The Aporia · Axa bets on AI and automation to deliver boost of up to £600 million

Axa bets on AI and automation to deliver boost of up to £600 million

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Wise, A. (2026, September 15). Axa bets on AI and automation to deliver boost of up to £600 million. Evening Standard. https://www.standard.co.uk/news/tech/axa-french-b1297045.html

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Quick Summary

Insurance company Axa plans to use AI to automate processes like underwriting and claims management, aiming to generate an annual benefit of up to £599 million by 2029. The initiative involves embedding data and AI across its operations to improve efficiency, including personalized customer interactions and automated pricing. This announcement coincides with concerns over the rapid development of AI technology, as highlighted by Anthropic’s CEO who urged for a slower pace to ensure safety measures are adequate.

Written by AI on 2026-09-15, from this article's own text only (the story summary below draws on all the coverage).

AI analysis

Story summary

Axa, an insurance firm, announced plans to boost its annual benefits by up to £599 million through the accelerated deployment of artificial intelligence (AI) technologies. By 2029, Axa aims to automate processes such as underwriting and claims management using AI, which could generate between €500 million and €700 million (£428 million – £599 million) annually in savings or revenue enhancement. The company intends to use AI in its contact centers for customer service queries and sales activities, providing personalized offers to customers. Additionally, Axa is implementing AI-supported underwriting to prioritize high-value opportunities and expedite the process. These initiatives are part of Axa's strategy to systematically embed data and AI across its value chain to transform how it operates internally.

Written for “Axa Invests In AI” on 2026-10-31, grounded in this article and the 0 other(s) covering the same event.

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Uncertain

44%

4 of 9 hedged ("reportedly", "may", "according to")

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not political

takes no side on a contested political question

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65/100

Evening Standard's corrections and hedging, across everything collected from it. Not a measure of accuracy.

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Who wrote this

Anna Wise

71 article(s) here · 1 carrying a prediction

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Also by Anna Wise

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Nothing else under this byline is closely related to this article, so these are simply their most recent.

All 71 articles by Anna Wise →

Narrative

Claims (9 extracted, 4 hedged)

Insurance firm Axa has said accelerating its use of AI could deliver a boost of as much as 700 million euro (£599 million) to help automate processes such as underwriting, claims management and customer contact. uncertain

accelerating → say → underwriting

This includes efforts to “systematically embed data and AI across its value chain, transforming the way the group operates”, the company told investors. asserted

company → include → investors

Axa said it expects to generate between 500 and 700 euro (£428 million – £599 million) worth of annual benefits from AI by 2029, based on its current projections for how the technology will be deployed to make the business more efficient. asserted

business → say → projections

AI and advanced analytics are being used in different ways including within its contact centres, by using AI assistants to deal with customer queries, and sales activity to give customers personalised offers. asserted

AI → use → offers

The company is implementing AI-supported underwriting – which is the process of assessing the risk associated with each insurance policy – in a bid to prioritise opportunities that have the highest value and speed up the process. asserted

that → implement → process

Other use cases include automated claims management and using AI to help set prices. uncertain

cases → include → prices

The company’s new commitments come after official figures suggested that increased business spending on AI helped the UK economy grow in July. However, it also comes at a time of heightened scrutiny over its rapid global expansion, with the boss of Anthropic recently calling for the pace of development in the AI industry to “slow down” to give safety measures time to catch up. uncertain

pace → come → time

Chief executive Dario Amodei wrote in an essay that he was concerned about AI “advancing drastically faster” since the summer and that the technology could be capable of taking over the entire internet. uncertain

technology → write → internet

Meanwhile, Axa said its new strategy will “build the Axa of the next decade” as it set new financial targets for the next three years – including underlying earnings per share growth of between 7% and 9%. asserted

it → say → 7

Axa bets on AI and automation to deliver boost of up to £600 million

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