France-based AXA has introduced a new e-traded commercial combined product, AXA Business Choice, which provides brokers access to comprehensive cover for around 2,000 trades.
Launched by AXA commercial lines and personal intermediary, the new e-traded product is available through its extranet Acturis’ broker trading platform or by contacting to its online trading team.
AXA commercial lines intermediary managing director Jon Walker said the delivery of the product, from concept to going live took about six months.
"It has become a cliché to say that insurers are responding to broker demand but the idea for this product came out of meetings we had at last year’s Biba Conference. Brokers told us that although they valued our online offering, we lacked a commercial combined product."
The new product offers wide-ranging cover for manufacturing and wholesale businesses with turnovers of up to £5m and up to three premises, with premiums starting at £350 and commission flexibility available.
According to AXA, the product will also be available on other broker software houses throughout the course of the year and provide better cover and claims service at a competitive price.
Brokers will be provided further enhancements to the product later in the year, with the addition of legal expenses, personal accident, theft by employees, equipment breakdown and increase in stock deterioration cover.
Image: AXA building in Brno. Photo: courtesy of Frettie.