Understanding clients to help them navigate tough times

27-10-2020

Understanding clients to help them navigate tough times

COVID-19 has presented companies with a myriad of unprecedented challenges—and now they also face a hard market. Against a backdrop of rapid change, including intense consolidation between brokers, AXA XL is intent on getting to know its clients, and brokers, better than ever, explains Bob Peretti, the chief distribution officer at AXA XL Americas.

While COVID-19 and the subsequent restrictions on society have meant unprecedented challenges for companies of all sizes and types in the US, for many there are only more hurdles ahead. The biggest economic downturn in a generation will mean more pain for many—and on top of that, insurance rates are soaring, adding insult in injury.

Such circumstances make for a complex landscape for insurers too. The needs of their clients have changed—but so has their own cost of capital. The need for insurance remains, and is greater than ever in some lines, but the risk has changed. And all this in the context of a market that has been reshaped by consolidation and fundamentally restructured by technology.

Against this backdrop, Bob Peretti, the chief distribution officer at AXA XL for the Americas, believes he, and his business, can make a difference. He took on the role only in July this year as part of a leadership reshuffle at the business. Prior to joining what was then XL Catlin in 2015, he spent the majority of his career with Marsh, with stints at Zurich and AXIS. Since then, he has led AXA XL’s North America client and distribution management team.


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