AXA and AWS team up to develop secure risk management platform

Devdiscourse News Desk | California | Updated: 04-04-2024 22:32 IST | Created: 04-04-2024 22:32 IST
AXA and AWS team up to develop secure risk management platform
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Amazon Web Services (AWS) and AXA have announced plans to jointly develop and build the AXA Digital Commercial Platform (DCP) and associated software services that help organizations assess risk, limit exposure, and mitigate loss.

By combining industry, business, and environmental data with geospatial analytics and gen AI technologies, the secure risk management platform helps clients globally monitor their assets and navigate complex and interconnected risks, including natural disasters, supply chain disruption and cyber threats.

Over the next two years, AXA will leverage AWS analytics capabilities to make available numerous services for existing clients and millions of AWS global clients via the AWS Marketplace and the AWS Data Exchange.

To deliver DCP, AXA will use Amazon Bedrock, a service that allows you to build and scale generative AI applications with foundation models, to provide corporate clients with real-time data and analytics including extensive historical data sets to identify and assess factors that could disrupt operations or impact reputation, safety, security, or financial performance.

"Amazon brings the depth of experience and broad portfolio of services we need to provide clients with world-class capabilities to help manage their risks. AXA’s work with AWS is integral to our business transformation, which includes the evolution of traditional insurance to risk prevention and mitigation. This will help us seize new market opportunities faster, strengthen security, and become even more responsive to clients’ needs," said Alexander Vollert, Group Chief Operating Officer, Chief Executive Officer, AXA Group Operations.

Commenting on this partnership, Kathrin Renz, vice president of AWS Industries, said, "AXA is a customer-focused business, and we are excited to collaborate with them to develop new business models, using AWS capabilities, that will help companies around the world operate with greater confidence. AWS will help AXA support its business clients, creating secure, compliant new services and capabilities fueled by advanced technologies like generative AI. Amazon’s experience in building, operating, and scaling marketplaces will also help AXA tap into innovation from companies beyond the financial services industry, offering more ways to plan for uncertainty."

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