AXA launches Shared Services Centre in Manila; creates up to 300 IT jobs
In View Summary
AXA has established a shared services centre in Asia as a part of its digital transformation journey. The centres will be based in Philippines and Malaysia.
The new shared service centers will become the IT hubs for AXA in Asia, and later Japan. The centres will also serve as central hubs of actuarial expertise and provide guidance to Axa’s Asia entities on improvements to processes and methodologies.
The objective of Ambition 2020 strategic plan is to accelerate our transformation and continue on our growth track in a challenging economic environment.
Marc Blottiere, AXA Asia Regional COO has said of the partnership: “Our vision is to enable business transformation and innovation by leveraging on technology in Asia. These shared service centers are a testament to our long-term commitment towards investing in the region.”
Benefits to Customers:
Convenient and Transparency
Benefits to the Insurer:
Improved customer engagement and retention
Lower operational costs
Informed decision making
The Digital Insurer's View
Technology and changing customer demands are creating a wider need for insurers to provide customized products and services. Companies are therefore exploring new actuarial models that are based on new data sets to facilitate dynamic pricing based on location and health data and flexible products. Insurers like AXA have started investing in building their actuarial capabilities before wearable technologies mature, this demonstrates Axa’s willingness to test unproven actuarial models which will stand to it in years to come.