In the final year of its current five-year plan, AXA has set new growth targets for 2020, and shows no signs of slowing as it strives to become the leading digital and multi-access insurer. In the past year, AXA has stood out in its traditional, and typically conservative, financial services and insurance sectors by forming new strategic relationships with enviable partners and harnessing new tools to reach audiences.
These efforts range from working with Google’s Niantic labs to “integrate the global brand into Ingress, the interactive ‘real world’ mobile game,” to jointly creating first-of-its-kind ridesharing insurance products with rising rideshare platform BlaBlacar, while launching AXA Drive on IOS and Android. AXA clearly shows that it understands that attracting new customers—especially millennials—requires a fresh and nontraditional approach, an insight that will advance its goal of attaining 100 million clients by 2030.
There is no question that AXA is serious about leading in its category—In February 2015, it launched AXA Strategic Ventures, a EUR €200 million venture capital fund dedicated to investing in budding strategic innovations in the insurance, asset management, financial technology, and healthcare service industries. This initiative, in connection with AXA Labs and data innovation centers, has proven to be instrumental in AXA’s cultural transformation and key to cementing its position as the digital leader in insurance. Its newest strategic venture hub and AXA Lab will be based in Asia, where customer acquisition is a key goal.
Despite all that AXA is doing to transform its business model, one thing remains constant: protection. The mission of everyone in the organization is to better protect people—and prevention is a key focus. AXA People Protectors, the Facebook community started in 2011, now boasts 1.7 million fans and their “likes” have helped plant trees, fight obesity, provide clean water, and protect children.
By partnering with out-of-category partners, seeking new and innovative ways to connect with its consumers, and focusing on growth in regions like Asia, AXA is effectively meeting its consumers where they are.