AXA Commercial

SchemesPartnering for growth

Our Proposition: Partnering for growth . . . . . . . . . . . . . . . . . . . . 4

Why place your schemes business with AXA? . . . . . . . . . . . . . . . 5

What’s different about ‘Partnering for growth’? . . . . . . . . . . . . 10

Claims service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Risk Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

Get in touch . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

Contents

AXA Commercial Schemes - Partnering for growth2 AXA Commercial Schemes - Partnering for growth 3

Partnering for growth

At AXA, we believe the most successful businesses are the ones who invest in growth. We want to be the insurer you choose to partner with to grow your schemes business.

I know that offering a broad appetite and competitive price is no longer enough to stand out from the rest of the market which is why we’ve worked hard to develop a proposition that has growth and flexibility at its core . So, whether you’re an existing AXA Schemes broker or looking to partner with us for the first time, we want to work with you .

By taking the time to understand your specific scheme and growth aspirations, we will tailor an approach that goes beyond the core insurance offering so we maximise the opportunity to mutual benefit .

We offer services such as marketing support with Ignition to new streamlined processes such as our Quick Fact Find, all of which are designed to make doing schemes business with AXA as easy as possible .

Combining our entrepreneurial approach to deals, a choice of commission models with the opportunity to benefit from our new AXA Growth lab and investment in specialist schemes expertise, we firmly believe we are the only insurer who can offer a true partnership for growth .

AXA Schemes at a glance

Why place your schemes business with AXA?

Jon WalkerManaging Director

AXA Commercial Intermediary

Our Proposition

Decision to pursue a scheme communicated within

48 hours with new QuickFact Find form

Broadened appetite and flexibility towards new

schemes ideas

Investment in specialist scheme teams to support local account managers

2 choices of commission model option:

Traditional or the new AXA Growth lab

We have more than

100 schemes

Access to value adding marketing services

from Ignition

We cover everything from farms to latent

defects schemes

AXA Commercial Schemes - Partnering for growth 5AXA Commercial Schemes - Partnering for growth4

Commercial Intermediary AXA Insurance

AXA Group AXA UK & Ireland

Agency Rating Outlook Last Update

S&P AA- Stable Jul 2018

Fitch AA- Stable May 2018

Moody’s Aa3 Negative Mar 2018

AXA Credentials

105mcustomers

Solvency

193%Debt gearing

32%171,000employees

Present in

63countries

2018Number 1 insurance brand worldwide for 10th consecutive year

(Interbrand)

We work with over

2,000brokers

Gross written premium (GWP)

£1.13bn12

Commercial branches

2SME Trading

Centres

Gross written premium (GWP)

£2.31bn4,250

employees

Combined operating ratio (COR)

101.30%

Total GWP

4.6bnUnderlying earnings

337mCombined operating ratio (COR)

96.50%

Continuing to benefit from our simplified operating model, we achieved a significant increase in gross revenues across all of our geographies

Thomas BuberlAXA Chief Executive Officer February 2019

Agency Rating Outlook Last Update

S&P AA- Stable Jul 2018

Fitch AA- Stable May 2018

Moody’s Aa3 Negative Mar 2018

AXA Commercial Schemes - Partnering for growth6 AXA Commercial Schemes - Partnering for growth 7

Inspire Underwriting Ltd

Inspire was set up as an independent underwriting agency in 2016 with strong links and existing books in the Parish Council and Professional Indemnity sectors.

Inspire was looking for one or two insurance partners that would:

¡ Support their growth aspirations with existing books and as it grows into new product lines and distribution

¡ Provide a long term commitment

¡ Reduce referrals and increase automation

¡ Offer flexibility on commercials including support with marketing fund

¡ Provide the bespoke product and pricing their markets require .

Midway Insurance Services Ltd

Midway is a specialist insurance broker in the property owners segment and well known as a wholesaler of bespoke products for leasehold blocks of flats under their Elevations Express brand.

Midway developed both their direct and wholesale propositions with one primary market . Looking to diversify their delegated authority view to developing AXA as their main secondary market . This serves to achieve their goal as being recognised as a major specialist in this market rather than being known as a broker with large schemes with one insurer .

AXA was excellent through the tender process, providing commercial flexibility, technical expertise and an appetite to grow. More importantly AXA has backed up the initial delivery promises made as we have built our first two products together to tight deadlines without compromising quality.

James de RoseChief Operating Officer, Inspire Underwriting Ltd

AXA has demonstrated significant capability in the schemes arena. They achieved a very complex build of our first full delegated authority scheme with them in only five weeks, which is a significant achievement considering how demanding we are with our attention to detail. Our customers have repeatedly told us that AXA’s claims handing has proved to be excellent and we look forward to working with them as a significant insurance partner for many years to come.

Paul Robertson Managing Director, Midway Insurance Services Ltd

Case study 1 Case study 2

How we supported Inspire

We worked very closely with Inspire to understand their business and their goals and were able to make a formal offer within two weeks of first discussing the tender . Thanks to the solutions we were able to offer, we were selected to work with Inspire on both schemes .

Since partnering with Inspire we have worked very closely in further developing and strengthening the proposition and ensured that we delivered to each key deadline .

How we supported Midway

Having agreed to work with Midway we completed a full scheme build in only five weeks . We worked in partnership to produce a custom document set including a bespoke policy wording, question set and statement of fact, specifically customised to the needs of those insuring the buildings of leasehold blocks of flats .

Midway made it clear to AXA what standards they expect from an insurer . By working closely with Midway we were able to ensure underwriting guides and delegated authority were fit for purpose and conclude legal agreements in a very short time frame . By providing dedicated loss adjustors along with access to our Claims Relationship team and online access to claims reporting via eServe we were able to meet their expectations .

We also provided bespoke marketing support which included funding to launch the scheme and ongoing support from Ignition our in‑house marketing team . AXA are very pleased with the success of the scheme so far and look forward to many years of success working as partners with a multimillion pound distribution facility .

AXA Commercial Schemes - Partnering for growth8 AXA Commercial Schemes - Partnering for growth 9

Ignition Services Schemes New Business Growth Funnel

Planning/ budget ROI

Sales training and product promotion

Marketing campaigns/ digital tools

Needs profiling/ product design

Market data/ competitor insight

£k

£m

Av . Prem

No . of sales

Conversion %

Lead volume

Response rate %

Contact opportunity

% quality pipeline

Total scheme market size

% scheme target (prospects)

Total sector market size

What’s different about ‘Partnering for growth’?

We’ve strengthened our established schemes proposition to give you unrivalled service enhancements and trading flexibility. Our key proposition elements can be grouped into four main areas:

¡ Broadened underwriting appetite

¡ Growth partner

¡ Dedicated schemes expertise

¡ Quality and speed of service .

Broadened underwriting appetiteYou know a partnership with AXA gives you access to cover for a wide and diverse range of risks but what is less well known is the scale and flexibility of our appetite .

Whilst we cater for traditional schemes across casualty, motor and property, our capability and expertise extends much further . We still want to hear about schemes such as property owners and farm but we’re also keen to hear about your niche and non‑standard schemes like ice cream vans, tool box schemes and barber schemes .

We’re committed to adopting a truly entrepreneurial approach to schemes so we invite you to challenge us with any innovative schemes opportunities you have in mind .

We also know that properly servicing schemes business requires expertise so we’re investing even further to give you access to more dedicated underwriting resource . Your local Relationship Manager remains your gateway into AXA with the same level of empowerment you’ve come to expect, but they will be supported by a larger schemes specialist team whose sole job it is to understand your scheme and who will ensure you receive the quality of service you need .

Growth partner Choice and flexibility is important when it comes to remuneration so we’re offering 2 commission deals for partnering for growth . Whether you have an established scheme or simply an idea, you have the choice to opt for either a traditional commission model, or if you have an appetite to challenge your current level of schemes growth, you can take advantage of our new AXA Growth lab, an industry first .

So how does the AXA Growth lab work?The AXA Growth lab consists of a half day consultancy with Ignition, AXA’s in‑house marketing agency . By looking at your current scheme, growth aspirations and the market you operate in, we will explore all aspects of the schemes new business sales funnel . This will help to identify the right mix of services to accelerate growth and produce an actionable plan for both parties .

AXA Commercial Schemes - Partnering for growth10 AXA Commercial Schemes - Partnering for growth 11

Before we begin the Growth lab we will ask you to complete some prework with the aim of getting maximum benefit from the half day session together.

The prework is designed to provide us with some context around your current scheme book:

¡ Who are your target scheme customers?

¡ What are their drivers to buy from you?

¡ What is a typical customer experience/journey?

We will also be looking to gain some insight into what you perceive to be your enablers and barriers to new business growth:

¡ What works well in terms of new business growth?

¡ What doesn’t work well in terms of new business growth?

During the Growth lab session Ignition will present the prework they too have undertaken, the combination of which will be used to translate into an actionable plan for your scheme .

What can you expect from the Growth lab?Output from the Growth lab will be aligned to three main areas of activity:

¡ Online

¡ Event

¡ Offline .

Ignition will generate a report containing recommendations and costings for each element . This includes AXA funded support for marketing and communication actions identified with an initial day one funding pot and funding top ups based on delivery of agreed joint scheme growth targets . This will give you a clear overview of the investment we and you will need to make to help grow your business .

The decision on whether to proceed is entirely optional and should you choose not to or choose the traditional commission model instead, you can still take advantage of the insight and recommended priorities .

¡ Documentation

¡ Flyers

¡ Direct Mail

“ As a new scheme we needed to make an immediate brand impact and also maximise our marketing spend. The Ignition design process and resulting promotional material ensured this delivered on both counts.”

Stephen SaundersDirector, W B Baxter Ltd

¡ Trade exhibitions

¡ Banners/stand design

¡ Guide brochures

¡ Surveys

¡ Mystery shoppers

“ We have worked with the AXA and Ignition team for years and have seen the positive impact that well executed marketing delivers. The ideas and practical support Ignition provided for a trade exhibition was in particular extremely valuable for scheme growth.”

Anthony BirchManaging Director, Slade Edwards

¡ Broker tools

¡ App development

¡ Broker CRM

¡ Website design

“ We really value the support and expertise from Ignition with managing our online campaign. They spent time to truly understand our distribution by carrying out a very detailed web review and they have been very effective with our online marketing. Specifically in respect of our Google pay per click campaign for direct business they have increased the number of new business enquiries whilst reducing the cost per enquiry. I would have no hesitation in recommending Ignition.”

Paul RobertsonManaging Director, Midway Insurance Services Limited

Why use Ignition?

Online

Event

Offline

AXA Commercial Schemes - Partnering for growth12 AXA Commercial Schemes - Partnering for growth 13

Partnering for Growth

Detailed Fact Find

89

3

2

£

7

Par tnering for GrowthAXA SCHEMES

AXA Schemes 1

XYES NO

5

6

10DETAILED FACT FIND

Why are they looking to us to underwrite?

What does the broker want? Broker’s key requirements from us ( any deal breakers)

What are their timescales expectations?

P

Deal specifics/background

DETAILED FACT FIND

Why are they looking to us to underwrite

?

What does the broker want? Broker’s key requirements fro

m us ( any deal breakers)

What are their timescales expecta

tions?

P

Deal specifics/background

4

48hPartnering for growth

We know that sometimes it’s difficult to understand how the process works when 2 commission models are available, so we’ve outlined the broker journey to guide you through the process.

From filling in our Quick Fact Find on axaconnect.co.uk/schemes to choosing which model is right for you, we’ll be transparent about what you can expect every step of the way .

Broker/AM completes the QFF on the AXA Connect Schemes page . This is submitted to the Schemes mailbox or preferred AXA representative .

AXA Schemes hub (ASH) review QFF and broker receives decision on whether we want to pursue a piece of business within 48 hours .

Once scheme is live, regular reviews in diary . Growth plan tracked and actioned where Deal 2 in play .

ASH/AM meets with broker to talk about the AXA proposition and introduce Detailed Fact Find (DFF) .

Broker with help from ASH/AM fills in DFF document and returns with relevant information to the Schemes mailbox .

Broker contacted by the ASH/AM, taken through their options . It’s at this stage that the broker chooses Deal 1 (Traditional) or Deal 2 (AXA Growth) .

For brokers who choose New Growth Deal (Deal 2) a Growth lab with Ignition is set up . Following this a joint Growth plan is produced .

Proposal meeting/ tender/sales pitch to include ASH/AM .

Broker accepts AXA proposal and an implementation plan is drawn up . Proceed to implementation

of scheme .

If broker chooses Deal 1 (Traditional) they go directly to proposal meeting

AXA Schemes Journey

AXA Commercial Schemes - Partnering for growth14 AXA Commercial Schemes - Partnering for growth 15

Dedicated schemes expertise and support tools

While other insurers have scaled back their regional teams, we realise the importance of having dedicated support.

As our commitment to the schemes market grows along with our desire to offer you an enhanced proposition, we recognised that this expansion needed to be reflected in the size and strength of our teams . So, in addition to investing in more specialist schemes Underwriters, we’ve also added to our team of specialist Account Managers .

Our teams can work with the you to transact your business in a variety of ways, including the usual full or partial DAs, as well as a bespoke offering depending on your requirements . Every scheme has its own Dedicated Scheme Developer, whose job it is to understand your specific schemes needs and use their expertise to build the right offer to maximise growth . Once up and running, they will support with:

¡ Undertaking Monthly Monitoring of financials / profitability / BDX Returns

¡ Undertaking regular Review Meetings to ensure your schemes proposition remains fit for purpose . This could include

» Review of NB performance

» Review of Retention performance

» On‑going review of DA levels to ensure broker has most effective level of empowerment

¡ Supporting / Co‑ordinating any marketing support

¡ Co‑ordinating / Delivery of relevant training

¡ Engaging with relevant Claims teams to ensure there is the right level of claims awareness both internally and externally

¡ Work with you to provide bespoke underwriting guides/flexibility with policy wordings

¡ Being involved in the audit process .

Your local schemes point of contact can be found on page 22.

Quality and speed of service

We know how important speed and responsiveness is when it comes to servicing schemes business and based on your feedback, we recognise that our processes haven’t always been as straightforward as they could be. To address this, we’ve developed some new tools to improve our agility when deciding whether we want to pursue a piece of business or not.

Detailed Fact Find (DFF)

Once we have assessed the QFF and made a decision on whether we want to make a proposal for your scheme, we will issue you with the Detailed Fact Find . We have improved and streamlined our question set so this document clearly outlines all the commercial information we will require to make the process as easy as possible .

Once you have completed the DFF you will need to email it back to us along with any financial records requested so we can proceed with the on‑boarding of your scheme .

Quick Fact Find (QFF)

Our Quick Fact Find consists of a few short questions which can be completed online via our broker facing website axaconnect.co.uk/schemes or face‑to‑face with an Account Manager . This information will be used to evaluate your scheme and assess whether we want to pursue a piece of business within 48 hours of submission .

What’s different about ‘Partnering for growth’?

AXA Commercial Schemes - Partnering for growth16 AXA Commercial Schemes - Partnering for growth 17

At AXA, we pride ourselves on our award-winning claims service, which throughout the years has set us apart in the market.

We know how important it is to offer continuity of service which is why we provide dedicated Claims Relationship Managers . As your gateway into claims, they will take the time to understand your individual claims needs, offer advice on services you may require based on the size and complexity of your scheme and ultimately ensure those needs are being met .

Our award-winning Claims serviceOur dedicated Relationship Management and Claims team truly understand your clients’ needs in the event of a claim .

This is the service you can expect from AXA if one of your schemes clients needs to make a claim:

People ¡ We have an award-winning Large Loss team as well

as dedicated Claims Handlers who deal with specialist schemes

¡ Your dedicated Claims Relationship Manager will ensure the smooth‑running of the account

¡ Universally accredited fraud technical experts with recognised qualifications within the insurance and anti‑fraud industries

¡ We have a nationwide network of 36 AXA Claims Inspectors handling 90% of all liability injury claims investigations

¡ Our Inspectors have, on average, 23 years of insurance or legal experience .

Tools ¡ eServe, our online Claims tracking tool, allows you

to see how your customer’s claim is going, as it’s going

¡ Faster payments pays within 2hrs when a settlement is made directly to our policyholders bank account to reduce inconvenience and enhance customer service .

AXA staff who are handling large loss claims have an average of

22 years of insurance experience

80% of claims handling staff have a CII professional qualification

Services ¡ We give you 24hr/365 days a year access to claims assistance with an easy and flexible notification process

¡ You will have access to our trusted external (local and international) partnerships including solicitors, loss adjusters and mediation specialists

¡ By teaming up with Feefo, your customers can publicly post online their rating and comments about the service and experience they received from AXA when making a claim

¡ Making Claims Clear is our award‑winning transparency initiative . We’ve developed a library of documents to help your customers better manage their risks .

In 2016, we settled 19% of property claims within 24 hours under our

‘One & Done’ process

In 2016 we dealt with 1,500 high value complex claims with a

combined value of £850m

80% of liability claims are settled in line with Ministry

of Justice portal fees

Claims service

AXA Commercial Schemes - Partnering for growth18 AXA Commercial Schemes - Partnering for growth 19

We know that Risk Management plays a key role in the service you offer your client. That’s why we help you to manage your own risks by minimising your clients’ exposure to the risks they face working in their sector.

What can we do for you?

¡ We can provide a point of contact in our Business Resilience team to support you and your clients at every stage .

¡ We have a joined up approach with our Claims Relationship Managers for an integrated support system for brokers and clients .

¡ We can have a meeting with brokers and clients to fully understand the risk management needs and requirements and agree a programme of work .

¡ Hold regular review meetings to ensure the delivery of work is on track, to review findings and to agree any amendments to the programme .

AXA Risk Management at a glance

To find out more about our full Risk Management proposition, take a look at our interactive PDF which shows the breath of services you can take advantage of from AXA .

in-house surveyors

50

All surveys completed by our in-house team no outsourcing

Engineers holding Business Continuity Institute qualifications

2

Chartered Safety Pratictioner Casualty Surveyors Surveyors

12

Years of loss prevention experience on average

273 Sprinkler Engineers

supported with

12 property solicitors

Years of combined experience

890

All surveyors have formal Health & Safety qualifications

best coverage across the UK

Risk Management

AXA Commercial Schemes - Partnering for growth20 AXA Commercial Schemes - Partnering for growth 21

Interested in partnering with us for schemes growth?

Brendan ClarkRegional Schemes Manager 07775 014992brendan .clark@axa‑insurance .co .uk

Rachael Cave Schemes Business Development Manager 07775 011520rachael .cave@axa‑insurance .co .uk

Joe LanderSchemes Development Manager 07815 700714joe .lander@axa‑insurance .co .uk

Tamsin HarrisonSenior Schemes Underwriter 07775 015851tamsin .harrison@axa‑insurance .co .uk

Michelle McTeerRegional Schemes Manager 07775 014708michelle .mcteer@axa‑insurance .co .uk

Naomi OsborneSchemes Business Development Manager 07775 020062naomi .osborne@axa‑insurance .co .uk

Jane EllawaySchemes Underwriting Manager 07974 830451jane .ellaway@axa‑insurance .co .uk

South North

We’re ready and eager to talk to you about how we can unlock the potential of your schemes business so please get in contact or visit axaconnect.co.uk/schemes to find out more. It’s the first step towards a more rewarding partnership for growth.

AXA Commercial Schemes - Partnering for growth 23AXA Commercial Schemes - Partnering for growth22

AXA Insurance UK plc Registered in England and Wales No 78950 . Registered Office: 5 Old Broad Street, London EC2N 1AD . A member of the AXA Group of companies . AXA Insurance UK plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority .

Telephone calls may be monitored and recorded .

AXA Commercial SchemesPartnering for growth