AXA Insurance Company and Maptycs Announce Risk Management Insurtech PartnershipOnboarding of Maptycs’ risk management software latest addition to global insurer’s toolkit for mitigation of portfolio catastrophe risk
NEW YORK— May 15, 2018 AXA Insurance Company (AIC), US commercial Property & Casualty insurer, part of Paris-headquartered AXA, announces the integration of Mapytcs, a provider of enterprise risk management software, into its continuous efforts to provide the most efficient research and products.
The Maptycs software collects real-time geographic data on potential hazards such as earthquakes, fires, and flooding, and plots this information side by side with data feeds from government sources such as FEMA, the National Earthquake Information Center, and the National Weather Service. By zeroing on the information that stands to have a direct impact on its clientele, which spans the property and casualty, aviation, construction, and marine segments, AIC can leverage this technology to provide laser-focused, cost-effective solutions.
“As a global leader in commercial risk coverage, AXA Insurance Company (AIC) is a natural partner for Maptycs’s platform,” said Ernest Legrand, CEO of Maptycs. “Our risk exposure platform will give AIC the capability to gain actionable data that will empower the company to continue to provide optimum products. Furthermore, I have deep respect for [CEO] Dawn Miller’s leadership and her vision for AIC.”
In addition to the data analytics functions, Maptycs includes a visualization tool, allowing AIC to take a top-down, spatial view of aggregate risks in natural catastrophe zones. The product also allows AIC to keep its risk data in a centralized location, allowing for easy access and report generation.
“Maptycs has given us a lens on our business and on the potential challenges facing our lines,” says Dawn Miller, CEO and president of AIC. “The live data feeds and map functions provided by the software have let us rapidly advise our partners and clients and helped us to mitigate our catastrophe risk.”
AXA Insurance Company has already put Maptycs technology into action when assessing exposure to natural hazards. “Maptycs was a critical tool for AIC in monitoring our exposures during the highly active 2017 hurricane season,” says Joseph Brancale, risk manager at AIC. “It was important for all of AIC’s key stakeholders to be aware of which locations had been projected to be damaged by the storms’ strong forces.”
Bolstered workflow productivity and facilitated claims data aggregation are also among the benefits that AIC has noted following the adoption of Maptycs’ software.
About AXA Insurance Company
Our purpose at AXA is to protect people and businesses so they can pursue their lives and ventures with peace of mind. AXA Insurance Company (AIC), domiciled in New York, serves large and mid-sized companies across the U.S. As a part of AXA’s international network, AIC provides Property, Casualty and Specialty insurance solutions to multinational and domestic companies. In a rapidly changing world, we are committed to providing prevention and response solutions for customers so they can face US risks and exposures head on.
Maptycs is an insurtech company that targets the property and casualty space, offering a powerful and easy to use risk analytics solution to insurance and risk management professionals. By combining external data with client portfolio data, the Maptycs solution aims to deliver relevant insights that lower a company’s total cost of risk. The innovative user interface and proprietary technology facilitate smarter risk management decision making and empower professionals with the ability to quickly assess exposure and quantify potential losses in more timely and accurate ways. For more information about how Maptycs is driving innovation in the risk management space, visit maptycs.com.
SOURCE: AXA Insurance Company
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