On June 19, during the grand opening of the Lujiazui Forum, AXA Hong Kong and the PICC Property and Casualty Company Limited solemnly signed a memorandum of cooperation with overseas partners, marking the official launch of a new chapter in strategic cooperation in the global reinsurance business.
Against the backdrop of multiple uncertainties and a new round of changes and opportunities in the current world economy, we deeply realize the importance of reform and innovation in the financial field, especially in promoting high-quality financial development as a key force to solve global economic issues and promote sustained growth. In response to the theme of the Lujiazui Forum, “Promoting World Economic Growth through High-Quality Financial Development”, the Shanghai Bureau of the China Financial Regulatory Commission grandly held the “Signing Ceremony of the Memorandum of Cooperation for Jointly Building the Shanghai International Reinsurance Registration and Trading Center”. This not only reflects China’s financial two-way opening-up strategy of equal emphasis on “bringing in” and “going out”, but also demonstrates our firm commitment to global financial cooperation and development.
It is reported that AXA and PICC are about to reach a strategic cooperation at the group level. Been deeply rooted in the Chinese market for 25 years, AXA has always been committed to fully supporting the national “Belt and Road” initiative through innovative cooperation models and actively seeking in-depth cooperation with large state-owned financial institutions, aiming to achieve mutual benefit and win-win results.
At the grand event of the Lujiazui Forum, Mr. Kevin CHOR, CEO of AXA Tianping stated that “On the occasion of the 60th anniversary of the establishment of diplomatic relations between China and France, coinciding with the 25th anniversary of AXA’s establishment in China, we feel deeply honoured and have a great sense of responsibility. AXA will continue to leverage its global expertise and local networks to continuously expand the breadth and depth of insurance services, contributing to promote high-quality financial development and boosting world economic growth.”
AXA Tianping remains fully committed to the Chinese market and continues to increase its investment in reinsurance business. As an important witness to the first anniversary of the establishment of the Shanghai International Reinsurance Registration and Trading Center, AXA Tianping will leverage its global sophistication and expertise to actively explore innovative cooperation and for the purpose of promoting the vigorous development of reinsurance business, supporting the construction of the Lingang International Reinsurance Functional Zone, and promoting high-quality financial development and world economic growth.
In the future, AXA Tianping will continue to embrace innovative development, enhance service quality, leverage policy advantages, response to market demand, coordinate resources from all sectors, and collaborate for mutual growth to achieve collective success together.
The 8th New Employee Orientation & Training was successfully convened to help new employees quickly integrate as well as to gain a deeper understanding of the company’s culture and its values. Organized by Learning and Development team, a one-day project was planned, engaging part of the company’s senior management team and department heads, who have lent their expertise and experiences regarding the functional roles of the departments, the overall business development to new employees. Through a series of well-designed activities, new employees deeply felt the mission and vision of AXA while accelerating interdepartmental communications with colleagues across different teams.
We would like to invite you to have a quick go-through of the training day:
Liancheng ZHOU, Executive Vice President and Chief Distribution & Sales Officer greeted new employees for joining AXA family, followed by emphasizing that every member should embrace the “cultural confidence” of AXA and to pursue excellence during the company’s transformation journey.
Jie ZHANG, Director of Learning and Development team, took The history of AXA as the context to vividly demonstrate some of the iconic scenes of AXA, namely “The Journey to the Stars”, “Meeting in the Desert”, and “The Phoenix Totem” to inspire new employees to learn the resilience and adaptability that AXA upholds in adversity.
Shuai TIAN, Assistant General Manager of Pricing and Underwriting team, embodying the spirit of AXA’s first “Star of COURAGE”, explained the values of AXA to the new employees and encouraged everyone to boldly express themselves and speak for themselves in AXA, where Inclusion and Openness are welcomed.
From a macro perspective, Siyuan DAI, Director of CEO Office & Chief Transformation Officer, introduced the company’s unique strategic positioning and brand value, which combines both the “entrepreneurial spirit” of Taiping Insurance and the group sophistication, diversity and inclusion of AXA’ Group. Furthermore, from a micro perspective, she shared her personal involvement in strategic changes and transformation projects, encouraging everyone to find their own value in this workplace.
Yan ZHENG，director of Distribution Support, provided an in-depth overview of the company’s broker distribution development and the advantages of its long-term strategy from three perspectives: sales channels, distribution empowerment, and typical case studies.
The General Manager of the Sales Planning team, Zhijun QU, thoroughly explained the company’s institutional development layout and business strategy, stating that in 2024, value creation and compliant operations will be prioritized and focused.
Fred DING, Chief Health Officer, introduced AXA’s diversified health insurance solutions launched against the backdrop of DRG/DIP reforms. These solutions cover a wide range from the mass market to the high-end segment, not only simplifying the claims process but also enhancing the security throughout the entire health management service cycle. This reflects AXA’s professionalism and innovation in the field of health insurance.
Cherry WANG, head of Group Insurance and Inclusive Insurance, introduced in detail the functions of the department, including the business model of group insurance, as well as the clientele and development direction of inclusive insurance.
Based on the responsibilities of various departments in commercial insurance, main insurance types, key customers, and the underwriting capacity and preferences of each insurance type, Haiyong LIU, general manager of the Claims Department of the Commercial Insurance Business Unit, shared the business operation ideas of commercial insurance with the audience.
As the Assistant General Manager and Chief Claims and Customer Service Officer, Yang Yong provided an in-depth analysis of various factors to be considered in the claims process through a case study of motor insurance claims. He also introduced the departmental structure, data services, digital progress, and complaint management strategies.
Xiaofeng Zhang, General Manager of Pricing and Underwriting Department, elaborated on the three prominent characteristics of motor insurance business, which led to the discussion of the complexity of its pricing and decision-making, emphasizing on the importance of refined management and cross-departmental collaboration.
Norman Luo, head of the Legal and Compliance Department, outlined the responsibilities of the department and introduced the requirements of the group’s compliance system, including data privacy, anti-bribery & corruption, anti-money laundering, and sanctions compliance. He emphasized on the importance of compliance in the company’s operations.
Chief Financial Officer, Pierre LAUR, detailed the functions of his three key teams in the finance department, and introduced a three-year strategic plan to achieve break-even in 2024 and lay the foundation for profitable growth in 2025 and 2026 through key strategic initiatives, expecting everyone to continue to work to achieve the company’s goals.
Richard QIU, Assistant General Manager, Chief Risk Officer and Secretary of the Board, used an analogy of crossing a river to illustrate the importance of risk management, emphasizing that the value of risk management lies in defining the boundaries of action and ensuring that goals are achieved within a safe range. He also introduced the company’s sophisticated risk management system, the company’s internal control and governance structure, the responsibilities of the risk management team, and the management of potential risk events.
The Chief Operation Officer and Chief Data Officer, Philip YU, showcased the department’s development in various areas, ranging from IT to data，to security, and operations. Meanwhile, he also emphasized the technological advancement of the company’s IT environment, demonstrating the company’s technological strength and its 24-hour service capability.
Senior Compensation and Benefits Manager Ruyi ZHANG and Senior Human Resources Business Partner Xi YU separately introduced the compensation and benefits policies as well as the performance management policies. Through detailed introductions, they helped employees gain a better understanding of the company’s compensation, benefits, and performance management systems, as well as how these systems can promote personal and organizational development.
As we step into the new era of the company’s transformation journey, challenges and opportunities coexist. Every new employee is expected to offer vitality and energy, seizing the opportunities to progress with the company.
With typhoon season approaching, severe weather is expected to hit many parts of the country. In response to possible emergency claims, AXA Tianping has established a disaster prevention and loss reduction task force, headed by Yang Yong, Chief Claims and Customer Service Officer, and jointly composed of the Claims and Customer Service Center, the Commercial Claims Department, and the claims teams across branches.
The kickoff meeting for the special action on disaster prevention and loss reduction in 2024 was held on June 4th, mobilizing all employees to attach great importance to disaster prevention and loss reduction. Chief Claims and Customer Service Officer Yang Yong attached great importance to the disaster prevention and loss reduction work to ensure a successful delivery of the company’s business goals, especially in face of increasingly frequent extreme weather.
During the meeting, the Claims Management Department from the headquarters set out detailed action plan for disaster prevention and loss reduction. Regarding the response to catastrophic disasters, branches are required to prepare emergency rescue and relief supplies in advance, combined with automatic disaster weather alert message system. They are also encouraged to actively participate in the industry’s risk screening, and to target key distributions such as enterprise property insurance customers, motor insurance group customers, and new energy insurance brands. The marketing department will cooperate in conducting safety promotion campaigns, supporting the branches’ risk reduction efforts, and promoting the development goal of “reducing costs, improving quality, increasing efficiency, and achieving profitability.”
Haiyong LIU from Commercial Claims Department reminded that floods, heavy rains, typhoons, among other disasters have caused significant losses to the insurance industry. Therefore, branches need to attach great importance to disaster prevention and risk reduction work, and to study the on-site investigation and training materials for disaster prevention and loss reduction during the flood season, conduct customer screening and risk survey services based on actual conditions, and help customers with disaster prevention during the flood season.
Hui RAO from the Claims Management Department calls on the entire claims team to shift their mindset from being “loss payers” to “risk managers.” The goal is to establish a comprehensive risk prevention and control system that includes “pre-disaster prevention, rapid response, and precise claims processing.” This will help better serve insurers’ role in leveling down risks while ensuring economic and social stability for the whole society.
Looking back to 2019, AXATP embarked on a transformation journey full of opportunities and challenges following its completion of sole ownership. Over the past four years, driven by the mindset of high-quality development and profitable growth, each branch has shown remarkable progress in diversifying business, deepening distribution channel development, and enhancing team capabilities, we are also in a leading position in the non-motor transformation among our peers.
In terms of Motor, we successfully navigated the complex challenges of deregulation, continuously strengthening our core competencies in pricing, underwriting, and claims management. We not only significantly optimized policy costs but also actively explored new energy vehicle business.
As for Health, we seized valuable opportunities in non-motor sectors. Our flagship product “Zhuoyue Xinxuan (Comprehensive IP+OP)” leads the UMC health insurance market, with a renewal rate steadily maintaining at a high level of 70%, making it a highly recommended product among top-tier brokerage channels. Branch business has seen an astonishing eight-fold growth in just four years, with increasing professionalism within the team showcasing a clear competitive edge.
As regards Commercial Lines, leveraging global underwriting capabilities and technical support, combined with our local branch network, robust on-the-ground service capabilities and business breakthroughs in reinsurance cooperation with top domestic insurancers, we achieved significant progress in the development of commercial insurance. Premium has grown sixteen-fold over five years, with nearly 13,000 clients accumulated and expansions into over a thousand distribution channels, establishing efficient and professional underwriting teams and system capabilities.
However, the path of transformation has never been smooth, and the constant changes in internal and external environments present ongoing challenges. As we enter a critical phase of transformation, issues such as non-diversified business model and inadequate resilience against risks are becoming increasingly apparent. It is imperative to approach this transformation with a fresh perspective and cautious attitude, ensuring strong vitality and adaptive capabilities amidst changes.
On June 14th, under the joint witness of AXATP’s management and head of branches, the “Spark Transformation Plan” was officially launched. This project aims to stimulate branch wisdom and independent innovation, leveraging opportunities such as regulatory windows like “alignment of reporting and operation,” increasingly rationalized market competition, and concentrated resources for pioneer branches. The goal is to optimize business structures, expand business domains, and explore new growth areas. We look forward to grow the transformation spark into a wildfire over the next two to three years. In this new journey of transformation, let’s embrace this change with high spirits and provide solid support and assurance for the successful implementation of the transformation project.
No success comes easily, and hope often emerges from adversity, requiring our full commitment. Let us maintain steadfast beliefs, make adequate preparations, keep high spirits, seize the moment, take action, work together, and create new glories!
25 employees from headquarters and branches have stood out at the end of the AXA Star Nomination, being awarded for embedding AXA values throughout their daily work. A special column has been created for us to know them better.
This month, we are delighted to share with you the stories of Donghao SUN from Wenzhou sub-branch, the Star of Courage; Bin ZU from non-motor Sales, Star of Customers First, and Jun LIU from Claims department, Star of AXA One.
As the general manager of the Wenzhou sub-branch, Donghao has always adhered to the management principle of “thinking in place, execution in place, and results in place” in facing various challenges, winning the company a good reputation and sustainable development.
By strengthening cooperation with distributions and intensifying interaction frequency, starting from focusing on renewal insurance and quality, Donghao has propelled the Wenzhou Central Branch to make significant progress in the construction of motor distribution, successfully establishing five million-scale motor insurance distributions and expanding the original 2 million-scale distribution to 4.5 million. He has optimized the inventory scale of the auto dealers’ distribution of Wenzhou Star and Wuzhou Group, and added four new BYD 4S stores as partners, two of which have insurance premium capacity exceeding 1.3 million yuan.
By establishing a mechanism for promoting repair and insurance premium renewal, and strengthening the linkage between claims and business operations, he has successfully increased the ratio of repair promotion to production from the original 1:0.6 to the current 1:1.8. He focuses on enhancing the quality of motor insurance business, taking a series of measures such as optimizing business selection, increasing anti-fraud and violation factors, and identifying high-risk individuals, which have effectively optimized the claims process, reduced compensation costs, and lowered the historical compensation ratio from 67% in April 2023 to 54.34% by the end of November of the same year. Additionally, the claims cost ratio has dropped from 8.61% in 2022 to 6%.
At the same time, the Wenzhou branch has also made significant breakthroughs in the field of corporate cargo insurance. He led his team to communicate with clients multiple times, providing holiday greetings and guidance on claims, and successfully won the recognition of AXA’s brand and services from clients such as Tsingshan Group. It is estimated that the premium in 2024 will exceed 1.2 million.
Q1：How does it feel knowing that you’ve been awarded as AXA Star?
Seeing my name attached to that award is encouraging. I would like to thank my colleagues, my family and friends without whom I wound not have made it. Being awarded will only motivate me to work harder and move forward with more confidence.
Q2：What are your habits to keep confident, healthy and positive?
I love jogging, bicycling, and trekking, as outdoor activities can boost positive emotions and prevent negativities from happening. Being emerged in the nature can also set me free and give me peace of mind.
Q3：Please share with us a book, a movie or a theatre piece.
I really enjoy reading biographies, and I recently finished reading “The Biography of Chu Shijian”, who became the director of a sugar mill and turned it from a loss-making enterprise to a profitable one in just one year at the age of 36. When he was 52, he was transferred to a cigarette factory, and over the next 17 years, he brought the local cigarette factory to the first place in the country and the fifth place in the world. After reaching the peak of his life, he encountered setbacks when his daughter committed suicide at 68 and he was imprisoned at 72. When he reappeared in the public, he was already 75 years old, borrowing 10 million RMB to start a new business – planting oranges. In five years, he repaid all the loans. He has the magic of turning losing companies into profitable ones to achieve good business results. Mr. Chu said, “Looking back on these years, I am most conscience-clear that I have not lived an indifferent life.” I am deeply inspired and come to understand that nobody can beat you up unless you allow them to do so.
Zu Bin serves as the Client Manager of AXA Jinan subbranch. After nearly three years of working at AXA, he has been fighting at the forefront, listening closely to the voices of agents, accurately identifying the specific needs of customers, actively sharing claims cases and product interpretations through WeChat groups, timely communicating and delivering information, and answering questions from distribution partners, earning the trust of everyone.
In 2023, Bin has accumulated a total premium of 9.07 million yuan in health, retail and commercial lines. He actively promoted and expanded the distributions of AXA’s global high-end health insurance, with his business promotion accounting for 65% of the province’s total business. He repeatedly assisted brokers and customers in contacting medical services, collecting claim information, and received praises and commendation flags from customers. He successfully promoted 10,000 policies of the People’s Insurance program, enabling more local residents to enjoy comprehensive protection at affordable prices.
Bin always keeps in mind that we are not a payer, but rather a partner to our customers, and is committed to making more customers know, understand, and trust AXA’s brand as well as its protection services.
Q1：How does it feel knowing that you’ve been awarded as AXA Star?
I feel very proud for being recognized by colleagues and my business partners who have always supported me, motivating me to work harder and live AXA values to bring better services to our customers.
Q2：What are your habits to keep confident, healthy and positive?
During the holiday, I will take my family for a short trip to relax in nature. I will maintain pleasant communication with friends of the same wavelength, balancing work and rest, and bringing a good state of mind back to life and work.
Q3：Please share with us a book, a movie or a theatre piece.
Recently, I’ve been reading “Patients Without Borders”. In my daily work, I often encounter clients who seek medical treatment in different cities. I’ve seen too many cases of high-end medical services assisting clients with overseas treatment. However, after reading this book, I was still deeply shocked. It reveals more details than conventional insurance claims cases. The author’s personal struggles with overseas treatment, psychological changes, the full support from family and friends, and the mutual encouragement between doctors and patients… all these stories are touching and teach us about resilience, perseverance, and hope in facing life.
Since joining AXA Tianping in 2011, Jun has successively held the positions of major vehicle claim management and SIU special investigation. During this period, he has constantly honed his professional skills and was appointed as a new energy claim expert by the headquarters in 2023. He has also achieved the intermediate level in vehicle claim and anti-fraud investigation and the entry-level in accident and health insurance within the claim series. He is adept at utilizing his professional knowledge and skills in his daily work to help the claim management department continuously improve its claim handling skills and service awareness, providing better and more efficient services to the company and customers.
In the field of new energy vehicle insurance, Jun actively participated in the “AXA Tianping 2023 Advanced Training Course on New Energy Vehicle Claims Practices” organized by the headquarters and successfully obtained the graduation certificate. In the same year, he collaborated with leading new energy vehicle repair enterprises in the industry to jointly organize several special new energy training sessions and had in-depth communication and exchanges with the training institutions during the training period.
Without increasing his own personnel, he successfully took over the personnel injury work and made rational use of the remote loss assessment team scheduling tool, achieving a per capita productivity of 4.4 (while the average per capita productivity of urban institutions is 3.8), an increase of 22.2% compared to 2022, ranking among the top in the company.
Q1：How does it feel knowing that you’ve been awarded as AXA Star?
It’s been an extremely encouraging and honorable feeling, which represents a recognition of my leadership, my skillset, and team spirit. It will inspire me to continue to strive forward, constantly surpass myself, and make greater contributions to the company’s development and achievements. I feel the responsibility of having greater influence serving as a role model to the team.
Q2：What are your habits to keep confident, healthy and positive?
A healthy body is the foundation for maintaining self-confidence and happiness. I work out on regular basis. It keeps me healthy, energetic, and helps to relieve stress, and enhance my self-confidence. I usually prefer to travel to island resorts and cities. Gazing at the blue sea and the sky can keep me happy, help me relax, and enable me to enjoy life better.
Q3：Please share with us a book, a movie or a theatre piece.
I’ve been reading “Teacher HE on Economics”, in which it’s been mentioned that “true knowledge is a framework, and it’s about transforming chaotic inorganic matter into organic matter, forming higher life forms from simple single cells, and integrating fragmented information into a system that shapes one’s worldview and life values.” I really like this quote that says “knowledge is important, and everyone is constantly absorbing new knowledge day and night. However, this knowledge is often scattered and fragmented. Only by placing that information into an established framework, can it become useful and applicable. Ultimately, this will form a powerful system that can change one’s life.
As the Dragon Boat Festival approaches, carrying the fragrance of bamboo leaves, I extend the company′s most heartfelt wishes to all of you: may this season bring you health, wealth, and fortuitous blessings, to you and to your families.
Let us paddle forward carrying the strength and harmony of a dragon boat, navigating through waves and forging ahead together as a united team.
In early May, President Xi′s visit to France marked the celebration of the 60th anniversary of China-France diplomatic relations. During this momentous occasion, the CEO of AXA Group graced the pages of China Daily with a signed article, reaffirming AXA′s steadfast commitment to China′s development. For the past 25 years, we have proudly served as ambassadors of Sino-French cultural exchange, dedicated builders of financial strength, and pioneered high-level financial openness.We will remain devoted to elevating Sino-French relations to new heights moving forward.
On May the 24th, we had the honor of attending the Gala Dinner themed ″Celebrating Six Decades of Sino-French Brilliance″ hosted by CCI, celebrated the dawn of a new chapter in Sino-French cooperation, looking forward to a future filled with shared achievements and enduring partnership.
On May 24th, we had the honor of welcoming Chen Jinshan, esteemed member of the Standing Committee of the Shanghai Municipal Party Committee, Secretary of the Party Working Committee of the Lingang New Area, and Director of the Management Committee, along with his delegation. Mr. Chen lauded our collaboration with the Lingang New Area and expressed his aspiration for us to jointly advance the establishment of the international reinsurance board.
AXA remains steadfast in leveraging its professional expertise in insurance protection and risk management. We are dedicated to fulfilling our corporate responsibilities and commitment to the China market, supporting the development of the real economy, and safeguard both financial and social stability. Together, we strive to shape a resilient and prosperous future.
At the end of the month, we have proudly participated in the ITB China Travel Trade Show, invigorating the global tourism industry and fostering robust market growth alongside fellow industry leaders. Tourism represents not only people′s yearning for a better life, but also a vital conduit for cross-civilization dialogue and exchange. The world beyond beckons with its wonders, and thoughtful preservation nurtures peace within our hearts. We are committed to deepening our collaboration with global partners, offering travelers enhanced quality, convenience, and heartfelt service. Together, we aim to promote the prosperity and progress of the global tourism industry, enriching lives and bridging cultures around the world.
Time flows like a river, and seasons dance in their eternal waltz. Next month heralds our annual global employee volunteering week ″AXA Week for Good″, embracing the theme of ″water″ inherited from Group. This year, we are to continue our partnership with Aiyou Charity Foundation to provide safe and sanitary drinking water for disadvantaged children in Liangshan, Sichuan Province. I hereby invite all partners and your relatives and friends to actively participate in the WeChat Step Donation Challenge held from June 3rd to 7th through Emma by AXA mini program. Together, let us spread love and warmth, contributing to AXA′s global campaign with strength and passion from China.
As the Dragon Boat Festival approaches, carrying the fragrance of bamboo leaves, I extend the company′s most heartfelt wishes to all of you: may this season bring you health, wealth, and fortuitous blessings, to you and to your families.
Let us paddle forward carrying the strength and harmony of a dragon boat, navigating through waves and forging ahead together as a united team.
In early May, President Xi’s visit to France marked the celebration of the 60th anniversary of China-France diplomatic relations. During this momentous occasion, the CEO of AXA Group graced the pages of China Daily with a signed article, reaffirming AXA′s steadfast commitment to China′s development. For the past 25 years, we have proudly served as ambassadors of Sino-French cultural exchange, dedicated builders of financial strength, and pioneered high-level financial openness.
We will remain devoted to elevating Sino-French relations to new heights moving forward.
On May the 24th, we had the honor of attending the Gala Dinner themed ″Celebrating Six Decades of Sino-French Brilliance″ hosted by CCI, celebrated the dawn of a new chapter in Sino-French cooperation, looking forward to a future filled with shared achievements and enduring partnership.
On May 24th, we had the honor of welcoming Chen Jinshan, esteemed member of the Standing Committee of the Shanghai Municipal Party Committee, Secretary of the Party Working Committee of the Lingang New Area, and Director of the Management Committee, along with his delegation. Mr. Chen lauded our collaboration with the Lingang New Area and expressed his aspiration for us to jointly advance the establishment of the international reinsurance board.
AXA remains steadfast in leveraging its professional expertise in insurance protection and risk management. We are dedicated to fulfilling our corporate responsibilities and commitment to the China market, supporting the development of the real economy, and safeguard both financial and social stability. Together, we strive to shape a resilient and prosperous future.
At the end of the month, we have proudly participated in the ITB China Travel Trade Show, invigorating the global tourism industry and fostering robust market growth alongside fellow industry leaders. Tourism represents not only people′s yearning for a better life, but also a vital conduit for cross-civilization dialogue and exchange. The world beyond beckons with its wonders, and thoughtful preservation nurtures peace within our hearts. We are committed to deepening our collaboration with global partners, offering travelers enhanced quality, convenience, and heartfelt service. Together, we aim to promote the prosperity and progress of the global tourism industry, enriching lives and bridging cultures around the world.
Time flows like a river, and seasons dance in their eternal waltz. Next month heralds our annual global employee volunteering week ″AXA Week for Good″, embracing the theme of ″water″ inherited from Group. This year, we are to continue our partnership with Aiyou Charity Foundation to provide safe and sanitary drinking water for disadvantaged children in Liangshan, Sichuan Province. I hereby invite all partners and your relatives and friends to actively participate in the WeChat Step Donation Challenge held from June 3rd to 7th through Emma by AXA mini program. Together, let us spread love and warmth, contributing to AXA′s global campaign with strength and passion from China.
With the continued popularity of outbound tourism, the demand for travel insurance has also been constantly rising, becoming essential for many travelers to roam the world freely. On May 27th, AXA Tianping Property & Casualty Insurance Co., Ltd. (hereinafter referred to as ″AXA Tianping″) participated in the ITB China Travel Trade Show, joining forces with industry insiders to inject vitality into the global tourism industry and empower the booming development of the tourism market.
Kevin CHOR, CEO of AXA Tianping, stated that leveraging its leading edge in risk management and protection services, AXA Tianping is experienced with the insurance services required for various travel scenarios. Focusing on the real needs of customers, the company continuously expands the breadth and depth of its insurance services, integrates cross-border travel protection resources from different dimensions, and is willing to share the successful experiences of the AXA Group in different countries and regions around the world. The company integrates consumers′ personalized needs in travel protection into its products and services.
Travel Insurance Getting Increasingly Requested
This year marks the 60th anniversary of the establishment of diplomatic relations between China and France, as well as the Year of International Tourism Cooperation and Development designated by UNESCO. Catherine ODEN, General Manager of Greater China Region of Atout France, who served as the opening guest of this event, expressed that 2024 will be an important year for Sino-French cultural cooperation, with more than 140 major cultural activities expected to be held throughout the year. She looked forward to working with AXA to jointly promote Sino-French cultural exchanges and provide excellent cultural and tourism experiences for the people of both countries.
AXA Tianping Travel Insurance focuses on the middle and high-end markets. It not only conducts deep cooperation with multiple distributions such as mainstream vertical insurance sales platforms, online travel platforms, and travel agency integration platforms, but is also a certified partner of renowned visa centers, with offline visa centers covering 15 provinces across the country. Mr. Kevin CHOR stated that travel is the aspiration and pursuit of the people for a better life, and an important path for communication and exchange across civilizations. The world beyond is fascinating, and comprehensive protection brings peace of mind. AXA Tianping will continue to deepen cooperation with global partners, provide Chinese outbound tourists with more high-quality, convenient, and caring services, jointly promote cultural and tourism exchanges between China and the world, and drive the prosperity and progress of the global tourism industry.
Only 8.3 seconds′ response time for emergency thanks to global network coverage
AXA Tianping actively innovates cross-border travel insurance products and constantly expands the breadth and depth of insurance services, providing a variety of risk compensation for overseas tourism, covering multiple areas such as motor, travel, health, and more. Leveraging the Group′s 41 rescue centers distributed across five continents and a service network covering 208 countries and regions, AXA Tianping Travel Insurance stands out in terms of global professional rescue services, local services, resource allocation, and more. With over 6,500 emergency contact points, over 700,000 medical cooperation institutions, and a 24-hour rapid response service, AXA Tianping collaborates with multiple professional travel platforms to establish professional communication channels and service interfaces. Its offline visa center exhibition stands cover 15 provinces nationwide, enabling it to provide efficient and convenient overseas comprehensive travel insurance for Chinese travelers globally, including but not limited to emergency medical rescue, medical expense reimbursement, emergency evacuation, medical transportation, accidental death and disability protection, and other services. This ensures that travelers can receive year-round, 24-hour, and multilingual emergency assistance in case of accidents, with an average response time of only 8.3 seconds.
In addition, for enthusiasts of high-risk sports such as skiing and diving, as well as fans of extreme fans, AXA Tianping has accelerated product innovation in response to changes in market demand, increased protection for unconventional subjects such as extreme sports, innovated accident insurance for spectator events, and enriched diversified insurance plans. Whether it is cautious travelers pursuing cost-effectiveness or experiential travelers seeking high-quality experiences, they can all enjoy peace of mind for popular recreational sports, guaranteed protection against accidental injuries, cross-border medical coverage, and compensation for travel delays.
Media Coverage
Mr. Kevin CHOR, CEO of AXA Tianping got interviewed by mainstream media outlets. While sharing the cross-border travel insurance products and experiences of AXA Group, he stated that AXA Tianping is committed to promoting cultural exchange and tourism between China and foreign countries, and actively fulfilling its corporate social responsibilities. This has created a favorable public opinion atmosphere for the company′s sustainable development. Relevant reports have been published successively. Please click the link below for more details:
The Standing Committee of the Shanghai Municipal Party Committee Led by the Secretary of the Lingang New Area Party Working Committee Visited AXA Tianping
On the morning of May 24, 2024, Chen Jinshan, member of the Standing Committee of the Shanghai Municipal Party Committee, Secretary of the Lingang New Area Party Working Committee, and Director of the Management Committee, led a delegation to visit AXA Tianping Property & Casualty Insurance Co., Ltd. (hereinafter referred to as ″AXA Tianping″). Accompanying the delegation were Zhao Yihuai, member of the Party Working Committee of the Lingang New Area and full-time deputy director of the Management Committee, Liu Wei, member of the Party Committee and vice president of the Lingang Group, and relevant responsible persons from relevant departments of the Management Committee, the joint working team for reinsurance, and the economic company of the New Area.
Ms. Sara Zhu, Chairman of Board of AXA Tianping, and Mr. Kevin CHOR, Chief Executive Officer, warmly received the delegation and hosted a symposium. Both parties conducted deep discussions on topics such as deepening cooperation between AXA Tianping and the Lingang New Area in the fields of reinsurance and financial technology, as well as accelerating the introduction of technological talents.
Sara mentioned the new trends of development in Lingang New Area. She stated that this year marks the 60th anniversary of the establishment of diplomatic relations between China and France, as well as the 25th anniversary of AXA′s deepening presence in the Chinese market. AXA is one of the earliest foreign insurance groups to participate in China′s financial market and has been a witness, participant, and beneficiary of China′s high-level opening-up in the financial industry. Every milestone of the company′s development cannot be separated from the unique business environment and strong support from all levels.
AXA Group attaches great importance to its development in the Chinese market and maintains a strategic commitment to deepening its presence in the local market. In the future, AXA Tianping will continue to increase its investment and promote innovative cooperation between the company′s business in reinsurance and technology finance and Lingang New Area.
Kevin reported on the specific measures taken by AXA Tianping to deepen cooperation with the Lingang Special Area, including the promotion of the trading platform and business implementation of the Shanghai Reinsurance Operation Center, the introduction of cross-border reinsurance business promoted by the export of reinsurance data, the enhancement of AXA′s technology-enabled insurance business level by relying on technology insurance in the Lingang New Area, and the acceleration of the introduction of scientific and technological talents. He said, ″Adhering to the national strategy of insurance services and leading technological innovation is AXA′s corporate responsibility and commitment to the Chinese market. Rooted in the Shanghai International Financial Center and working hand in hand with the innovative development of the Lingang New Area, AXA Tianping has always closely followed the national strategy and Shanghai′s positioning, implemented the instructions of the ′Central Financial Work Conference′, and made positive contributions to the ′Five Major Articles′ of finance. ″
At the meeting, Secretary Chen Jinshan learned in detail about AXA Tianping′s business development, the introduction of high-tech talents and the layout of reinsurance business in Lingang New Area. He expressed the hope that AXA Tianping will give full play to the institutional and institutional advantages of the Lingang New Area, further innovate the development model, improve the service level, and help the construction of the Lingang International Reinsurance Functional Zone; The second is to make full use of the industry′s resource integration capabilities to seek greater breakthroughs in the fields of science and technology finance and green finance.
Moving forward, AXA Tianping will continue to leverage its professional advantages in insurance protection and risk management, fulfill its corporate responsibilities and commitment to the Chinese market, serve the development of the real economy, and maintain financial and social stability. With the support of a series of supporting policies in Lingang New Area, AXA Tianping will increase its efforts in innovation and development, and continue to invest in business expansion, technology and system construction, product and solution design, as well as the establishment of a professional team, to facilitate the rapid launch of its business and make greater contributions to the prosperity and development of Lingang New Area.
At this critical moment when the world is facing unprecedented changes, the harmonious and stable relationship between China and France, as two representatives of excellent civilizations in the East and the West, is particularly precious. This year marks the 25th anniversary of AXA′s establishment in China. AXA Tianping will unswervingly serve as an ambassador of Sino-French cultural exchange, strive to be a builder of a financial power, and take the lead in high-level financial openness, contributing our part to promoting Sino-French relations to new heights.
Looking ahead after six decades of China-France friendship
on January 27, 2024, we celebrated the 60th anniversary of diplomatic relations between France and the People′s Republic of China. This year, AXA, as a global leader in insurance with French roots, also celebrates the 25 years of its presence in the Chinese market.
Since the determination of our two countries six decades ago to strengthen their ties and cooperation, the world has significantly evolved. As risk management is at the heart of AXA′s concerns and expertise as an insurer, we have been keen to use our expertise to the benefit economic development and the broad ambitions of China and France in their economic cooperation. We share the common objective to understand the new risks our societies are facing and to reinforce protection against them. I am obviously thinking of climate change.
AXA has been operating in China for more than 25 years and wishes to make use of the tools at its disposal to deploy innovative and high-quality service offerings for the Chinese population and businesses in line with our mission to act for human progress by protecting what matters.
Thus, with a global and mature vision, AXA wishes to represent a unique model of establishment in the Chinese market. Thanks to our long-term commitment strategy and the presence in all the business lines with ICBC-AXA Life, AXA-Tianping P&C, AXA SPDB and AXA XL, supported by our global expertise and resources, we can provide the population with property and casualty, life, health, protection and pension insurance, as well as assets and wealth management, and contribute to the development of the Chinese market.
Insurance is focused on anticipating and mitigating future risks in order to protect populations in the best possible way. In the context of the 60th anniversary of diplomatic relations between France and the People′s Republic of China, AXA looks forward to using its global experience and deep expertise to contribute to the next phase of China′s economic development.
