard work and dedication of all members of the underwriting team, not only for
integrating the technology into our processes, but for demonstrating the impact on our overall
performance, signifying our position as market leaders in terms of our underwriting capabilities."