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AXIS Capital Holdings Limited has launched AXIS Digital Ventures, a unit that will partner with various insurtech initiatives focusing on data and analytics with high-value re/insurance applications.
The new unit will participate in projects with the aim of developing new products to address emerging risks, and new distribution and re/insurance business models. It will also be in charge of integrating new technologies into AXIS’s established businesses.
According to a statement by the company, the launch of AXIS Digital Ventures comes after an announcement earlier this year regarding strengthening its operating model to become more agile and better-positioned to leverage change to its advantage, including enhancing its ability to utilise digital technologies and data and analytics.
“With the launch of AXIS Digital Ventures, we are accelerating our efforts to leverage digital technologies and insurtech more broadly to drive innovation, increase efficiency, enhance profitability and identify new products and solutions that will deliver more value to our clients and partners in distribution,” said Albert Benchimol, president and CEO of AXIS Capital.
“Since our inception, AXIS has been focused on delivering insights that enhance the underwriting and servicing of re/insurance. With AXIS Digital Ventures, we are building on this by leveraging the powerful tools and data available today to deliver deeper insights and provide our services in the way our diverse customer base wants them, while delivering on our promise to pay as we always have.”
Zach Powell has been named head of AXIS Digital Ventures, which is under the Global Underwriting and Analytics office (GUA). He will report to Eric Gesick, group chief underwriting officer and head of GUA at AXIS.
Powell previously served as a director of corporate development at AXIS where he worked on sourcing, evaluating, and executing acquisitions and strategic investments. Prior to AXIS, he worked at Swiss Re in the principal investments group.
