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June 2023 plenary meeting


Speech by Thomas Buberl

Thomas Buberl expresses his sympathy following the explosion in rue St Jacques et Paris, where an AXA entity, Mutuelle St Christophe, is located. A crisis unit is supporting the victim's family and the employees:

AXA faces challenges such as rising interest rates and geopolitical tensions, but remains solid with a positive performance. The transformation strategy has been successful and the next plan targets growth in enterprise risk and health, while addressing climate and inclusion. A diverse management team will focus on growth, data and customer service. AXA will invest in existing countries, such as the acquisition of Crédit Mutuel's business in Spain. Improving employee satisfaction and simplicity are also important. Hedi Ben Sedrine, Secretary of the EWC, highlights the generally positive social dialogue, despite local tensions. Transnational entities, such as AXA Partners and AXA XL, are experiencing complexities, while outside Europe, the situation in Japan and Switzerland is favourable. Pascale Rauline and the Secretariat team will continue to strengthen social dialogue wherever necessary.


Presentation of the LLM (Large Language Model) & GAI (Generative Artificial Intelligence)

At an exploratory session on artificial intelligence (AI), AXA expresses its commitment to developing a responsible approach by highlighting four pillars: fairness, ethics, transparency and human supervision. AI encompasses complex capabilities: acting in complex environments, perceiving/understanding and thinking. Large Language Models (LLMs) enable AI to mimic human intelligence, with concrete applications in natural language processing, pricing, contract generation, etc. The current limits of AI lie in reasoning, planning, common sense and interaction with the environment. The goal is not to compete with humans, but to leverage AI to improve outcomes. AXA is investing in responsible AI and working with regulators to address issues around LLMs and AI integration. Regulation in the pipeline will be cross-cutting and extraterritorial, involving national and insurance sector levels.


Presentation of Emerging Customers and Inclusive Insurance

Koen Hermans mentioned the development of inclusive insurance in emerging and mature markets, highlighting the positive social impact and AXA's efforts to develop a responsible approach based on fairness, ethics, transparency and human supervision. Garance Wattez-Richard explained that inclusive insurance covers a variety of risks depending on the market and the client, particularly in the informal sector. AXA is present in 15 emerging countries, targeting a growing population aspiring to greater financial security. In mature markets, AXA adapts its products to the needs of modest employees, micro-entrepreneurs and young retirees. The aim is to meet customers' specific needs based on the reality of their lives.

In 2024, AXA will launch tailored solutions, with a focus on simplicity, quality of service and public-private partnerships. AXA's overall goal is to achieve sustainable profit while creating social value through this inclusive approach. The question of the indicator of success beyond revenues and profitability was raised. Garance Wattez-Richard emphasised that inclusive insurance will contribute to the Group's social rating. Inclusion is based on three areas: HR, CSR and commercial activity. AXA aims to measure the real impact and better assess the Group's contribution to the beneficiaries of insurance.


Read the secretariat's notes here: