AXA, a global insurance and asset management behemoth, and Amazon Web Services are setting the stage for a groundbreaking collaboration with the development of the AXA Digital Commercial Platform (DCP).
The partnership between AXA and AWS aims to craft the AXA DCP, a state-of-the-art risk management platform. This platform is envisioned to amalgamate industry, business, and environmental data, incorporating geospatial analytics and generative AI technologies. Such integration will empower clients worldwide to monitor their assets comprehensively and navigate the labyrinth of complex and interconnected risks, which include natural disasters, supply chain disruptions, and cyber threats.
As part of this collaboration, AXA plans to leverage AWS’s analytical prowess to roll out a multitude of services for its existing clientele and for the extensive AWS global customer base through the AWS Marketplace and AWS Data Exchange within the next two years.
The development of DCP will utilize Amazon Bedrock, enabling AXA to furnish corporate clients with real-time data and analytics. This includes access to extensive historical datasets, aiding in the identification and assessment of potential operational disruptions or impacts on reputation, safety, security, or financial standing. These insights will, in turn, enhance AXA’s risk prevention services, alongside its underwriting and claims expertise, facilitating more accurate predictions and risk mitigation in the creation of insurance products.
AXA chief executive officer Scott Gunter said, “Globally clients are grappling with extreme weather, cyber-attacks and other shocks and disruptions. We believe that building resilience is more essential than ever. That is why we are excited to be working with AWS, combining their tech capabilities with AXA’s expertise in commercial insurance to develop the next generation of risk management insights and services to help clients unlock their full potential.”
AWS vice president of AWS Industries Kathrin Renz said, “AXA is a customer-focused business, and we are excited to collaborate with them to develop new business models, using AWS capabilities, that will help companies around the world operate with greater confidence.
“AWS will help AXA support its business clients, creating secure, compliant new services and capabilities fueled by advanced technologies like generative AI. Amazon’s experience in building, operating, and scaling marketplaces will also help AXA tap into innovation from companies beyond the financial services industry, offering more ways to plan for uncertainty.”
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