The document discusses AXA Insurance's Insurance-as-a-Service digital platform. The platform aims to deliver personalized insurance protection and services seamlessly integrated into partners' applications and customer journeys. It uses microservices and APIs to enable flexible integration of insurance products and services into various distribution channels like agents, B2C, and B2B partnerships. Examples provided show how the platform has integrated insurance into applications for travel, car sales, and property rental through its API capabilities.

1. 1
AXA Insurance Pte Ltd
Insurance-as-a-Service
Digital Platform
14 June 2018
Application for The Digital Insurer’s Asian Insurance Innovation
Award

2. 2
Why Insurance-as-a-Service?
• Singapore is a small market
with a population of 5.6M
• High concentration of insurers
• Low digital insurance maturity
and market adoption
• Intermediated market via
traditional channels e.g.
agents and brokers
• Population with one of the
highest adoption of digital
• Strong push from the
government and regulators for
innovation and adoption of
digital in Financial Services
• Ageing population of agents
• Direct models and companies
new to the market
• Insurance industry (products &
services) needs to embrace
technology to succeed
• Cost of developing any
ecommerce asset vs. opportunity
for monetisation
• Emergence of ecosystem
distribution models, platform and
API economy
• Insurance needs to be transparent
and at the same time embedded
as a service into the customer
journey
SG Market
Conditions
Market
Opportunities
Insurance-as-a-
Service platform

3. 3
Insurance-as-a-Service – What it is about
Insurance
Product
Technology
platform
Business
model
Flexibility and
Scale
Technology enables
feasible delivery of
products and services
Business
model
Driving adoption and
commercial success,
leveraging ecosystem
distribution and
intimate access to the
customer
The core of Insurance-as-
a-Service concept
Insurance
Enabled, shaped
and powered by
technology

4. 4
The aim of the Insurance-as-a-Service platform is to deliver:
• Personalised insurance protection and services at the right moment and context of the customer journey
• Any product independent from the product category and business model – e.g. traditional vs. pay-per-use products
• Easy and frictionless integration directly in the context of partner-customer interaction
• Business scalability independent from distribution model – Agents, B2C, B2B and B2B2C
Travel
Trip planned gateway
Airline booking system
Motor
Car dealership POS
Option to buy insurance with the car
Insurance-as-a-Service – What it is about
Home
Property listings website
Property agent provides the insurance

5. 5
Insurance-as-a-Service Growth through Interconnected Value Chain
Technology Platform
Business
Model
Insurance Products
and Services
Distribution
Model
UX and CX
Platform is product agnostic and
allows scalability
Rich set of APIs
enabling product
distribution, customer
service, claims and
more
Deliver insurance
protection in partners’
apps with seamless
and native user
experience

6. 6
Insurance-as-a-Service (IaaS) Platform - Summary
Platform and back-end Integration
Commerce
Components
Marketing
Components
Insurance-as-a-service
Platform
API Gateway
Partners
Any AXA digital
asset
Any other
distribution
channels
AXA local
entity
back-end
Servicing
Components
Enabling 60% of AXA SG’s P&C retail new businesses in 2018
Enabled 10 new partnerships in 10+ countries in the past 12
months
Launched $30m B2B & B2C partnerships in under 10 weeks
Used by ~1000 agents to digitalise their business
In today’s world, speed and agility are of the essence. We need to be able
to design and launch new products and services rapidly and make it easy
for our customers and our partners to interact with us. New business
models and modes of distribution also require high level of integration and
data exchange.
That is what we had in mind when we designed the Insurance-as-a-Service
platform. It was built based on real and concrete business applications
with the aim to support our vision of making insurance products and
services easy to integrate (and consume) directly in the partner and
customer context, at the same time providing a seamless experience at
scale.
The open Insurance-as-a-Service (IaaS) platform allows the configuration
of existing modules (Commerce, Servicing & Marketing) to execute end-to-
end transactions (e.g. purchase of new product, lead generation, Customer
Service Enquiry, etc.) and synchronise end results with a back-end of
choice.
Implement
your own
insurance
product and
services
AXA local
entity
back-end
Insurance
Company
back-end
Insurance
Company
back-end
Integration with backend (API, Robotic Process
Automation…)

7. 7
Leveraging on Microservices
Lead
Quote Order
PaymentIssuance
Case
Claim
OCR
Documents Reporting
Enquiry
Endorse-
ment
Campaign
Automation
Referral
Behavioural
Analytics
Predictive
Analytics
Opportunity
Cover
Note
Commerce
Components
Servicing
Components
Marketing
Components
Campaign
&
Promotion
Data
Enrichment
A/B
Testing
Communic-
ation
NLP

8. 8
Example: Insurance-as-a-Service – Omni-channel API Integration
True Omni-channel
experience via API
Integrate with any channels using
the APIs and available connectors
for voice, social media or
messaging platforms enabling
transactional functionalities e.g.
purchase or claims submission.
Existing implementation covers:
Amazon Alexa, FB Messenger,
WhatsApp and Google Home

9. 9
Example: Insurance-as-a-Service – API Integration for B2B2C
Mobile App API
Integration
Business partners use APIs to
integrate AXA products and
services directly into their
ecosystem (e.g. an App) in order
to remove friction and deliver value
at the right moment of the
customer journey
e.g. SATS Ready To Travel App

10. 10
Example: Insurance-as-a-Service – API Integration for B2B
Integrating Car insurance
with partner Sales tool
via API
Our partner, PML (exclusive BMW
dealer in Singapore) integrated
insurance product into their sales
tool and CRM in order to automate
and integrate car insurance:
• Quotation
• Cover note
• UW referral
• Policy issuance
• Finance reconciliation
with their own sales process in a
frictionless manner.

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Example: Insurance-as-a-Service – API Integration for B2B2C
Integrating Home
Insurance into the home
purchase / rental process
15k PropertyGuru Agents will be
able to share unique ecommerce
and blog article links allowing
customers to purchase AXA Home
insurance, while attributing all the
sales and rewards to individual
property agents with Ad credits.

12. 12
Thank you