04 Executive Summary
Key Insights from your 2024 Survey include:
Peer Group Ranking
Overall Ranking (from 29 Markets)
Overall NPS Score (vs Average of -5)
A top 5 position overall in 11 of the 34 Lockton Business Units relevant to AXA XL
What is going well?
Financial & Political Risks - AXA XL's line size is better than other insurers, and they provide quick detailed feedback.
Energy Liability - The London underwriters are extremely knowledgeable and responsive. It is enjoyable working with AXA XL.
Upstream Energy - They are very responsive and detailed in their approach, and have large capacity.
Construction Investments - They take a pro-active approach and are the best at underwriter communication.
Global Real Estate - They are good at building relationships.
UK Construction - They are a supportive market on major projects and their line size is good.
Belfast - They have good turnaround times on communication, as well as breadth of cover.
Birmingham - Their communication is good, they provide assistance when needed and often go the extra mile.
Commercial Wholesale - They have a wider appetite for global risk and their communication is great.
London Retail - They strive to have flexibility regarding pricing, wording, appetite etc. Also, their responsiveness to existing client issues, renewals and new business proposals is all great.
Manchester Corporate - They provide a good depth of expertise in specialist classes and have a commercial mindset.
Newcastle - They have good technical knowledge.
Accident & Health - They are able to communicate their terms and understand our clients’ needs.
Bermuda - They are able to demonstrate long standing loyalty to clients and write soft classes of business on high excess layers at good pricing.
Casualty NA - They take a professional approach, hold great expertise and are good at communication.
Casualty ROW - They have broad ability, are a market leader and big line sizes.
Crisis Management - Their claims service is consistently good. They are recognised as one of the market leaders.
Property NA - They have good box availability, their relationship with the brokers is great, and their service levels are excellent.
Property ROW - They take a lead position and actively help us win business. They are consistent, provide competitive options and are willing to discuss.
National PI Misc / Recruitment - They meet client's requirements and are flexible on coverage.
National PI Regulatory - They provide detailed Quote Schedules.
Professions PI Healthcare - They are able to cover niche areas within Healthcare.
Aviation - They engage early with clients.
Marine Cargo - Pricing and coverage on SME business is a strongpoint for AXA XL.
Marine Hull - They are organised and clear with their quoting.
Specie & Fine Art - Their capacity and willingness to use it is commendable.
Areas for Improvement for AXA XL?
Financial & Political Risks - It would be good to have appetite to do larger lines.
Energy Liability - They should write more onshore occurrence and expand US appetite.
Onshore Construction - They should provide more capacity.
Power & Renewables - They should be prepared to quote more new business.
Upstream Energy - They need to consider smaller risk opportunities.
Construction Investments - AXA XL should loosen their stance on DSU SI to ECV ratio.
Global Real Estate - Flexibility could be improved.
UK Construction - They need to increase their involvement as potential lead for Construction projects.
Belfast - Administration is a slow turnaround and they need to provide a wider offering.
Dublin - They need to overhaul the process regarding issuing documentation, improve engagement and respond quicker.
Birmingham - They need to be more visible in the Regions.
Commercial Wholesale - Appetite information needs improving.
London Retail - Wider scope of mid-products would be beneficial.
Manchester Corporate - They need to be more streamlined with AXA when working with them on package deals.
Newcastle - Their service levels need improving.
Accident & Health - Their timelines with having new wordings, products and clients approved by their compliance and delegated underwriting teams could be better.
Bermuda - The morale at AXA XL Bermuda seems low. They have cut back on a number of our excess placements; we need better communication from them.
Casualty NA - They need to provide an indication on pricing, rather than just declining.
Casualty ROW - Regularity of catchups needs improving.
Crisis Management - Their response times on PPL needs improving.
Property NA - They need to expand their appetite.
Property ROW - It would be good to see greater headcount in the property team.
National PI Misc / Recruitment - It would be good if they were more pro-active in targeting new business.
Professions PI Construction & Property - It would be good to have a better relationship with the underwriting team.
Aviation - Greater flexibility would be appreciated.
Marine Cargo - It would be good for AXA XL to get back into the International Freight market. Sometimes, their responses can be a little slower than other markets.
Marine Hull – They need to improve their availability at the box and be more competitive with their pricing.
Specie & Fine Art - Their turnaround times and availability of decision makers are two areas to develop.
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
