The AXA Way: Improving Quality of Services

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Case Details:

Case Code : OPER058
Case Length : 17 Pages
Period : 1997-2006
Organization : AXA
Pub Date : 2006
Teaching Note :Not Available
Countries : France
Industry : Financial Services

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"If you want to innovate, you must always do so in a cost-effective, predictable way, and for that you must master your processes. Excellent manufacturers know how to do this. We will, too"¹

- Claude Brunet, Member, AXA Management Board in 2005.

"This (AXA Way) is a powerful tool that harnesses all of the internal energies we have to mobilize in order to step up the pace of our quest for operational excellence."²

- Henri de Castries, Chairman, Management Board, AXA Group in 2003.

Improving Customer Satisfaction

France based insurance and investment management conglomerate; AXA Group³'s operations were spread across the world. In the year 2001, the company's German operations had some difficulty in retaining customers.

The company conducted a survey and found that although most customers wanted to obtain accurate information about the loss and claims processes, in writing, only 22% of the company's customers were actually receiving such information. The customers also expected to receive such information within the span of one week. However, in most cases, AXA Germany was unable to provide the information in the specified time frame.

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The main reason was that the processing of claims in the company was geared to the needs and ease of operations of those working in the company, rather than the needs and preferences of the customers. To overcome this problem, a team from the company took feedback from customers on claims-related services being provided to them. Having understood their requirements, the team devised a specimen letter, which informed the customers about how their claim was being settled, the details of the employee from AXA who was looking into the matter and how to go about settling their claims.

Letters on these lines were, from then on, dispatched to all the customers who filed for claims.

The result of these efforts was instantaneous. The number of calls the customer service center received about claims-related information reduced by half. The retention rate increased, and customers came back to AXA. The change in the company's outlook towards its customers could be attributed to 'the AXA Way,' a continuous improvement program launched by AXA in 2002, to achieve operational excellence and bring about changes in its business processes based on customer feedback.

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1] Eric Monnoyer and Stefan Spang, "Manufacturing Lessons for Service Industries: An Interview with AXA's Claude Brunet," McKinsey on IT, May 2005.

2] AXA, Activity and Sustainable Report, 2003.

3] France based AXA specializes in insurance and wealth management. The company was ranked 13th in Fortune magazine's Global 500 list in 2004. AXA's operations were spread across Western Europe, North America and Asia Pacific. As of December 31, 2005, AXA served over 50 million customers and had € 1064 billion in assets under management. In 2005, the company reported revenues of € 72 billion and net income of € 4.17 billion.