Commercial brokers are operating in a market shaped by shifting expectations, economic pressure and rising demands from clients who want more from their insurer partnerships. This need for faster decision-making, clearer communication and more consistent service comes at a time when insurers are sometimes accused of falling down on all three fronts.
For AXA, the value of its large, regional network of branches comes to the fore in times like this, with expertise and underwriting authority embedded in local trading communities.
Louis Rudd, Regional Director for the South, is clear about the value AXA derives from this network and why it continues to invest in it: “A huge amount of what we do comes down to relationships,” he says. “You can have all the tech in the world, but being able to sit down with someone still matters.”
That focus on connection and accessibility has shaped AXA’s regional identity for decades and explains why the business has resisted the industry trend of scaling back the nationwide footprint or dipping in and out of the regions. Consistency, rather than tactical presence, is the principle that guides AXA’s regional model.
Strong regional foundations
Local expertise has become an essential part of the proposition over the years. Each region brings its own strengths and accumulated knowledge such as the Midlands’ rich manufacturing history, Scotland’s distillery expertise and London’s concentration of social housing and complex urban portfolios. Instead of keeping that knowledge siloed in individual branches, AXA has built a proposition that allows this expertise to be distributed nationally.
“What we do in the Southwest we can easily replicate in Leeds and it’s the same principle across the branches,” says London Markets Director Paul Wouldham. The ability to move insight, appetite and experience across the network brings the full weight of the proposition and AXA’s expertise into the heart of the regional broker community. And that ability to work closely together – both physically and figuratively – helps to meet some of those growing client demands.
“Customers are operating at a different pace now and expectations are higher across the board. The reality is that in many respects, the insurance industry hasn’t kept pace and that is one of the reasons we have invested so much in technology in recent years,” says Louis.
But as the sector quickly plays catchup, the importance of being clear and consistent when communicating with brokers, having the necessary expertise and underwriting authority and owning the results of decisions made, only grows. These fundamentals may sound simple or outdated in the midst of a market discourse dominated by conversations around AI, but they remain central to AXA’s approach to trading in the commercial market.
Strong regional autonomy
One of the most significant operational changes at AXA has been a refocusing of the kind of business that the branches underwrite. SME business was moved to a dedicated specialist unit a number of years ago, enabling the regional teams to focus on mid-market and more complex risks where local knowledge, judgement and trading relationships matter most. That shift has allowed AXA to place specialist underwriters at the heart of each branch.
“Years ago, our branches were trying to be all things to all brokers but now they are purely focused on developing the mid-market and mid-corporate core book as well as providing our brokers with access to specialists in other lines of business such as financial lines, motor trade and SME,” says Dene Smith, Regional Director North. The level of expertise we have embedded in every branch across the country means the amount of referrals has reduced, decision making is accelerated and brokers can expect quick, informed answers.
Alongside this, AXA has invested heavily in aligning processes across the network. While regional autonomy remains strong, the way work is handled is now far more consistent. This has created a level of resilience that has caught the attention of brokers, especially during busy periods.
“We all work to the same processes now, so if one branch has vacancies or sickness, or there is a surge in demand in a particular region, all the other branches can step in and help. To the broker, it feels like a seamless process,” says Dene.
Just a couple of decades ago, independent brokers dominated regional markets but as round after round of consolidation has brought more of them together, the future of the independent has come under the spotlight. Despite – or perhaps because of – this, regional brokers remain a core part of AXA’s regional identity.
These local relationships with regional brokers are a key reason AXA has persisted with its regional network while other insurers have retreated or flipflopped, but the branches aren’t designed for just one part of the market.
While major nationals may have central agreements in place, the day-to-day reality of placement, negotiation and problem-solving still happens through the branch teams. Rather than existing to serve discreet parts of the market, AXA’s regional presence sits at the core of its offering.
“Whether it’s an independent or a national broker, they want people they can trust, systems that work, and they want support in developing the next generation of talent coming through. And often, that can only be delivered effectively when we are on the ground, side by side with brokers, wherever they are in the UK,” says Dene.
A broad regional footprint
Not all regional brokers are made the same so AXA has built a proposition around targeted initiatives such as its Premier Partner community of independent brokers. In Bolton, the National Trading Centre operates as an incubation model designed to support smaller or fast-growing firms until they reach the scale where branch-level attention is appropriate. The latter is seen as a key channel for future growth.
“Consolidation often prompts talented people to set up on their own, creating new regional brokers with ambition and strong connections, so we’re always on the lookout for the next big regional broker. If you don’t support independents early, you miss out,” says Louis.
Maintaining a broad regional footprint is a strategic choice that requires continued investment and AXA is clear about the importance of brokers matching that commitment with committed relationships: “We’ve been here 40 years and we’ll be here 40 more and that consistency matters more and more in developing long term partnerships,” says Paul.
He acknowledges that price remains an influential factor in any market, especially today, but points out that AXA’s retention levels have remained strong despite market pressures trying to force prices downwards. The combination of service, expertise and accessibility that AXA’s branch network provides, continues to resonate with brokers even as they navigate heightened price sensitivity from their clients.
But AXA’s regional proposition goes far beyond the nuts and bolts of trading. More and more brokers are seeking support on emerging issues outside of traditional underwriting discussions, such as ESG considerations, climate resilience, sector-specific regulation and emerging operational risks. AXA has broadened its capability to meet these needs, offering risk management insight, site surveying support and climate-related tools that help clients understand and mitigate their exposures.
“Brokers value seeing AXA’s name associated with important and current issues. The lobbying we do, the climate resilience work and the ESG guidance we provide are all core to our proposition. This kind of support matters because running a modern brokerage takes much more than an ability to trade,” says Paul.
A combined approach for stronger solutions
AXA’s presence in the regions is historic but it has never remained static. New opportunities across the regions continue to expand AXA’s appetite, with cyber, social housing, education and latent defects among the areas where AXA has strengthened or redefined its position.
Investment from the AXA Group has supported this growth, underpinned by trust in the performance and expertise of the UK regional teams. Paul is clear on why that backing exists: “If we hadn’t been making a return year in, year out, we wouldn’t have the freedom to explore new products and develop our proposition so comprehensively.” Collaboration with AXA XL has also broadened the offering, particularly for larger and more complex risks, where a combined approach gives brokers access to the full range of propositions across AXA.
While the regional footprint remains stable, it’s not static, with recent expansions in places like Southampton and Newcastle showing that the business remains ready to respond when opportunity emerges: “There are no definite plans for new sites but never say never. If an opportunity emerges, we’ll respond, and we’ll respond quickly,” says Louis.
Across all of this, the message to brokers is one of partnership, transparency and long-term commitment. Brokers have supported AXA through market cycles, and AXA’s regional leaders are clear that the business intends to continue earning that support through consistent service, sustained investment and openness to new ideas.
As Louis puts it: “We’re not going anywhere. There’s still loads to do and so much opportunity out there and we believe our branch network is the most effective way of securing those opportunities.”