AXIS Capital launches insurtech investment arm
AXIS Capital has launched AXIS Digital Ventures, which will focus on setting up partnerships with data and analytics firms with high value in insurance applications.
AXIS Digital Ventures will then feed these new technologies into AXIS Capital’s business, which last year announced it was “strengthening its operating model” through innovative tech.
The company has said that this new launch represents its efforts to enhance digital and insurance technologies to increase efficiency, enhance profitability and upgrade its product line.
“With AXIS Digital Ventures, we are leveraging the powerful tools and data available today to deliver deeper insights and provide our services in the way our diverse customer base wants them,” says Albert Benchimol, president and CEO of AXIS Capital.
The new arm of the company will be led by Zach Powell, who used to serve as director of corporate development at AXIS. He will report to group chief underwriting officer Eric Gesick.
AXIS Capital, through its operating subsidiaries, is a provider of specialty lines insurance and treaty reinsurance.
It has offices in Bermuda, the US, Europe, Singapore, Middle East, Canada, and Latin America.