AXIS Capital Holdings has announced the launch of AXIS Digital Ventures, a new unit that will lead enterprise-wide efforts to partner with entrepreneurial companies that focus on data and analytics with high-value reinsurance applications, new product opportunities, including emerging risk, and new distribution and reinsurance business models.
The launch follows AXIS Capital’s announcement earlier this year that it is revamping its operating model to become more agile, including enhancing its ability to use digital technology 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 distributions,” 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 reinsurance. 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.”
AXIS named Zach Powell head of AXIS Digital Ventures, which is part of the company’s global underwriting and analytics office. Powell reports to Eric Gesick, group chief underwriting officer.
“Zach will be a great ambassador for our new AXIS Digital Ventures unit,” Gesick said. “He knows the AXIS organisation, knows our business, and brings a strong understanding of the insurtech landscape.”
