AXA Global Re, a wholly-owned subsidiary of the AXA Group, centralizes the Group’s reinsurance business in property-casualty, life and health insurance.
As part of its duties, AXA Global Re consolidates the reinsurance accounts of more than 60 entities, which then constitute the basis for calls for funds and financial flows issued between the AXA Group and reinsurance companies.
These processes involve AXA Global Re and entities with heterogeneous systems and habits, as well as external partners (reinsurers and brokers). This complex process could not be optimized using an approach based on a standardized data format.
The teams identified several focus areas:
The ambition is to improve key indicators for AXA Global Re and all its partners:
The solution takes the opposite stance compared to large transformation projects that require unwieldy standardization of data structures, and favors on the contrary a pragmatic and collaborative approach.
The solution is used as a collaborative and trusted space, where AXA Global Re and Cedent entities can exchange and validate financial information.
We share Stratumn’s vision that relationships between partners should create value, not friction.
Véronique Rhode CIO, AXA GLOBAL RE
Overall, operational efficiency will be measured in a way that is effective, transparent and shared:
The process is monitored and automated from end to end. All parties have a comprehensive understanding; they will know at every moment what is expected and in what time frame.
Relationships and understanding are improved and the proofs are irrefutable.
The solution will have a positive impact on payment terms and therefore customer satisfaction (in this case, the entities): Error signals or sticking points will be identified by the entities and AXA Global Re. They can be processed more quickly. The entities will be able to compensate their policyholders more quickly.
At every level, reliable real-time indicators will be available: the CFO will have a process dashboard, managers will get levers to steer business activities, and operational staff will have a clear idea of what remains to be done and what the priorities are.
Caroline Portel CIO, AXA GLOBAL RE