AXA XL launches virtual risk assessment tool

AXA XL Risk Consulting has launched a new risk assessment service called Remote Risk Dialogue (RRD) to evaluate loss prevention across business lines amid COVID-19 restrictions.

RRD uses data captured from telephone calls, web tools and existing reports, allowing AXA XL’s risk engineers to analyse information that is not captured by traditional loss prevention programmes. It provides risk managers, underwriters and brokers with an up-to-date view of a client’s risks.

Corinne Vitrac, chief executive at AXA XL Risk Consulting, said the re/insurer had to find new ways to support its clients in their risk management efforts in response to restrictions on face-to-face meetings.

Vitrac cited clothing manufacturers that have started to manufacture masks, domestic appliance manufacturers making medical devices and alcoholic beverage producers making hand sanitiser, all in response to the COVID-19 crisis.

“Remote Risk Dialogue allows us to continue to interpret clients’ data and assess any potential new risks,” said Vitrac. “Changes to operations and output bring about new risks. Identifying, managing and mitigating these risks is key and we are proud to be standing alongside our clients to support them in adapting and innovating in these challenging times.”

AXA XL Risk Consulting is also hosting webinars for risk managers to discuss the risks their companies are facing and how to mitigate them.