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AXA Insurance Serves Up New Proposition for High Net Worth Individuals – the AXA Imperial Collection

August 28, 2018 |

AXA today announced the launch of the AXA Imperial Collection, a curated suite of legacy, wealth, lifestyle and global medical solutions, with coverage that extends to private art, collectibles, jewellery, yachts and luxury and performance cars to cater to the evolving needs of high net worth individuals (HNWIs) in Singapore.

Leveraging AXA’s position as a composite insurer in Singapore, the AXA Imperial Collection covers the spectrum of risk management and insurance, and offers personalised and customised protection strategies for HNWIs. It comprises a range of life insurance solutions including legacy planning and wealth management solutions – AXA Private Wealth Variable Universal Life (VUL), AXA Privilege Wealth VUL and AXA Private Wealth Portfolio International – which are the core offering, as well as international medical and high-end insurance plans to protect lifestyle assets.

“In spite of the growth of Asia Pacific’s HNW population, it remains a largely untapped and underserved market for insurance. With the AXA Imperial Collection, we aim to fill this gap by offering a full suite of solutions and services that will serve the needs of a wide and diverse range of HNWIs,” said Sean Goh, Managing Director, Life, AXA Insurance.

“At the same time, we also recognise the importance of a strong distribution strategy, and are equipping our existing distribution network as well as tapping new distribution networks, such as specialised international brokerage firms, private banks, and family offices to support our entry into this market. The launch of the Imperial Collection aligns with AXA’s focus on accelerating growth and strengthening customer engagement in the HNW segment.”

Introducing an enhanced VUL plan and a new VUL offering for a wider segment

Featuring greater flexibility than Universal Life (UL) plans which currently dominate the wealth management landscape in Asia, the enhanced AXA Private Wealth VUL is a jumbo whole life plan designed to support legacy and estate planning of HNWIs, including wealth preservation and liquidity planning. It caters to savvy HNWIs looking for greater cost efficiencies and much more flexibility and control, while still obtaining jumbo life coverage. One of its key features is that premiums can be paid using cash and/or client assets held by a selected custodian bank, minimising the liquidation of investments for cash to fund premium payment. 

As part of the AXA Imperial Collection, AXA has also introduced a second VUL offering, AXA Privilege Wealth VUL, to support the protection and wealth planning needs of a wider segment – the upper affluent and emerging HNW – with a lower premium entry point, for both accredited and non-accredited investors.

Insuring lifestyle assets and health for peace of mind

Beyond meeting the legacy planning and wealth management needs of HNWIs, the AXA Imperial Collection offers tailor made high-end lifestyle insurance solutions that extend to their homes, covering “all risks” including loss/damage to homes and its contents (e.g. private art collections, jewellery, watches), yachts and luxury and performance cars, as well as comprehensive international medical protection.

Luxury concierge and lifestyle services to offer greater convenience and exclusive privileges

In line with AXA’s commitment to be a partner to its customers, AXA is one of the first life insurers in Singapore to offer a full suite of luxury concierge services to its HNW customers. Eligible AXA Imperial Collection customers will be able to access a wide array of luxury concierge and lifestyle services that encompasses lifestyle & travel concierge, travel medical assistance services and luxury home assistance. These services will be delivered by AXA Partners, a leading international provider of concierge and assistance services.

To provide added convenience and acknowledging the evolving demographics of the HNW segment, the exclusive concierge services and privileges can be accessed 24/7 both via a dedicated hotline and the PLEEZ digital personal assistant mobile application. PLEEZ is an intuitive digital personal assistant, combining artificial intelligence (AI) and human expertise, that offers its users an enhanced level of convenience by providing everything from recommendations to reservations and consolidating appointments and services, including taxi bookings, hotel and restaurant reservations, and travel itineraries, all in a single app.

 

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