AXA BRAIN Library

A good CEO is not a micromanager but a 'Chief Excitement Officer' or 'Engagement Officer'

— CEO of AXA

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All about AXA

people ▸  |  leading figures ▸ Claude Bébéar Henri de Castrie Thomas Buberl  |  management committee ▸ George Stansfield Guillaume Borie Patrick Cohen see all ▸  |  partners group ▸ Etienne Bouas Laurent Renaud Guidée Tara Foley see all ▸  | 

regions ▸  |  europe ▸ France Germany Switzerland Luxembourg Italy Spain UK Ireland Turkey  |  axa xl ▸ XL Bermuda XL Reinsurance XL America see all ▸  |  asia ▸ Japan Hong Kong China Indonesia Thailand Philippines South Korea  |  latin america ▸ Brazil Colombia Mexico  |  transversals ▸ AXA Partners AXA GO  | 

Library / Insurance 101

fundamentals ▸  |  risk basics ▸Frequency vs severity Hazard, exposure, peril, loss Correlation and aggregation |  how insurance works ▸Pooling and risk transfer Indemnity vs benefits Premium now, claims later |  incentives & frictions ▸Adverse selection Moral hazard Information asymmetry |  industry structure ▸Insurers, mutuals, captives Brokers, MGAs, TPAs Reinsurers and retro |  policy essentials ▸Insurable interest, good faith Coverage, exclusions, conditions Limits and deductibles |  core metrics ▸Loss/expense/combined ratio Persistency and lapse Acquisition economics |  time value ▸Discounting Trend and social inflation Duration risk |  cat & systemic ▸Nat cat accumulation Pandemic risk Cyber contagion |  role & trust ▸Protection and resilience Fairness and inclusion Conduct and transparency

products ▸  |  life ▸Term, whole, UL Mortality and lapse Riders |  health ▸Medical vs income protection Group vs individual Utilization levers |  annuities ▸Immediate vs deferred Guarantees Longevity risk |  group benefits ▸Plan design Experience rating Renewals |  personal lines ▸Motor and home Rating factors Claims inflation |  commercial lines ▸Property and liability Limits and towers Risk engineering |  specialty ▸Marine/aviation/energy Financial lines Parametric |  u/w governance ▸Appetite and authority Quote to bind Portfolio steering |  lifecycle ▸Design and pricing Wording and filings Monitoring and remediation |  policy admin ▸Issuance and endorsements Billing Retention

distribution & ops ▸  |  channels ▸Agent/broker/bank Direct and digital Embedded and partners |  sales & advice ▸Needs and suitability Tools and disclosures Conversion levers |  intermediary econ ▸Commissions and clawbacks Conflicts control Delegated authority |  onboarding ▸KYC/AML basics Fraud screening Consent and privacy |  u/w ops ▸STP vs manual Evidence management QA and audits |  claims ops ▸FNOL and triage Settlement and leakage Litigation and recovery |  fraud mgmt ▸Detection and SIU Provider fraud Recoveries |  service model ▸Shared services Outsourcing risk SLAs and outcomes |  tech & data ▸PAS/claims/billing CRM and omni-channel Platforms and APIs |  productivity ▸Cost-to-serve Automation Ops KPIs

finance & actuarial ▸  |  pricing ▸Expected loss and margin Credibility Price adequacy |  reserving ▸Case vs IBNR Triangles and diagnostics Reserve risk |  life liabilities ▸Assumptions and margins Options and behavior New business strain |  reinsurance ▸Proportional vs non-prop Retentions and limits Credit and collateral |  alm ▸Portfolio basics Duration and liquidity Credit risk |  performance ▸Underwriting result Operating vs net income Key ratios |  accounting ▸IFRS 17 IFRS 9 Statutory bases |  solvency ▸Available vs required Economic capital Stress tests |  steering ▸Growth vs value Re-pricing actions Scenario planning |  model gov ▸Assumption control Validation Data governance

regulation & gov ▸  |  purpose ▸Protection Stability Integrity |  prudential ▸Solvency II / RBC ORSA Supervisory reporting |  conduct ▸Product governance Claims standards Fair value |  supervision ▸Entity structures Intra-group flows Recovery and resolution |  model ▸Board oversight Three lines Internal audit |  compliance ▸AML/CTF Sanctions Third-party risk |  tax ▸Premium taxes Deferred tax Cross-border issues |  esg ▸Underwriting and investment Disclosures Transition risk |  resilience ▸Cyber security Operational resilience Data privacy |  emerging ▸Cyber and systemic Insurtech and embedded Alternative capital