Underwriting, claims and a global footprint brings local solutions into view


Authored by AXA XL Head of Multinational Casualty Stefan Homberger

It’s 2 a.m. in Hong Kong. One of your customers just had a major disruption, and your team needs to respond now to unravel the issue and get the claims sorted. How do you help solve it from the United States?

Welcome to the landscape of global business. Your company’s reputation, your products, your customers, your suppliers, and your distribution channels are interconnected, even in the farthest reaches of the world. When one thing goes wrong, coordinating efforts can be a herculean effort.

With a lot of multinational casualty insurance policies, that effort would primarily fall on you and your broker. While many insurance carriers can offer protection, some cannot offer onsite or even in-country support. Your organization would benefit from an insurance partner with a local presence and understanding of the complexities of that jurisdiction.

But is that asking too much of your insurance partner? Fortunately, the answer is no.

Then to now

Traditionally, a global customer with large-scale risks and complex, multinational issues viewed insurance coverage as a simple transaction – simply knowing you had coverage was sufficient. Today’s sophisticated buyer requires much more than just a policy. Knowledgeable buyers want assurances that their coverage needs are met, and the policy structure is in compliance with applicable laws and regulations. Clients want to know that when a claim occurs their interests are appropriately represented, and the claim is handled efficiently and fairly. Clients want confidence that their insurance provider is a partner that has the experience and expertise to respond to the constantly shifting world and evolving needs. And many clients want coverage tailored to their needs, not blanket coverage that may or may not fit.

Having operations in multiple countries adds another layer of complexity to delivering an insurance program successfully. As your operations become more complex and more ingrained in other cultures, you need a carrier partner who knows how to underwrite local coverage and respond quickly when you need expertise or claims support.

So how can a larger organization get more from their multinational casualty program? By selecting a carrier that has a global footprint and provides full-scale support from the right-fit underwriting and claims handling to risk advisory and best in class service.

 approach, local support

As your business operations expand globally, so do the complexities surrounding it. Having a dedicated team with localized support improves response times, coverage appropriateness, and claims handling while offering a dedicated point of contact for each aspect of the program. Each one of our Multinational Casualty programs has a dedicated Account Service Team comprised of a:

  • Program Underwriter who works in tandem with both our regional team and local experts to design programs that respond to your organization’s needs and the laws and regulations in the different jurisdictions.
  • Underwriting Assistant who drives the execution and program implementation.
  • Claims Account Manager who coordinates the claims under the program for occurrences anywhere in the world.
  • Customer Relationship Manager who provides coordination and collaboration between all product lines in your insurance programs and can locate additional services that help provide innovative solutions.

Delivering customized, local support requires organization. At the core of each solution, our Global Programs Center of Excellence has the responsibility of ensuring the global network that supports your program is managed effectively. We issue locally admitted policies in over 200 countries. Each day, our regional hubs engage with our partners to coordinate with the program underwriting team to ensure proper coordination of services and response to your multinational locations.

Providing innovative solutions to complement an insured’s multinational casualty program requires expertise, flexibility and coordination with the domestic primary and excess policies. We consider the entire casualty program when assessing the multinational casualty program. In response to the needs of our clients, last year we launched a new product, Multipass™ which combines the international sophistication of our Multinational Casualty team with the additional capacity provided by the North America Excess Casualty unit. Mulitipass™ creates a global admitted commercial umbrella program.

We also partner with our US Risk Management primary casualty unit to offer US domestic coverage for a true global solution for our clients. Having one carrier for domestic and multinational coverage helps ensure your program needs are even more streamlined and seamless. This also assures coordinated policy language and clarity to deliver the optimal claim outcome.

No matter where you are in your insurance process, your multinational program can deliver one thing throughout: transparency. You should understand what you’re buying, what services are available to you, and how your carrier will address your needs from the first interaction with your carrier.

More than price, the right multinational casualty program can deliver the peace of mind knowing you have secured the service that best suits your organization’s global exposures. Your carrier enters a partnership with you and your broker. That partnership should help you resolve issues faster, improve your risk portfolio, and give your organization the ability to capitalize on opportunities.

Stefan Homberger is Head of Multinational Casualty for AXA XL. He has over two decades of experience in underwriting multinational casualty risks. He holds the following professional designations: The Chartered Property Casualty Underwriter, Associate in Reinsurance and Associate in Risk Management. To speak to Stefan, CLICK HERE, leave a message and youTalk-insurance will pass your enquiry on.


About AXA XL

AXA XL is the P&C and specialty risk division of AXA which provides property, casualty, professional and speciality products to industrial, commercial and professional firms, insurance companies and other enterprises, here in the UK and throughout the world. With underwriting teams based in the US, UK, EMEA and Asia Pacific regions, we can make decisions close to the markets you serve and work with you to tailor cover to your business needs.

We help businesses adapt and thrive amidst change. Rather than just paying covered claims when things go wrong, we go beyond protection into prevention so your business can go beyond the unexpected.

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