Going into 2024, AXA International Markets CEO Hassan El-Shabrawishi personally met with internal and external partners in the country to discuss AXA’s vision for a new era of sustainable growth. In an exclusive Q&A, El-Shabrawishi shared more about his plans to further drive innovation, key highlights of his country visit, and his thoughts on the local market along with a positive outlook for the coming years.
AXA International Markets CEO Hassan El-Shabrawishi is one with the AXA Philippines team in moving towards a new phase of growth.
Can you tell us more about yourself? Who is Hassan El-Shabrawishi, CEO of AXA International Markets?
I joined AXA in 2010 as a Business Transformation Leader for AXA’s Mediterranean and Latin America region. So, at the onset, I was already exposed to different markets and have learned their varied needs and unique challenges – which, as a critical part of my job, is essential for me to really pinpoint how to meet and address.
Now, as the CEO of AXA International Markets, that is still very much part of the job. Our market is a division within the AXA Group focusing on providing innovative solutions and capabilities tailored to the specific needs of our diverse customers. Currently, we cater 17 markets around the world and are present in Latin America, Africa, Türkiye, Middle East, Korea, and Southeast Asia.
What was the objective of your recent visit to the Philippines?
It was an opportunity to reaffirm AXA’s steadfast commitment to serving the Philippine market. Having this on-ground engagement proved instrumental in fostering a comprehensive understanding of our business and strategies.
This visit carries even greater significance as AXA Philippines approaches its 25th anniversary. It is a time to emphasize AXA’s longstanding dedication to protecting what matters most to Filipinos over the past quarter-century.
How does the Philippine market fit into AXA International Markets’ overall strategy?
AXA International Markets has the ambition to achieve strong, sustainable, and profitable growth in the markets where we are present, with the Philippines being a relevant contributor to this ambition. Our strategy is based on providing specialized support to accelerate growth, in a way that we adapt our approach to meet the unique needs of the local market. This enables us to foster closer relationships with our Filipino customers, better understand their preferences and demands, and develop innovative products and services that effectively address their specific requirements.
How does AXA provide tailor-fit solutions for the Philippine market?
Because each market is unique and dynamic, we constantly reassess the relevance of our products to the markets we serve. These reassessments help us in developing more flexible products. A notable example is the mobile app called Emma by AXA PH which allows customers to easily manage transactions related to their AXA policies, offering convenience and security, while also enabling us to connect with them more closely.
We also introduced the first Pay-How-You-Drive car insurance in the country through Connected Toyota Insure (CTI), developed in partnership with Toyota Motor Philippines. This offers lesser premiums with safer driving practices so Filipinos can feel more secure on the road.
Another is the AXA MyLifeChoice, one of our flagship offerings which we made even better to be an all-around coverage for income protection, health, and investments. This answers the need of Filipino young adults for a plan that can protect all that matters to them without having to prioritize one form of protection over the other.
And more recently is the AXA Global REIT and Property Income Fund via Asset Master, AXA’s unit-linked single-pay insurance plan. This is specially designed for local investors who want access to prime global real estate investments without the cost of full property ownership. And because the fund is linked to an insurance policy, one is guaranteed at least 125% of his investment as life insurance coverage.
All these are tied to our commitment to creating more country-specific solutions to cater to the evolving needs of Filipinos.
How has AXA Philippines demonstrated innovation? Are there any milestones you would like to share?
AXA has been in the country for almost 25 years and that alone is a milestone for us. It allows us to reflect on our journey. Since 1999, AXA Philippines has revolutionized the insurance industry. Starting from being a pioneer in bancassurance operations, in partnership with Metrobank, to being at the forefront of providing comprehensive protection – encompassing life and non-life plans. Thus, the change in our corporate name to “AXA Philippines Life and General Insurance Corporation”.
In that long span of years, we have witnessed constant innovation and excellence at play. Just looking at recent times, AXA Philippines has received various recognitions such as winning the 2022 Life Insurance Company of the Year at The Asset Asian Awards (Triple A Awards), General Insurer of the Year, and the Mobile App of the Year for the Emma by AXA PH app in the Insurance Asia Awards in 2022, earning two Gold Seals from the 2023 Reader’s Digest Trusted Brands Award for the medical plan Health Care Access (HCA) and travel insurance plan AXA Smart Traveller, and earning the Team of the Year award at the prestigious CIO 100 Awards.
These are just some of the achievements that serve as great reminders of what we have been able to do and will continue to do more of. At International Markets , we make it an endless mission to continue serving and protecting more Filipinos through innovative and dedicated solutions.
What is your outlook for AXA Philippines in the coming years?
We see tremendous potential for growth and innovation in the Philippines. As part of the broader AXA International Markets, AXA Philippines will continue to play a vital role in our global strategy. We will leverage our expertise and resources to support the development of tailored solutions that meet the evolving needs of Filipinos. Our focus on inclusive protection and innovation will remain at the forefront as we strive to make a positive impact on the lives of our customers in the Philippines and globally. We look forward to shaping a world where people can be more confident to move forward despite uncertainties because they have the safety net and security that insurance protection offers. At AXA, we are firm believers that in life we may encounter many risks, but the future shouldn’t be one of them.
AXA International Markets CEO Hassan El-Shabrawishi with the AXA Philippines team in an iconic ‘One AXA’ pose at the Leaders’ Summit. First row (from L to R): Laura Moreno, Chief Risk Officer; Gael Lapie, Chief Financial Officer; Nandy Villar, Chief Marketing Officer; Bernardo Serrano, Chief Executive Officer; Hassan El-Shabrawishi, CEO, AXA International Markets; Kathleen Driz, Chief Operations Officer; Marie Raymundo from the Distribution Office; Sharon Hernandez, Chief Human Resources Officer; and Carlos Santos, Chief Transformation And Technology Officer.
AXA, a pioneering and leading insurance company in the world, is present in 50 countries and currently provides protection for 95 million customers worldwide. AXA Philippines provides a comprehensive suite of life and non-life insurance products, as well as professional needs assessment, to ensure that AXA customers and their loved ones are prepared to face any crisis.
To know more about AXA Philippines and which plan fits your life goals and needs, visit https://www.axa.com.ph/.
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