AXA and Amazon To Develop First Global B2B Risk Management Platform

AXA and Amazon Web Services, Inc. (AWS), a subsidiary of Amazon.com, Inc., will collaborate to codevelop and establish the AXA Digital Commercial Platform (DCP) and associated software services, aiming to enable next-generation business-to-business (B2B) risk management.

The AXA DCP integrates industry, business, and environmental data with geospatial analytics and artificial intelligence (AI) technologies, allowing clients to monitor assets and navigate intricate risks such as natural disasters, supply chain disruptions, and cyber threats.

By harnessing AWS analytics, AXA plans to roll out services for its existing clientele and millions of AWS global customers over the next 2 years, accessible through the AWS Marketplace and the AWS Data Exchange.

Scott Gunter, chief executive officer of AXA XL, remarked, "Globally, clients are grappling with extreme weather, cyber attacks, and other shocks and disruptions. We believe that building resilience is more essential than ever. That is why we are excited to be working with AWS, combining their tech capabilities with AXA's expertise in commercial insurance to develop the next generation of risk management insights and services to help clients unlock their full potential."

To materialize DCP, AXA will leverage Amazon Bedrock. Amazon Bedrock is a service that offers a range of high-performing foundational models from leading AI providers, furnishing corporate clients with real-time data and analytics, including extensive historical datasets, to identify and evaluate factors potentially impacting operations, reputation, safety, security, or financial performance.

These insights will enable AXA's risk prevention services, underwriting, and claims experts to foresee outcomes more accurately and mitigate risks while designing insurance products.

Alexander Vollert, group chief operating officer and chief executive officer of AXA Group Operations, said, "AXA's work with AWS is integral to our business transformation, which includes the evolution of traditional insurance to risk prevention and mitigation. This will help us seize new market opportunities faster, strengthen security, and become even more responsive to clients' needs."

Kathrin Renz, vice president of AWS Industries, added, "AWS will help AXA support its business clients, creating secure, compliant new services and capabilities fueled by advanced technologies like generative AI. Amazon's experience in building, operating, and scaling marketplaces will also help AXA tap into innovation from companies beyond the financial services industry, offering more ways to plan for uncertainty."