Global insurance company Axa has rolled out commission flexibility to the landlords product from its Simple range enabling brokers to control their remuneration on a case-by-case basis on new business or at renewal.
According to AXA, the commission can be set between zero and 40% and will be reflected in the gross written premium charged.
At present, the facility is available on AXA’s Simple e-trading platform and to all brokers on the Acturis system. The company also plans to add the functionality to other software providers and incorporate into other Simple products during 2014.
AXA commercial intermediary managing director Matthew Reed said, "In a highly competitive market it is important we give brokers the control over our products that they need and they have told us that the ability to flex commission levels is a vital part of this.
"This enhancement to our product suite is further evidence of our commitment to meeting our brokers’ evolving needs and is the first of a number of exciting enhancements to our Simple product range planned for this year," Reed added.
With more than 163,000 staff serving 102 million clients in 57 countries, the AXA Group had €1.11 trillion in assets under management as of 31 December 2012.