Whatever their stage of life, we provide over 108 million customers with the products and services they need to progress. From insurance to personal protection, and savings to wealth management, no matter the need we’re always there for them. And we’re always there for our employees. In 50 countries, we work hard to inspire pride and a sense of belonging in our people. To provide opportunities that challenge them, inspire them, and reward them. And to create a culture that’s open, supportive, and empowering. Because we know that’s the real secret to success – and the best way for us to keep building a better world for both our customers and the talented people who put them first.

Your work environment:

The headquarters of the AXA Group (GIE AXA) brings together our corporate activities. It provides guidance and support to subsidiaries around the world, to ensure the coordination and monitoring of the Group's global strategy, the application of its standards, the consistency of commercial approaches and the sharing of best practices. The headquarters gathers approximately 1000 employees and is distinguished by its strong international culture (45 nationalities), which makes it a rich and stimulating place to work.

Within the Group, you will join the Group Underwriting Office department (GUO)

The newly created Global Chief Underwriting Office is accountable for establishing, enabling and driving profit and growth through Product Underwriting Strategy, Portfolio Design and Technical Underwriting Excellence in partnership with the AXA Entities, for both Commercial and Retail, through:

• Portfolio Design Steering
• Underwriting Product Strategy and Profitability Measurement
• Technical Underwriting Guidance
• Pricing Models, Platforms and Analytics
• Risk Appetite deployment
• Ceded Reinsurance strategy design and purchasing

Within this Department, you will be part of the team P&C Retail Underwriting.

Your job and daily missions:

JOB PURPOSE

The purpose of the P&C Retail Operations Underwriting Expert is on operational aspects of underwriting within retail operations :

• Taking ownership of operational underwriting activities within retail entities and ensuring adherence to underwriting guidelines and best practices.
• Engaging with entities to streamline operational underwriting processes and requests, promoting strong alignment between central functions to enhance efficiency.
• Supporting entities in implementing high granularity reports and operational underwriting procedures as part of portfolio performance review, leveraging existing performance tools.
• Monitoring and steering portfolio profitability according to the entities’ operational needs, with a focus on operational underwriting performance metrics.
• Improving discount management and sales steering at the operational level, including adding dimensions related to customers and intermediaries to enhance operational underwriting effectiveness.
• Reducing underwriting leakage and deploying distribution coverage analysis at the operational level, focusing on operational underwriting improvements.
• Implementing state-of-the-art operational underwriting approaches and models with a commercial view embedded in the pricing strategy, enabling fast feedback loops from the market.
• Utilizing internal and external data, including innovative technologies, for operational underwriting purposes within retail operations.

DIMENSIONS

Main Figures:

• 20+ countries / entities as well as 3 regional hubs (EM, AMIH and AMO).
• €49bn of revenues in scope (49% of the whole AXA Group revenue):
  • €17bn of revenues in P&C Retail & Partnerships.
  • €32bn of revenues in P&C Commercial & Partnerships
• 70+ requests for Underwriting non-authorized business per year, representing GWP ~€2bn.

CONTEXT AND MAJOR CHALLENGES

The P&C Retail business is a core pillar of the Group in terms of both Underlying Earnings (>33% of total) and customer base (20m+). Although each market AXA operates in has its own dynamics, regulations and challenges, the fundamental requirements and propositions for the retail business are similar, covering at large motor, home and travel insurance.

As of today, Motor insurance remains the ‘anchor’ product of the industry. In the mid-term, along potential further commoditization or technology advancements (i.e. electric vehicles, autonomous cars, …), the private Motor market is assumed to get materially smaller (and potentially less profitable).

Moreover, the customer experience is still overly complex and P&C insurers struggle to build long-term and relevant customer relationships, driven by 1) low frequency of interaction, 2) a lack of differentiation, 3) increasing commoditization and 4) increasing price pressure. Thus, a large portion of the P&C Retail business stands at a strategic crossroad, intensified by changing supply and demand side trends which drive the integration of existing value chains to solve specific customer problems, giving rise to ecosystems.

In addition to all this, a lot of additional external challenges are impacting the profitability level of this business segment: claims inflation in first place, climate changes development and customer behaviour modification.

KEY ACCOUNTABILITIES

As an Operational Underwriting Expert for P&C Retail, your main responsibility is to ensure the technical excellence of retail underwriting with entities worldwide, supporting their growth and profitability. This includes actively engaging with monthly KPIs to steer, challenge, and support entities in detecting potential deviations from budget. Your key activities will involve:

• Implementing a state-of-the-art underwriting approach and model
• Participating in In-Depth Reviews (IDR) & Technical Reviews (TR) within your scope of responsibilities
• Providing high granularity reports for portfolio performance review, leveraging existing performance tools
• Launching profit or premium recovery programs based on monitoring results
• Monitoring and steering portfolio profitability
• Improving discount management and sales steering at the entity level
• Reducing underwriting leakage
• Utilizing internal and external data, including innovative technologies, and analyzing and interpreting data from different entities to support specific actions
• Working closely with cross-functional teams to develop a good understanding of cycle management

Vous rejoignez une entreprise :

-    Responsable, vis-à-vis des personnes, y compris ses employés et ses clients, et de la planète. -    Aux valeurs fortes-    Qui encourage la mobilité interne, et la formation de ses employés-    Qui vous offre de nombreux avantages (en savoir plus ici : Reward & Benefits - french | AXA Group)-    Flexible, qui permet le travail hybride, au bureau et à la maison.

Les informations fournies par les candidat(e)s seront traitées de manière strictement confidentielle et utilisées uniquement à des fins de recrutement.

MAIN COMPETENCIES AND EXPERIENCES

In terms of your competencies and experiences, you should have a good understanding of underwriting cycles and related topics, including knowledge of tariff calculations, technical pricing, discounting rules, and risk appetite definition. You should also have experience in customer and distributor steering.

The ideal candidate for this role should have around 5 years of underwriting experience in retail lines of business, with a general knowledge of retail lines insurance products and client segments. Additionally, experience in reinsurance, project management, and working in complex environments is a plus. Soft skills required for this role structured argumentation to sell ideas, high-level presentation skills in front of senior management, agility to work in a multifaceted P&C world, a customer-minded approach, and good negotiation skills.

DECISION BODIES AND COMMITTEES

• Group Lob committees:
  • Provide expertise on Group referrals
  • Support the Underwriting community fostering profitable growth and technical excellence
• P&C Retail committee:
  • Support AXA transformation strategies setup
  • Support entities in their transformation journey