AXA – Digital Transformation Strategies
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AXA Enterprise Digital Transformation Strategies Report Overview
AXA has been focusing on using artificial intelligence, cloud, big data, and blockchain to digitally transform its operations. The annual ICT spending of AXA was estimated at $2.2 billion for 2023. A major share of this spending is earmarked for acquiring software, consulting, and hardware from vendors. AXA is a global insurance company offering both life and non-life insurance products. It offers life insurance and savings products such as individual life insurance, group life insurance, health and personal protection products, and individual and group savings retirement products. It also offers property and casualty insurance products such as motor, household, property, and general liability insurance, apart from retail banking products and services.
Total ICT Spending 2023 | $2.2 billion |
ICT Spend by Function | Data center, Communications, Network, Application, End-User computing, Management, and Service Desk |
ICT Spend by Channel | Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others |
Technology Theme Focus | Artificial intelligence, cloud, big data, insurtech, and blockchain |
The AXA enterprise Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerator programs and innovation centers, technology partnerships, technology introductions, venture arm, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
AXA is applying AI-driven tools to better assess and predict risk and deliver better services to customers. The accurate prediction and natural language processing (NLP) capabilities of AI tools are helping AXA improve customer service.
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AXA Technology Theme Focus
AXA is utilizing a number of emerging technologies including artificial intelligence, cloud, big data, insurtech, and blockchain among others to enhance its operational and service capabilities-.
AXA Technology Theme Focus
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AXA Technology Initiatives
AXA has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments and acquisitions over the last few years. For instance, in 2019, the company introduced three AI bots called Harry, Bert, and Lenny to help staff across its businesses with admin work. Harry operates in the customer property claims team, Bert works in commercial property, and Lenny in the liability team. The bots are designed to help the respective teams with repetitive administrative tasks like reading customer correspondence and pairing it with the necessary claim records.
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AXA ICT Spend by Function
- Data center
- Communications
- Network
- Applications
- End-user computing
- Management
- ICT Service desk
AXA ICT Spend by Function, 2023 (%)
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AXA ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
AXA ICT Spend by Channel, 2023 (%)
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AXA External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Consulting
- Network and communications
- Others
AXA External ICT Spend by Segment, 2023 (%)
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Scope
This report provides:
- Insight into AXA’s technology activities.
- Insights of its accelerator programs & innovation centers, and venture arm.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
This report provides:
- Insight into AXA’s technology activities.
- Insights of its accelerator programs & innovation centers, and venture arm.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of AXA in 2023?
The annual ICT spending of AXA was estimated at $2.2 billion in 2023.
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Which is the leading ICT spending category by function for AXA?
Network is the leading ICT spending category by function for AXA in 2023.
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Which is the leading ICT spending category by channel for AXA?
Internal development and maintenance is the leading ICT spending category by channel for AXA in 2023.
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Which is the leading ICT spending category by segment for AXA?
Software (including cloud SaaS) is the leading ICT spending category by segment for AXA in 2023.
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What are the key technology themes in focus for AXA?
The key technological themes in focus for AXA are artificial intelligence, cloud, big data, insurtech, and blockchain.
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