Axa Bets on AI, Automation to Deliver Boost of €700m
The insurer said AI will automate underwriting, claims and customer service as it seeks to lift underlying earnings per share 7% to 9%.
- On Tuesday, The French company Axa announced a new strategy targeting €500–700 million in annual AI benefits by 2029, aiming to "build the Axa of the next decade" through systematic technology deployment.
- To transform operations, Axa set financial targets for the next three years, including underlying earnings per share growth of between 7% and 9%, while embedding AI across its value chain.
- The company is implementing AI-supported underwriting to assess Insurance policy risks and speed decisions. Other operational use cases include automated claims management, AI pricing assistance, and customer-service chatbots.
- Heightened scrutiny surrounds the rapid global expansion, with Anthropic's leadership recently calling for the AI industry to "slow down" to allow safety measures to catch up.
- Chief Executive Dario Amodei wrote he was concerned about AI "advancing drastically faster" since summer, warning the technology could potentially take over the entire internet.
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Axa wants to make artificial intelligence a major lever of its growth. The insurer plans to deploy it in all its key activities and expects up to €700 million in annual AI-related profits by 2029.
The French insurance group plans to generate up to €700 million in profit thanks to the AI, the central pillar of its new strategic plan The French insurance giant Axa estimates that
Among the objectives of the next strategic plan 2027-2029 called Growing Forward, the massive deployment of the AI is high. The related stakes are high, as well as the hopes of the insurer who relies on a precise industrialisation mechanics to conquer new market shares.
AXA expects artificial intelligence to generate between €500 and €700 million in recurring profits before taxes in 2029, as part of a new strategic plan to accelerate growth and gain market share.
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