The AXA Group accelerates its investments in Asia to further its innovation capabilities
- Setting up of an "AXA Lab Asia" in Shanghai
- Establishment of a "Data Innovation Lab" in Singapore
- Installation of an office of "AXA Strategic Ventures" in Hong Kong
Today, AXA announces the creation of three new structures dedicated to investment and innovation in Asia to better connect the Group to the region's rapidly developing entrepreneurs, talents and new business models. These structures will complement the existing presence of AXA Group in Europe and North America, with the very same objective: to improve customer experience, through partnerships, pilots and investments.
The "AXA Lab Asia" in Shanghai
AXA Group has decided to set up an "AXA Lab Asia" in Shanghai, on the model of the structure present in Silicon Valley in the U.S. since the beginning of 2014. It will be led by Frank Desvignes.
We wish to enhance the digital culture and further the spirit of innovation across the Group, by forming partnerships with the most forward-thinking companies. AXA Lab Asia will also spot emerging trends that can be leveraged for the benefit of our clients, as well as identify new talents.
The "Data Innovation Lab" in Singapore
AXA will establish a "Data Innovation Lab" in Singapore, on the model of the one already created in France. It will act as a business-focused center of expertise on data analytics to foster Research & Development for our offerings and services.
The data revolution has a profound impact on the way insurers do business. New technologies for data storage and analysis now make it possible to process volumes of data previously too large to analyze. The ultimate goal is to be able to offer customers the products and services they want and need, while upholding values of ethics and integrity, and protecting their personal privacy.
An office of "AXA Strategic Ventures" (AXA SV) in Hong Kong
Finally, a new office of AXA Strategic Ventures (AXA SV) will be established in Hong Kong, to put us in the best position to seize the numerous investment opportunities in the region, and to accompany European and American startups in to the Asian market. In February 2015, the Group announced the creation of a €200 million venture capital fund, "AXA Strategic Ventures" (AXA SV), dedicated to investing AXA Group money in budding strategic innovations in the insurance, asset management, financial technology and healthcare service industries.
Led by François Robinet, AXA SV is already present in San Francisco, New York, London, Paris, Zurich and Berlin.
AXA Strategic Ventures now has a genuinely global reach. The establishment of this new office in Hong Kong will not only allow us to take advantage of the possibilities offered by the region, but will also allow us to guide startups we support in their quest for international expansion into one of the world's most dynamic markets.
Asia is a major strategic focus for the AXA Group, and our ambition is to have 100 million clients in the region by 2030. We are already very present from a business standpoint and we are now looking to seize the opportunities offered by the region. This is why we are announcing today a series of initiatives in Shanghai, Singapore and Hong Kong. We are confident that these new structures will prove decisive in identifying untapped opportunities to accelerate our digital transformation and ultimately better serve and protect our clients.