Asian News - Asia: AXA targets 100 mln customers by 2030
Source: Asia Insurance Review | Jul 2015
Asia is and will be, for the coming years, one of the key growth engines for the group, said Mr Jean-Louis Laurent Josi, Regional CEO of AXA Asia. “In Asia there are many opportunities. We want to leverage these opportunities to protect the people in Asia, and to support social and economic growth here.” Based on that, AXA’s ambition is service 100 million customers in Asia by 2030, he said at a press briefing attended by Asia Insurance Review in Shanghai.
“We service 14 million customers in the region today. Our objective by 2030 is to move from 14 million customers to 100 million customers to be served here in Asia. To put it in perspective, the group now serves 103 million customers. The objective is that in the coming 15 years, AXA Asia will attract and retain the same number of customers,” he said.
Currently, Asia accounts for 15% of the group’s life new business sales and 5% of its P&C revenues. Asia is a key growth engine for the group as it accounts for 39% and 33%, of the group’s life and P&C growth, respectively. This is expected to continue as the long-term trends and growth opportunities are positive in the region.
To achieve its objective and growth, digital will be one of the areas of focus as Asia is at the forefront of the digital evolution, he said.
On this front, the group announced that it is accelerating its investment in Asia to further its innovation capabilities. It is setting up “AXA Lab Asia” in Shanghai which will detect emerging trends and work with the most forward-thinking companies; it will also establish a “Data Innovation Lab” in Singapore which will act as a business-focussed centre of expertise on data analytics with the goal of offering customers the products and services they want and need. The company will also set up an office of “AXA Strategic Ventures” in Hong Kong to seize the numerous investment opportunities in the region and to accompany European and American start-ups in the Asian market.