• AXA revamps Motor Trade SME offering

    September 15th 2017. Posted in Corporate

    AXA Insurance has revamped its motor trade SME product by introducing a range of new policy elements including no claims bonus protection.

    • Policyholders now have the option to protect their no claims bonus.
    • Hotel expenses and alternative transport cover now included in the event of a loss.
    • The revamped policy also includes cover for misfuelling and leased vehicles.

    AXA Insurance has revamped its motor trade SME product by introducing a range of new policy elements including no claims bonus protection.

    As part of the changes, SME motor traders can also get cover for misfuelling, including fuel removal and replacement and subsequent damage repair, as well as hotel expenses and alternative transport if your vehicle in is no longer roadworthy following an accident and you can’t complete your journey.

    In addition, the policy includes cover for leased vehicles, which covers the difference between the insured value and the contract settlement figure if the vehicle is written off.

    The move is part of AXA’s push to improve its offering for the SME market by creating policies that are easier to understand and tailored to the policyholders’ specific needs.

    “Around 90% of the motor trade sector businesses are SMEs and it is our duty to provide these entrepreneurs with the insurance they need to focus on their day to day business.

    “With nearly 50 years providing a dedicated motor trade product, we understand motor trade SME businesses and listen carefully to what our customers – and our brokers - need. The changes to our SME motor trade product reflect that.”  Marc Johnson-Hall, motor trade product manager, AXA UK

    The revamp of AXA’s Motor Trade SME product comes after changes to its mid-market manufacturing policy in June and its e-trade landlords’ product in April.

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    About AXA

    The AXA Group is a worldwide leader in insurance and asset management, with 166,000 employees serving 107 million clients in 64 countries. In 2016, IFRS revenues amounted to Euro 100.2 billion and IFRS underlying earnings to Euro 5.7 billion. AXA had Euro 1,429 billion in assets under management as of December 31, 2016. In 2016 Interbrand ranked AXA the 1st insurance brand worldwide for the 8th consecutive year.

    In the UK AXA operates through a number of business units including: AXA Insurance, AXA PPP healthcare and AXA Ireland. AXA employs over 10,000 staff in the UK.

    The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

    The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

    It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.