AXA PH outperforms peers among top 5 life insurers in 2018

• AXA’s bancassurance sales bounces back to number 1 with P20.9 billion in total premium income
• AXA’s agency sales, meanwhile, registered the highest TPI growth at 23%
• AXA retained its standing as one of the leading insurance companies in the Philippines

AXA Philippines, one of the leading insurers in the country, displayed robust growth in 2018 – outperforming its peers among the top five players in the industry; and registering faster growth in key contributors to total premium income (TPI) versus industry, according to the 2018 rankings released by the Insurance Commission recently.

The top five life insurance companies in the country – including AXA Philippines – through their consolidated performance across various entities contributed 57% of the TPI generated by the industry in 2018.

AXA’s bancassurance sales bounced back to number 1, dominating the industry with P20.9 billion in TPI, growing 9% in the past year.

AXA’s agency sales, meanwhile, registered the highest TPI growth at 23%, for the second year in a row, making it the fastest-growing agency among its closest competitors.

As a result, AXA retained its standing as one of the leading insurance companies in the country.

“Our remarkable growth and sustained market leadership in key segments inspire us to deliver better products and services for our customers,” said AXA Philippines president and CEO Rahul Hora. “These rankings affirm that we are taking the right direction in leveraging on technology to make insurance more accessible to more people, and focusing on delivering products based on what our customers need,” he added.

AXA attributes its remarkable 2018 accomplishment to the consistent performance of its distribution channels, both bancassurance and agency sales, which received a boost in the opening of seven new agency branches in strategic locations in La Union, Greenhills, Fairview, Vigan, Daet, Malolos and Marikina, bringing its agency network to over 40 branches, housing more than 5,000 exclusive agents. For bancassurance, AXA’s Advisory Corners can now be seen in all 707 Metrobank and 250 PSBank branches nationwide with a little over 1,000 financial executives.

AXA also fortified its health portfolio with best-in-class add-on services such as a teleconsultation feature for new and existing health plan customers, giving them access to doctor consultations via phone anytime, anywhere. More reinforcements to its health portfolio are expected in the near future.

AXA in 2018 also unveiled its new and improved proposition: that with the full integration of its general insurance arm Charter Ping An, AXA has become a one-stop insurance shop for its clients, offering not just life insurance, health plans, and savings & investments products, but also general insurance products like car and home insurance.

In October, the AXA Service Center opened in Wellington, Binondo—the first branch that can manage both life and general insurance policy transactions under one roof.

AXA also launched its newest product offering: Asset Master, which allows investors to build a lasting financial legacy for their loved ones by accessing a wide range of investment opportunities in different markets across the globe.

Staying firm in its commitment towards innovation to better serve its customers, AXA launched the e-Policy, an electronic policy feature that allows clients to access a copy of their insurance policies anytime and anywhere online on any device via MyAXA App.