Reinsurance News

AXA XL launches IoT solution to monitor building health

25th September 2020 - Author: Charlie Wood

AXA XL, the property & casualty and specialty risk division of AXA, is accelerating the scaling of its new Digital Risk Engineer proposition designed to allow a company to monitor the “health” of its buildings and assets.

axa-logoDigital Risk Engineer will be available globally and uses Internet of Things (IoT) devices installed in clients’ buildings to capture information from connected systems such as energy, water, heating, ventilation and air conditioning.

The information is then analysed to detect anomalies in the building, allowing for early intervention and subsequent minimal interruption when maintenance is needed.

AXA Xl says the data and insights are accessible to the client and AXA XL’s risk consultants via an online dashboard.

In addition to the installation of the device and the access to the dashboard, AXA XL offers clients a “building health check” after 90 days.

“Digital Risk Engineer combines decades of experience in property risk engineering with some of the latest IoT innovations,” said Jonathan Salter, recently announced Head of Risk Consulting at AXA XL.

“This fully digital offering is especially relevant today as we grapple, as a society, with the impacts of COVID-19, and the likelihood that companies will try to limit in-person site visits where possible.”

Hélène Stanway, Digital Leader at AXA XL, added, “We have seen that supplementing risk consulting with continual autonomous monitoring can make a real difference for our clients.

The use of the technology can limit the risk of an incident occurring in the first place and, where it does, limit the severity. Also, early detection can reduce the associated business interruption impacts.”

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