In 2013, AXA was the third-largest competitor in the UK general insurance personal lines market. It is part of the global AXA Group, which has a presence in 56 countries. This profile reviews AXAs business structure in the UK, as well as analyzing its recent financial performance and offering a detailed SWOT analysis.
Understand AXAs strategy within the UK insurance market and how it is utilizing a multi-brand, -segment, and -channel approach to remain competitive.
Gain insight into AXA's strengths, weaknesses, opportunities, and threats going forward.
What is AXAs strategic approach to the UK insurance market?
What are AXAs strengths and weaknesses?
What opportunities and threats are the insurer facing?
AXA has established numerous partnerships in the UK, strengthening its insurance proposition and client reach. Some of its key partners include Marks & Spencer Home and Travel Insurance, British Gas Home Insurance, TUI Travel Insurance, and Lloyds Travel Insurance.
The group is aiming to expand into high-growth markets going forward. To support growth in mature markets such as the UK, AXA is expected to improve its combined operating ratio and realize cost savings.
Advertising spending for the AXA brand was 4.6m in 2013. Of this budget, almost 2.7m was used to fund television campaigns; however, AXA has employed a range of other media including press, radio, cinema, and the internet.