AXA leads innovation in auto insurance
By Kim Jae-won
Francois Lecomte AXA General Insurance CEO
AXA General Insurance President and CEO Francois Lecomte said that the local unit of the France-based global insurer leads innovation in Korea’s auto insurance market by offering customized services using the nation’s advanced information technology.
Lecomte took two examples ― charging different premiums by drivers’ mileage and providing information on car repairs through policyholders’ mobile devices.
“What we launched in the Korean market in 2011 was the mileage project. The objective was to give to all customers who drive less than 10,000 kilometers, or even 5,000 kilometers discounts. Why? Because customers that drive less should pay lower premiums,” said Lecomte in an interview with The Korea Times earlier this month.
He said it was a big innovation in the market which its competitors followed. The company has led the mileage segment for four years since then.
The Belgian-born businessman said the project was important because it focused on drivers, not cars, turning its eyes to customers. He said the company also seeks to meet a wide range of needs from customers by their age, gender and number of children.
Lecomte said the latest innovation of AXA General Insurance was an e-tracking system which the company introduced last year. With the system policyholders can check out how their cars are being repaired through smartphones, tablets and PCs.
“They do not need to go to a repair shop. They can look on the web at the latest pictures of their car,” said the CEO.
AXA’s innovation drive is not done yet. He said the company is preparing several more innovative projects which will be announced in six months, but declined to elaborate, saying it was too early to do so.
The father of three said road safety was as important as the company’s innovation projects and that is why the insurer is educating youngsters on the topic as part of its corporate social responsibility program. The company distributes clear umbrellas to children, helping them recognize cars as well as getting drivers to acknowledge them quickly on rainy days.
And finally he talked about the company’s employees whom he described as its “ambassadors.” Lecomte said he pays a lot of attention to employees because they serve customers. He recently completed a two-month trip to 18 provincial offices of the company, meeting all 1,130 employees face to face.
“They wanted to know about the strategy of the company in the coming years. They also wanted to know about me personally. And I even showed them pictures of where I have been working and my personal life. I really opened myself.”
He said he exchanged ideas with them on the company’s products, quality of service, and corporate social responsibility. With the meeting he learned that some employees visit orphans in their neighborhood regularly and teach them about road safety.
The businessman was confident of the company’s auto insurance policies, and concluded the one-hour interview by asking this reporter to buy its policy. “So, when do you want to change your policy?”