AXA XL launches new digital property risk solution

Re/insurer AXA XL has launched its new Digital Risk Engineer, a connected solution designed to enable companies to monitor the health of their buildings and assets.

It uses internet of things (IoT) devices installed in the clients’ buildings to capture information from connected systems such as energy, water (including sprinklers), heating, ventilation and air conditioning (HVAC).

The information is then analysed in real time to detect anomalies in the building, allowing for early intervention to mitigate the occurrence and severity of an incident. It also helps to ensure minimal interruption when maintenance or repairs are needed. The data and insights are accessible to the client and AXA XL’s risk consultants via an online dashboard.

Jonathan Salter, head of risk consulting at AXA XL,said: “Digital Risk Engineer combines decades of experience in property risk engineering with some of the latest IoT innovations. This fully digital offering is especially relevant today as we grapple, as a society, with the impacts of COVID-19, and the likelihood that companies will try to limit in-person site visits where possible.”

Hélène Stanway, digital leader at AXA XL, added: “We have seen that supplementing risk consulting with continual autonomous monitoring can make a real difference for our clients. The use of the technology can limit the risk of an incident occurring in the first place and, where it does, limit the severity. Also, early detection can reduce the associated business interruption impacts.”