Axa Group has launched a new entity, Axa Next, to build new services and business models beyond insurance.
Each year, Axa will invest €200mn in its innovation vehicle as it aims to speed up the pace of innovation through Axa Next.
The company said its new structure will allow it to benefit from a dedicated organisation and resources as well as new ways of looking at business developments.
Thomas Buberl, chief executive of Axa commented: "In a world impacted by major technological and societal disruptions, the expectations around protection are increasing dramatically. I am convinced that Axa Next and their great innovations position Axa to meet the needs of our customers, and become a close partner in their lives,"
Guillaume Borie, CEO of Axa Next and group chief innovation officer, shared: "Insurance will remain a core part of our proposal, but we will go beyond insurance by bringing new services and offer a more comprehensive answer to the evolving needs of our customers."