AXA XL’s North America Construction insurance business is set to launch an integrated digital platform that monitors and aggregates data to help contractor clients manage risks.
The Construction Ecosystem will be made available to a number of current customers from June, with wider access planned for later in 2020.
AXA XL claims the platform will provide contractors with access to a wide range of information, including industry benchmarking, auto and casualty claims comparison, and forecasted weather risks and historical weather data.
Additional features include project specific analytics, integrated data from third-party technology, and a tech library that will assist clients with identifying services that improve job-site performance and safety.
“The construction industry may have a reputation of being slow to adapt to technology, but that’s about to change,” said Gary Kaplan, president of AXA XL’s North America Construction business.
“In today’s highly-competitive construction market, contractors are busy, having little time or money to vet new technologies to make sure they are right for their operations. That’s why we set out to help,” Kaplan continued.
“In creating the Construction Ecosystem, we have pulled together curated technologies that we believe will have potentially significant risk-reducing impact for the investment and to help our clients more effectively protect their people, projects and profitability so they can successfully build and rebuild North America.”
Joe Tocco, Chief Executive, North America Insurance for AXA XL, also commented: “Insurance has always relied on data to make our underwriting decisions. It’s key to predicting and preventing.”
“This information is valuable to our clients too. As part of our Payer to Partner strategy, we’re constantly exploring how we can share more of the right information to help our clients’ loss prevention efforts, and to help our clients solve business problems,” Tocco added.
“Our Construction Ecosystem allows us and our clients to collect, share and act on more information than we’ve ever had before.”
Justin Gress, AXA XL’s Director of Strategic Operations, further stated: “With the help of our construction clients, we have compiled technologies that we believe may have the most impact on their risk management efforts and bottom line.”
“We’ve also connected these technologies together to create a digital environment where clients can see their information all in one spot providing a risk dashboard, benchmarking capabilities, access to claims information and more.”
AXA XL’s Construction Ecosystem incorporates collective information and data from several industry and technology partners including Sedgwick, Athenium Analytics, SmartVid.io, Pillar Technologies, Triax, OnSite IQ, WINT (Water Intelligence).