The Organization’s Process of Formulating its Technology Strategy and

Technology Plan
During the preceding decades, AXA's market share had significantly expanded.
The decade of the 1980s saw the coming together of a number of French insurance
companies of moderate size to become the corporation. AXA's current CEO, Claude
Bébéar, has always had the goal of making the company the first truly worldwide
insurance brand. During the 1990s, the company engaged in several acquisitions,
purchasing businesses not only in the United States but also in Europe, Africa, and
Asia. The business press lauded AXA for making astute business decisions and
negotiating advantageous deals. Through the utilization of its robust balance sheet,
technological skills, and capabilities in product creation, the company was able to
successfully turn around the brands that it had acquired and ensure their continued
success. Over the course of time, AXA also rebranded the companies under the AXA
umbrella, gradually becoming a worldwide brand in the process. AXA continues to
generate great returns even after Henri de Castries took over as CEO in the year 2000
and despite the fact that the company was experiencing economic headwinds.
A five-year strategic plan to expand the business was presented by the
corporation in 2010, and it was called Ambition AXA. The strategy called for the sale of
businesses that were expanding at a slower rate in existing areas, investments in newer
markets, and a reduction in the overall cost of operations for the corporation. A
substantial number of acquisitions and business deals were conducted by AXA in the
regions of Asia, Africa, and Latin America as part of the plan. The company developed
into a significant presence in the Chinese and Indian markets, rising to become the top
foreign insurance provider in China. By the year 2014, AXA had more than 100 million
customers, 157,000 employees spread across the world, a market capitalization of 50
billion euros, and over one trillion euros in assets under management. According to
Interbrand, AXA is not only the most well-known brand name in the insurance industry
worldwide, but it is also the most well-known "green" insurance brand.
AXA's leadership has retained a commitment to corporate social responsibility
throughout the course of the company's expansion, and a significant number of AXA's
workforce held the view that the organization's values were ingrained in its very
structure. Keeping this fact in mind, the corporation develops its technology strategy
and plans by making use of the concept of corporate responsibility. In fact, during the
1980s, Bébéar established a variety of organizations with the purpose of bringing
together influential businesspeople in order to address social issues and participate in
charitable activities. It was in the year 1990 that AXA came up with the concept of AXA
Atout Coeur, which translates to "Hearts in Action," with the intention of encouraging
and supporting employee participation in community service. In the year 2001, the
company established the Group's first "sustainable development" function. However, the
corporation did not come up with an official strategy for corporate responsibility until the
year 2008. A global corporate responsibility action plan was developed by AXA after the
company conducted an internal assessment which concluded that the corporation
should prioritize the pursuit of corporate responsibility as a key strategic area. A
proprietary corporate responsibility metric was developed for AXA by the corporate
responsibility team under the guidance of Alice Steenland. This metric was then
customized for each of the company's primary operating operations. This metric
provided a framework for individual units to create their own corporate responsibility
goals, and it enabled the leadership of AXA to evaluate the work that the firm was doing
with regard to its corporate responsibility obligations. The work done by the corporate
responsibility team assisted AXA in becoming more visible within the greater corporate
responsibility community. This effort also contributed to the success of the company on
rating metrics developed by a variety of groups located outside the company.
The development of new measurements was a challenging task, but it was
necessary to make progress toward establishing CR inside AXA. The company's long-
term goal was to produce an "integrated report" that would define the Group's next
strategy for the time horizon of 2020. This "integrated report" would be measured by a
set of metrics that reflected in an integrated way not only the financial value created by
the company, but also the social and environmental value the company created.
In addition, the corporation used a variety of methods when coming up with its
objectives and strategies about its technological endeavors. Gary Ho, who serves as
the Chief Technology Officer of AXA Hong Kong and Macau, has more than 20 years of
experience in the field of digital technology. He has a strong technical background, with
a primary emphasis on leading enterprise solutions architecture, and he is currently
serving as the Chief Lead Architect for the organization. He has worked in the insurance
industry, where he has developed IT strategies and led transformation initiatives worth
several millions of dollars. Because of these efforts, he now has a better understanding
of how the business world and the technological world may work together to have
beneficial impacts on both fields. Changes in corporate architecture are necessary to
accompany digital transformation. His varied experiences have equipped him to deal
with the unpredictability and difficulty of future situations. Because AXA places a heavy
focus on human values, he is reminded of his days spent working in technical
consulting, when he learned that his team needed to put themselves in the position of
the client in order to come up with ideas that would be meaningful to them.
As a worldwide organization, every country contains a very competitive insurance
market, with many firms striving to make their imprint in the area. As a result, the
insurance industry is extremely competitive. AXA addresses this issue by delivering
services that are superior to those provided by competitors through the use of a digital
system that is tailored to meet their needs. What kind of market conditions must exist for
an information technology system to be successfully developed so that it can back up
the extensive range of service and product offerings that AXA provides? In a nutshell,
AXA seeks to achieve an architecture that is gradually more seamless, and more
flexible in answering to the demands of the market and synchronization across many
departments.
In an age where information is rapidly developing at an exponential rate, AXA is
capitalizing on the growing significance of data. Without a shadow of a doubt, data has
evolved into an asset that is more valuable than ever in the firm because it has served
as the primary foundation for the company's developers to continue expanding. From a
scientific point of view, having access to massive data sets provides businesses with
the chance to better understand their customers, which in turn allows them to provide
superior service that results in increased levels of customer satisfaction.
There may be a connection between the collection of data, the use of scientific
methods, and the level of technical sophistication. For instance, the company could
offer customers personalized recommendations that could explicitly fulfill a particular
individual user's needs, which would ultimately increase customer conversion rates and
drive revenue growth. These recommendations could be derived from the existing user
insights that AXA already possesses. This has been the primary method that the
corporation has relied on in order to concoct its various strategies and plans.
Second, even if there is a massive amount of data that is stored in a variety of
data warehouses, not all of that data is pristine, and not all of that data is accurate. The
organization might consider some of the data to be unreliable or noisy, which might
have an effect on the accuracy of the data model as well as the results of the final
prediction. As it turns out, they may end up spending significantly more time and effort
than they had anticipated on data cleansing and pre-processing. They have done this
by preserving a strong Data Governance Framework as a defense mechanism (DGF).
Within the confines of this structure, they have formulated beneficial guidelines and
rules, such as regularly doing data cleansing and data quality optimization. The
organization is delighted to state that, with a modernized and powerful data
infrastructure, they have broken down the silo that previously existed between data and
larger areas of business, which will allow our organisation to move forward.
In addition, AXA is in the process of updating all of its legacy applications to
ensure that they continue to meet their sustainability, efficiency, and digitization
objectives. The organization is of the opinion that the cultivation of a cloud-first basis
would elevate the overall technological support to business, which has the potential to
give a seamless omnichannel experience to AXA customers and colleagues, hence
increasing business value. In order to get the most out of their data, AXA has deployed
Digital Backbone, which provides the insurance company's financial planners with the
ability to conduct 360-degree customer analyses. It gives them the ability to supply
timely data to AXA consumers to assist the selling strategy, functioning as the facilitator
to continuously engage its clients. In addition to this, it can conduct other analyses of
client behaviors to support business vision and strategy simultaneously. The IT team is,
without a doubt, the backbone of the information technology systems. The challenge
that arises next is how AXA can construct a powerful IT staff that is able to support the
company's technological strategy.

Description of the Organization’s Technology Strategy and Technology Plan

Customers expect AXA to be more than "simply an insurance provider" and a
true partner in their business endeavors; they want more from the company than "just
insurance." They are aware that the globe and the threat landscape are shifting at a rate
that has never been seen before, which necessitates modifications to the method in
which they conduct business and safeguard the things that are important to them. They
are able to give solutions to this difficulty thanks to data and digital technology. As a
result of this, the goal of both AXA Group and AXA XL is to provide new services that
are complementary to traditional insurance and improve the level of protection provided
to their consumers. They are shifting their own conception of what an insurer is from a
payer to a partner, and they are doing this together with their customers at every step of
the process. The Driving Progress 2023 strategy places a primary emphasis on digital
innovation. If they did not have it, there would be no way for them to carry out the
strategic plan that they had devised.
The company plans to expand and grow the services it provides to its P&C
Commercial clients with the help of the Digital Commercial Platform (DCP). At the same
time, the company will work to simplify the experience it provides to its customers,
increase the level of protection it provides as an insurer, and contribute to
environmental sustainability. The goal of the company is to develop an innovative global
solution that provides value to its commercial lines’ customers beyond protection. This
will be accomplished by providing risk assessments, as well as prevention advice and
services, in addition to the former. This is because the company understands that
traditional insurance is no longer the only answer to their customer's ever-changing
risks.
Utilizing real-time data and analytics gathered through satellites, drones, and
sensors in conjunction with the group's expertise in risk-prevention services as well as
underwriting and claims capabilities, the digital commerce platform intends to build an
ecosystem of new services to address the rapidly changing protection needs of
corporate clients. This will be accomplished by combining the platform's resources with
those of the group.
The platform will launch with two different programs to choose from. AXA Climate
is a data-driven open ecosystem that offers a wide variety of sustainability services to
large business clients in addition to public and private entities. One of these services is
called Climate School, and it is an online learning platform that company clients can use
to upskill their personnel and get their companies ready for a transition to a more
sustainable model. After only one year of operation, Climate School has already been
utilized to train more than five million employees at more than 40 significant
corporations that have enrolled as clients. A network that provides risk information and
risk management skills, AXA Smart Services was developed by AXA. It will provide new
services to serve commercial clients, such as providing them with the chance to monitor
all of their fixed and in-transit assets in real time while also allowing them access to
individualized preventative and value-added services.
In addition, the DCP is composed of two distinct components. The first is AXA
Smart Services, which is an open ecosystem of services produced by AXA or partners
and dedicated to both AXA's commercial line customers and AXA's internal users like
underwriters, pricing teams, and so on. These users include AXA's external clients as
well as AXA's internal users. As it was known, the company has placed a primary
emphasis on the development of smart buildings. It's possible that with time,
commercial properties and assets will become less effective, which will expose them to
threats that were previously hidden. It is possible that these dangers will be exacerbated
during times when a structure is either completely vacant or only half occupied.
They did this by developing a service known as Digital Risk Engineer, which
makes use of a technology known as the Internet of Things (IoT) to remotely monitor
the state of health of assets and buildings located all over the world. Real-time data
from linked building systems such as electricity, water, heating, ventilation, and air
conditioning are collected by an easy-to-install device that is incorporated into a building
in a way that is completely seamless (HVAC). Through an online dashboard, both their
customers and AXA have access to the data as well as the insights. The centralized
dashboard is fully customizable and provides users with an overarching picture of all
building sites and assets. Additionally, it notifies customers of any potential issues and
may compare the operational efficiency of various locations.
Additionally, the organization is working on broadening its use of location
intelligence in order to improve its understanding of the assets they are protecting and
the dangers to which those assets are exposed. Because of this, they will be able to
work together with their customers to better understand the dangers that they face in
real-time.
The second component of the DCP is called AXA Climate, and it is an open
ecosystem that is founded on science, data, and technology. This ecosystem will offer a
variety of services to its corporate and institutional clients, such as training, consulting,
insurance, and financing, and it is the second component of the DCP. The objective is
to provide traditional services to clients in order to assist them in improving their
sustainability and also to develop innovative solutions in order to assist in the protection
of businesses, crops, and natural ecosystems through the utilization of geographic
information systems, scientific, and satellite-based data.
The innovation strategy of the corporation has reached a crossroads at this
moment. They would like to incorporate a thorough, data-driven ecosystem of services
across the company's key markets in order to ensure that their main strategic priorities
are met. This comes after they sped up the process of developing their company's
expertise and culture of innovation throughout the entire organization. This tactic is most
effectively realized through the utilization of the digital commerce platform. This marks a
new stage in the company's journey toward innovation, which has as its primary
objective the ongoing enhancement of the products and services it provides to its
customers.

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declares-plan-for-new-digital-platform-409767.aspx

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