Property and casualty
AXA and risk prevention
Insurance expertise lies essentially in the ability of professional underwriters to assess, mutualise or transfer individual or business risks. The logical conclusion to managing risks for an insurance company has been to put in place the means to assess and alleviate problems as early as possible. Prevention activities help the insurer and the insured - be it an individual or a large corporation - to avoid accidents and to facilitate the reparation of those accidents. AXA has developed a close working relationship with clients both before and after incidents. The Group uses its risk management skills not only to establish premiums but also to reduce risk - human and natural.
This risk prevention principle also applies to "emerging risks", although their assessment by our "Risk Management" teams is a complex issue due to a lack of statistical data available. These emerging risks include a number of major social and environmental risks linked to sustainable development issues, such as climate change or health risks.
This concerns all of the Group's business lines. On property and casualty, it can be seen among other things in risk prevention services, as well as in the development of new products based on a responsible underwriting policy, aimed at preventing the corresponding risks and reducing their impacts. For instance, this involves developing environmental and security audits for our industrial clients, or even offering specific healthcare or road safety services for individual clients.
The challenge is to correctly underwrite risks, encouraging activities that are compatible with sustainable development, such as linking premiums to responsible behavior, thus making it possible to reduce exposure to risks.
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How is AXA rising to this challenge to offer products and services with social and environmental value added?