To attain its leadership ambition, the AXA Group has built its strategy around a business model and a set of clearly defined operational priorities.
AXA’s business model entails fortifying, consolidating and developing organic growth-retaining existing clients and acquiring new ones-to ensure that the Group is able to seize genuine opportunities for external growth. AXA’s development efforts are focused on the most profitable segments, and the Group seeks to enhance its positioning in developed or high-growth markets.
AXA has set five operational priorities or catalysts for change, which together are known as the five cylinders of its growth :
- Product innovation : a source of differentiation that reflects AXA desire to offer added value every time it introduces a new product in one of its markets.
- Core business expertise : AXA’s goal is to offer the best service at the best price.
- Distribution management : a second source of differentiation that reflects AXA’s aspiration of enhancing sales performance by lessening the administrative load on its distributors.
- Quality of service.
- Productivity : AXA seeks to reduce operating costs and improve quality every year. Cost reduction is an ongoing challenge, not a one-off reaction to a difficult operating environment.
To achieve operational excellence in each of these key areas, AXA has adopted a continuous process improvement program based on listening to the voice of the customer.
Its global strategy is leveraged by the size and reach of the AXA Group, which encourages local operating units to develop and exploit synergies.