AXA Partners and insurance software provider Ancileo have renewed their partnership, in a bid to harness the various opportunities in the post-COVID travel industry.
The deal, which was initially signed three years ago, has allowed digital distribution in 19 countries across Asia, Europe and the Middle East with 18 distribution partners.
Under the renewed agreement, Ancileo will continue to power AXA Partners’ end-to-end embedded insurance digital solutions for its distribution partners. It will also seek to expand its roster of partners and products to meet the e-commerce needs of industry players. The partnership will focus on digital platforms and ecosystem distribution, meeting the growing demand for personalisation, agility and speed to market, the companies said in a statement.
According to Ancileo, its deep personalisation engine does real-time tests of hundreds of combinations of product benefits, pricing and displays these depending on the targeted customer segment.
“Appetite for travel post-COVID is widespread, with greater importance attached to insurance,” said Xavier Blanchard, AXA Partners Travel Insurance CEO and global head of travel at AXA Partners. “To support this accelerated growth, cutting edge e-commerce capabilities are a key element, particularly to optional models that present a greater technical challenge for e-commerce. Our partnership with Ancileo will highly contribute to meeting these challenges, better addressing partners’ need and strengthening our positioning as a leading insurer.”
Olivier Michel, founder and CEO of Ancileo, added: “Three years ago, when most of the global insurers were still trying to compete with the insurtech players, the teams at AXA Partners had already understood the benefits of a strong partnership between insurtech companies and insurers. Building on this successful collaboration, we now aim to accelerate the potential of personalised insurance distribution through digital ecosystems.”
