AXA joined GEM at the end of last year as a sponsor to collaborate on enhancing loss modelling efforts for seismic events through sharing of hazard and risk data, engineering expertise, and technology to proactively mitigate property loss.
AXA is the property and casualty, and specialty risk division of AXA offering a complete range of insurance and reinsurance products to enterprises of every kind and size in over 200 countries and territories.
AXA’s goal is to make communities better prepared for natural hazards, such as earthquakes. The partnership with GEM is expected to help AXA achieve their goal further, especially at a time when increasing intensity of natural disasters has made managing exposures more challenging than ever.
GEM’s team of scientists and engineers will work with AXA on advancing more sophisticated technology and data analysis tools that can help risk managers more proactively assess and mitigate their exposures.
“GEM and AXA share a common approach in reducing risk such as data transparency and teamwork that we believe are significant factors in mitigating and managing risks worldwide. We are happy to team up with AXA and we look forward to fruitful collaboration in the years ahead,” John Schneider, Secretary General, GEM Foundation.
Ultimately, providing companies with critical data enables a more proactive approach to resilience, which reduces the potential severity of future losses, and helps risk managers to make better business decisions on how to improve their risks.
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